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Industry Research : BriteBill Study: Service Providers Are Missing a Critical Digital Transformation Opportunity

#contactcenterworld

BriteBill, An Amdocs Company (NASDAQ: DOX) and provider of billing and communications software for utilities, communications and media providers, released the results from a study of 40 Tier-0 and Tier-1 service providers across EMEA, North America and Asia. The survey, commissioned by BriteBill and conducted by Omnisperience, revealed that although service providers are moving at record pace to innovate, a significant engagement channel - the bill - is often overlooked in their digital transformation strategies.

Predictably competition is a major driver for this innovation. However, the study found that 63% of service providers now say their biggest challenge in the next 24 months is competing with new, non-traditional rivals. To combat these digital native industry disrupters, the strategy most service providers intend to take is to differentiate through an improved customer experience (88%), whilst also developing new products (90%).

Although this demonstrates a commitment to a more customer-centric business model, less than half (48%) of the 40 Tier-0 and Tier-1 service providers surveyed felt that their customers were currently the main beneficiaries from digital transformation efforts. This shows that while service providers are improving IT and processes, these innovations are often not directly linked to customer experience improvements, delaying benefit realization. This is further reinforced by the fact that 50% of the survey respondents said they needed to increase their investment in customer experience.

"To capture maximum digital transformation benefits and achieve full return on investment (ROI), service providers need to harness and capitalize on both operational and customer engagement innovations," explains Teresa Cottam, Chief Analyst at Omnisperience and author of the report.

"Service providers face conflicting investment demands, from upgrading their networks to creating new revenue streams and enhancing the customer experience, which can take years to show value. However, they're beginning to realize that by focusing resources on customer experience blackspots such as on boarding processes and billing, they can make a more immediate impact for often modest levels of investment."

Minimizing an experience blackspot

When it comes to billing as a customer engagement channel, the study found that bills continue to be one of the most persistent customer experience issues. Only 23% of service providers currently feel their bills are a strategic asset to their company, with the majority (75%) saying their bills are not evolving in line with their business. To improve the billing experience in the next 24 months service providers are focusing on four key areas: increasing automation (100%), providing more clarity and advice to customers (75%), personalizing information and offers (38%), and communicating the value of services delivered (23%).

"Service providers told us that making bills more intuitive is a necessity, with 95% believing it would significantly reduce calls to care from frustrated customers. As they bring new products to market, service providers are challenged to clearly communicate these services and their value. Failing to do this effectively puts service providers at risk of feeling the sting in the tail of their own innovation," continues Cottam.

The research also revealed that 50% of service providers intend to deploy artificial intelligence (AI) to improve customer experience in their call centers and reduce call waiting times, but Cottam cautions this is not a cure-all. "Billing inquiries tend to be too complex for today's AI to deal with. It is therefore essential that service providers tackle the root cause of the problem in the shape of unclear bills."

"It's good to see that service providers understand the importance of customer experience to their digital transformation and innovation programs," said Becky Byrne, Head of Product Management at BriteBill. "However, in the rush to transform their businesses, many have completely overlooked the bill's role as the most common and critical customer touchpoint. Improving and innovating their customers' billing experience is one of the most tangible ways service providers can communicate the benefits of digital transformation and innovation. This in-turn transforms bills from dull financial statements into strategic customer engagement tools."

#contactcenterworld

Posted by Veronica Silva Cusi, news correspondent
Source: http://www.prnewswire.co.uk


About Brite:Bill:
Company LogoFounded in Dublin, Ireland in 2010, Brite:Bill is a leading provider of billing communications products that create positive interactions with CSP customers; pre-empting questions, tackling issues and highlighting appropriate new products and services.
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Today's Tip of the Day - Keep Cost In Perspective

Read today's tip or listen to it on podcast.

Published: Wednesday, October 31, 2018

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2024 Buyers Guide Speech Technology

 
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Call Center Studio

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Call Center Studio is the world’s first call center built on Google and is one of the most secure and stable systems with some of the industry’s best reporting. It is one of the most full-featured enterprise grade systems (with the most calling features, one of the best call distribution, outbound dialing features and integrations—including IVR, AI Speech Recognition, blended inbound/outbound calling and includes Google’s new Dialogflow and Speech API. Call Center Studio is the absolute easiest to use (with a 10 minute setup), and is the price performance leader with lower equipment cost and less setup time.


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Daisee

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Daisee builds technology that empowers people to solve problems by making interactions simple and smart so they can have a more significant impact, be more productive and be better at what they do. We believe incremental improvements carry huge potency and provide exponentially greater change for the better.

Genesys customers can now automate risk and quality management using Daisee’s speech and sentiment analytics and remediation workflow software. Daisee helps improve customer experience, ensure regulatory compliance, identify missed commercial opportunities & training requirements as well as provide valuable insights back to the business directly from the frontline – the true voice-of-...
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Eckoh

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Advanced speech recognition and natural language expertise that routes callers by simply asking ‘how can I help you?’. It allows customers to use their own words to ask for what they want and steers them to the right place.

Menus are eliminated altogether and contact centres can use a single inbound telephone number.
 

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