How Knowledge Management Can Transform Your Customer Experience

Presentedby:KrishnaBaidyaJasonduPreezSteveNu8all

Presented by…

KrishnaBaidyaAssoc.Director,HeadofCustomer

ContactResearchFrost&Sullivan

JasonduPreezVPEngagementManagementAPAC

Verint

Dr.SteveNu8allHeadofCustomerExperience

ResearchFiLhQuadrant

Content 1.  WhatisKnowledgeManagementandwhydoesitma8er?

2.  WhatarethebenefitsofaneffecUveKnowledgeManagementsystem?

3.  WhereareyounowwithyourapproachtoKnowledgeManagementandwheredoyouneedtobetosucceed?

1 WhatisKnowledgeManagementandwhydoesitma8er?

In a changing business environment, managing and delivering on customer expectaEons are becoming one of the top prioriEes for organisaEons.

Today’s digital customer expects the following from an experience: •  Servicesthatareeasytoaccess•  Afastandresponsiveservice•  ImmediateresoluUon•  Expertsupportstaff•  Personalisedandcontextualised

services

But,thegapbetweentheseexpectaUonsandtherealityoftheexperienceisgrowing.

What is Knowledge Management and why does it maJer?

WhatisKnowledgeManagement?AnorganisaUons’strategies,policiesandprocessesthatareinplacetocreate,transferandretainknowledge.

WhydoesKnowledgeManagementma8er?Awell-designedKnowledgeManagementsystemplaysacrucialroleinbridgingthegapbetweencustomerexpectaUonsandanorganisaUon’sabilitytodeliverontheseexpectaUons.

2 WhatarethebenefitsofaneffecUveKnowledgeManagementsystem?

An effecEve Knowledge Management system should enable organisaEons to strengthen customer loyalty, retenEon and lifeEme value by: •  Providinganexperiencethatdelightscustomers•  Empoweringemployeesthroughenhancedengagement•  DeliveringaposiUveimpactonbusinessoutcomes

For Your ConsideraEon

HowdoesyourorganisaUon’sKnowledgeManagementsystemimpacttheCustomerExperience?•  Nosignificantimpact•  Amoderateimpact•  Asignificantimpact

ResearchbyFi-hQuadrantBase:Allrespondents(n=1061)

12% 19% 69%

Disagree(1-2) Neitheragreenordisagree(3) Agree(4-5)

EffecEve use of Knowledge Management Pleasetellusifyouagreeordisagreewiththefollowingstatementaboutknowledgeinyourorganisa6on–OutcomesYourorganisaUonusesitsknowledgetoprovideasuperiorqualityofservicetoitscustomers

Benefits to Customers

•  Customerhistory–noneedtorepeatinformaUon/data

•  Contextualknowledge•  Shortercalls;shorterAHT•  Fewercalls;higherFCR•  Be8erandmoreaccurate

answers•  Personalisedservices

CASE1LeadingEuropeanmobileretailerssawastarkincreaseincontactdeflecUonof27.3%,whilemarkedlyimprovingNPSby12basispointsaLerimplemenUngaknowledgemanagementsystem 12points

NPSincreasedby

Benefits for Support Staff •  Easy-to-useinterface•  Contextualknowledge•  UnifiedinformaUonrepository•  Guidedscripts•  ShorterAHT•  Informedandempowered

agents–higherissueresoluUon•  ReducedtrainingUmes•  Fewerangrycustomers•  Real-Umeviewoftheir

performance

CASE2Oneofthelargestglobalinsuranceprovidersrealisedamassivedecreaseinagenttrainingcostsby50%,andasharpdropof30%incomplaints

30%Dropincomplaints

Benefits to OrganisaEon

•  IncreaseinsaUsfiedcustomers•  Increaseinrevenue•  EnhancedagentproducUvity•  ShorteragenttrainingUmes

andassociatedcosts•  Loweragentturnover•  HigherproducUvity•  Real-Umemonitoringand

reporUngtools

CASE3AmajorAustraliaoutsourcedmarkeUngservicescompanyrealisedasignificantdropof25%inAHTandadramaUcreducUoninagenttrainingUmetooneweekfromfouraLerdeployingaknowledgemanagementsoluUon

CASE4

25%

AHTdropof

TopAmericanconsumerelectronicsbrandsignificantlyreducedcallmisrouUngby40%andsawasharpriseinrevenueby5.9%aLerknowledgemanagementimplementaUon

5.9%Riseinrevenue

ResearchbyFi-hQuadrantBase:Allrespondents(n=1061)

EffecEve use of Knowledge Management Pleasetellusifyouagreeordisagreewiththefollowingstatementaboutknowledgeinyourorganisa6on–Outcomes

17% 25% 58%

15% 31% 54%

14% 25% 61%

15% 34% 50%Disagree(1-2) Neitheragreenordisagree(3) Agree(4-5)

Your organisation has successfully used its existing product, service and process knowledge to expand into new markets

Your organisation is very effective at using existing knowledge to develop new products and services

Your organisation has gained competitive advantage over other organisations in its industry through the leveraging of its knowledge

Your organisation has increased its profits by leveraging its knowledge

3 WhereareyounowwithyourapproachtoKnowledgeManagementandwheredoyouneedtobetosucceed?

15%

20%

24%

21%

21%

19%

64%

59%

57%

Disagree(1-2) Neitheragreenordisagree(3) Agree(4-5)

How Australian OrganisaEons Approach Knowledge Management Pleasetellusifyouagreeordisagreewiththefollowingstatementsaboutknowledgeinyourorganisa6on

ResearchbyFi-hQuadrantBase:Allrespondents(n=1061)

Employees at your organisation are encouraged to preserve, share, or increase the organisation’s knowledge

Your organisation’s culture encourages employees to share knowledge

Employees in your organisation have access to all the information required to effectively service your customers

Building the pillars for the ideal Knowledge Management system

Asinglesystemadoptedbusinesswide

FullyintegratedwithotherenterpriseapplicaUons

Arobusttechnologyplaqorm

OpUmisesCustomerExperience

IncreasesOperaUonalEfficiency

EngagesEmployees

ReducesCost-to-Serve

RetenUonLoyalty

Underpinned by a holis0c approach to Knowledge Management that strengthens customer life0me value

For Your ConsideraEon

DoesyourorganisaUonhaveasingleKnowledgeManagementsystemthatisfullyintegrated?1.  Yes2.  Partly3.  No

Why are the benefits not realised?

Barriers•  Absenceofaclearcustomer

experiencestrategy•  Standaloneknowledge

managementlackingcustomercentricity

•  Sca8eredknowledgeresulUngininconsistencies

•  Inadequate/outdatedinformaUondamagingtrustworthinessandreducingfutureusage

•  Lackofcompetenceincapturinginsightsandimprovingserviceexperience

Right partner is crucial for Knowledge Management implementaEon

ImplemenUngKnowledgeManagementincustomerserviceorganisaUonscanhaveaprofoundeffectonthequalityandefficiencyofserviceoperaUonsanddeliverquanUfiablebusinessbenefits

APPROACH

Knowledge- Centred

OrganisaEon

UserExperience Content

Culture Metrics

Governance Engagement

Five criEcal quesEons to leverage enterprise knowledge for delivering an enhanced customer experience

1. ü 1.DoyouhaveaclearunderstandingofknowledgeacrossyourorganisaUon?

AggregaUngallknowledgeacrossanenterpriseinasinglesystem,integraUngwithenterprisesystems,andcentralisingallofthecontenttoenhanceknowledgeaccesshelpstoacceleratelearningandensuresconsistencyofinformaUonacrossalltouchpoints.

ü .

ü .

ü .

2. ü 2.IsknowledgeinyourorganisaUonaccessibleandacUonable?

TherealvalueofenterpriseknowledgereliesontheappropriatenessofanswersinissueresoluUonsandtheeasyaccessibilityoftherightinformaUonattheUmeofneed.ItisalsoimportanttohaveafeedbacklooptodrivequalityandperformanceofexisUngknowledge.

3. ü 3.IstheexisUngknowledgewithinyourorganisaUonupdatedanduseful?

ItisofutmostimportancethatinformaUonwithintheknowledgebaseremainsfreshandrelevant.Theknowledgebaseneedstobeeasilyupdatedandmaintainedtotakeadvantageoftheteam’scollecUveexperiencetodate.

4. ü 4.IsKnowledgeManagementpartofyourworkflow?

OLenKnowledgeManagementiniUaUvesfailastheylackupdatedinformaUon.ThesoluUonshouldfostercollaboraUonbyshiLingthefocusfromanindividualtothewiderteam,andbyintegraUngthesoluUonwithintheworkflow.Eventually,thiscanbefurtherenhancedbyleveragingautomaUon.

5. ü 5.Areyouabletomeasuretheimpactonbusinessperformance?

OrganisaUonsmustcloselymonitortheirexisUngknowledgesystemsanditsusageandeffecUvenessofdeliveringthedesiredoutcome.Otherwise,organisaUonsarelikelytofalterwhenitcomestoidenUfyingopportuniUestoimprovebusinessmetrics(e.g.,deflecUonrate,AHT,FCR,ASORA,andNPS).

For Your ConsideraEon

WhereisyourorganisaUonatinhavingaclearKnowledgeManagementstructure?1.  Attheforefront2.  Roomforimprovement3.  Considerablybehind

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