From ‘Operations’ to ‘Customer’ focused
The market environment is becoming increasingly competitive, with clients focusing on providing best-in-class customer experience and thereby enhancing customer loyalty. The clients’ markets are consolidating with frequent mergers and acquisitions rapidly resulting in consolidation in their business landscape; take the example of the healthcare industry in the US where consolidation has changed the business environment dramatically. Moreover, with rapid changes in technology and customer behavior, clients are re-focusing on priorities such as cybersecurity. As a result, BPM firms are becoming increasingly customer centric and aligning their business models to the clients’ business. The outlook has now become customer centric, focusing on advocacy to build the customers’ brand. A deep understanding of the customers’ business and its challenges is critical for BPM companies. BPM companies will also focus on key issues in the client industry such as cybersecurity, consolidation and soon. The goal is to deliver value and improve top-line while being a partner to customers.
How can the Indian BPM industry move from being ‘Operations’ to being ‘Customer’ focused?
- Build deep understanding of customers’ businesses, and align business models to them
- Become customer centric, focus on creating great customer experiences
- Push the envelope, educate customers on what is possible, co-innovate with them, and create security driven mind-sets and solutions
- Harness agile technology platforms; combine process expertise with domain knowledge and real time analytics
- Automation is a game changer, leverage it as an opportunity and create partnerships that will help deliver complete solutions
- Using social, mobile, analytics and cloud based technologies to provide anytime anywhere predictive and contextual insights
- Pick selective bets- vertical, geographic or service-lines, and develop end to end solutions in those spaces
- Create new pricing models that can appeal to new customer segments
- Shift from providing back-end piecemeal services to front-end integrated solutions
- Put skin in the game, make investments, show-case proof of concepts to gain customer business and loyalty
- Create organizational ‘change management’ programs to start with a change in the mindset of the existing management
- Transform current HR models and re-think hiring, training and retention models-focus on agility and productivity
- Shift focus from building India centric talent pool to global subject matter experts with analytical thinking and business knowledge