It is no secret that in the uncertain environment we live in, it is getting harder and harder for technology executives to deliver new and innovative strategies to acquire customer obsession. Forrester's Future Fit technology strategy was developed to help you be successful. Future Fit is an approach based on customer technological obsessions. Taking this approach to technology allows a company to quickly re-configure, re-imagine, and re-launch business structures, processes, and capabilities to best meet the needs of future customers and team members with adaptivity, creativity, and resilience. When this strategy enters a partnership with conversational AI, the opportunities are limitless. They work in tandem to future-proof your business.
As various companies continue to increase awareness of this approach and begin to take advantage of it, they often find themselves wondering, "Who exactly has successfully implemented this strategy from end to end?"
DRUID can ensure that your institution has a future-proof and future-fit tech strategy to propel your business forward, modernize processes, help reduce technical debt, speed its continuous transformation, and of course, make the company more adaptive, creative, and resilient. You can check out our guide by following the link below and continue reading for an overview of the three key drivers of a future-fit technology strategy.
A Closer Look: Three Key Drivers of a Future-Fit Technology Strategy:
#1. Platforms to Minimize Risks and Maximize Time-to-Value
A critical pillar of any organization's future-fit technology strategy is utilizing modern technology platforms, like DRUID, to propel its continuous modern transformation, drive collaboration and innovation with its partners, and leverage the flexibility of artificial intelligence (AI) to deliver an abundance of resilient services.
Investing in intelligent agents allows customers to save time on the most basic of tasks and enable them to become more involved in their business processes. For example, banks investing more time into modernizing their platforms and processes are gaining popularity due to the influx of customers who desire independence for handling their own banking transactions.
Most customers prefer seamless processes and often like to conduct transactions independently or without the physical hassle of having to visit a business's location or wait in a call queue for a representative. Conversational AI-equipped platforms are beneficial for both customers and companies overall.
#2. Practices that Put Customers First and Focus on Customer Experience (CX)
A successful future-fit tech strategy puts a significant emphasis on training both the business and technology teams. Modern ways of working (like remote and hybrid) are creating new behaviors and orchestrating a more customer-obsessed culture that dramatically emphasizes the development of core values. New applications or practices enable organizations to constantly deliver innovation much faster with cross-departmental teams and shared roles and responsibilities.
In a 2018 report by Microsoft, 61% of consumers stated that they have stopped conducting business with a brand because of their poor customer service. Thus, It is vital that companies adequately train their customer support teams to handle the ever-changing customer service landscape and growing customer requests.
Unlike human agents, conversational AI-enabled platforms can work 24/7 and respond almost immediately to customer requests. This emphasizes the importance of each customer to the business and makes them feel like a priority.
DRUID-built platforms use AI, machine learning, and natural language processing (NLP) to mimic human interaction in understanding and responding to various customer inquiries. DRUID-built solutions can handle a range of queries, including but not limited to questions regarding their current statement, an unauthorized transaction, status of service outages, current offerings, and much more. Our solutions offer a modern take on improving and enhancing the entire customer experience, minimizing wait times, and having around-the-clock support available. Incorporating conversational AI into your business's service can:
- Ease stress and pressure on your customer support team and have a human agent take care of the more complex issues and AI handle the less complex ones
- Increase customer satisfaction by up to 35% due to faster response times and personalized interactions
- Enable up to 30% in operational costs optimization
#3. Partners that Collaborate and Innovate
Any business's future value depends on how fast and well it can leverage technology, modernize processes, build new platforms, and offer a unique and excellent customer experience, operations, and offerings. Most businesses are aware that they cannot do these tasks alone and seek assistance from experts in conversational AI and conversational agents. Companies can work closely with their partners in conversational AI to explore how to best use the technology, customize it to fit the specific needs of the business and their customers, and how to revolutionize their products or services for their customers.
It is also important to choose a company that offers the right conversational AI solution for your business. Not all conversational AI technologies provide the same benefits. Look out for the following features when choosing a platform for your business:
- Scalability: As your business grows, its technology must keep up. Choose a conversational AI solution that utilizes an enterprise multi-tenant platform, which licenses thousands of bots to be deployed simultaneously.
- Customization: Every industry is different; A retail business might seek a more interactive customer experience and automated product suggestions, while a healthcare organization must maintain HIPAA compliance. Choose a provider that allows you to customize your platform to your business's specific needs, from use cases to rules, regulations, and requirements.
- Data security and deployment models: Financial institutions might need on-premise data to meet certain government regulations. Other organizations may prefer a cloud or hybrid model. Your conversational AI vendor should provide multiple data security options that could work for your business.
- Integration capabilities: Look for a conversational AI solution that can be integrated with any internal or third-party applications your company already uses. This way, data can be gathered and updated from anywhere, anytime. This assists your business in consistently surpassing customer expectations by providing personalized, relevant interactions.
When coupled with conversational AI, a future-fit technology strategy can significantly benefit your business in ways such as increased customer acquisition and engagement, innovation of new business models, increased team member engagement and productivity, and more. The Future-Fit technology framework is crucial in propelling your business forward, modernizing practices, remaining current and relevant, and innovating new approaches to research, insights, and collaboration, all of which can help you solve even the most complex technology challenges you may face within your business.
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