How to Differentiate from Competitors Using BPM and Decision Management
cheryl wilson 270003VHSH email@example.com | | Tags:  customer-retention decision-management customer-experience bpm benefits-calculation-proc...
0 Comments | 3,689 Visits
It’s a tough environment when only a minute percentage of companies can truly differentiate themselves from their competitors on product and pricing alone. In fact, the playing field is leveled for the majority; compounding this challenge is the complexity of changing regulations and the need for greater transparency at a time when all internal and external stakeholders, including customers, want greater accountability.
So how do you differentiate yourself in an extreme competitive environment? Building customer retention and satisfaction has always been a critical strategy for any business that wants to maintain a sustained competitive edge. Now more than ever it’s a strategy that cannot be underestimated when your customers (both current and potential) are only a click away from a competitive referral. We all acknowledge the power of a satisfied or disgruntled customer in the age of social media where one review can have a troublesome ripple effect. When all else is equal, the ability to retain existing customers has become a not-so-secret weapon; one which ASE Insurance is deploying to its advantage.
ASE Insurance, a Danish unemployment insurer, operates in a highly competitive and regulated industry. Everything from how it sells, promotes and prices its products is impacted by government regulations that are in constant flux. Moreover, with several competitors vying for a relatively small market share, ASE’s success is dependent on its ability to differentiate through improved customer service.
To measurably improve customer service, the carrier decided to streamline and automate key customer-facing processes using a combination of business process and decision management. Key to its success, ASE took a phased approach to deployment, choosing to automate its benefits calculation process first because of its impact on customer experience (moment of truth). ASE employed a quick win pilot methodology, using the initial deployment to capture and review metrics, tightly collaborate with its business stakeholders and gain the insights necessary to determine which process to automate next and how to ensure continued success.
The successful automation and deployment of their benefits calculation process delivered several early benefits including reduced time to calculate entitlements -- from 15 minutes to 10 seconds, empowered employees, better audit trails and improved quality of service to members.
The best thing: ASE anticipates that the initial application will deliver a complete ROI in less than 18 months.
To learn more, you can:
Maneeza Malik, WW Industry Practice Leader for IBM, contributed this guest post.