Nexus - Utilities
Back office is the new battlefield to deliver competitive advantage for the forward-looking Utility companies
The rapid adoption of technology, increasing regulation, changing customer behaviour, and operating within tighter margins just to compete are combining to disrupt traditional customer service models.
Utilities face a unique set of challenges and their performance is highly tied to the efficiency of the operational process, resource optimisation and transparency of the customer experience. But does the back office measure up to the standards set in competitive markets? Is the back office able to make the differentiation?
Utility operations seeking to deliver genuine transformation recognise that the back office operations will provide the pivotal role in creating service differentiation and represents the greatest opportunity for reduction in overall operational cost. The back office is the key battleground for the future and those Operations implementing the right back office strategy will be well-positioned and ahead of their competition giving them a competitive advantage.
Some operations have started their journey to transform their business model to enable them to compete in ever changing environment, often developments are focused on digitally transform how customers interact with the front office. However, less thought and action has been given on how to transform the back office. As the market matures, Utility providers that can streamline the back office and deliver exceptional customer experience at the correct cost will stand out from the crowd.
In our increasingly digital world, one of the most critical elements of customer experience is speed and accuracy of response. Efficiencies in the back office can help improve this. Whist social media and webchat are on the rise in B2C paper and e-mail are still one of the most important methods for customer communication, particularly in a business to business context.
In many cases, companies are taking over a week to process and reply to paper and email correspondence. Speeding this process up, will improve existing customer relationships and steal a march on competitors.
Inefficiencies in the back office in turn impact customer satisfaction and the overall customer experience. dhp experience have proven in previous clients that 20-35% of all transaction volumes in a contact centre are the result of rework, delays, backlogs or execution issues in the back office.
Every back office is unique. Any programme of improvements must be bespoke. But, by understanding the efficiency gains that can be achieved and the value of an improved customer journey, those service providers / utilities implementing the right back office strategy will be well-positioned and ahead of their competition.
For more Nexus information and insight, download one of our case studies.
Find out more about:
- How Nexus has transformed operations within your industry
- The benefits and results Nexus has delivered for others in similar roles
- Challenges faced by other organisations within your industry
- Solutions offered by Nexus on an industry-specific basis
- How Nexus combines software and behavioural change to streamline operations
- Tangible data of results achieved through Nexus implementation
Download a Case Study
Problems solved by Nexus
- Extensive historical, real-time and predictive data and MI reporting
- Ineffective processes with excessive hand-offs are able to be re-engineered
- Management teams lacking skills or visibility
- Variation in time taken to complete similar tasks
- Increasing cost of offshore back-office and processing outweighs the benefits
- Unlock understanding of the customer experience through real End-To-End measurement and heat mapping data
- Real-time reporting of internal and external customer touchpoints
- Bring all complaints information together in one place, regardless of operational configuration
- Take action from fact-based decision-making
- Reduction in transactional costs
- Significantly improve EBITDA
- Significant reductions in the cost of acquisition renewals and claims processing costs
- Reduction in waste & rework
- Demonstrate knowledge and understanding of key customer processes and the progress of all work item from receipt to final completion
- Demonstrate how teams and individuals follow and observe compliance with set service standards
- Role owners are empowered through interrelated data enabling them to ask the right questions and perform at the right level
- Staff understand how their work impacts all areas of the organisation, leading to greater sense of empowerment and achievement
- Staff are able to access and achieve the correct training and skills
- Focus investment on waste elimination, Generic User Interface & Robotic Process Automation, and correspondence material that delivers ROI to all stakeholders