Technology Featured APAC

APAC businesses investing in CX 10x more likely to build resilience amid pandemic

Singapore – Businesses in the Asia-Pacific region who have invested in solutions to improve their own customer experience (CX) strategy are more likely to be more resilient 10.3x than their other counterparts amid the global pandemic, according to the latest insights from customer experience company Zendesk and research/strategy firm Enterprise Strategy Group (ESG).

The report noted that CX investment has made APAC businesses 4.7x more likely to grow their online customer base for the last six months.

Furthermore, the rate of high-maturity CX organizations has also increased from 6% to 8% since 2020, with India (16%), Australia (12%) and Singapore (9%) having the highest proportion of these organizations.. The greatest gains in the region were tied among India, Australia and Singapore, which all saw a 6% point increase from 2020. However, Singapore experienced the fastest growth, increasing the percentage of such organizations by three times in the past year, up from just 3% in the past year.

The report noted, however, that only 21% of midsize and enterprise companies in Singapore feel they have made the right CX investments to increase business resiliency, trailing behind other markets such as Australia (28%), South Korea (28%) and India (64%).

“Organizations across industries, sizes and life cycles are realizing that the customer service function is no longer a cost center, but a revenue driver, and our research with ESG confirms this. In fact, it also found that the connection between CX maturity and greater business growth and revenue remains most pronounced in APAC a year on,” said Wendy Johnstone, chief operating officer for APAC at Zendesk.

She added, “Today’s digital-first economy has made the customer service function the hub of all customer relationships, which is why continuous innovation and investment in CX must be a business imperative for long term success and growth.”

There continues to be a clear correlation between improved CX maturity and the benefits of increased customer satisfaction (CSAT), faster response times, and effective customer service. Notably, the study calls out as well the connection between CX maturity and greater business growth and revenue. 

APAC high-maturity CX organizations are better positioned to adapt and thrive in the face of change, taking roughly half the time to grow their team by 50% and onboard new hires (22 days versus 43 days for beginner CX organizations) and add a new channel (21 days versus 45 days for beginner CX organizations). 

“The findings indicate that the shift to digital and remote work during the pandemic served as a trigger for companies to accelerate their adoption of new technologies, policies, and processes to benefit from a higher CX maturity,” said Adam DeMattia, director of custom research at ESG.

He added, “Across APAC, high maturity CX organizations recognize that service excellence can be a differentiator, and are actually accelerating investment in CX projects.”

The report further noted that organizations in APAC have increased the number of service channels year-over-year from an average of 7 to an average of 7.8. In addition, many anticipate that preferences and changes will continue to shift as well: 73% of APAC organizations predict that chat and social channels will be most used by customers in the future, up from 54% who say this is the case today. 

Lastly, 57% of Singapore companies agree that chat and social channels are heavily used by customers today. This number is projected to increase to 72% in the next three years.

Technology Featured ANZ

SugarCRM’s latest acquisition of Aussie CRM solutions to amp up CX services in APAC

California, USA – Customer experience platform SugarCRM has recently announced the acquisition of Loaded Technologies,  a business consulting, CRM strategy and cloud implementation services provider based in Sydney, Australia.

With this acquisition, SugarCRM is expanding its ability to meet implementation service demand in Australia and the broader Asia-Pacific region. SugarCRM’s service portfolio includes cloud-based customer experience solutions, AI-powered sales, and other marketing/service software.

Such services then enable high-definition customer experience through implementations such as migrations from on-premise to cloud environments.

“We are excited to have the team at Loaded Technologies, with their dedication to customer success and  expertise of the Sugar CX solutions. The acquisition of our long-time partner, addresses a growing need for mid-market companies who want a trusted advisor that can help them navigate and succeed in optimizing and differentiating their customer experience,” said Jason du Preez, general manager for SugarCRM Asia Pacific.

Technology Featured Southeast Asia

Tata Consultancy Services forges new partnership with tech company Zoho

Singapore – India-headquartered IT and consulting firm Tata Consultancy Services (TCS) has partnered with global technology company Zoho to adopt its solutions in customer relationship management, IT service management, and e-commerce for its global-wide businesses.

Within the partnership, TCS will utilize Zoho’s technological application stack in data analytics, AI business leverage, and unified search to help improve their clients’ approach to CX strategy, design, and customer insights as well as in marketing, sales, and service transformation.

“TCS has a business-led approach to consulting and enterprise transformation. Zoho takes the same approach to its technology, offering a vertically integrated platform of leading business applications and services. We are confident that through TCS’ reach and influence in the market across 46 countries, more enterprise organizations globally will experience the benefits of Zoho’s deep technology stack and world-class applications,” said Sridhar Vembu, co-founder and CEO of Zoho Corporation.

Furthermore, the alliance will allow future business clients to explore new revenue opportunities and gain operational efficiency, whether from remote or in-office locations.

“Enterprises are adopting best-of-breed product suites for customer service functions, because they provide the digital power and flexibility required to create the right engaging customer experience at the right moment,” said Aarti Devi, global head of customer experience management and enterprise application services at TCS.