In the age of enterprise digitization and increasing competition within the banking industry–from established players to disruptive outsiders–banks are accelerating the modernization of their customer communications technologies. Key strategic goals often associated with this technology overhaul include customer experience improvement and operational efficiency as our 2016 customer communications technology enterprise research shows. Banking respondents of this research cite that improving customer experience is the number one business objective relative to invest in this technology, followed closely by improving the efficiency of front office employees.
Trying to implement these goals has proven to be a big challenge. Accumulated IT systems over the last generation created a legacy IT architecture—including siloed point solutions, custom integrations, and self-developed scripts—inhibiting innovation in this area for keeping up with new digital competition. That said, we are also seeing successful initiatives as this case of DZ BANK AG (DZB) in Europe.
DZB is the third largest bank in Germany and is headquartered in Frankfurt am Main, Germany. The company is conducting a multi-year digitalization project within its corporate banking strategic business unit (SBU). InfoTrends had the opportunity to be briefed on this initiative.
Swiss Post Solutions (SPS) recently invited the analyst community to its Industry Analyst Symposium held in Vietnam on November 23-26. During this multi-day symposium, SPS’ senior management briefed analysts on the SPS business, its latest technology innovations, as well as on its Business Process Outsourcing (BPO) strategy. Analysts were also invited for site visits to both of its Vietnam offshore facilities in Ho Chi Minh City and Can Tho City. This blog post covers our takeaways from the event.
SPS Industry Analyst Symposium in Vietnam, Nov 23-26, 2016
During the twelfth annual Comparting conference—held on Novemeber 17-18 in Böblingen, Germany—Compart introduced its newest product within its DocBridge suite of solutions called: DocBridge Impress. While some customers already have access to DocBridge Impress, version 1.0 will be released in April 2017. The first update version (1.1) is planned for late 2017.
The Comparting conference is a two-day international forum for multi-channel document management. With more than 400 people from 15 different countries having attended this event–up from 375 attendees last year–the Comparting conference is growing in popularity. In fact, it is one of few events for customer communications in Europe. This year’s agenda included keynotes, customer presentations, and educational tracks focused on business and technology.
Enterprise priorities today are strongly propelled by improving customer experience. With only about 28% of enterprise respondents in our 2016 Annual Customer Engagement Technologies State of the Market study being satisfied with the experiences they deliver to their customers, there seems to be significant room for improving customer experience. For some enterprises, this means turning to the practice of Customer Journey Management.
We define Customer Journey Management as the automation of (or parts of) customer communications in each point of engagement along the customer journey. This includes customer communications management, dash-boarding and reporting on the customer journey, journey mapping, as well as incorporating collaboration capabilities which allow stakeholders across an organization to actively participate in the customer conversation.
OpenText recently invited more than 350 customers, prospects, partners, and analysts to its Dialogue 2016 conference in Ponte Vedra Beach, Florida. The team rebranded this former HP Engage event to focus on the digital transformation for meaningful conversations across multiple channels. This was the first major event to take place after OpenText acquired the HP Engage and HP Exstream assets for a total transaction price of $485 million.
Last year’s event expanded the focus to the full HP Software portfolio, while this year’s event generally focused more narrowly on the Exstream, TeleForm, and LiquidOffice investments. As in previous years, the event focused on extensive educational sessions directed toward IT and marketing professionals, with networking opportunities to help cultivate a stronger user community. Here are our key takeaways from the event.
Over the last decade the vendors in the Customer Communication Management (CCM) market have been actively participating in mergers and acquisitions on a global scale. The recent acquisitions done by OpenText, Accell-KKR, and Kofax (a Lexmark company), however, have brought some major changes to the CCM vendor landscape. Among others, these players find that the CCM market is attractive, in part because of its global market size today of around $1B and growing at an estimated 10% (CAGR ’14-’19). New business in this market is driven by opportunities within enterprises who increasingly become digital including their communications.
We are now just one month away from Money20/20, a conference and trade show billed as “the world’s largest payments & financial services innovation event.” Now in its fourth year, the show has grown to more than 10,000 attendees, 500+ exhibitors and about 125 educational sessions. This will be my third year presenting and moderating at the event, with our research helping to cover the household bill pay component of the broader payments market that will be on exhibit.
OpenText announced yesterday that it has entered into a definitive agreement to acquire the Customer Communications Management (CCM) assets from HP Inc for USD $315M following an earlier acquisition of HP Inc’s customer engagement software assets for USD $170M (read InfoTrends’ blog on this here). The transaction is expected to be finalized by early 2017 and is subject to regulatory approvals and closing conditions.
Included in the sale this time is HP Exstream, HP Output Management, HP TeleForm and HP LiquidOffice for CCM, process automation, and document delivery solutions. Additionally, OpenText and HP Inc also announced that they will look into opportunities to work together to continue to expand their software solutions to benefit customers of both companies while moving forward with this transaction.
According to the announcement, OpenText expects to generate between USD $110M and USD $125M of annualized revenues, which means they are seeking a 2.5 to 3 year return on investment.
Last week, customer communications conference Xploration 16 hosted around 355 participants in Orlando, Florida. While attendance was about the same as last year, there were 141 first time attendees registered. With more than 55 educational sessions and panels for vendors, service providers, and enterprise attendees, this annual conference continues to be an important industry event.
The educational sessions covered a broad range of customer communications management (CCM) topics including analytics, business intelligence, production management, managing multi-channel and omni-channel communications, mobile strategies, as well as evolving trends such as personalized video, customer experience (CX), and customer engagement. Two educational tracks took a special focus on executives and career development and discussed topics such as compliance auditing, data security, M&A, RFPs, and topics around personnel management.
We have long been supporters of Xplor and this year we hosted two sessions and sat on two panels. Our sessions focused on providing high-level insights from annual research within our Customer Engagement Technologies and Transactional Communications & Payments advisory services.
David Stabel and Matt Swain presenting highlights of InfoTrends’ annual research on customer communications
For the first time in more than 20 years, Pitney Bowes has launched a large-scale $20 million integrated advertising initiative.
The company secured prime advertising time this past weekend for a special airing of their 60-second commercial ahead of the AFC Divisional Playoff game, where the New England Patriots hosted the Kansas City Chiefs.
The 60-second commercial (entitled “The Story of Commerce”) leads out with dramatic imagery flashing by and a voiceover stating: Read more »