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Customer and employee experiences are at the center of attention

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Customer and employee experiences are at the center of attention

Managers rely on cloud-based solutions, AI and machine learning to deliver a good experience for their employees (Graphic: CC0 Public Domain)

Businesses are quickly accepting that customer experience and employee experience can be critical to success. They distinguish companies from the competition and are key conditions for good performance. A new study has confirmed that employee satisfaction is becoming an increasingly important goal in companies’ technology equipment.

Customer experience remains a top priority for bosses, according to NTT research. 95% of the world’s organizations already have a designated top-level executive responsible for this particular area. Employee experience has grown in importance, entering the top-3 priorities for CEOs.

The IT infrastructure and services company’s analysis is based on research across 25 countries across five regions, interviewing 1,442 executives and influencers across a range of business roles, including IT security, digital, IT, operations and management. It covers 14 sectors, including retail and wholesale, financial services, healthcare, communications, manufacturing and technology.

Focus beyond conventional CX parameters

The main finding is that over the past decade, faced with the Covid-19 pandemic and significant global macroeconomic developments, businesses across industries have stepped up their efforts to deliver a high-quality customer experience (CX).

Businesses are expanding their focus beyond conventional CX parameters to improve the overall customer perception of the organization in every form of contact and interaction – and many of these forms are digital.

NTT notes that a good customer experience has been proven to build long-term trust and increase customer loyalty. This has a measurable effect on cash inflows. So it’s not all that surprising that CX is becoming a priority for C-level executives. Naturally, this leads to investments in technology that improve the customer experience at every touch point between a customer and a company.

Evolutionary development

However, the understanding of customer experience is now undergoing an evolutionary development. Organizations looking to improve CX consider improvements that include improving their own employee experiences (EX). The technology base for this is based on cloud-based solutions, AI and machine self-learning.

Specifically: 92% of CEOs interviewed for the report agree that CX improvements will directly impact their bottom line. When it comes to employee experiences, that percentage rose to 91%. 95% of organizations now have a senior manager responsible for customer experience (up from 75% in 2021).

However, self-criticism also seems to be on the rise: 80% of organizations in the NTT survey say that CX and EX are currently their “weak spot” and that this is having a negative impact on their business.

The cloud is in charge

Looking at the technology solutions that will change future opportunities for a better customer experience, the study points to cloud technology at the top of the list. It is ranked ahead of AI (in second place) and predictive analytics.

Looking ahead, the analysis reveals that over two-thirds (69%) of CX interactions will continue to require some form of human interaction and support in the near future. This again highlights how important the employee experience is to the well-being of a business. Therefore, analysts say, employees should be given the right tools and knowledge no matter where they work.

New technological requirements

About 96% of organizations agree (45% – strongly) that developing new models of work and employee engagement also lead to new technological requirements. Top performing firms are nearly three times more likely than lower performers to include their cybersecurity teams in the CX and EX decision-making process.

“Over the past few years, we’ve seen a growing connection between CX and EX and the need to address them from a technology perspective,” said Amit Dhingra, executive vice president of managed networks and collaboration services at NTT, commenting on the study’s findings.

“Our data shows that companies that invest in technology to improve CX and EX are significantly more likely to be ahead of the market, raising the bar on customer and employee satisfaction,” concludes Dhingra.

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