In our incredibly fast-moving and highly competitive economy, any business that wants to remain ahead of the pack knows that customer satisfaction is one of the main keys to increased revenues and greater profitability. This is especially true for enterprises where contact centers play a pivotal role in their business model.
There’s no doubt about it. The global contact center market is booming and will continue to see massive growth thanks to the increased adoption of advanced technologies by savvy enterprises. In fact, some analysts predict that the sector could be worth US$481 billion by 2024.
However, despite this surging upward trend, today’s contact centers still have to contend with challenges that, if ignored, can adversely impact the bottom line in a big way. These issues, which will be familiar to anyone in the contact center industry, include:
- Increasingly growing customer expectations
- A notoriously high employee turnover rate
- An over-reliance on multiple legacy applications
- The failure to exploit upselling and cross-selling opportunities due to a lack of customer information
The wide recognition of these simple truths is a huge reason for the popularity and success of Customer Contact Week (CCW), the largest global customer contact event series out there. This year, CCW Europe was held in one of the continent’s most vibrant and happening cities, Amsterdam, where more than 300 attendees gathered to hear some 70 or so speakers share expert insights into the hottest trends in the customer contact world.
Because robotic process automation (RPA) is the ideal technology for addressing the contact center challenges mentioned above, it was only natural for Kryon to present its innovative full-cycle, modular RPA solutions at CCW Europe. And I was delighted to be part of the team covering the event.
I know it sounds like a bit of a cliché, but one of the things I like most about my job is getting out and about and feeling the buzz in the field. It’s always great to talk to other people in the industry, catch the latest developments firsthand and, of course, meet potential customers to hear about their challenges and needs. And I’m happy to tell you that, in this regard, CCW Europe definitely didn’t disappoint.
First of all, let me start with some big news. Kryon was delighted to be placed a very close second – out of five exceptionally strong contenders – in CCW’s Disruptive Technology of the Year vendor category. For us, this was a massive vindication of our strategy of shaking up the automation market with creative solutions that lend themselves perfectly to the radical transformation of any business in any vertical.
Secondly, I want to share some thoughts about where the customer contact industry is headed. It’s quite clear to me from what I saw and heard at CCW Europe that the old adage about the customer being king has quite rightly evolved into something else: the customer experience is king. Any company that understands this will have a decisive advantage against its competition.
But what does this actually mean in practice?
If we take a look at the current state of play, we can discern what might be termed a perfect storm brewing on the horizon. The switch to digital instead of traditional channels is colliding with increased regulation (such as GDPR) and a new era of value creation driven by data and analytics, promising (or threatening) to revolutionize the entire customer contact industry. In fact, it’s probably fair to say that the world of customer contact and customer experience has never been through such a period of rapid change in its long history.
As a result of this tectonic shift, it is ever more important to focus on people (both customers and workers), processes and technology – and this holy triangle is especially critical in the contact center domain. Automation in general, and RPA in particular, is exactly what the doctor ordered when it comes to delivering a superior customer experience, driving business growth and increasing revenue potential.
For any contact center looking to surf the wave of change and come out on top, Kryon ticks all the right boxes by being the only vendor able to provide an AI-powered (and GDPR-compliant) full-cycle RPA solution. From Process Discovery™ to Unattended, Attended and Hybrid automation, Kryon’s automation suite finds and automates key processes quickly, freeing up your customer service representatives to offer faster and more personalized service, leading to excellent customer satisfaction scores and higher revenues.