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Table of Contents 03... Abstract 03... Introduction 04... The Need 04... Business Drivers 05... Key Imperatives 05... Oracle 07... Value Levers for Management 08... Academy for Transforming Customer Experience 09... Management Maturity Model for Transforming Customer Experience 10... Business Benefits 10... Conclusion 10... References 11... About the Author 11... About Wipro Ltd
Abstract Oracle (InQuira) provides knowledge management and customer self-service products, that improve the efficiency of customer interactions right from customer support to sales, by allowing information to be located faster. Oracle, has patented its natural language process and semantic search technology, which is the foundation of most of their products. Their motto is to provide an integrated suite of proven solutions that deliver a comprehensive and highly personalized experience for every customer, across all channels. This white paper talks about how to transform Customer Experience in this Digital World using Oracle. Introduction Management, is a discipline that promotes an integrated approach to identify, manage and share information about an enterprise or its knowledge assets, based on relationships amongst people and information that enable learning. Customer experience, is the sum of all experiences that a customer has with employees, partners or suppliers, investors and other customers, over the duration of that relationship. To create a high-performance workplace and enable better customer experiences, organizations need to transform interactions with the above mentioned group of people by integrating information, knowledge and learning that can enable collaboration. 3
The Need 72% 52.4% 88% Customers prefer using a company s website to answer their questions. Customers find the information they need online Customers say they want to increase the spending if their issues are resolved quickly and easily on the web However, most companies are not doing enough to improve their Web and social support sites, or guide customers to take advantage of self-service options that best fit their needs. This is a costly mistake. 65.6% 94% Customers have achieved Web Self Service Success Rates after investing in transforming their knowledge and Web Self-Service Tools. Customers expressed intent to re-purchase after having a successful Web Self-Service 89% Customers withdraw their business after one bad experience. $22mn Saved on unnecessary channel escalation after having a successful Web Self-Service Business Drivers Traditionally, the focus of customer experience has been around three primary areas: Sales Marketing Service In the digital world, with the shifting axis of customer relations, both internally and externally, customer experience focuses on the following areas: Strategies centered around customer involvement on digital platforms that enable them to find the right information Strategies that cater to profitable pricing due to conversations on social channels that increase Return on Investment (ROI) Innovative products that are available anytime, anywhere that enable real-time problem solving Insights into data usage and analytics that enable tracking patterns for cross-sell and up-sell Social experience design that enable easy and intuitive customer experience Digital collaboration that enable unstructured data islands into centralized learning Progressive customer service that empowers service representatives 24x7 4
Key Imperatives Although many companies recognize the importance of a more effective use of their knowledge, most struggle with where to start STRATEGY Which factors are critical for my business that can be addressed by Learning and? Which adds the most value? What are the highest priority initiatives? PEOPLE How do you create a culture for knowledge through sharing? Which people need to be empowered to contribute the right knowledge and learning? Are priorities aligned with measurements KM IS NOT A TECHNOLOGY / DATA / DOCUMENT MANAGEMENT PROCESS Are the right processes in place to capture, refine and create knowledge? How to disseminate, share and apply knowledge to deliver business value? TECHNOLOGY What knowledge tools and processes are currently in place? What knowledge tools are needed to enable the environment? Oracle Oracle for Web Self-Service is an intelligent intent-based solution that offers complete lifecycle management of the self-service experience. Its automated intelligence combines actionable insight into customers intent with concierge-quality assistance that helps customers rapidly find the right answer. The result is higher customer adoption, fewer calls to the contact center, increased satisfaction, and exceptional customer experiences. Oracle s Natural language processing (NLP) is a field of computer science that entails artificial intelligence, and linguistics concerned with the interactions between computers and human (natural) languages. As such, NLP is related to the area of human computer interaction. There are however, many challenges in NLP involved in the understanding of natural languages, that is, enabling computers to derive meaning out of human or 5
UNDERSTAND Deliver highly relevant, accurate answers with insight into the customer intent. LEARN Understand the customer behavior to improve the experience. ANSWER Provide a rich experience with personalized assistance, answers and offers. COLLABORATE Harness the power of social networking to enhance the experience. natural language inputs. What customers expect is a knowledgeable, helpful representative who can give them an intelligent answer fast. With Oracle solution for contact centers, all the information needed to resolve customer inquiries is just a click away. This application is provided within a single desktop interface for Customer Relationship Management (CRM) and agent intelligence, streamlining the process of answering customer questions. Rather than providing tools that increase an agent s each inquiry with real-time contextual data from enterprise systems to quickly pinpoint the most-relevant answers. The result is an exceptional service experience that eliminates costs spent on research time, increases first-contact resolution, improves agent productivity, and exceeds customer expectations. With Wipro s unique capabilities to orient knowledge across the four pillars of customer experience, Oracle can be extended to transform customer experiences to a whole new level. research time, it combines a unique ability to discover the true intent of 6
Value Levers for Management The four pillars of customer experience stated in the paragraph above are as follows: Customer Employee Investor Partner or Supplier Customer orientation usually reflects a salesperson s confidence to satisfy customer needs and his/her willingness to interact and provide service to them. Customer orientation is a key profitability factor to a business. It is not only important to create knowledge, but also transfer and internalize new knowledge to employees in every department of the organization and orient employees. An organization should enact knowledge transfer mechanisms to help its employees share, absorb, and apply knowledge to increase their ability and performance. Lack of appropriate mechanisms of knowledge management in firms hampers or even disenables effective creation and dissemination of market knowledge, and consequently appropriate reaction to this knowledge. On the contrary, successful knowledge management implemented in a firm creates conditions for processing, interpreting and using the knowledge to their advantage in market trends and events. Thus, integration of knowledge management and investor. Orientation might be a key competency to improve the competitive position of a firm. Only with an efficient knowledge management system can an organization learn continuously and make the best use of knowledge. Capabilities Success Stories Resources Maturity Models and Frameworks Geographic Orientation Legal Enterprise Project Management References Customer Orientation Social Learning Employee Orientation Retention Employee Engagement Capability Building Customer Satisfaction Visibility Legal Policies and Processes Management Social Collaboration Pricing Compliance Engineering Designs Raw Material Copyrights Issues and Dispute Resolution RFx Process Financials Partner and Supplier Orientation Supplier Collaboration Investor Orientation Branding Company News Legal Competitor Landscape Social Buzz Customers Suppliers 7
Academy for Transforming Customer Experience Wipro proposes a Academy, as the solution framework for continuous capability building. This will support the business benefits of this program, transforming customer experiences by integrating an Oracle solution with a robust learning solution aligned to key phases of onboarding, optimization and continuous improvement, along with the and employees. In each of the phases there are three core focus areas of capability building 1. End-to-end business process knowledge about an organization s core business functions. 2. on processes, systems, tools and soft skills. 3. Performance enhancement and proficiency on the job that entails mentoring. The above solution can be supported by the Academy platform where knowledge can be imparted, shared, stored and managed. The picture below shows the cornerstones of this framework: orientation of knowledge management with customers, partners, investors GLOBAL CUSTOMER SERVICES CENTER(GCSC) AND ATM SERVICE DESK Platform Modes Components Phases Onboarding Optimization Continuous Improvement Induction Communication Processes Tools Soft Skills Assessments Best practices Expert Opinion/Support Simulation-based Mentor Support Assessments Synchronous Action Learning Self Paced Learning Portal Learning Communities Repository KNOWLEDGE ACADEMY - TECHNOLOGY ENABLER Collaboration Customers Investors Partners Employees 8
Management Maturity Model for Transforming Customer Experience Many organizations have implemented the Oracle management tool or other standard knowledge management tools available in the market. The success rate of knowledge management initiatives is little known to these organizations, as they view knowledge management as a means for storing and retrieving knowledge, and not as a tool to disseminate and collate the right knowledge. Such organizations should seriously look at constructing a knowledge management maturity model. The following picture represents how organizations can support and evolve knowledge The proposed Maturity model seeks to fulfill the requirements of orienting customers, partners, investors and employees with Management. By identifying Key Performance Indicators (KPIs) and specifying the characteristics that form the underlying structure of the Maturity model, the model also pinpoints important areas of focus and suggests the need to refer to a proven Digital Transformation Initiative for improvising Management and transforming customer experience. management to transform customer experiences at each maturity level. Current State 0 Control Source Control File Systems Disparate and Disintegrated is Just Data 1 Portal Creation Assessment Ontology Implement Portals Transformational States 2 Collaboration Social Collaboration Supplier Collaboration Exploitation Sharing Conversion Increased Maturity 3 Trading Communities of Practice Learning Trading Governance Measuring Intellectual Capital 4 Anywhere Support as a Service Host Application and Hardware Portfolio Management Support Lifestyle Integrity Increased Cost Savings 9
Business Benefits The organizational advantages can be translated into expected monetary values based on conservative estimates of the improvements and benefits realized by the industry over the years. The benefits can be broadly grouped under several value themes which highlight the impact of various initiatives that would drive the same. Accelerate product delivery Enhance customer experience High performance workspace Build partner connections Improve operational efficiency Leverage global virtual project teams Improve collective intelligence Unified communication Collaboration and team work Faster time to competence Anytime, anyplace learning Improve time to productivity for support calls Mobilize speed and effectiveness Provide better business and customer experience Innovate emerging business opportunities, and many more Conclusion The right maturity model, that can implement a Academy and utilize Oracle s Natural Language Processing solution for the right search, along with process streamlining and technology portals, can enable organizations to reap numerable benefits. Management when applied to the four pillars of customer experience, in relation to customer, employee, investor, partner or supplier will transform customer experience to a whole new level, benefiting organizations financially. References 1. Wikipedia - http://en.wikipedia.org/wiki/customer_experience 2. Oracle http://technet.oracle.com 3. Forrester Reports 10
About the Author Sreenivas Kunapuli Email id: sreenivas.kunapuli@wipro.com Sreenivas Kunapuli is a Practice Manager at Wipro contributing to the Application Modernization practice. This primarily involves, transforming customer experience, enabling better business, technology transformation, Legacy Modernization and Value Chain Optimization of HR, Supply Chain and Management Areas. His association with Wipro spans over five years. He has worked in the areas of strategic planning, program and project management, best practice implementations and organizational development. Sreenivas enjoys reading research reports and analyzing trends from them. About Wipro Ltd. Wipro Ltd. (NYSE:WIT) is a leading Information Technology, Consulting and Outsourcing company that delivers solutions to enable its clients do business better. Wipro delivers winning business outcomes through its deep industry experience and a 360 degree view of "Business through Technology" - helping clients create successful and adaptive businesses. A company recognized globally for its comprehensive portfolio of services, a practitioner's approach to delivering innovation and an organization wide commitment to sustainability, Wipro has a workforce of 140,000 serving clients across 57 countries. For more information, please visit www.wipro.com. 11
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