Citizens and customers have access to insights on devices of their choice at a scale that is unprecedented in modern history. This trend is especially visible in the rapidly growing economies of Asia with China and India potentially rewriting the rules on capitalism driven by flow of capital, intellectual property and goods and services across national borders.
The world recently witnessed the largest exercise in democratic elections with over 550 million citizens in India exercising their right to vote resulting in a peaceful transition of power. Taking a step back, I realized that the advances in engaging constituents in the democratic transfer of power in western economies have been taken to a whole new level in India where information is available in near real time not just in major cities but also in the most remote areas leveraging advances in communications and technology.
Voice of the customer
According to 2014 Forbes Global 2000 Companies List, Asia Pacific Japan and China region leads the list with 674 companies, followed by North America with 629 members. The growth has been especially rapid in China at over 1000% from 2003 to 2014 with China now representing 150 of the Global 2000 companies. This raises the fundamental question about where companies invest especially as they look to grow beyond their national boundaries and more importantly if they listen to the voice of the customer given the changing demographics and customer needs.
Catering To Size of One
Companies in several industries are acutely aware of the changes in the market. Retailers in particular have been a step ahead in being able to sense and even predict the changes in customer behavior, tailor products and services for individual tastes while redesigning their supply chain and procurement processes on the fly to deliver on their promise. These changes have been driven by leaders like Apple, Alibaba and Amazon that leverage insights from big data aggregated from customer engagements across social, digital and physical channels to build a comprehensive view of what can be alluded to as the OmniCustomer. On a related note, in a recent blog I highlighted how banks and insurers are acting as role models by putting their customers first and investing in innovative business models to better serve their needs as individuals rather than account numbers.
SAP Point of View
I am pleased share with you a video by Andrew Pitcher, General Manager, Financial Services Industries, APJ & Greater China, SAP where he articulates his point of view on how SAP is working closely with customers, customers’ customers and partners to make the world run better and enable businesses of all sizes to drive innovations in their customer engagements.
You can learn a lot more by joining us at SAPPHIRE NOW in Orlando, June 3rd to 5th 2014.