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SG50: What does the future hold?

Richard Spence, Managing Director, ASEAN, Avaya | Aug. 13, 2015
As Singapore celebrates a milestone, and contemplates the next 50 years, here are three ways in which businesses can achieve future success.

Engaging today's savvy consumer
While Singapore's Smart Nation goals urge companies to achieve new standards of efficiency, additional pressure comes in the form of the next generation consumer who is now more discerning than ever. A recent piece of research conducted jointly by Avaya and BT, entitled "Autonomous Customer 2015: On hold for Intelligent Customer Service" revealed the shift in Singapore consumers' behaviour with 81 percent of users stating they buy more from companies that provide them with convenient customer service and one in five choosing social media for customer service. Interestingly the report also found that 70 percent of customers in Singapore expect a response on social media channels within 15 minutes. Today's customers are embracing new technology faster than the organisations that serve them, and customers want to be engaged across these channels in real-time.

As a result, companies are tasked with streamlining the chatter into an integrated omni-channel approach, where the content of each of the different channels used is available and consistent, and creates a holistic experience for the customer. Accurate analysis can make the difference between success and failure in delighting customers, especially for the mid-market which is likely to have limited financing and access to domestic markets compared to larger enterprises. The goal is a fully engaged and loyal customer, one who will not only seek information from the company, but will also be driven to maintain a proactive relationship, returning often and providing feedback that can help the company better meet and exceed their needs.

Creating dynamic team engagement and encouraging internationalism
Delivering better levels of engagement within individual teams is key to achieving a dynamic solution-oriented workforce. With more companies adopting the distributed workforce model, effective communication capabilities that reduce barriers and support engagement everywhere have become more critical today. Singapore topped the World Economic Forum's Network Readiness Index 2015, and businesses here are well poised to take advantage of the infrastructural and policy support provided by the government.

The success of these strategies has a direct effect on the consumer experience; consolidating efforts and increasing the efficacy of product delivery. The Pan Pacific Group provides a perfect example. With employees scattered throughout the hotel, having a Unified Communications (UC) platform is essential to providing reliable connections and enabling real-time collaborations to provide rapid guest solutions. By reducing redundancies and repetition, the Pan Pacific Singapore was able to reduce 80 percent of its customer service costs.

Singapore's first 50 years have been full of dynamic growth, energy, and constant evolution. The rate of change is only accelerating. By arming themselves with the right tools now to embrace that rapid change and engage fully with customers and employees, businesses throughout the country can look forward to a future that is equally exciting.

 

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