Consider the situation where Bob, an employee at a bank is in charge of customer requests that come in from the Bank’s website. Today, Bob would have a very strict SLA which stipulates at the very least the acceptable time frame to respond to the customer meaningfully – Bob is expected to reach out to the customer within 24 hrs after having understood the customer’s profile, the specific request, the product information requested and also, intelligently figure out what best suits the customer by way of the customer’s underlying need, propensity. To top this off, Bob also needs to understand what is the preferred mode of communication as well as the best time to reach the customer. If Bob does all the listed activities, he will “meet expectations” – my question is, why can’t technology be put under the same scrutiny? What are the industry SLAs for the ROI related performance of a software? What is the guarantee that a technology investment will pay off? If past statistics are anything to go by, IT hardly delivers positive ROI and are we to then arrive at the conclusion that it cannot deliver. I have a theory that things have now changed – but lets step back a bit before we get to that.

Technology was initially expected to deliver automation solutions, allow enterprises to amass large amounts of information accurately and in an organized manner – for this “organized” criteria, it was modelled on existing processes, procedures and enabled existing business processes to carry on smoothly. The Banking industry loved that human-error could now be avoided to the largest extent and welcomed with open arms process automation software including but not restricted to the likes of core banking, crm, erp, hrm, etc… Then came the problem of what to do with the data, technology too had grown more intelligent and now provided ways to extract insights out of this data and present views into these insights mirroring hierarchies giving way to Data mining, predictive analytics and business intelligence solutions. Yes, this is an old story and yes this is all well known.

What next is what my theory addresses – technology thus far has been an enabler – an enabler of automation, an enabler of insights, of understanding even but its time that it delivers much more! Technology should now be thought of as a multiplier – one that multiplies or ties together all the advances in the past and delivers much like an SLA bound employee who is expected to learn and grow as time passes. And technology can do this if and only if two things become real:

1. It is capable of building on the momentum that the automation and insights enabling technology – smart connectors, the right partner ecosystem, the right architectural foresight are key. And..

2. It can answer to ever improving SLAs just like an employee is expected to get better with experience – responding intelligently in real-time is a capability that only technology can render.

Coming back, Bob might be able to respond to that query in 24 hours but the right technology solution can do it in milliseconds. Question is, does your Bank have this capability? If not, what are you doing about it? Respond now!


– By CustomerXPs


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