One of the most daunting challenges confronting businesses is the management of increasingly varied customer expectations. Bharani Iyer, Vice President of Diversified Industries at HCLTech, emphasizes the critical importance of retaining customers by tailoring solutions to meet individual needs and preferences at the recent AWS Summit in Sydney.
Customer expectation spans across sectors, from retail to telecommunications, signifying the pervasive nature of this challenge. With digitalization and the COVID-19 pandemic accelerating changes in consumer behavior, businesses face mounting pressure to adapt swiftly and effectively.
Amidst the vibrant energy of the summit, Iyer shared his exhilaration, remarking: "Meeting these diverse expectations demands a profound understanding of consumer trends, agile business processes and innovative solutions that can keep pace with evolving demands.”
Failure to address this challenge can result in diminished customer loyalty and loss of market share. Hence, aligning strategies with the dynamic needs of today's consumers is imperative for businesses striving to thrive in an increasingly competitive landscape.
Navigating industry-specific trends
Across sectors such as telecom, media, energy and utilities, Iyer identified a wave of disruption driven by advancements like 5G and multi-access edge computing. Organizations operating in these domains are tasked with the challenge of adapting their business models to embrace innovation and cater to evolving consumer expectations.
“On the other hand, in asset-intensive industries like oil and gas, manufacturing and mining in Australia, the focus is on laying the foundation for a low-carbon footprint and reshaping value chains for sustainability-driven practices,” highlighted Iyer. He further highlighted the disruptive forces reshaping sectors like Telecom, Media, Utilities, Entertainment and more.
With advancements such as 5G and multi-access edge computing, organizations are compelled to reimagine their business models and embrace innovative solutions to stay competitive.
In addressing these challenges, Iyer explained the critical role of technology, particularly cloud technologies, customer experience enhancements and data analytics. Through collaborative efforts with customers and partner ecosystems, AWS Ecosystem is pioneering transformative solutions to drive operational excellence and enhance customer satisfaction.
Anticipating the future of technology
In the pursuit of operational efficiency, organizations are increasingly turning to technology. Iyer shared many success stories of how technology solutions, particularly those offered by AWS, are reshaping industries. He highlighted: "One example is that of the leading logistics player in Australia, for whom HCLTech developed a comprehensive digital platform serving both B2B and B2C sectors. This platform acts as the nerve center of the business, offering digitized track-and-trace capabilities with real-time notifications and seamless integration with warehouses.”
These innovations are driven by a focus on business process change and automation, representing a classic example of how technology can streamline operations and enhance efficiency. Another compelling example Iyer shared involved a leading oil and gas company, a global multinational, where AWS redesigned their Contact Centre solution.
"We've redesigned their contact centre solution, converted them from a legacy contact centre to digital contact centre, which provides superior agent experience, includes AI and now even GenAI, which significantly empowers agents to respond to customer needs far better and therefore, improve customer satisfaction," he added.
This transformation exemplifies how technology, particularly AI-driven solutions, can revolutionize customer service experiences, leading to increased satisfaction and loyalty. Additionally, he mentioned HCLTech’s collaboration with a leading US airline, where they implemented a connected operations capability underpinned by engineering an enterprise visibility and engagement platform that streams data from various airline code share partners and in near-real time allows the various operational functions to respond, which in turn delivers higher OTP and superior guest experience.
Iyer stressed on the importance of the transformative potential of technology trends such as data analytics and GenAI. He noted: "The power of data is something we are only realizing...Case in point is using GenAI as a good companion for debugging, for troubleshooting and for handling service tickets."
Iyer expressed his belief that these technological advancements will not only enhance productivity but also enable businesses to deliver superior value aligned with customer needs and preferences. This highlights the pivotal role of technology in driving innovation and competitiveness across industries.
As the conversation drew to a close, Iyer reflected on the energizing atmosphere of the event and expressed eagerness to collaborate closely with AWS. The AWS Sydney Summit serves as a testament to the power of collaboration and innovation, providing a platform for industry leaders to exchange ideas and drive collective growth.
