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Is the Microphone Working?

Testing, one, two, three. Testing, one, two three. Can you hear me? Is the microphone working? Testing (tapping on the mic a few times). As I stated in the intro blog for this series, we are in the midst of the Golden Age of Innovation that many are calling the Fourth Industrial Revolution. Over the last decade, the top 20 U.S. technology firms have created over $1 trillion USD in value. U.S. venture investment topped $60 billion USD in 2016. Software is now contributing over $1 trillion USD in Gross Domestic Product (GDP) to the global economy. And there are 4.5 million professional software developers in North America alone—more than ever before. Innovation drives progress. Software and hardware innovation accounts for nearly 15% of all R&D, pharmaceuticals for almost 10%. In 2015, U.S. patent applications hit a record high, topping over 600,000. Half of the world’s best-known brands are now platform companies. In this golden age of innovation, we all need to be software companies. The ability to innovate at scale needs to transcend nations, cultures, and people. Many cultures find it difficult to innovate. My experience suggests there are three key ingredients to innovation: access to talent, access to capital, and an entrepreneurial spirit. The Fourth Industrial Revolution describes an era marked by digital innovation, exponential thinking, and unlimited potential. This will be a revolution of scope, scale, velocity, and complexity unlike any other in human history. But what will be the ultimate measure of this transformation: is it profit, peace, quality of life, or a new form of conscious capitalism? The Organization for Economic Co-operation and Development (OECD) Better Life Index ranks Norway, Australia, Denmark, Switzerland, Canada, Sweden, New Zealand, Finland, United States, and Iceland as the top 10 countries for wellbeing. The United States would rank in the top three if not for: community, civic engagement, and work-life balance. I am not one to lecture on work-life balance. But democracy is not easy, and the great American experiment has invested deeply in a government of, by, and for the people, yet only 50% of eligible American citizens vote or experience civic engagement. This is shameful. In regards to community, despite progress over the last 100 years, 15% of Americans still live in poverty, which is completely unacceptable. My grandfather was born before planes, cars, televisions, telephones, and electricity were commonplace. He lived for 98 years (smoked for 60 of those and ate bacon and eggs every morning). He also worked on his farm every day until he passed, and left America only once to sail across the Atlantic to France to join the Allied Liberation Forces in WWI. There were many phenomenal aspects to my grandfather, but let me highlight the incredible human spirit of adaptability that led him to transition from horses to planes, from whale oil to electricity, from dirt roads to a nationwide transportation network. He also lived to see the first personal computer, and his grandson earn a computer science degree. As a software engineer, I have never seen a more gilded time to positively impact society and humanity through technology. This is the Golden Age of Innovation: And so begins the Fourth Industrial Revolution and our individual responsibilities for creating a better future. …Testing, one, two, three. Is the microphone loud enough? In my next post in this series, I will discuss each of the four industrial revolutions, highlighting their innovations and impact on business, society, and culture. To read more, download The Golden Age of Innovation. I’ll be taking this message on the road for the Innovation Tour and Enterprise World. Learn more. I’d love to hear your thoughts. To provide feedback, or if you would like to see additional topics covered in future publications, please add your comment below.

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For Usable Insights, You Need Both Information and the Right Analytical Engine

Data

“It’s all about the information!” Chances are you’ve heard this before. If you are a Ben Kingsley or Robert Redford fan you may recognize the line from Sneakers (released in 1992). Yes, 1992. Before the World Wide Web!  (Remember, Netscape didn’t launch the first commercially successful Web browser until 1993). Actually it’s always been about the information, or at least the right information – what’s needed to make an informed decision, not just an intuitive one. In many ways the information, the data, has always been there; it’s just that until recently, it wasn’t readily accessible in a timely manner. Today we may not realize how much data is available to us through technology, like the mobile device in your pocket – at 12GB an iPhone 6S is 2,000 times bigger than the 6MB programs IBM developed to monitor the Apollo spacecrafts’ environmental data. (Which demonstrates the reality of Moore’s Law, but that’s another story).  Yet because it’s so easy to create and store large amounts of data today, far too often we’re drowning in data and experiencing information overload. Drowning in Data Chances are you’re reading this in between deleting that last email, before your next Tweet, because the conference call you are on has someone repeating the information you provided yesterday. Bernard Marr, a contributor to Forbes, notes “that more data has been created in the past two years than in the entire previous history of the human race”.  Marr’s piece has at least 19 other eye-opening facts about how much data is becoming available to us, but the one that struck me the most was this one: 0.5%! Imagine the opportunities missed. Just within the financial industry, the possibilities are limitless. For example, what if the transaction patterns of a customer indicated they were buying more and more auto parts as well as making more payments to their local garage (or mechanic). Combined with a recent increase in automatic payroll deposits, might that indicate this customer would be a good prospect for a 0.9% new car financing offer? Or imagine the crises which could be avoided. Think back to February 2016 and the Bangladesh Bank heist where thieves managed to arrange the transfer of $81 million to the Rizal Commercial Banking Corporation in the Philippines. While it’s reasonable to expect existing controls might have detected the theft, it turns out that a “printer error” alerted bank staff in time to forestall an even larger theft, up to $1 billion. The SWIFT interface at the bank is configured to print out a record each time a funds transfer is executed, but on the morning of February 5 the print tray was empty. It took until the next day to get the printer restarted. The New York Federal Reserve Bank had sent queries to the Bank questioning the transfer. What alerted them? A typo. Funds to be sent to the Shalika Foundation were addressed to the “Shalika fandation.” The full implications of this are covered in WIRED Magazine. Analytics, Spotting Problems Before They Become Problems Consider the difference if the bank had the toolset able to flag the anomaly of a misspelled beneficiary in time to generate alerts and hold up the transfers for additional verification. The system was programmed to generate alerts as print-outs. It’s only a small step to have alerts like this sent as an SMS text, or email to the bank’s compliance team, which may have attracted notice sooner. To best extract value from the business data available to you requires two things: An engine and a network. The engine should be like the one in OpenText™ Analytics, designed to perform the data-driven analysis needed. With the OpenText™ Analytics Suite, financial institutions can not only derive data-driven insights to offer value-added solutions to clients, they can also better manage the risk of fraudulent payment instructions, based on insights derived from a client’s payment behavior. For example, with the Bangladesh Bank, analytics might have flagged some of the fraudulent transfers, to Rizal Bank in the Philippines,by correlating the fact that the Rizal accounts were only opened in May 2015, contained only $500 each, and had not been previous beneficiaries. Business Network: Delivering Data to Analytical Engines But the other equally important tool is the network. As trains need tracks, an analytical tools engine needs data (as well as the network to deliver it).   Today more and more of this data needed to extract value comes from outside the enterprise. The Open Text™ Business Network is one way thousands of organizations exchange the data needed to manage their business, and provide the fuel for their analytical engines. For example, suppose a bank wanted to offer their customers the ability to generate ad-hoc reporting through their banking portal. With payment, collection, and reporting data flows delivered through the Open Text Business Network Managed Services, the underlying data would be available for the bank’s analytical engine. Obviously much of the data involved in the examples I’ve provided would be sensitive, confidential, and in need of robust information security controls to keep it safe. That will be the subject of my next post.

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Time-Based Digital Assets are now Mission Critical

video

How much video are you watching online? I’m pretty confident it’s more than last year, or the year before. It seems that every website now features video in some form or other. Video is also becoming increasingly prevalent across the various social media platforms too. There’s a good reason, studies have shown that video is more engaging than text or still imagery. A video with a well told story that provides value or entertainment (or better yet, both) is often commented on and shared. Video is everywhere in the digital world. In fact a report by Cisco suggests that this year (2017) video will account for 69% of all consumer driven traffic on the web. Having video assets has also become important for findability with YouTube now ranked as the second largest search engine, processing three billion searches a month. Video has become mission critical The rise in voice-activated applications and devices means audio is not far behind as voice driven search is rapidly growing with some estimates suggesting that 50% of search queries will be done by voice by 2020. Audio is becoming mission critical Both Video and audio can be considered as time-based digital assets, and need to be managed, tagged, and produced in a controlled workflow just like more traditional media assets such as photography. The OpenText™ Media Management (OTMM) platform is perfectly positioned to handle traditional media and provide the functionality needed to manage and deliver the growing demand for time-based media. OpenText™ Media Management now offers an optional Advanced Video Workflow that extends OTMM functionality into the editing suite specifically to meet the needs of dealing with time-based media assets in three specific areas: more detailed metadata, more control over the asset, and improved integration with preferred editing suites and workflow. OTMM now automatically pulls additional metadata from time-based assets to improve search results and asset handling. New Logging functionality means you can now add annotations and metadata over single scenes, or even single frames, or sound-bites. The meta-data selection buttons are totally configurable and can be driven by controlled language, domain knowledge terminology, or other defined terminology sets to provide intuitive tagging. Ranges of frames can also be tagged to create defined sub-clips. The editing tool integration allows frame-by-frame broadcast quality interactions, frame search, and the support of multiple audio channels all within a browser environment. One-button toggling between low-res editing streams and a hi-res preview makes the editing workflow more efficient. Once the tagging and editing work is complete, the finalized assets are sent back to OTMM for storage and retrieval from a single digital asset platform that provides the single source for all your brand-approved assets. The Advanced Video Workflow option for OpenText™ Media Management provides key video tools so your teams can provide compelling and attention-getting content.

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OpenText WFO Video Series: How can the contact center be positioned as a leader in customer experience?

“Do or do not. There is no try.” —Yoda If you are a Star Wars fan as I am, then Yoda’s quote should resonate with you. So why do I quote Yoda when thinking about this third question posed to our distinguished panel of WFO (workforce optimization) analysts and practitioners for the OpenText™ WFO 2017 Video Series? Well, let me explain with a real-world example. I recently spoke with an executive from a 100-plus-year-old product- and services-based organization that has transformed itself from being an inbound, order taking, issue resolution company to one that now thrives with an outbound contact center which generates over 95% of the company’s total revenues. Think about this for a moment and imagine that your primary product is declining in usage due competition from other more cost-effective options. Consumers still use your product but at a much reduced rate. To reverse this trend, your overall go to market strategy must change. Yes, your consumers know you have other offerings that could be of value to them, but your business model needs to radically change to leverage the feedback and promote an end-to-end supply and service model. Yet cultural and infrastructure transformations of this magnitude are not easily undertaken. In the case I mention above, this transformation was accomplished because one executive sponsor, the vice president of customer experience, had the vision and determination to advocate within the C-suite for leveraging his organization’s contact center as a strategic weapon. Donna Fluss, President of DMG Consulting and offering advice in the first of two short commentaries on this topic, fully understands that “If you want to consistently deliver an outstanding customer experience, most organizations are going to need to change their culture.” Easier said than done, of course, but in a second clip Donna offers seven critical steps that contact center leaders and business executives should undertake to seriously pursue the goal of delivering a truly outstanding customer experience. After listening to her first commentary, you’ll find it easy to view this second clip, so I will let Donna speak for herself. However, let me offer up one other well-known quote: “Rome wasn’t built in a day.” It took time for the company I mentioned above to achieve the desired outcomes. Many conversations and interactions with consumers had to take place in order to better understand their expectations, and then, as they changes were made based on customer feedback, success stories from the contact centers were communicated throughout the organization. New opportunities were identified. A continuous effort was made to promote and celebrate the value of the contact center accomplishments. Significantly, while the transformation initiative was taking place, the customer service representatives, supervisors, managers and site leaders all continued to provide the best possible customer experience as they worked to reach their ultimate goal of exceeding customer expectations. There are more inspiring examples and words of wisdom to hear about from the other expert speakers on this year’s Video Series. In all, our speakers answer eight important questions about driving awareness of the contact center within your organization and explain why this should be of interest to every contact center agent, supervisor, manager and executive: What defines a positive customer experience? Why should customer experience be a top enterprise goal? How can the contact center be positioned as a leader in customer experience? How can the contact center align with the top priorities of executive leadership? What’s the best way to coordinate contact center goals with other business units? What performance goals resonate most with executive leadership? What other tools demonstrate contact center impact to the executive team? What are some lessons learned about reporting to the executive team? And continue the conversation by using the “Get in Touch with a WFO Expert” form on the Video Series pages, or by commenting on our Video Series blog posts below. Steve Graff’s blog provides his perspective on what defines a positive customer experience. And Alan Porter’s blog offers an overview of the commentary about why customer experience should be a top enterprise goal. Enjoy. Roger Lee, aka Dr. WFO

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Putting the X Factor Into Customer Experience

content

For many years now we have heard that organizations must look to improve their customer experience to stand a chance of retaining their existing customer base. This, we have been told, is the cornerstone of customer engagement – but what exactly is customer experience and why is it here now? How did we ever manage without it? The fact is our propensity to always be connected means we are bombarded with information and what feels like a vast array of choices to buy the same product with the only real variations being factors like price and delivery time. What fundamental difference is there in the myriad of offers we are exposed to that leads us to choose one supplier from another? There is one ingredient behind customer experience and customer engagement that has preceded the Internet and still makes a big impact on our behavior and brand loyalty today. Walk through a modern airport or drive through the suburbs of a city and you will be exposed to advertising hoardings, walk into a dentist surgery or add yourself to mailing lists and you will encounter lifestyle magazines. These are all forms of customer experience and engagement that rely on one characteristic – they grab our attention. Often they do not lead with product data such as price or specification, they cannot measure and analyse how successful they are (unless you take into account passing traffic volume, print circulation), they simply grab our attention through something that appeals to us as humans beings – stimulus. Most often it’s visual, in the case of lifestyle magazines they might even try to appeal to our olfactory senses to advertise a scent – indeed some magazines even just smell good! But if we go back to the advertising hoardings and the lifestyle magazines examples for one moment it is easy to see that visual stimulus provides the X factor that excites us, it grabs our attention and leads us to follow up. The common name for this stimulus is content. We have all heard the phrase “every company is a media company1” and of course this is true to varying degrees – every company produces content to grab customer attention and this has transformed from a rather small set of content to what can only be described as a tidal wave of diverse material. Some talk about a “content shock2” where we are overwhelmed to the extent that we are unable to consume more, but the real issue here is that the valuable content that grabs the attention is buried amongst the volume of mediocre material. Every company faces this challenge. We have also seen that CMO’s are starting to recognize the value of content but do not prioritize its management3. Content has intrinsic value – it is expensive to produce so like any valuable material it should be collected, curated and put to use where it can have maximum impact. Could it be that we are so focused on the customer experience where we measure, analyse and try to predict our customer’s next step that we are forgetting the one factor that defines what we are? Content provides stimulus and grabs our attention. Getting our attention is the first step in becoming a customer. Lets start looking after that content. 1 – “Every company is a media company” by Tom Foremski 2 – “Content Shock: Why Content Marketing is Not a Sustainable Strategy” by Mark Schaefer 3 – “CMOs believe in value of visual assets but don’t prioritize their management” by Lisa Hoover McGreevy – Fierce Content Management

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Documentum and OpenText for Life Sciences – Moving Beyond FUD

documentum

Now that a couple of months have passed since the ink dried on the OpenText deal for Dell EMC’s Enterprise Content Division (ECD), I thought it was good time to offer my viewpoint on what this acquisition means specifically for Life Sciences. Some have questioned OpenText’s commitment to Documentum and future investment in the platform. Some have questioned the amount of investment that will be made to product/solution enhancements and innovation. However, only OpenText has the depth and breadth of Enterprise Information Management (EIM) solutions that can deliver the future that Documentum customers deserve – while offering a whole series of synergies for existing OpenText customers. Sir, step away from the FUD… I don’t want to dwell too much on the past but I’d be sharing no great insight to say that Documentum was never a perfect strategic fit for Dell or EMC. EMC had made it explicit that continued investment in the platform might be limited. It was an open secret that the company would look to divest itself of ECD. The only question was to whom. Many industry experts had suggested that the venture capital route was most likely, but this would always have left the shadow of future disintegration and sell-offs of the Documentum solution set. OpenText offered a completely different approach. Our solution sets are complementary and together offer a path to further develop and innovate in the ECM space. Our competitors – even those that have tried to spread some FUD (fear, uncertainty, doubt) – would struggle to suggest that we are not a perfect fit. More importantly, the OpenText deal ensures the investment that the Documentum platform requires to fulfill customer needs. In technology solutions, as we are all acutely aware, if you’re standing still then you’re going backwards. It would have been unthinkable to let that happen to Documentum. In reality, this deal marks the end (not the continuation) of the uncertainty about Documentum’s future. Where do we go from here? The Documentum Life Sciences Solutions Suite was the pinnacle of EMC’s approach to take a solutions-based approach to delivering on customers’ pain points. I’m afraid the first thing we’ve done you may find fiendish. We’ve put the word ‘OpenText’ in front of it! The next thing we’re doing is setting out a roadmap to ensure the platform meets your needs today and into the future. We’re doing exactly the same thing with other ECD product sets – such as LEAP – so that existing Documentum customers can be reassured that our solutions will always remain a strategic investment. But, as I said, standing still is going backwards. Our belief in the Documentum platform was only part of the reason that OpenText was interested in this deal. Our strategic direction has long been to assist our customers to access the full potential of EIM. This means bringing ECM together with enhanced records management, analytics, and BPM into a single, coherent, end-to-end platform. We believe that this approach is the only way to fully release the value of information held within an enterprise and provides the foundation for Digital Transformation. Life Sciences companies can select (or maintain) either the OpenText or Documentum ECM platforms and expect to receive the same level of native integration into OpenText’s Discovery, Case Management and Customer Experience portfolios, as well as industry-specific solutions, reflecting our combined decades of experience and best practice. Bringing immediate value to customers Beneath this strategic direction, there are a number of actionable synergies that can immediately benefit both OpenText and Documentum Life Sciences customers: Extended solution portfolios – In areas such as analytics and B2B integration, existing Documentum customers can build out the capabilities of the Documentum for Life Sciences Solution Suite and leverage best-in-class OpenText solutions, such as Marketing Content Management for Life Sciences. Existing OpenText customers can benefit from ECD solutions such InfoArchive. Enterprise Application Integration – OpenText’s close relationships within its partner network introduce seamless integration with enterprise applications such as SAP, Oracle, Salesforce, and Microsoft for Documentum customers. Cloud and IaaS – The OpenText Cloud delivers the ideal platform as Life Sciences companies to transition from on-premise to Cloud-based solutions. You have the confidence that you are with one of the world leaders in Infrastructure as a Service (IaaS). I know it is natural to be cautious when large deals like this happen – and only time will show that what I’m saying will happen – but I’d like to think that you are as excited as I am about what this means for current and future customers. To summarize, the OpenText Documentum for Life Science Solution Suite has the investment it needs and a talented team to drive its functionality forward. Additionally, we’ll continue to help Life Sciences organizations realize the potential of EIM to deliver the real benefits of Digital Transformation. If you’d like to find out more about how this new union will affect your organization, please contact your Account Executive or click here and someone (maybe even me!) will call you. In addition, OpenText will be unveiling its strategic plans in more detail at this year’s Enterprise World, in Toronto, Canada, where we will have a full Life Sciences program designed to help maximize your investments in OpenText (including Documentum) platforms.

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European Energy CIOs Reap Benefit of Digital Transformation – and That’s Just the Start

Energy

According to new research from IDG and OpenText, over 90% of Energy companies in the UK and Nordic region have Digital Transformation programs in place. These companies are beginning to realize significant benefits from their digitization effort. But, Energy CIOs say, there’s much more to come. Pricing instability places focus on operational efficiency Our research showed that pricing affects energy businesses in two ways. First, the volatility in oil prices makes it difficult to properly manage supply and demand. As one UK Energy CIO put it: “Much of the sector’s focus has been on the oil price dynamics of supply and demand, and the implications for capital efficiency.” A Finnish CIO explained the flip side of pricing: “To thrive in the market amid increasing competition, we are forced to decrease our prices regularly … To add to our worries about pricing, as we are a customer-centric company we need to invest heavily on customer satisfaction measures. We also have to provide a fair price to customers along with transparent customer services.” The results of pricing pressures were neatly summed up by another UK Energy CIO: “Profit maximization is the top business concern of energy producers as they work to change the cost and process efficiency of their operations.” Digitization advanced in operations The responses to our survey from Energy CIOs suggest that early Digital Transformation efforts have focused on operations and customer experience. Managing supply and demand is a huge issue for the Energy companies surveyed, with them placing load balancing as both one of the largest industry challenges and the second biggest opportunity for digitization. It appears that many companies have made good progress in this direction. One Nordic CIO expressed a feeling common to many of the CIOs questioned: “With the help of digitization, we have connected our physical assets with the virtual environment, which helps to provide efficient output and can be monitored from different locations. Demand and supply can easily be handled, and all operations can be controlled from one location with the help of centralization of data.” The results of these efforts can be impressive. One CIO reported: “Digitization has helped us to improve operations and increase flexibility available throughout the value chain. Digital Transformation has boosted profitability by 20 to 30 percent.” Big Data ties operations to customer experience Without a doubt, one of the main benefits of Digital Transformation lies in the ability to effectively exploit Big Data. It was seen as the largest opportunity for digitization and a staggered 98% of companies surveyed said they already drew on data analytics and predictive data to make decisions. One Swedish CIO said: “We have noticed the positive outcomes of digitization through increases in productivity and can easily monitor the supply and demand processes of our organization. With the help of digitization, we can easily interact with our customers and understand their needs and receive feedback on a regular basis.” An UK CIO put a figure on this ability: “We are using advanced analytics to enhance service quality, lower costs, and preserve and deepen customer relationships. By digitizing a single core process, we can cut process costs by 20 percent in the first year while also improving customer satisfaction.” Analytics drives customer experience It’s clear from our research that all CIOs understand the power of data analytics and most are already applying the insight to improve customer services. The drive is towards delivering a highly personalized, highly individual service to boost customer loyalty and retention. “We have been adopting integrated customer services and this has helped us move from being ‘energy-centric’ to ‘customer-centric’. We have been using increasing volumes of customer data to better understand consumer behavior. A tremendous opportunity exists to develop innovative, digitally-enabled products and services, bundled to provide an integrated customer service,” said one UK CIO. Another spoke for most others when they commented: “We have been offering consumers the ability to view, monitor and purchase electricity online, on mobile and via social media. From this we have been able to offer a differentiated, modern service by providing convenient, cost-effective and personalized access to Energy packages at a range of price points.” In fact, personalized product and service development allied to personalized pricing was a common theme in this research. As a Swedish CIO stated: “In our organization we already provide various options for customers to choose from. These rates can be modified according to customers’ needs and usage. We continually work on launching new packages for customers’ requirements.” Smart Grids will make customers into partners Continually improving the experience delivered to customers will be a focus for investment for European CIOs, according to our research. A major part of this will be down to the effects of Smart Grid implementations. An UK CIO commented: “The electrical grid will underpin the future Energy network. It will enable bi-directional flows of electricity, transmit information and price signals, and ensure the optimal balance of supply and demand. This will enhance grid reliability, reduce losses, and integrate distributed resources that can help decarbonize the system. The digital grid will generate a continuous flow of data on consumption behaviors, load variations, revisions to price signals and supply response data that will help raise the efficiency of the entire system. Another CIO explained the benefits to customers and suppliers: “Power grid helps customers to make it possible to monitor and adjust their energy use through smart meters and home energy management systems that offer 24/7 usage readings. Power grid allows direct communication with end-user equipment to reduce consumption during these peak periods, lowering the need for costly standby power plants.” In effect, Energy CIOs expected that Smart Grids will help form a partnership-like relationship with customers where customers take more control of the demand side – encouraged by personalized incentive pricing – enabling the Energy company to more efficiently and cost-effectively manage supply. This may still be a few years away and the environment will be further complicated by the decentralization of power production and distributed energy resources but it seems like the direction of travel for the CIOs surveyed is already fixed. Want to find out more about how Digital Transformation is affecting UK and Nordic Energy companies? Attend the OpenText Innovation Tour taking place in London (March 21) and Stockholm (March 29). Book your place today.

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Next-Generation CCM: Blending Customer Communications With Digital Enablement

CCM

Guest blog from Omer Minkara, VP & Principal Analyst, Contact Center & Customer Experience Management, Aberdeen Group. Digital has become table stakes for companies to survive and thrive in today’s market. Specifically, the term refers to the continuous increase in the adoption and use of digital technologies by both B2B and B2C buyers. It also refers to organizations adapting their activities to address changes in modern buyer / seller dynamics. To this point, findings from Aberdeen’s February 2017 CEM Executive’s Agenda 2017 study shows that 55% of businesses use at least ten channels (e.g. web, email, print and social media) to interact with customers. While the use of channels varies across businesses, the common thread is ensuring that communications taking place through these channels are personalized and yield intended results. Enter Customer Communications Management (CCM). This refers to companies using a technology platform that enables the automation of activities involved in creating and delivering personalized customer communications across all channels. These communications can include marketing materials, account statements and self-service website content. Recent findings from our 2017 CEM studies reveal that companies making effective use of CCM achieve 63% greater year-over-year growth in annual company revenue, compared to those that don’t use it (21.5% vs. 13.2%). Similarly, CCM users also achieve 5.2 times greater annual increase in customer retention rates (11.0% vs. 2.1%), and more than three times greater annual increase in return on marketing investments (18.0% vs. 5.6%) than All Others. Savvy users of CCM succeed because they exploit the opportunities digital channels and tools provide them to better interact with their customers. Figure 1 shows several examples of these capabilities. Figure 1:Use Content to Deliver Consistent & Personalized Conversations As depicted in Figure 1, CCM users are 15% more likely deliver consistent messages to customers (71% vs. 62%). This is vital for minimizing the risk of confusing buyers through different messages via multiple channels or delivered through multiple stakeholders. Additionally, CCM users grow their revenue by adjusting content delivery to become more proactive. This means that instead of sending customers content to respond to a request, clients are automatically provided with certain content without prompting the company. Proactive communications are invaluable in demonstrating to customers that the business is tuned in to regularly address client needs. In fact, by catering to customer needs through proactive (and relevant) communications, CCM users also maximize their success in cross-selling and up-selling. Specifically, they analyze content consumption patterns through service interactions such as self-service history, and use it to deliver targeted offers to drive additional spend. To this point, Figure 2 shows that CCM users are 96% more likely to regularly analyze how content consumption influences customer behavior across numerous digital channels (45% vs. 23%). Companies are able to better personalize customer conversations by using analytics to determine how each buyer reacts to different content. For example, marketers can analyze how buyers across different customer segments interact with content used across different campaigns to determine the types of content that are most likely to convert a prospect into a paying customer. Figure 2: Regularly Monitor Your Performance to Make Optimal Use of Content Analyzing customer behavior in relation to content also reveals process inefficiencies companies must address. Figure 2 shows that CCM users are 31% more likely to have this capability than All Others (68% vs. 52%).Analysis of customer experience data doesn’t just point out inefficiencies. It also helps organizations determine correlations between content and customer advocacy. Companies do this by identifying clients sharing positive word-of-mouth about their products and services, segmenting them, and determining the content used in interacting with these buyers. This ultimately helps companies use personalize conversations across each channel through the right content that is most likely to convert each buyer into a brand advocate. The Bottom-Line Digital technologies have brought fundamental changes to almost all industries. Companies using this as an opportunity to improve internal processes and external customer communications are uniquely positioned to succeed in today’s market. We recommend adopting the key capabilities listed in this article to maximize your performance results through digital enablement. View Aberdeen’s February 2017 CEM Executive’s Agenda 2017

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Celebrating Our Customers, Celebrating Your Success

We pride ourselves on many things here at OpenText: we are the undisputed leader in EIM, we are one of Canada’s top 100 employers and hands down; we work with the absolute best customers in the industry. As we mark the one year anniversary of our OpenText Elite™ Customer and Partner loyalty program, it’s important that we take time to say “thank you.” Technology is changing the world and we’re so proud of our customers and the amazing things that are being done with OpenText software: Together we enable doctors to access crucial patient data, pharmaceutical companies to bring lifesaving drugs to market, and keep planes safely maintained and on time, to name a few. Better Together I travel quite often to meet OpenText customers and one thing that always sticks out is the overwhelming number of customers who share their digital journey with us and I can tell you; we deeply value that feedback. I’m continually blown away by our customers’ dedication and excitement. Our customers make us who we are and drive our continued innovation to support their digital transformation. Nothing excites me more than learning how a customer is leveraging OpenText solutions to gain business efficiencies, lead in their markets or transform the world. Here is just one example from our customer, Solenis, a leading global manufacturing company: “…Implementing OpenText has increased our efficiency and helped drive down costs. And we have met our number one goal of helping key staff focus on the business, so we continue to grow, innovate and get our sales teams what they need in the field.” Charles Wallace, Chief Information Officer, Solenis …and here is just a small sampling of our amazing customers from around the world: OpenText Elite™ Celebrates a Big Milestone Thanks to our OpenText Elite™ program, we have a fantastic way to reward our customers for their willingness to share their success with others. Over the last year we have had over 500 members join – a truly incredible testament to our customers’ commitment and support. For those of you who have not joined OpenText Elite™ yet, it’s never too late. Here’s why you should join the OpenText Elite™ Program: 1. Recognition as an industry leader: It brings us great joy as a team to acknowledge the amazing things our customers do with OpenText as they lead the way the technology world changes. “It is a truly humbling experience to be recognized as an OpenText Elite™ winner by an industry leader, OpenText. HEINEKEN has always strived for improvement through innovation in the F&B sector and being acknowledged for our hard work is rewarding.”                                    Sofia Sergeenko                   Functional Consultant at Global Solutions, HEINEKEN 2. Connecting with future customers so they can learn from your success: We want to provide an opportunity for our customers to showcase how we’re changing the software landscape together. “I feel that my contribution makes a big difference when engaging with future customers of OpenText. Regardless of the time it takes out of my busy schedule, sharing how we use OpenText products brings value not only to them but to our organization as an OpenText Elite™ member.” Sonia Diaz-Sotomayor Senior Consultant, IT/IS, Bell Canada 3. Obtaining early access to insight and roadmaps: We value our customers’ input and relish the opportunity to have them help shape our roadmap and the future of OpenText. “By being part of the OpenText Elite™ Customer Loyalty Program, our organization obtains early insight into OpenText roadmaps and has the opportunity to influence the execution of those roadmaps.” Wouter Van Der Heever Enterprise Information and Performance Systems Management, DISTELL 4. Forming connections with like-minded industry leaders: Our customers are thought leaders who are shaping the industry through their innovative and transformative use of OpenText technology. “OpenText Enterprise World allows us to make connections with people in our industry and we help each other by advising on the best ways to implement. It is very valuable.” Clint Wentworth Manager IS Project, NuStar   5. Gain rewards and recognition: We put our money where our mouth is – our customers are the lifeblood of our business and we want to ensure that they know how important they are to us. #LoyaltyRewarded “Abu Dhabi Airports is excited to share how our efforts are recognized and rewarded as an OpenText Elite™ Award winner. This motivates the whole team to develop ways to utilize the features OpenText applications provide us.” Hamed Al Hashemi VP Information Technology, Abu Dhabi Airport   We are thrilled with the progress we’ve made in our first year and look forward to the continued growth of our OpenText Elite™ Loyalty Program. Thank you for your support and partnership, and happy anniversary, Elite! If you’d like to learn more about the program, please reach out to elite@opentext.com.

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Introducing The Golden Age of Innovation

By all accounts, we are entering the Golden Age of Innovation, which many are calling the Fourth Industrial Revolution. Some of the early innovations of the Fourth Industrial Revolution are visible in consumer and personal use cases, such as gaming, shopping, and entertainment. But the vast majority of these innovations—like software, Artificial Intelligence (AI), medicine, robotics, and transportation—have yet to impact society or productivity. When they do, their effects will be exponential and staggering. All industries will be transformed over the next 10 to 20 years by technology. These transformations will affect us as individuals, as a society, as businesses and governments, and will change how we live, work, govern, keep the peace, and wage wars. My recent book, The Golden Age of Innovation, describes the impact of this technology-driven revolution, exploring the opportunities it presents and the risks we face as it unfolds. I’m pleased to kick off a new blog series based on this book. In this series, I will continue my exploration of digital transformation with a collection of topics addressing the radical impact of the Fourth Industrial Revolution—from disintermediation to the subscription economy, automation, and the “Digital Self.” I invite you to follow the series, and together, we’ll discuss these topics in more detail: Is the Microphone Working? Industrial or Otherwise The Fourth Industrial Revolution The Impact on Business New Business Models Emerge Industries are Transformed New Skills are Required The Rise of the Machine The Impact on the Person The Digital Self The Impact on Government How Will We Measure the Golden Age? To read more, download The Golden Age of Innovation. I’ll be taking this message on the road for the Innovation Tour and Enterprise World. Learn more. I’d love to hear your thoughts. To provide feedback, or if you would like to see additional topics covered in future publications, please add your comment below.

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Challenges & Opportunities In Energy’s Digital Transformation

Innovation Tour

In this post we introduce guest blogger Martin Veitch, Editorial Director at IDG Connect UK, who will present at the Innovation Tour in London on March 21, 2017. The energy sector’s focus has historically been on the oil price dynamics of supply and demand. The implications for capital efficiency, business intelligence, data management, and enterprise information management technologies are now changing the once physical nature of energy. Globally both companies and business leaders are now grappling with a world that is more volatile and more complex, yet demands greater agility, more speed, and more digital competence. It’s a topic we’ve studied in depth, surveying senior executives in energy companies across the UK, Denmark, Finland, and Sweden. I’ll be presenting the research findings in greater depth and explaining why digital transformation is so crucial for the energy sector in my upcoming presentation at the OpenText Innovation Tour London on 21 March. Obviously I don’t have space to cover all of the main findings and implications from our research in this blog, so I’d like to touch on just some of the industry-wide challenges and degree of digitisation we are seeing. The biggest challenges the research discovered are around maintaining service levels, and avoiding down-time, which are both crucial for the energy industry as every down-time second impacts the bottom line. The second biggest challenge cited by our respondents involves customer retention and meeting industry regulations. New industry disruptors are more agile and able to adapt to new regulations faster, giving them a competitive edge in winning market share. And of course, just about every company is concerned about making enough money to maintain, repair and replace infrastructure and assets – especially the capital investments required in both digital technology as well as physical plants. Which leads to another issue – the current lack of digital skills and what to do about. (I’ll be touching on how some companies are addressing these challenges in my presentation). Respondents say the best opportunities for digitalisation lie in the ability to store and search media rich content effectively and gain insight to make better decisions. The three obvious areas of digitisation – keeping up with supply and demand and load balancing, administrative workflows, and customer contact – still have a long way to go in many energy companies. Most are focused on the front end looking at digital interaction with customers for workable and attractive solutions, but successful digital transformation requires a holistic, end-to-end view. But lack of budget, management buy-in, and being able to point to a hard ROI remain big barriers to digitalisation. There’s still time to get your house in order – most respondents in our research expect full digitisation to become a reality in the next 5-10 years. But the runway is getting shorter. As technology disrupts business models, adoption accelerates and competition increases, digital readiness will become one of the deciding key factors in long term success. If you look at every other industry that has gone through disruption, history shows that technology powers the winners – period. If you’d like to hear how the leading energy companies are getting their house in order, join me on the 21st March at the Innovation Tour.

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Analytics is Key to Digital Transformation in UK Manufacturing

digital transformation

When TS Elliot famously wrote ‘Where is the knowledge we have lost in information?’ he could easily have been speaking about the vast amounts of data produced by every manufacturing organization today. It’s the new lifeblood of business, but only if it can be properly harnessed. Recently research from OpenText and Sapio Research suggests that knowledge of data analytics is still in its infancy and is holding back Digital Transformation efforts within UK manufacturing companies. Manufacturing is one sector where Digital Transformation will have the biggest impact. It goes far beyond the process of digitization to improve productivity and efficiency. It provides the opportunity to embrace product and market innovation in a way that drives completely new revenue streams. Little surprise then that 80% of respondents to our ‘Digital Transformation in Manufacturing’ survey placed it as a key priority for their business. Change is accelerating While the transition to digital processes is disrupting the sector, it has taken companies some time to put in place the plans to respond. In fact, a full 90% of respondents who had plans admitted that they have begun implementing them within the last 24 months. Worryingly, almost one fifth of respondents didn’t have a plan. It’s very clear from our research that companies understand the value in the data created with any Digital Transformation program. When asked what they considered the key benefit of Digital Transformation, the ability to improve decision-making based on big data analytics came top of the list. Strategies are becoming actions Companies have started work on creating the environment where big data analytics can be fully exploited. Our survey showed that over 50% of respondents has already begun digitizing unstructured information into a contextual framework with a further 34% planning to do so within the next 18 months. In addition, almost half had introduced processes that filter and analyze internal data to help optimize business insight, with 47% planning to do so within the next 18 months. In terms of business operations, the ability to organize and analyze data is already producing benefits for manufacturing companies. When asked, almost two thirds of respondents said they were already using analytics to improve productivity. Over half the companies surveyed were using analytics to achieve supply chain efficiencies. Yet, more business oriented objectives are still lagging behind with only 40% of respondents said they were using analytics to enhance their levels of customer engagement. Analytics skills is still a barrier While our research report shows that real progress has been made in both Digital Transformation and the implementation of data analytics, it remains a barrier. In fact, handling and analyzing the vast volumes of data create ranks as the second and third most significant hurdle to the adoption of Digital Transformation. Manufacturing companies are struggling to gain visibility of all data held in various silos within the business. It is very interesting to note the affect that survey respondents see these legacy, non-integrated systems spread throughout the organization having on their business. Over 70% said that disparate and legacy systems had a negative impact on scalability, 60% said it impeded business agility and 70% felt it held back business innovation. There is an urgent need for organizations to consider implementing a robust infrastructure that supports data analytics as an enterprise-wide capability. With investment a major challenge for Digital Transformation programs, manufacturing companies need a centralized system that can provide complete control and visibility across all its information – both structured and unstructured – and allow advanced analytics to be applied for real-time business and operational decision-making. OpenText™ Content Suite is a Enterprise Information Management (EIM) system that provides the building blocks to underpin an organization’s Digital Transformation while connecting with legacy systems and information silos to maximise investment and speed the transformation and implementation processes. It includes the powerful OpenText™ Analytics Suite, including OpenText™ Big Data Analytics (BDA),  whose advanced approach to business intelligence lets it easily access, blend, explore, analyze and display data. Want to find out more about how Digital Transformation is affecting UK and Nordic manufacturers? We are presenting the results of our Digital Transformation in Manufacturing Survey at the OpenText Innovation Tour in London (March 21) and Stockholm (March 29).   Join us at either event and find out more.

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General Data Protection Regulation (GDPR) – How can Customers use OpenText and SAP for Timely Deletion

GDPR

In part 1 of this blog, we discussed what the General Data Protection Regulation (GDPR) means for enterprises and how data and content, which is generated and stored in the course of day-to-day business processes in SAP is subject to this regulation. Our example was the incoming vendor invoice on paper, which is scanned, attached to the SAP transaction via ArchiveLink and then securely stored on the OpenText™ Archive Center. This paper invoice may contain a contact name of the supplier, a phone number, an email address, all data that when combined together could identify an individual, such as an employee of the supplier. This personal data is protected by GDPR. Let’s recap: Collecting and processing data is legitimate as long as it serves a justified purpose, as defined by GDPR, “if data processing is needed for a contract, for example, for billing, a job application or a loan request; or if processing is required by a legal obligation …” Justfied purposes for storing and retaining personal data include laws that govern retention of content, such as tax relevant data and documents, where retaining the scanned vendor invoice or a customer bill is not only justified but an obligation. BUT: When the legitimate reason for the procession has expired, the transactional data and the attached ArchiveLink document need to be deleted. In our example above, the scanned vendor invoice needs to be retained as long as taxation laws require, but be deleted just after this retention period, which is 10 years in Germany for example. This means that enterprises are advised to set up retention rules to govern the necessary retention AND put processes in place that will delete data and attached content in a timely fashion, when it is no longer needed, or when the justified purpose for retention has expired. Retention Management for SAP® Data and Related Content Neither OpenText nor SAP can provide legal advice or guidance in this matter, but they do offer software capabilities that help customers set up policies and procedures for retention and deletion of transactional data and attached content. The products that play together here are SAP® Information Lifecycle Management (SAP ILM) and OpenText™ Enterprise Content Management solutions for SAP: OpenText™ Archiving, Document Access and Extended ECM for SAP Solutions (see OpenText Suite for SAP). SAP ILM provides records management for SAP data and can also be configured to apply the same retention schedule to the attached SAP ArchiveLink documents. However SAP ILM itself does not provide the storage for data and documents but relies on ILM aware platforms for this purpose. OpenText Archiving, Document Access and Extended ECM provide the compliant ILM aware platform for ILM data files and ArchiveLink documents. These solutions store the content, enforce the retention and holds from ILM and pass it up to the hardware level, and, at the end of the lifecycle, execute the deletion request coming from SAP ILM. SAP ILM acts here as leading application for the retention management of SAP data and attached ArchiveLink documents. So far so good, if you only look at SAP data and attached ArchiveLink documents. Enterprise Wide Records Management However, personal information in business documents does not stop at the boundaries of the SAP applications. You will also have content outside SAP, which you want to retain and manage, put under records management and execute timely deletion when the reason for retention has expired. This is where Extended ECM for SAP Solutions comes into play. Extended ECM provides DoD certified records management for SAP ArchiveLink documents as well as NON-SAP content, which can be related to SAP business objects via the ECMLink module. A customer that wants to benefit from the DoD certified records management for documents can use Extended ECM for all unstructured content inside and outside SAP, whereas SAP ILM provides the records management for SAP data. If SAP ILM is to delete data which relates to Extended ECM content that has not yet expired, both solutions can synchronize, so that business documents in Extended ECM will not be orphaned by SAP ILM. At the same time, Extended ECM represents the ILM aware storage platform for SAP data and documents. So SAP ILM together with Extended ECM for SAP Solutions can manage the retention of data and unstructured content inside and outside SAP. Where to Find More Information Learn more about OpenText’s capabilities to support GDPR requirement by reading our other blogs here and here. You can also visit our main web site and learn how OpenText EIM offers capabilities that support customers to prepare for GDPR.

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Digitalisation: Hits and Misses in the Energy Industry

energy

In this post we welcome guest blogger Dario Nazemson, Business Unit Manager, IDG Connect Nordics who will present at the Innovation Tour in Stockholm on 29 March. The speed and scale of the digital transformation is impacting multiple industries, including energy. Whilst much of the sector’s focus has historically been on the oil price dynamics of supply and demand and the implications for capital efficiency, the speed and scale of advancing digital technologies like business intelligence, and data and enterprise information management are now digitally transforming the once physical nature of the energy industry. Companies and business leaders are now grappling with a world that is more volatile and more complex, yet demands greater agility, more speed, and more digital competence. It’s a topic we’ve studied in-depth, surveying senior executives in energy companies across the UK, Denmark, Finland, and Sweden. I’ll be presenting the research findings in greater depth and explaining why digital transformation is so crucial for the energy sector in my upcoming presentation at the OpenText™ Innovation Tour Stockholm on 29 March. As I don’t have space to cover all of the main findings and implications from our research in this blog, I’d like to touch on just some of the industry-wide challenges and degree of digitisation we are seeing. The biggest challenges the research discovered are around maintaining service levels, and avoiding down-time, which are both crucial for the energy industry as every down-time second impacts the bottom line. The second biggest challenge cited by our respondents involves customer retention and meeting industry regulations. New industry disruptors are more agile and able to adapt to new regulations faster, giving them a competitive edge in winning market share. And of course, just about every company is concerned about making enough money to maintain, repair and replace infrastructure and assets – especially the capital investments required in both digital technology as well as physical plants.  Which leads to another issue – the current lack of digital skills and what to do about. (I’ll be touching on how some companies are addressing these challenges in my presentation). Respondents say the best opportunities for digitalisation lie in the ability to store and search media rich content effectively and gain insight to make better decisions. The three obvious areas of digitisation – keeping up with supply and demand and load balancing, administrative workflows, and customer contact – still have a long way to go in many energy companies.  Most are focused on the front end looking at digital interaction with customers for workable and attractive solutions, but successful digital transformation requires a holistic, end-to-end view. But lack of budget, management buy-in, and being able to point to a hard ROI remain big barriers to digitalization. There’s still time to get your house in order – most respondents in our research expect full digitisation to become a reality in the next 5-10 years. But the runway is getting shorter. As technology disrupts business models, adoption accelerates and competition increases, digital readiness will become one of the deciding key factors in long term success. If you look at every other industry that has gone through disruption, history shows that technology powers the winners – period. If you’d like to hear how the leading energy companies are getting their house in order, join me on the 29th March at the Innovation Tour. You can register here.

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Digital Plants and Conveyor Belts – a Different Approach to DAM

DAM

The world’s largest museum complex is probably not the first thing that comes to mind when you think about who are the natural users of a leading edge Digital Asset Management (DAM) system. After all isn’t Digital Asset Management all about managing your online brand assets like photography and videos so that your website and apps look consistent and only use approved imagery? Not really. As I wrote recently DAM isn’t just for pretty pictures any more, as many companies are finding new uses for the technology. However most of those new uses are still centered on managing current content. Some companies have begun to use DAM technology to leverage the value of corporate archives, but these tend to be limited to the reuse of old photographs and documents. But the Smithsonian National Museum of Natural History in Washington DC is using the OpenText™ Media Management (OTMM) DAM platform in a whole new way; to catalog millions of plant specimens, some of which are over 300 years old. The Washington Post recently reported on this fascinating project, and the innovative conveyer belt process that has been developed to enable the team to handle the sheer volume of data they are digitizing. The specimens are pulled out of the cabinets and placed in the moving conveyor belt that automatically clicks high resolution photos at the rate of roughly one every 4 seconds. The image files are created, automatically cropped via a tool and then ingested into OTMM after a metadata tagging process. Prior to the OTMM-based digital transformation project the museum faced two major challenges: New specimens were arriving in the collection at a rate of 20,000 to 30,000 a year, and as a result the collection was growing quicker than they could catalog it. At the start of the new project it was estimated that the overall collection numbered around 5 million specimens. The traditional digitization process was too slow. It had taken 40 years to catalog the first 1.5 million specimens. The new OTMM-based project initiated by the Smithsonian’s Digital Program Office is on track to have cataloged the next 1 million objects in just eighteen months. The Natural History Museum project isn’t the only part of the Smithsonian that is using OTMM. They have 12 museums that are contributing content to the DAM and currently have millions of assets in their OTMM system and that number is increasing rapidly each day. Most or all of these images are made available to public & researchers free of cost online at the Collections Search Center site.

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OpenText WFO Video Series: Why Should Customer Experience be a top Enterprise Goal?

WFO Video Series

When faced with a choice of products, or suppliers, how to decide which one to use? Is it simply price, or like most people does your previous experience with the company or product factor into your decision? In today’s fast-paced world no one really has the marketplace to themselves anymore. New innovations quickly give rise to competitors. As a result everything is a commodity, making it ever more difficult to achieve market share based on product alone. Customer experience has become the key business differentiator. Management consultant and author Peter Drucker once wrote that “the purpose of a business is to create and keep a customer.” This may seem to be an obvious statement, but many companies traditionally focus on the first half of the statement to the detriment of the latter part. It can be argued that keeping a customer is more important than finding a new one – for a repeat customer is often an engaged customer. According to a 2015 article from McKinsey & Company, developing a customer experience strategy is now one of the top 3 initiatives for 90% of CEOs.  And as stated by analyst Brian Solis in “The 2016 State of Digital Transformation,” of 500 participating digital strategists who were responsible for digital transformation, 55% cited “evolving customer behaviors and preferences” as the primary catalyst for change. In today’s digital world the customer is not only driving the decision on when and how interactions are made, they are also demanding a more personalized experience. But simply improving individual transactions with the customer at specific points in the process is not enough: to make a real difference the customer experience should be a continuous connected journey that allows data to flow across every step of the customer lifecycle, leaving the customer with a “they really know me” feeling. One of the most commonly overlooked areas of the customer journey is post sales when the greatest value is to be obtained. A well-defined post sales process aligned with a foundational customer experience strategy can increase the customer’s lifecycle value and often deliver overall revenue multiple times that of an initial product order. The companies that are focused on delivering exceptional customer service are demonstrably winning more business and are on faster growth paths. Customer-centric brands generate more loyalty and find that their customers become their strongest brand advocates. Think about the brands and companies that you like to deal with. Shouldn’t you be delivering a similar, or even better, experience to your customers at every interaction? For a real life example of why customer experience should be a top enterprise goal, Aflac’s Jason Goodroe discusses how customer experience has been defined as one of the four key pillars of the business. Listen to Jason explain why customers, irrespective of technology or process, want to build loyal relationships with companies that provide value and trust. And don’t forget to hear how the other Video Series speakers explain why customer experience is a top enterprise goal in 2017. In all, our speakers answer eight important questions about driving awareness of the contact center within your organization and explain why this should be of interest to every contact center agent, supervisor, manager and executive. So when you have a few moments be sure to hear how our panel of experts answered all of these questions: What defines a positive customer experience? Why should customer experience be a top enterprise goal? How can the contact center be positioned as a leader in customer experience? How can the contact center align with the top priorities of executive leadership? What’s the best way to coordinate contact center goals with other business units? What performance goals resonate most with executive leadership? What other tools demonstrate contact center impact to the executive team? What are some lessons learned about reporting to the executive team? Continue the conversation by commenting on our blog posts, check out Steve Graff’s blog to read his take on the first question in the series, What defines a positive customer experience?

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Bye-Bye Repetitive Marketing Tasks, Hello Compelling Customer Conversations

For nearly two decades, email has been the main message bearer in marketing. But with tightening regulations, it is becoming less and less viable to simply email your database—not to mention the ‘email fatigue’ we all feel; it’s simply becoming a less effective tactic. As marketers look to uncover alternative ways to get their message out, many organizations are opening deeper, more effective dialogues with customers through compelling content. Today’s customers desire interactive conversations with organizations, to get to know not just the product but the organization behind it. Email as a marketing tool will be dead in 5 years or less, and marketers need to think quickly about what will replace it in the age of the digital customer. Content and conversations, self-service and self-selection will form the epicenter of B2B and B2C marketing. Creating rich, engaging and, most importantly, timely customer interactions from initial contact through to buying takes time, data and a deep understanding of both current and future customer requirements. And while many of today’s marketing leaders recognize this, most would admit that they just don’t have the insight they need to really deliver on a customer-centric approach. But, today’s marketing automation tools can help create digital experiences. These tools nurture close relationships, and engage customers at every step of the decision journey to drive brand loyalty, revenue, and customer lifetime value, freeing up marketers to focus on creating compelling content. The Power of Content Content alone is not enough. It must be compelling. It must be engaging. And, it must be optimized to reach your customers at each touch point. Compelling content draws audiences in to your message. They begin a journey with the brand, from awareness to consideration to decision and advocacy. Unlike email, the ultimate interruption-driven marketing tool that pushes your message, content and experience marketing drives the journey through engagement with your customer, and is more efficient—costing over 60% less (62% less) than traditional campaigns. The Journey There is no single “channel” that today’s marketers can rely on to engage with customers. Customers today interact via multiple avenues, whether through social channels, a brand’s “owned” digital properties or more traditional routes like the media. In each case, the customer must experience a continuous, personalized and authentic digital journey that offers the best experience at every point of interaction and in every phase of the lifecycle. With a lineup of engaging content, customers can delve into the information they are looking for in their preferred medium. For instance, almost 50% of Internet users look for videos related to a product or service before visiting a store (Google, 2016). In a recent report on demand generation, 96% of B2B buyers said that they want content with more input from industry thought leaders, and over 50% said they relied on content as they researched buying decisions—from both the vendors and independent third parties. With all roads leading to the power of engaging and personalized content, it’s time to re-focus on the future of marketing. The Freedom to Create More Content Knowing how important content is, it’s time to balance your efforts. The bottom line is this: a big driver of today’s conversion rates is compelling content. The better the content, the better the conversion rate. But with all the technology and touch points and channels in play, there’s no question that marketers are making tough choices on where to spend their time. Automate your marketing processes and free your big thinkers to create the kind of content that speaks to your audiences in personal terms. For more information on how you can automate your marketing operation, check out the OpenText Experience Suite.

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International Women’s Day – Be Bold for Change

Progress is the result of human action. The proof is in our history of innovation—from eradicating disease to exploring space to connecting the world with the Internet. Progress requires bold pioneers, inquisitive minds, and a thirst for change. And yet, despite all of the successes of the past, we have yet to achieve gender equality in the workplace. The sobering reality is that women around the world still make significantly less than their male counterparts. This disparity is more pronounced in some countries than others—in Canada, for example, the gap is more than double the global average. While it is true that we’ve made some progress closing it, according to the World Economic Forum we won’t eliminate the gap entirely until 2186. This is not acceptable, and it is up to us to “be the change we want to see in the world.” Throughout my career, I have seen the unequivocal and positive effects of a workforce made up of a mixture of generations, genders, cultures, and perspectives. I have long been an advocate on the direct relationship between diversity and innovation. In my opinion, the two are inseparable. Research shows that diversity drives innovation by providing a variety of perspectives. As a result, the more diverse a workforce, the more creative the organization. At OpenText, we recognize that gender is a key component of diversity and are committed to advancing equality and the representation of women in the workplace. As a global company, diversity is part of our DNA. Together, #WeAreOpenText. Our numbers reflect this commitment. Women make up 30% of our workforce. But we refuse to grow complacent and rest on our laurels. While we maintain a higher-than-industry gender diversity average, we continually strive to improve our numbers and create opportunities for women.   ***Continue to Page 2 ***

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Five Compliance Challenges Facing Your Organization in 2017

compliance challenges

2017 is turning out to be a tumultuous year for compliance. A combination of Brexit, a Trump presidency and the reform of EU privacy rules has put regulatory change and uncertainty back into the spotlight. Mega-size fines have returned too and compliance officers worry about personal liability more than ever. 1. The GDPR – the countdown is on If your company hasn’t familiarized itself with the General Data Protection Regulation (GDPR) yet you may already be behind. The GDPR was ratified in May 2016 and designed to bring personal data protection into the digital age. It imposes stringent requirements about how companies store and handle the personal data of EU citizens. The regulation will have far-reaching impacts – from how organizations obtain consent, use cookies on their website, to giving teeth to the right to be forgotten. Don’t think that, as this is EU legislation, that GDPR won’t affect you. It affects any organization that collects and stores personal data of EU citizens. With the GDPR becoming enforceable in May 2018, the countdown is on for organizations to prepare. The GDPR will impact more than just the Compliance team but indeed many other parts of the business. Key Steps An important first step is to have clarity of the personal data processing practices and content within your organization, including: • What personal data you process? • Where it is stored across the organization? • Who has access to it? • What consent has been provided and where it is documented? • Where it is transferred from and to (including to third parties and cross-border)? • How it is secured throughout its lifecycle? • Are there policies and processes in place to dispose of personal data? Visit OpenText GDPR to learn more about the regulation and how OpenText can help. 2. Pressure on the Compliance function not letting up Compliance officers have never had a higher profile than they do now but with great power comes great responsibility. Pressure on the compliance function has been steadily increasing and 2017 is no exception. For example, sixty-nine percent of firms surveyed in 2016 expected regulators to publish even more regulations in the coming year, with 26 percent expecting significantly more. In addition, personal liability appears to be a persistent worry. Sixty percent of survey respondents expect the personal liability of compliance officers to increase in the next 12 months, with 16 percent expecting a significant increase. In addition, with the GDPR comes the rare explicit requirement to appoint a qualified compliance role, the Data Protection Officer (DPO). Though the GDPR does not establish the precise credentials DPOs must have, it does require that they have “expert knowledge of data protection law and practices.” Key steps Compliance officers don’t need to be technology experts but need to know how to leverage governance, risk and compliance solutions to make their jobs easier. Other key steps include ensuring your policy framework is up-to-date and that staff understand and are trained their compliance responsibilities. Read the AIIM white paper and infographic: Managing Governance, Risk and Compliance with ECM and BPM. 3. A new administration means changes in regulatory priorities President Trump has been clear and consistent on his desire to reduce the amount of regulations in place. From financial services to the environment, compliance officers are bracing for the changes and what it will mean for them. Most industry experts agree that even where regulations are streamlined or reformed, there will be plenty of work for your team to do to address the vacuum left by previous regulations or to interpret the way the new regulations need to be applied. The picture may be uncertain at the moment but you can be certain that regardless, any changes means there’ll be work to do for your Compliance team. Key steps How do you prepare for the unknown? Many pundits advise wisely that it’s business as usual and not to re-draft policies and procedures just yet. Now’s a good time to evaluate your overall compliance program however. For example, if your organization does not have its regulatory information management house in order now is the time to clean up. Whether your firm is based in or works with the United States, the result of the potential changes to the regulatory landscape means that businesses will need to be adaptable in order to quickly take advantage of opportunities, mitigate risks, and stay in compliance. Learn about OpenText compliance solutions. Continue to read compliance challenges 4 and 5 on page 2.

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The Future of ECM is Coming Into Focus: Here’s Where to Start

ECM

Enterprise Content Management (ECM) is changing. It’s an idea everyone involved in content management has heard with increasing frequency over the past couple of years, and it’s driven by the reality that Enterprise Information Management needs are changing immeasurably. Enterprises are now embracing simple, lightweight solutions, ones that nimbly address highly varied and very specific productivity and control issues. These applications can be either in the cloud or on-premises and —like blocks in a foundation — build on each other to result in optimal ECM coverage. It’s a different approach than the traditional methodology of attempting to blanket the entire organization with an all-encompassing ECM solution. And it’s such a step-change in concept and practice that the respected analysts at Gartner have even decided that ECM doesn’t cut it as a sector name anymore. In their estimation, the new topography is better encapsulated by “Content Services,” a nod to the decentralized, purpose-built applications that organizations find much easier and effective to implement. Now, all this may promise unheralded levels of agility and integration, but I can also see LOB and IT execs shaking their heads and thinking: “We’ve just spent a decade investing in our ECM infrastructure. Are we starting all over?” No!  The short answer —and single, most important thing to remember — is: No. The key to sustaining momentum and achieving future ECM success is centered around building on what you already have. There’s just a new way of thinking about what comes next. Resources to Speed your Learning Curve Over the past month, I’ve had the opportunity to participate in a few initiatives with the industry experts at AIIM that have gone a long way to helping explain this path forward: First up was an extremely well-received roundtable webinar inspired by the completion of the OpenText acquisition of Documentum. This must-see webinar for OpenText AND Documentum customers provides straightforward, detailed insight into our vision for the two product families, including future integration plans. This overview morphed into a wide-ranging panel discussion on what the overall future of ECM looks like and the competencies organizations need to have to excel in this new world. That was followed by a pair of related events; the release of an AIIM-authored eBook, “Revolution of Evolution? 10 Strategies to Navigate the Shift from ECM to Content Services” and an accompanying webinar, Next-Gen Information Management — Succeeding in a New Era. Both provide excellent insight into the context behind this shift in ECM strategy, the constants that will always hold true, and the questions and actions organizations need to address to chart their journey. Start by reading the eBook, then view the accompanying webinar-on-demand. Next up is the annual AIIM Conference in Orlando, Florida from March 14-16. OpenText and Documentum experts will be at the event, including hosting a number of sessions on understanding and capitalizing on the evolution of ECM. If you’re planning on attending, book a 1:1 meeting with us, there’s no better way to get up-to-speed than connecting face-to-face and asking what this all means for you.

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The 3 Most Asked Questions about Fax Technology in Healthcare

healthcare

Freshly back from HIMSS 2017, I spent some time reflecting on the rich conversations that I had with tradeshow attendees. These top three questions were so consistent among the conversations that I wanted to share them, just in case you missed them at HIMSS: Q: How are healthcare organizations using fax solutions to save costs or be more efficient?  A:  Two words: Simplify and Optimize. Fax and paper continue to dominate patient information exchange, accounting for as much as 90% of all exchanges. First, it’s important to simplify their faxing by eliminating the security and compliance risk of standalone fax machines and manual faxing and replace them with a secure, digital fax solution. This eliminates unnecessary paper and the costly, time-consuming task of manual faxing. Second, healthcare organizations should optimize their faxing by integrating their digital fax solution with Electronic MR systems, MFP devices, document management systems or other healthcare applications. By integrating electronic fax with the devices and applications they use the most, healthcare providers get access to the right patient information when they need it and where they need it. Q:  What trends are you seeing with fax technology in healthcare? A:  There are 2 major trends in healthcare today:  Fax volumes are rising (yes, you heard me right) and hybrid fax deployments.  First, fax volumes are rising.  As more patients enter the health system, attributed to more people having affordable access to healthcare and the healthcare needs of the aging population, fax volumes increase, too. The second trend is the shift to hybrid fax deployments, which combine an on-premises fax server with cloud-based fax transmission. Hybrid fax deployments are becoming more and more popular because they simplify existing on-premises fax server deployments and allow healthcare organizations to leverage the cloud for just the transmission of the fax. In addition to simplifying the deployment, the on-premises fax server keeps its integrations with EMR systems, MFP devices, and other healthcare applications and there is no change to the user experience or established patient information exchange workflows. Q:  Where is fax technology headed and how is OpenText innovating in healthcare? A:  As other forms of patient information exchange develop, such as Direct messaging and other forms of electronic exchange, it’s important that fax technology evolve to coexist with these new forms of exchange because fax is so deeply rooted in healthcare. When fax coexists with other forms of exchange, it allows healthcare organizations to begin to transition to new forms of exchange at their own pace, or as importantly, at the pace of other providers in the healthcare continuum, with minimal or no change to the user experience (or better yet, make the user experience better!). For example, OpenText has recently launched an innovative healthcare solution that combines fax and Direct messaging in a single solution, allowing healthcare organization to convert an outbound fax to a Direct message whenever possible with no change to how they send a fax today. I’m already looking forward to HIMSS 2018 and the great conversations we will have then!

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Regulatory Matters: Collaboration is key for Life (Sciences) in 2017 – Part Two

Regulatory

The Life Sciences sector is very innovative. The Boston Consulting Group found that almost 20% of the world’s most innovative companies came from the sector. In fact, PwC suggests that Healthcare will surpass Computing as the largest industry by R&D spend by 2018. Shining a light on the innovation paradox Yet, for all the effort, there is still a lack of new products. Last year marked a six-year low for new drug approvals by the FDA. The rise of treatment-resistant superbugs has shone a light on the fact that there hasn’t been a completely new antibiotic for over 30 years. The poor return on R&D investment explains the paradox between innovation increase and new product decrease. Deloitte found that returns on research and development investment at the top 12 pharmaceutical companies fell to just 3.7 percent in 2016 from a high of 10.1 percent in 2010. While many Life Sciences executive remain upbeat about the development of new medicines, it’s clear that two factors will drive success: achieving improved operating efficiencies internally and creating more strategic alliances externally. The Internet of Things will increase the focus on cybersecurity In 2014, the Financial Times found that cyber security for the healthcare and pharmaceutical industries worsened at a faster rate than any other sector. As the sector becomes more and more IT driven in terms of innovation, R&D and manufacturing, cyber crime has been increasing in areas such as intellectual property (IP) theft, international espionage and denial of service attacks. As the sector looks to embrace digital transformation and the Internet of Things (IoT), cyber security is likely to be top of every CIOs priority list. The trend towards preventative and outcome-centric models relies on the ability to monitor and measure the health of individual patients. Whether wearables or other intelligent medical devices, the requirement for some form of online connectivity creates a vulnerability. At a recent cyber security conference, experts showed how items such as an insulin pump can be hacked. This represents a real threat to the individual but also raises the possibility of devices such as pace makers being used to launch denial of service on other targets. Addressing cybersecurity concerns, the FDA has issued guidance to medical device manufacturers to mitigate and manage cybersecurity threats. The excitement around IoT has to be tempered with the need to deliver water-tight security. This stretches way beyond the ability to gain access to user devices. It has to encompass data in transit and the management and storage of data within the life sciences company itself. Security-by-Design – built into all OpenText solutions – will become a foundational element of every part of the IT infrastructure for healthcare and pharmaceutical companies. Achieve operational efficiencies to improve margin and time to market With the focus firmly on value-based medicine, personalized care and population health, the Life Sciences sector is experiencing new levels of convergence and collaboration. Companies have begun to transform their business operations through collaborative product development and new service development. The ‘not invented here’ model is no longer appropriate for increasingly complex and expensive product lifecycles. As Deloitte points out: “Collaborating throughout the product development lifecycle is becoming an increasingly common and effective way for biopharma and medtech companies to offset mounting R&D costs, funding shortfalls, increasing disease complexity and technology advances”. In 2017, life sciences companies are transforming their traditional, linear supply chain into a supply chain of dynamic, interconnected systems that integrate their ecosystem of partners. This new supply chain modality allows organizations to extend their value chain beyond product development into the enablement of care in an increasingly outcome-based healthcare environment. By creating a secure, open and integrated supply chain, organizations are able to reduce cost, increase quality and manage risk across the partner ecosystem. It provides the foundation to quickly and easily extend the partner network for Life Sciences. As you evaluate your business strategies and priorities over the next 12-18 months, collaboration with trusted partners like OpenText can prepare your organization for the challenges ahead. Contact me at jshujath (@opentext.com) to discuss how we can help. If you missed the first blog in this two part series, you can view it here.

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OpenText WFO Video Series: Defining a Positive Customer Experience

WFO video series

To paraphrase that old adage about art: I may not know much about customer experience, but I know what I like. As professionals in the contact center business, we know a thing or two about customer experience because we live and breathe it every day. We would generally agree, I think, that customer experience is commonly described in terms of our customers’ personal opinions about their interactions. So the simple definition of a positive customer experience might include delivering a service that leaves customers with a feeling of having been heard, of having received satisfactory resolution of an issue, and of thinking that, yes, they just might recommend us to a few friends. But the full definition of a positive customer experience is much more nuanced because it must take into consideration both the customer and business sides of the equation – the employees and technology in place that actually enable the delivery of effective interactions, as well as voice of customer analysis and reporting that make it possible to gain insight into customer expectations. What defines a positive customer experience? is the first question asked of our 2017 Video Series speakers, and for his part Keith Dawson maintains that there are in fact two components to customer experience: What the customer perceives What impact it has on the business Listen to what Keith has to say about the importance of “tangible business benefit” in understanding what defines a positive customer experience. While you’re at it, hear how the other Video Series speakers define what they mean by a positive customer experience. You might find that your own definition of a positive customer experience is confirmed..…or perhaps tested and ultimately broadened. In all, our speakers answer eight important questions about driving awareness of the contact center within your organization and explain why this should be of interest to every contact center agent, supervisor, manager and executive. So when you have a few moments be sure to hear how our panel of experts answered all of these questions: What defines a positive customer experience? Why should customer experience be a top enterprise goal? How can the contact center be positioned as a leader in customer experience? How can the contact center align with the top priorities of executive leadership? What’s the best way to coordinate contact center goals with other business units? What performance goals resonate most with executive leadership? What other tools demonstrate contact center impact to the executive team? What are some lessons learned about reporting to the executive team? And continue the conversation by commenting on our blog posts with #CCTRImpact or by using the “Get in Touch with a WFO Expert” form on the Video Series pages.

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OpenText Positioned as a Leader Again in 2017 Gartner Magic Quadrant for Customer Communications Management (CCM) Software

Gartner

Gartner recently published its 2017 Customer Communications Management Software Magic Quadrant, with OpenText positioned as a Leader in this report. Gartner evaluated both OpenText™ Communications Center and OpenText™ Exstream before the acquisition. However, Gartner focuses on each vendor’s technology execution, strategy and vision – not product specifics – so there is only one OpenText “dot” on the graphic. The 2015 CCM MQ positioned both OpenText Communications Center  and Exstream in the “Leaders” quadrant. In the latest version, we believe we maintain a strong position as a Leader due to our breadth of capability across our CCM products and the strength of our direction to combine Communications Center and Exstream into a single platform, thereby bringing additional value to our current and prospective customers. Our position on the “Ability to Execute” axis improved from the average position of Communications Center and Exstream in the 2015 MQ. The position on the “Completeness of Vision” axis held steady compared to Exstream’s placement in the last report, which we believe is a good sign that Gartner approves of our strategy to provide a single flagship CCM offering to enable business users to easily design and deliver omnichannel communications – including web, mobile, SMS, and print channels. The future is bright and exciting as we bring our CCM products together into a single, powerful platform to meet any omnichannel CCM requirements. This is happening now and will bring benefits to all current customers of Communications Center Enterprise (formerly StreamServe), Exstream, and Communications Center CRM (formerly PowerDocs). Get your copy of the full report here.

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