It’s fair to say that SaaS (or the cloud) has changed the way we use technology more than any other innovation over the past 10+ years. While consumers are using cloud based services everyday via their banking, email, shopping etc. it seems companies are struggling to make discussions about cloud services.
McKinsey & Co. recently published an article titled “The do-or-die questions boards should ask about technology – Board members should raise nine critical questions when discussing technology strategy with IT and business managers.”
McKinsey & Co. suggest the following questions to board members when engaging with IT and the business. Regardless of where you are in your organisation, reflecting on these questions is a good foundation for a robust discussion.
“1. How will IT change the basis of competition in our industry?
2. What will it take to exceed our customers’ expectations in a digital world?
3. Do our business plans reflect the full potential of technology to improve
4. Is our portfolio of technology investments aligned with opportunities
5. How will IT improve our operational and strategic agility?
6. Do we have the capabilities required to deliver value from IT?
7. Who is accountable for IT and how do we hold them to account?
8. Are we comfortable with our level of IT risk?
9. Are we making the most of our technology story?”*
Customer Experience (CX)
Question 2 asks about exceeding customer expectations. McKinsey suggest the following questions* be asked of IT and/or business managers:
a. How does our customer experience compare with that of leaders in other sectors?
b. What will our customers expect in the future, and what will it take to delight them?
c. Do we have clear plans for how to meet or exceed their expectations?
Today’s technology enables customers to move at unprecedented speed. In the context of CX, organisations need to remove barriers and antiquated processes that slow things down. For example, I find speaking with financial services firms annoying as they ask the same questions over and over again. They stick to a script and repeat frustratingly annoying questions.
In the video below, you will get an idea about what customers expect in the future (or expect now) and what it takes to the delight them.
If you get a chance to read the McKinsey & Co. article in full, please come back and share your thoughts.
*SOURCE: McKinsey & Co.