The head of a global business software provider has claimed that analogue businesses are falling behind in the transition to digital processes.
Bill Wagner, the global CEO of LogMeIn, said that many businesses are struggling to transfer their systems and processes to digital.
As an example, he claimed one client, which he declined to identify, currently has a 24-step process for product transactions, with a goal in 2018 of cutting that down to 14 steps.
However, even this number of steps is complete overkill in the age where consumers demand simple purchasing processes and many firms have automated the bulk of their transactional operations.
“My kids should never be on hold in their life,” Mr Wagner told a press gathering in Sydney, noting that younger customers will find a different channel or simply walk away if they are put on hold.
He cautioned all business leaders to take seriously just how little “friction” consumers are now willing to tolerate in their dealings with a business.
Mr Wagner used frequently asked questions (FAQs) as an example of a labour-intensive process that can be easily and cost-effectively automated.
As well as providing consumers with the fastest possible response times to their queries, customer service and sales support staff will have their time freed up to deal with more complex and high-value customer interactions.
He added that while this will require customer-facing staff to be “much more trained” in future to deal with more complex interactions, the overall value to customers will be far more superior, and allow businesses to edge further ahead of their “analogue” competitors.
Adam Zuchetti is the editor of My Business, and has steered the publication’s editorial direction since early 2016.
Ask the Experts: Does automation stack up financially?
By Christopher Overton
Opinion: How bad do things have to get?!
By Adam Zuchetti
Business lessons from the All Blacks
By Steve Stanley