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Product Managers – Sutradhars in a Hyperconnected World
Product Managers – Sutradhars in a Hyperconnected World

June 9, 2023

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The changing nature of human-to-human interactions, human-to-machine interactions, system-to- system interactions and always on connectivity has opened immense opportunity to innovate, streamline processes, improve efficiencies, reduce costs, and build products and services not imagined before.  This in turn has brought to center stage the ever-evolving role of product managers – making it more demanding yet fulfilling.

In recent years, we have witnessed the evolution of multiple channels and technologies adopted to reach, engage, and provide services to customers - mobile apps, online shops, SMS, emails, virtual assistants, gamification, and the metaverse – all alongside traditional channels. The relentless demands of consumers for better, frictionless, seamless and ‘wow’ experiences extend beyond organisational boundaries and ecosystems.

In addition, product managers now have access to real-time feedback of customer interactions with products. This could be through social media, digital enquires, chat bots, and live streaming, to name a few, resulting in borderless engagement between teams and end users. 

Product managers must synthesize the inputs of internal and external stakeholders with an aim to meet a common objective. They need to demonstrate the ability to quickly pivot and realign stakeholders to changing priorities, market situation and complexities, competition, and feedback from customers. This is possible when a product manager has a deep understanding of various facets of the product lifecycle, from inception to build out, to market launch, and everything in between.

One may wonder what drives a product’s success. And it will not be incorrect to say that a product manager’s ability to bring teams together, to deliver on a shared vision is paramount.  A product manager’s ability to engage effortlessly across engineering, compliance, branding, sales, market research, design, operations, and analytics is tested time and again through the product lifecycle. Bringing all these stakeholders together at the right time in the product lifecycle helps drive the product strategy and iterative improvements to the product, which is key to driving the product’s success.

Another important aspect of the product management role is driving innovation, which requires product managers to boast deep knowledge, not only on their product, but also on the internal and external ecosystem that impacts the product. Fostering innovation and enabling teams to create new solutions becomes key here. With geographical boundaries diminishing and easy access to unlimited information, there is a demand for local customisation of globally relevant products. This requires product managers to hone global as well as regional knowledge of their product and domain and be location agnostic.

A good understanding of technology gives product managers the flexibility to design or define solutions that can cater to requirements for customisations, whether regional or client specific, and rally engineering teams to deliver solutions that are flexible and scalable. The use of product engineering pods that are empowered to make product decisions effectively reduces time to market, improves quality of product, and fuels innovation.

All of this allows for the delivery of seamless end-to-end customer journeys in today’s hyperconnected world. With the ubiquity and connectivity of information, maturity in engineering processes, robust CI/CD (continuous integration / continuous development) pipelines, and intelligent automation opportunities, client experiences can be elevated exponentially.   And product managers will play an integral role in delivering these elevated experiences.

By Chandni Sachdeva, Senior Director, Product Management, Fiserv


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