Reinventing Customer Service: OSvC & Digital Trifecta
For the consumers of today, customer experience (CX) is the number one priority. Instant gratification is ingrained in the expectations of the customer and is the “latest golden standard” in customer experience. We are experiencing a customer service reformation and digital transformation, together, driven by the customer. 57% of businesses felt their business model was outdated and needed to be modernized.
As a result, what was historically perceived to be a great customer experience is no longer good enough and virtually all organizations are forced to revamp their approach towards CX. Traditional service/Call Centers do not exist anymore, and service calls have skyrocketed. As we head into this new normal, customers have shown they will be more cautious when it comes to spending their hard-earned money. About 65% are currently postponing purchases and travel, and 52% intend changes to their buying behaviors, companies now more than ever most emphasize customer experience in order to make revenue.
The customers of today are more thoughtful and selective when it comes to buying anything. The buying decision is more into buying experiences than just buying and factors such as brand, purpose and credibility hold equal importance to privacy, security, convenience, and certainty.
Oracle Cloud CX – An Intro
Oracle with its focus on the cloud and CX has quietly and diligently moved way ahead with a focused goal of customer experience. Their investments on customer success has been significant, and the products are more comprehensive and feature rich than ever.
Oracle Cloud CX industry solutions offer:
- Communications – Oracle Digital Experience for the communications industry helps media and communications service companies accelerate digital transformation through powerful modules – omnichannel care and commerce, Enterprise catalog and design, and Open Digital Architecture. Quick business innovation is enabled without much IT and offers a simple yet comprehensive solution architecture that maximizes business and IT agility. Explore
- High Tech, Manufacturing and Automotive – Oracle CX for High Tech, Manufacturing, and Automotive connects customer data with asset data for a holistic 360-degree customer view. It improves sales and service experiences, provides new revenue opportunities, and better supports partners, resellers, and dealers. Explore
- Retail and Consumer Goods – Oracle CX for Consumer Markets provides tailored solutions for the consumer goods, retail, and wholesale distribution segments. Innovate rapidly to meet the needs of your customers where they are, whether in store, on their mobile apps, through chatbots, or remotely, in their moment of need. Decide what goods or services to offer and how much to charge for them in order to expand and meet consumer demands and explore new business models. Explore
- Financial Services – Oracle Cloud CX for Financial Services gives a complete view of customers and enhances digital interactions and improves conversion rates with solutions built specifically for the banking, insurance, and wealth management industries. Explore
- Public Sector – Through a combination of self-service, automation, remote work orchestration, advanced case management, guided assistants, and smart knowledge creation and sharing, Oracle CX solutions help the public sector address the challenges facing society today and into the future. Explore
Advantages of Oracle CX Platforms
Oracle CX platforms deliver a more comprehensive set of capabilities,
- Connected Data – Customer data is unified and augmented across the entire customer journey. From awareness to purchase to support to advocacy, insights are delivered through dynamic dashboards on any device.
- Connected Intelligence – With Oracle, achieve a higher level of customer insight through advanced capabilities like AI, chatbots, IoT, analytics and forecasting, predictive analytics, comprehensive sales planning, supply chain inventory, service logistics and performance management.
- Connected Experiences – Power continuous and consistent omnichannel experiences with Oracle across social, marketing, sales, service, and commerce no matter where, when, or how a customer begins the engagement. Online, offline or a third-party customer data sources can be brought together to create a single, dynamic view. Oracle CX Unity is built in with artificial intelligence (AI) and machine learning. It delivers timely intelligence about customers to optimize their brand experience across marketing, sales, and service.
- Fewer Customizations – Customizations can add up to more implementation costs. Upgrades for infrastructure, testing, storage, sandboxes, etc. leading to huge additional costs over time. Oracle delivers high level of precision for deployments while significantly reducing the number of customizations required.
- Cleaner Unified Data – Oracle’s business intelligence (BI) and artificial intelligence (AI) tools are fully embedded and integrated with Oracle CX Sales and Oracle’s robust Customer Data Management capabilities. This gives a clean, complete, and de-duplicated customer data like no other.
Oracle Service Cloud – An Intro
Oracle Service Cloud is a perfect solution for customer support that improves customer satisfaction and helps team members serve their customers in every possible way. It delivers complete, out-of-the-box, cross-channel customer service in the cloud. Stronger and powerful customer relations can be built with this comprehensive unified platform for email, phone, chat, web, social media, or any mobile device. A Brief Evolution of Oracle Service Cloud
As the EVP of Oracle CX and Data Cloud rightly said, now, “Every function in the front office has to move faster than ever before. It is time to think differently, when the consumer spending is down, the future is uncertain, and digital engagement is of ever-increasing importance“
Organizations need to adapt quickly to changing data and challenging customer expectations. They need to encourage the transition from the contact center to provide remote service. Oracle’s response to digitalize effectively collaborates perfectly to replicate the effectiveness of current customer interactions and service departments. It helps them to extend those best practices across an enterprise as a whole.
Digital Trifecta – The Need
The pandemic has turned almost all industries and departments on their heads. Especially, the service department that is being shut down at a moment’s notice and reopen with remote workers that are overrun with requests.
Digital Trifecta – The Features
To meet the reinvention of customer service/experience and to prepare the customers for the future, Oracle introduced Digital Trifecta that helps deliver accurate service at scale by automating service. Digital Trifecta revolutionizes the following:
- Helps service teams deliver accurate service
- 24/7 assistance regardless of location (due to knowledge, intelligent advisor, and digital assistant products)
- Intuitive assistant that can help resolve problems instantly
Below are the features of Oracle’s Digital Trifecta,
Knowledge Advanced (KA)
Oracle knowledge advanced helps clients and call center agents increase the pace at which information is developed. The easy-to-use authoring tool and rich media helps create information articles and materials that produce the best responses quickly.
KA helps gain productivity and scale with custom templates that are easy-to-build and point-and-click. Create the best possible information repository using a wide collection of content contributors. The subject matter experts can easily use a workflow engine to support a wide range of forms of content and custom specifications.
Intelligent Advisor (IA)
The Intelligent Advisor is a powerful decision automation solution that helps business users build the guidelines that support contact center agents to provide genuine personalized service. Each part of the customer journey can be controlled with Oracle Intelligent Advisor.
Through self-service platforms, call center, and partner channels, individualized service to the next generation is provided. IA reduces the number of questions and simple confusions by providing detailed reasons for automated advice and decisions while ensuring continuity and accountability. Adding on, when policies, laws, and regulations change, the effect on clients is easily understood.
Oracle Digital Assistant enables to build and deploy users’ digital assistants. These are AI-driven chatbot interfaces that assist users in natural language conversations to perform several tasks. More than one skill can be compiled for each digital assistant – focusing on activities like monitoring inventory, sending timecards, and producing expense reports. These digital assistants can then be deployed on a personal/commercial channel.
Digital Trifecta – Some Recent Solutions/Implementations & Architected by SoftClouds
Here are some interesting & innovative digital trifecta solutions that the expert architects at SoftClouds implemented recently:
Use Case 1 – One of the largest automakers in the world was trying to provide a meaningful customer experience but through systems that have data distributed everywhere. Its manual and inefficient access to information caused higher call center costs and agent frustration. It also did not have any portal available for customer interactions.
SoftClouds enhanced the customer service management process and implemented an automated & customized tool for dealers to resolve customer complaints with an efficient implementation. This facilitated a self-support process with the customer portal, provided accurate and timely knowledge to agents for better support & performance. An effective Dealer Portal was implemented to respond to complaints & better customer experience that reduced operational costs of Agents to a great extent.
Use Case 2 – A Global automotive company was experiencing an ineffective and age-old warranty management system. Its marketing & customer campaigns were being handled manually that took lots of time and were expensive. This resulted in increased operational cost due to huge call center volume and no customer portal for customer engagement.
SoftClouds helped with an automated repair campaign management solution that helped them get qualified leads. Oracle’s knowledge solution was optimized and implemented that reduced their call center traffic and cost. With Oracle’s intelligent advisor and digital assistant platforms, SoftClouds helped them automate the agent desktop experience for efficiency and created a customer portal providing a better customer experience.
Use Case 3 – One of the machinery industry corporations with nearly 40 years of development was facing hardships with an inefficient way of Product Handing. There was no relationship between product lines, nearly Non-Existent automated business process – everything was done manually and there was a high manual incident process, and costs.
SoftClouds implementation of the Oracle digital trifecta helped set up an effective product configuration for the customer. It also configured associated line items with product master, automated incident management process for faster & quick resolution of customer issues. This modernized digital customer service helped enhance the customer experience.
The Future of Customer Service
The service function must evolve from its traditional position into an anticipatory one, to deliver and allow new technologies to build a proactive readiness for business.
Customer support is evolving into a new world of automated and human assistants. Businesses focused on enhancing customer service have an 80% growth in sales. In the coming year, 55% of CX leaders are rising their technology spending to scale up their efforts. 78% want to shift to a proactive approach, and 50% are deepening their automation expenditure. With an emphasis on ROI, almost a third (30 percent) are planning to evaluate the effect of their team on customer retention.
In order to detect service flaws before they rebound as inbound complaints, this strategy includes data collection to provide granular feedback from consumer channels and purchasing experiences. Future-state metrics will also look to calculate avoided accidents rather than resolved incidents.
There was a quote that stuck out to me when preparing to write this, it said, “You will drive brand loyalty if you make sure their engagement with your business is smooth, fun, and constantly improving. If not, the best gift you will give your rivals would be your clients.”
A happy welcome to the digital age!
This blog was written by Mahesh Jeyakumar, Practice Director, CX Service at SoftClouds. Mahesh has extensive experience with CRM/CX Enterprise & Cloud Applications. He has a deep understanding of CRM/CX Platforms and has delivered multiple CX implementations globally for various industry verticals. Mahesh is very focused on quality customer relationships with a goal to transform complex problems to simple by creative thinking. High specialization in CX Service & Solutions.
SoftClouds is a recognized leader in CRM/CX transformation with experience in numerous Service Cloud Implementations with pre-configured best practice business processes for multiple verticals/domains.