Digital Transformation

Beyond the Tipping Point: The Role of Digital in the Financial Services Customer Journey

financial services

Something very significant happened in late 2015. It happened quietly and I guess many people didn’t even notice. For the first time, there were more mobile-based transactions than from traditional bricks-and-mortar branches. The tipping point had been passed. More importantly, it was the customers and not Financial Services firms that determined when it happened. So if your customers are going to choose how and when to engage with you, you need to be able to offer services at each stage of the digital customer journey. The same trend towards new channel adoption is beginning to play out with mobile and online banking. In 2015, the amount of mobile transactions in retail banking grew by 54% compared with only 2% for online. We’re not yet at parity but we’re not far away. Atom Bank is an excellent example of what mobile-only Financial Services can look like. The success of the new branch-based model of Metro Bank in the UK, however, illustrates something that should be perfectly obvious: customers want to consume services the way that best suits them – often the way they are simply most comfortable with. Financial Services organizations – whether banks, insurance firms or investment houses – need to be aware of this fact. This thought occurred to me as I read a recent report entitled ‘The evolution of Financial Services’.  It mainly looks at the effect that Digital Transformation is having on what it calls “traditional, challenger or disruptor” Financial Services companies. It talks a lot about customer experience but, in the end, it actually focuses on the communication channels. But customers don’t really care about channel – that’s simply a means to an end – they care about simplicity, transparency, fairness and security. And, they expect that from their provider before they have even bought something through to the day they leave – and beyond. Financial Services companies have worked hard to create a single view of the customer – with varying degrees of success – now they need to create a single view of the digital customer journey.  Here are my 4 top tips to building excellent customer experience: The world’s gone digital. It just forgot to tell some important people! There is no doubt that mobile banking and insurance apps are changing the way that many people consume financial products. And the smartphone is the firm favorite of the Millennial. But Forbes has pointed out a small paradox. Although 80% of retail customer transactions were through self-service applications, more than half of US banking customers had visited their branch within the last six months. Incredibly, a lot of people still prefer their statements printed out and mailed to them. So omni-channel isn’t always a process of channel migration and Digital Transformation isn’t always about replacing paper documents with electronic equivalents. For most Financial Services companies, the requirement is for a flexible and agile infrastructure that allows a mix of channels from which customers can select. It requires a means of managing content so that digital data management is combined with traditional document and records management. In this way, firms can deliver the experience customers expect. Simple, secure and satisfactory. The three S’s for Financial Services success It is always tempting to think we should always be looking to ‘surprise’ or ‘exceed expectations’ but customers seem to want something much more grounded. Within Financial Services, they want products that are simple and fair (no hidden fees or unnecessary jargon). More widely, customers simply want to be satisfied with their experience – which can be defined as you doing what you say you’re going to do – and that is also the best way to build loyalty. This is, of course, easier said than done.   I think that an Enterprise Information Management (EIM) platform to collate and coordinate all customer data and gives everyone – including your customer themselves – access to the right information whenever they need it. Personalization is most powerful when it moves beyond marketing Digital marketing has had a major impact in Financial Services. Organizations have begun to maximize the value of the data they have. It allows them to better understand and connect with customers. Being able to personalize and create marketing around their life events leads to much more targeted and successful campaigns. But, here’s an interesting thing: customers are happy to give you permission to use their data for personalized marketing purposes – although most don’t really want to. They do, however, actively want you to personalize their purchase and support experiences. This is something that requires a fresh approach to how Financial Services look at Big Data. There needs to be a move towards real-time data analytics without which one industry expert said: “data warehouses become white elephants that serve a very specific purpose“. It’s not the Channel. It’s the consistency that’s important Here’s a popular myth: People hate contact centers. No, they don’t. What they hate is the poor experience that pretty much everyone has had when dealing with a contact center. If your experiences had been nothing but great then I bet you’d love contact centers. So if you can provide an excellent customer experience – and ensure that it’s consistently great regardless on which channel your customer uses – then the idea of the traditional customer service scenario – Press 1 to descend into a deeper layer of hell – can be consigned to history. Customer Communications Management provides a solid foundation for delivering consistent, targeted and personalized communication whichever channel or channels your customer prefers. Gartner has suggested that 89% of companies will compete mainly on the quality of the customer experience they provide. There’s no doubt that digital is transforming the business processes of Financial Service firms and how they engage with their customers. But successful companies will be the ones that understand that excellent experience is based around customer preference. You’re going to need to know what customers want as they move along their buying journey. Additionally you must deliver the personalized experience that appeals to each of your individual customers – not just the ones that like exciting new technologies!

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Excellence in Sales Order Entry – From Document to Digital

digital sales orders

Sales orders, the documents with the odor of company success attached to them! Physical (or electronic) proof that your company sells products that your customers like. Proof that you make money and create and retain jobs. So what could there be that is not to like about sales orders? Well, the question here is: Are your sales orders solely creating value and financial success for your company? Or are they also costing you money? Are they slowing down your business? Maybe even creating conflicts with your customers? Fully digital sales order process – why? In a digital world, you should consider automating your sales order entry process from beginning to end. The digital sales order process should start the minute a sales order enters your company, from document to digital. This should be independent from your input channel – whether your sales orders reach you via EDI, email, fax or paper document, make sure to digitize your sales orders when they first touch your company. Many of our customers have EDI in place for 60 – 80% of their sales orders. However, the remaining 20-40% slows down their business, preventing them from having full insight and transparency of the status of ALL sales orders. The impact When our customers started to capture the data also from PDFs, emails and paper documents, they realized how valuable a fully automated a digital process is. With their model from document to digital they turned the sales order process into a fast, customer-friendly and fully transparent process. They now have full insight into the status of any sales order. If a customer has a request referring to a sales order, they can answer it within seconds, independent from its input channel or process status. Reporting and transparency have exponentially improved. Management is now able to track the performance of the sales order process across countries, from month to month or year over year. Now, even the performance tracking task is a simple activity, too. It is fast and it is accurate. Not only for the electronic input channel, but for all sales orders. The information extracted is also proof that with the new integrated sales order automation, customers have been able to cut sales order cycle time in half by also automating the remaining 20-40% of sales orders. Customer relationships have also improved because disputes over orders and invoices or wrong deliveries have reached an all-time low. The analysis of sales orders allows making purchasing recommendations to customers from evaluating other customer orders – those who regularly order specific products in combination with other products. These cross-sell opportunities are well-received by customers as they create value and often help to meet their core business needs. Have you identified a need to further digitize your sales order entry process? Take a look at how OpenText™ Business Center for SAP Solutions helps to improve the sales order process and much more.

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How Digital Transformation is Giving Humans More Time to Really Think

The pace of technological change today is being called the “fourth industrial revolution.” New solutions powered by artificial intelligence (AI), robotics, and machine learning are enabling machines to handle processes that once required human decision-making. Just as mechanical muscle lowered the demand for physical labor in the first industrial revolution, today cutting-edge technology is reducing the demand for human intervention. The “migration” of tasks from humans to software and machines has been evident for quite some time. From ATMs to automated check-in at airports, technology has been performing relatively simple and repetitive tasks. Today, this transformation allows much more complex and nuanced tasks to move from human speed to machine speed, across industries that have remained largely untouched by machine intervention. Most recently, AI and cognitive systems have found a place in legal discovery, insurance applications, underwriting and claims processing, and the delivery of financial investment advice. In healthcare, telemedicine allows diagnosis and monitoring without the need to physically see a clinician, and a surgeon can operate from another hospital or country—just more examples of where jobs long understood as “human” are being displaced by technology. The automation option New opportunities for automation will continue to appear, as mechanization, automation, AI, and robotics replace human workers. But it’s not all doom and gloom. As “traditional” roles are replaced, new jobs will be created in the transition—jobs that require creativity, innovation, and strategic thought. As we do away with mundane work, the time gained through automation can be used to innovate, germinate ideas, and conceive new processes fueled by the kind of thinking that only happens when our minds have time to wander. The beginning of a sweeping societal change? The World Economic Forum, economists, analysts, and labor organizations have predicted a wave of job losses due to the surge in AI, robotics, and other technologies. We could see a net loss of 7.1 million jobs over the next five years in the 15 leading countries that make up approximately 65 percent of the world’s total workforce. But two million of the jobs will be offset by the creation of new positions that will support and foster the new wave of innovation, beyond what we see as credible or possible today. But as some roles are automated, others will come online; for instance, individuals who can build, develop and make sense of these sweeping changes. Developers, programmers, scientists, and technologists will—more than ever—be required to drive forward the accelerating pace of change. There will also be a greater need for economists, lawyers, and policy makers who can interpret how governance, intellectual property, and society at large will have to adapt. While algorithms may automate decision-making, it won’t be easy to replace leaders who can navigate this new fast-paced, intense change. At the end of the day, you may wonder if a machine could do your job. And the answer is that it could probably do some of it. And that’s okay, because automation will free us up to do more of the thinking required to come up with what’s next, perhaps with the help of a new robot friend or two.

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How Your Mindset Is Holding You Back…..(And What To Do About It)

Innovation Tour Stockholm

In this blog we welcome guest blogger Fredrik Härén who will be speaking at the Innovation Tour Stockholm in March. Fredrik is an author and keynote speaker on business creativity, change and global business. In our business lives, we’re used to regularly upgrading our IT systems. But when was the last time you upgraded your mindset? I’m guessing your answer is ‘rarely’ or ‘never’. You’re not alone. I spend a lot of time travelling the world delivering keynotes to all sorts of different audiences, and our mindset – as well as our language – is holding most of us back. We’ve grown accustomed to new, disruptive technology, creating new markets and giving us new services and options in ways we’ve never considered or imagined. And that disruption has happened because someone chose to look at a solution or outcome differently. They changed their mindset. I’m not suggesting we all need to become serial entrepreneurs, but our static, fixed mindset and the language we use to refer to the world around us is limiting our potential with new technology and tools. Take the internet for example. Years ago, everyone referred to ‘web pages’ because that’s how we thought of its structure. (Remember WAP?). Today, we just see it as content, which the likes of Netflix, and a host of other companies are monetizing. Likewise, the rise and fall of early mobile phone companies had as much to do with their mindset as it did with their market share. Eriksson and Nokia looked at the mobile phone and thought, ‘how much computing power can we put in a phone’? It was the wrong question. Apple said, ‘how much of a phone can we put into a mini computer?’. The same thing is going on today. Drones would never have gained traction so rapidly if we had referred to them as ‘micro helicopters’ because that kind of language and vocabulary automatically limits the way we think of their potential. By calling them drones (with no pre-existing frame of reference), we haven’t put them into a pigeon-hole. My point in telling you this is to make you aware that you’re doing it. Just having simple awareness of the way we are thinking, the language we are using and the frame of reference we are imposing, can change things. It can help us look at the problems and desired outcomes around us with fresh eyes. There’s so much more I’d like to tell you that I can’t cover in a single blog, but it is something I’ll be covering in greater depth at the upcoming OpenText Innovation Tour in Stockholm on 29 March. If you’re interested in learning how to take the blinders off and apply new ways of thinking to your own work and personal life, I’d love to see you there. You can register here. Fredrik Härén has delivered more than 2,000 presentations in over 60 countries on six continents. He was voted Speaker of The Year in Sweden and selected as one of the “Sweden’s Top Ten Best Speakers Ever”. Fredrik is a Certified Speaking Professional (one of 700 globally) as well as GSP Global (one of only 30 globally). He is the author of nine books, including “The Idea Book”, which was included in “The 100 Best Business Books of All Time”. His latest book, “One World. One Company” discusses what it means to be a truly global organisation. 

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6 Considerations for Charting Your Digital Course

Today’s digital disruptors make headlines across the sectors with sweeping changes in data management, analytics, and customer experience. A wave of change is rolling in as organizations automate the way customers buy, the way suppliers fulfill orders, the way manufacturing happens, and more. As customers and business professionals, we are witnessing how digital transformation is restructuring the face of business and, ultimately, our world. Jumping the information hurdle An initial challenge for large organizations moving towards a digital future is getting a handle on the terabytes of information and content generated by employees and systems each week, along with the information collected from websites and contact centers. These volumes add up to far more data than any human could read, process, and fully understand. And, on its own, this information is of no use; we have to be able to use it to generate value, improve service, and increase customer satisfaction. Without a doubt, information holds intelligence and your ability to get to that insight is what helps you to compete. To that end, here are six thoughts on charting a digital course for your business: Increase your competitive preparedness. Digital transformation can help your business quickly adapt to shifting customer demands, making it possible to compete with old and new rivals. Use a digital approach for a big win. The ability to go digital can level the playing field for some businesses, allowing them to have a huge impact on established markets, companies, and brands. What you may not have been able to do manually, or at scale, you can launch into with a digital approach. Gain an advantage with analytics. Sticking with out-dated methods of managing and analyzing data, keeping processes manual, and only operating at human speed puts your business at risk of being outperformed by competitors. You can regain your advantage by implementing intelligent systems to detect and analyze predictive trends. Unlock the value of information you already have. By using data and information analytics with content and process management technologies, you can uncover valuable ‘digital breadcrumbs.’ This insight can help your business to make intelligent changes to create products that better suit customer requirements, improve organizational efficiencies, and implement self-regulating business processes that save time and money. Use automation as a differentiator. Automating tasks that previously required human intelligence can now take place using digital processes. Consider the way Tesla Motors releases over-the-air updates to improve the functionality of their electric cars, just as if you were downloading mobile phone software. Not only are owners spared a trip to the garage, but Tesla cuts the expense of scheduling and managing customer visits. Create a digital culture in your organization. Don’t go digital for digital’s sake. Adopt a well-planned strategy to understand where digital can deliver the best benefits for your business, and start there. Let this go hand-in-hand with fostering a cultural change in your organization that acknowledges how employees may view the impact of a digital-first approach on their own roles. To explore how to move forward with your digital transformation, take a look at how OpenText Release 16 enables companies to manage the flow of information in the digital enterprise from engagement to insight.

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Drawing Conclusions – A Visual Picture of Our Increasingly Digitized World

Innovation Tour

In this blog we welcome guest blogger Jasmin Deniz Karatas who will be attending Innovation Tour London in March. Jasmin is a Consultant, Digital Interactive for Accenture. As human beings we all interact with the world slightly differently. Some of us understand and digest information best when we hear it. Others remember things better by sight, with pictures and graphics. And some of us are “hands-on” learners who prefer to touch, move, build, or draw what we learn, and perhaps even involve some type of physical activity alongside it. Most of us have an intuitive preference for one of these styles over another, depending on how we’re wired. Regardless of your ‘style’ of absorbing new information, one thing we all have in common is that digitized data now surrounds all of us, and digitized environments are helping to make us smarter and harness our human potential. It’s something my Accenture Interactive colleagues will be outlining at the OpenText Innovation Tour London on 21 March using highlights from the latest Fjords Trends 2017 report, Mixed Reality and Humanizing Artificial Intelligence, which examines the most significant emergent digital trends expected to disrupt organizations and society in the year ahead. For my part, I’ll be painting you a visual picture of what’s being discussed on stage, in parallel with the presentation, as well as the topics and issues raised from audience members in the form of questions. As a Consultant within Accenture’s Digital Interactive, I specialise in a human-centred design approach with a focus on gamification and design thinking. I take what I hear and paint it on a canvas. People often tell me it makes them ‘hear with their eyes’. From my perspective, it’s an exciting thing to do. I tend to go into my own world and visually represent whatever it is that I’m hearing. Once I’ve started, I continue to add to the canvas long after the presentation has ended. Many people often sit in on a session, watch what I do, and then come back a few hours later to see how it’s progressed. In the same way that all of you will be looking at your information strategies more closely over the coming year, I’ll be painting you a visual canvas of the critical new technologies, design considerations and disruptive trends that will shape both your thinking and interaction.Depending on your individual style of engaging with new information, it might help you to better digest what’s being said, or visualise what it would mean for your own organization. My hope is that it will make you think about what this means for your own actionable insights in a rapidly evolving digitized world. I look forward to seeing you at the event.

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Avoiding Digital Culture Shock: Why Financial Services Must Embed A Digital Culture

Financial Services

In this blog we welcome guest blogger Lindley Gooden, Managing Director of Greenscreen and a former television and radio journalist. Join him as he chairs a financial services live debate on embedding a digital culture at the Innovation Tour in March. As a former journalist for the BBC, ITV and Sky, as well as more than a decade spent working with companies worldwide, I’ve had the privilege of spending more twenty-five years helping people to tell the world, as clearly as possible, what’s on their minds. It’s involved meeting some 40,000 people – many of them consumers, technology vendors, business leaders – not least in the banking and financial services. You hear a lot of honest, practical and blunt points of view along the way. Indeed, listening to all sides of the conversation is rarely dull and always full of insights – particularly now, on the topic of digital transformation in financial services. As consumers, most of us have taken to it like a duck to water. We are not only empowered, but inevitably, impatient. High expectations, and low loyalty challenge every business sector – especially if we think we’re getting sub-standard service. But from an organisational perspective, it’s clear that many are struggling to tear down silos internally, while scrambling to put a convenient, connected and customer-focused front end onto legacy back office systems. Multichannel to omnichannel, to personalised to artificial intelligence (AI), all in less than ten years. So, as, technology vendors continue to demonstrate the benefits of an end-to-end digital process across the whole business, we’re now turning to the teams who turn that insight into practical value. Hearing so many accounts from the top makes it clear that it’s crucial to talk about the culture, sharing information and insights, and collaboration. Investment in technology offers powerful real-time decision-making, but digital transformation now needs to be part of the culture, not just part of the infrastructure. In our personal lives as consumers, we’ve already made the leap. But supporting innovative digitisation efforts at work is a new frontier that is now seen by more nimble operators in financial services as being equally important. Those organisations able to get employee buy-in to their digital vision, boost digital capabilities, and create a truly customer-centric culture have a noticeable competitive advantage. It’s something I’ll be discussing in depth at the upcoming OpenText Innovation Tour London on 21 March. I’ll be chairing a financial services live debate on embedding a digital culture with some of the industry’s foremost experts on the subject. With so much investment in understanding the technology, and gathering data and insights, it’s clear that the real digital training around culture is only just starting to kick in.  Getting this right will set the bar for how well your digital strategy will be executed and ultimately received. Getting it wrong (or failing to recognise the requirement in the first place) could be costly, and result in what Accenture calls “digital culture shock.”  That’s because transforming your business is one thing, but you must take your employees (and the right partners) with you. Obviously a challenge, but there are great examples across the sector that have produced stunning results. So this year, we want to explore real world examples, successes, practical advice, and results during the upcoming debate. If any of these issues sound familiar to you, I’d urge you to attend. It’s going to be an opportunity to hear – and contribute – at the highest level. Creating a workforce that’s digitally fit and focused on the customer’s omni-channel expectations in this brave new digital landscape is an extraordinary opportunity for growth, commercial gain and innovation from within. Join us in London. I look forward to seeing you there.

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Unlock Unstructured Data and Maximize Success in Your Supply Chain

By any standard, a successful business is one that can find new customers, discover new markets, and pursue new revenue streams. But today, succeeding via digital channels, delivering an excellent customer experience, and embracing the digital transformation is the true benchmark. Going digital can increase your agility, and with analytics you can get the level of insight you need to make better decisions. Advances in analytics and content management software are giving companies more power to cross-examine unstructured content, rather than leaving them to rely on intuition and gut instinct. Now, you can quickly identify patterns and offer a new level of visibility into business operations. Look inside your organization to find the value locked within the information you have today. The unstructured data being generated every day inside and outside your business holds targeted, specific intelligence that is unique to your organization and can be used to find the keys to current and future business drivers. Unstructured data like emails, voicemails, written documents, presentations, social media feeds, surveys, legal depositions, web pages, videos, and more offer a rich mine of information that can inform how you do business. Unstructured content, on its own, or paired with structured data, can be put to work to refine your strategy. Predictive and prescriptive analytics offer unprecedented benefits in the digital world. Consider, for instance, the data collected from a bank’s web chat service. Customer service managers cannot read through millions of lines of free text, but ignoring this wealth of information is not an option either. Sophisticated data analytics allow banks to spot and understand trends, like common product complaints or frequently asked questions. They can see what customers are requesting to identify new product categories or business opportunities. Every exchange, every interaction, and all of your content holds opportunity that you can maximize. Making the most of relevant information is a core principle of modern enterprise information management. This includes analyzing unstructured information that is outside the organization, or passed between the company and trading partners across a supply chain or business network. As more companies use business networks, there is an increase in the types and amounts of information flowing across them; things like orders, invoices, delivery information, partner performance metrics, and more. Imagine the value of understanding the detail behind all that data? Imagine the insight it can provide to future planning? And even better: if you could analyze it fast enough to make a difference in what you do today. Here are two common, yet challenging, scenarios and their solutions. Solving challenges in your enterprise Challenges within the business network – A business network was falling behind in serving its customers. They needed to increase speed and efficiency within their supply chain to provide customers with deeper business process support and rich analytics across their entire trading partner ecosystem. With data analytics, the company learned more from their unstructured data—emails and documents—and was able to gain clearer insights into transactions flowing across the network. The new system allows them to identify issues and exceptions earlier, take corrective action, and avoid problems before they occur. Loss of enterprise visibility – A retail organization was having difficulty supporting automatic machine-to-machine data feeds coming from a large number of connected devices within their business network. With the addition of data analytics across unstructured data sources, they gained extensive visibility into the information flowing across their supply chain. Implementing advanced data analytics allowed them to analyze information coming from all connected devices, which afforded a much deeper view into data trends. This intelligence allowed the retailer to streamline their supply chain processes even further. Want to learn more? Explore how you can move forward with your digital transformation; take a look at how OpenText Release 16 enables companies to manage the flow of information in the digital enterprise, from engagement to insight.

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GenX or Millennials: Which Generation Truly Leads the Digital Transformation?

Even though we know millennials are connected non-stop to their smartphones, laptops, and social media accounts, it’s Generation X that makes up the main influencers, architects, and drivers of digital transformation in the enterprise. With all the focus on Millennials, it’s actually Generation X—those born between the ‘60s and early ‘80s—that paved the way for their younger colleagues to reap the longer-term rewards of digital business. Here’s how we know. OpenText recently commissioned a study by Forrester Consulting that reveals how businesses can make the most of their digital transformation efforts by tapping certain generational groups for leadership positions. Creating a one-size-fits-all management culture no longer suits today’s workforce, given its diversity. Gen-X Has Greater Clarity on What Drives Transformation To learn how different generations affect digital transformation, Forrester surveyed 240 Baby Boomers, Gen-Xers, and Millennials. Here are some of those findings: When asked about key drivers behind digital transformation, Baby Boomers were most likely to name growing revenue as a motivator, while Gen-Xers put greater emphasis on how digital change can improve the way business itself works. Regarding what drives change, 51% of Gen-Xers said improving time to market is a change driver, compared to 42% of Baby Boomers and just 30% of Millennials. Gen-Xers were also far more likely to believe transformation is driven by a desire to improve innovation and bring new offerings to market at 47%, compared to 32% for Baby Boomers and 37% for Millennials. Regarding the belief that transformation is driven by the need to create a seamless, harmonized customer experience across channels, 49% of Gen-Xers felt this is true, compared to 32% for Baby Boomers and 34% for Millennials. The Takeaway Understanding the workforce can help drive your company’s vision. By moving Gen-Xers with “digital savvy” into more senior leadership positions, while making sure Millennials are involved in decisions affecting the future, enterprises can foster transformational success. But, overall, having a better understanding of different groups’ unique strengths is the first step. It can help boost the chances of a smooth digital transformation to compete today and in the future. And while every part of an organization needs to take part for a digital transformation program to succeed, armed with this research, you can leverage your resources for the biggest impact and position your own business for success. To explore how to move forward with your digital transformation, take a look at how OpenText Release 16 enables companies to manage the flow of information in the digital enterprise, from engagement to insight.

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Brace Yourself: Change, Pain & Opportunities

financial services live debate

In this blog we welcome guest blogger Laurence Leyden, General Manager for Financial Services in EMEA at SAP. “The last thing I want to do is hurt you, but it’s still on the list.” If the banking industry had its own memes for the state of the market, this would be one of them. There’s so much change coming. Some of it will be painful. Some of it will create new winners and losers. All of it will result in a seismic shift in business models. Cash is disappearing, revenue models are shifting, mobile is everywhere (including your wallet), brand advocacy has replaced marketing strategy, multi-channel friction is alienating impatient, cynical customers, de-banked consumers are on the rise, crowdfunding has reached 8 billion, and Google now has a banking license. We shouldn’t be surprised. Just about every other industry has been transformed through tech innovation and machine intelligence – from medical science to self-driving cars to the music industry – yet most banks continue to operate with 1960s style production lines. It’s opened a gap that’s getting wider as new competitors step in, and render banks irrelevant, targeting one service at a time.  We’re already seeing the first casualties – branches (viewed by some as a nuisance in the digital age), disruptive, cheaper payment services, and innovative third party funding options. These issues, and more, will be discussed at the Financial Services Live Debate session at the OpenText Innovation Tour London on 21 March. You can register to attend here. Of course, technology does have a huge role to play, and banks have an opportunity to redefine and reinvent themselves, but first you must realise that we are witnessing the end of an era in banking as we know it. No one is really sure of the timescale. The death of banks has been predicted for some time, but typically things take three times longer to disappear than most people think. That means in the next ten to fifteen years, your bank will be vastly different. Do you know what ‘different’ looks like for you and how you’re going to get there? Start with the obvious. No bank can expect to survive the next few years without ridding itself of manual processes and back office inefficiencies. And speaking of inefficiencies, why would you continue to run old style production methods by writing code, when you should be assembling it? And why wouldn’t you have 100 per cent real time online systems that engage with customers, rather than putting a human teller behind a pane of glass telling customers what they can and can’t do? One of the best examples of true innovation I’ve seen is from the insurance industry. Discovery of South Africa recently announced a collaboration with Apple to create its Vitality Active Rewards program, giving consumers a new Apple Watch for joining. If all weekly fitness targets are met over 24 months, then the watch is free. Members also enjoy other rewards when they hit their fitness targets, ranging from a free drink, free domestic flights, to a waiver of monthly fees for gym memberships. Should the member miss some or all of the targets in any month, then depending on the number of targets missed they pay a monthly penalty of the cost of the watch. It’s a clever move. Discovery can also see which members are most active – and presumably lower health risk – as well as gather all sorts of insights into consumer behaviours. My point is that there are opportunities everywhere in data. The sands may be shifting underneath your feet and new market entrants may be using agility against you, but you can fight back. Find areas of value by engraining yourself in the customer value chain of requirements and provide consumers with a simple, cohesive digital experience. Traditional methods simply won’t cut it. The level of disruption, behavioral shifts and changes are unparalleled. The digital age has forced financial institutions to rethink how the entire customer experience works. It’s time to reimagine and rebuild your bank into a modern, tech savvy useful alternative to the stale, status quo experiences that exist today. Just about every other industry has been through this transformation. You may not like it, and may not want it, but if history proves anything, you don’t have much of a choice. I’ll be discussing these issues as a guest panellist at the Financial Services Live Debate session at the OpenText™ Innovation Tour London on 21 March. Laurence Leyden, General Manager for Financial Services in EMEA at SAP. Laurence is responsible for all elements of Banking, Insurance and Capital Markets. A veteran of 15 years at SAP he previously headed the global transformation team, ran the global pre-sales organisation, and lead the EMEA Value Engineering and Core Banking teams. Laurence specialises in understanding real customer needs and how SAP and partners help drive transformation across organisations. Increasingly this involves reviewing business models and aligning to the benefits that true digitisation enables. He is heavily engaged in looking at the changes facing banks and promoting the role of innovation and looking at how SAP views ‘the bank of the future’. He is regularly quoted in the financial press and speaks on behalf of SAP at various industry summits and events as well as with the analyst community.

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The Best Way To Enable Your Digital World

Innovation Tour London

The Innovation Tour, London, Returns In March For Another Successful Year As data continues to reinvent our economy, just about every organisation in every sector must transform to a Digital Enterprise if they are to remain competitive and relevant. My favourite conversations involve hearing how our customers are succeeding in navigating this digital change. While digitisation is having disruptive effects on people, companies and markets globally, it’s also full of opportunities; particularly here in the UK. I am always impressed at the level of innovation and collaboration our customers achieve; particularly the new ways they are benefitting from greater agility, better insights and the transformative effects of responding at digital speeds. That’s why I am looking forward to one of the highlights of our calendar year at the annual 2017 Digital Innovation Tour, London on 21 March. More than 350 people will be attending this year’s flagship event and I will be aiming to speak to as many of them as I can and I would encourage you to attend and do the same. If you attended last year, you will know the value that bringing so much collective insight, experience and expertise together for one just day delivers for the rest of the year and beyond. Our customers tell us that it’s the quality of the networking and face-to-face conversations that spark new ideas, facilitate first-hand insights on pertinent trends and deliver fresh thinking around common information management issues, that sets it apart from other industry events. It’s a reputation we’re rightly proud of and are committed to continue. It’s also a great opportunity to hear from some of the industry’s leading experts who know how to drive benefits for your business, as well as learn about all of the exciting new innovation from OpenText as we continue to deliver against our product roadmap and vision. Along with an agenda packed full of real life case studies, we will also be hosting solution-specific breakout sessions and demonstrations. Customers tell us how beneficial they find these, as they can see first-hand how others have transformed their Enterprise Information Systems (EIM) to truly become Digital Enterprises and ask practical questions about how they’ve addressed specific scenarios. It’s our intention to make the 2017 Innovation Tour even more valuable and engaging than last year’s event. That’s why we’ve decided to hold this year’s conference at County Hall in Westminster to accommodate the growing demand. Whether you have attended in previous years or are new to the Innovation Tour, we are looking forward to helping you deliver the best digital experiences for your company, your wider ecosystem partners, and of course your own customers. Our objective is to ensure your business is empowered to explore the boundless opportunities that EIM delivers, which makes an ideal format for our conference. I look forward to meeting you there.

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Lower the Drawbridge and let the Data Flow

customer experience

It’s not often that Game of Thrones provides a moment of insight into data exchange, but that’s what happened this week. I am just catching up with season six of the top rated HBO series; and when the “Kingslayer” Jamie Lannister walked back across a drawbridge, having failed to persuade the leader of the forces under siege in the castle to surrender, it made me think about permeable data. In my last blog post I presented the idea that rather than trying to break down and remove the invisible walls that keep core customer data siloed and isolated in different parts and layers of the organization, we should let each group keep the keys to their (data) kingdoms, and benevolently grant access to the data to other groups and departments. In the world of Game of Thrones, with its ever shifting alliances and loyalties, the one thing that remains constant is the need for information. That information is often delivered via messenger ravens, and occasionally through personal contact as the various characters meet and interact. On the face of it, Jamie Lannister’s interaction on the drawbridge may have been seen as a failure. Yet, the more I thought about it, the lowering of the drawbridge allowed some significant “permeable data” to flow between the two systems in play. Each commander shared a little about their intentions and reacted to information that the other one shared. While Lannister may not have persuaded the besieged commander to surrender, he walked away with enough information to develop a way to later end the siege with relatively minimal casualties. And the commander of the castle knew more about his opponent, his strengths, and his thinking – even if he chose not to act on that information. Once that drawbridge came down, it was inevitable that data would be exchanged. We need to lower our system drawbridges. By making the data silo walls permeable, allowing the data to flow freely to and from the different repositories, a company can make the most out of its investment in the technology being used to garner that information, and keep the kingdom’s (data) monarchs happy at the same time. Data bridges allow the flow of information. Once enabled, the company can collect a piece of data once and share between systems, in a way that respects system ownership and allows each repository to use the data in the best possible way to fulfill its own line of business needs and tasks. OpenText™ Experience Suite builds on this concept. It lets data flow between the various products in the Customer Experience Management portfolio, so vital information and assets can be connected from Digital Asset Management tools through to the Web Content Management and Optimization tools and on to Customer Communications and even the Call Center, where data around sentiment analysis can be fed back to the Web Content design team. Each product can stand alone and address the needs of a particular line of business, or be an Enterprise content single source of truth. Yet by passing data between them, with other OpenText tools, or existing enterprise business systems etc., they can be the foundation of a fully connected continuous customer experience.

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Customer Experience, Digital Transformation, and Commitment to the Success of our Partners

ECD partners

This is the time of year when we try to pause from our busy schedules and take some time for friends and family. As the calendar year winds down, we would also like to take a moment to say thank you to our customers and partners. For the ECD partner organization, our primary customers are you, our partners, and we recognize that we can’t be successful without you. So thank you for everything you do. In 2016 we made your experience with ECD a top priority. We focused on the partner experience as we also invested significantly in two related areas: customer experience (CX) and digital transformation (DX). In fact, these goals are all interrelated.  “Being customer-centric and maintaining a continual focus on improving the customer experience is a necessity for any organization looking to move forward as a digital enterprise.” We believe that to become a digital enterprise, you must not only focus on the customer experience, you must become obsessive about customers. Here’s what we wrote in our digital transformation eBook: “Digital enterprises make the customer relationship priority #1. They center the business around customer needs and customer experiences. They leverage technology to enable collaboration in cross-functional, cross-organizational teams, always in the service of the customer relationship.” Erik Raper, who heads Marketing and Advisory Services for Paragon Solutions (which was named the ECD “DX Partner of the Year”) shared similar thoughts in a blog post he published on digital transformation: “It’s crucial for enterprise leadership to be the champions of digital change, recognizing digital transformation is not a one-time project but, rather, a long-term initiative to positioning the enterprise for greater operational efficiency, customer engagement, and strong market growth.” We couldn’t agree more. Our investment in digital transformation – from our updated digital marketing platform to LEAP, our new cloud-based product platform – is creating new opportunities for us to collaborate digitally with our partners. Together we can help customers embrace digital and transform the way they do business. Your feedback, input, and passion around the software and solutions we create is tremendous. We appreciate your trust in us. We take that commitment seriously. And we look forward to our next chapter and to continuing this journey together. Happy holidays to all of our partners. Thank you for a great year, and here’s to continued success in 2017!

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Mastering Partner Marketing: The Do’s, Don’ts and The Reasons Why

partner marketing

Some things in life just naturally go together – fish and chips, tea and cake, sausage and mash. But it’s not just foods that combine well. Any good marketer will tell you about the benefits of joint marketing with partners – particularly if you align with a large complementary brand. Whilst the logic of working together may be a no brainer, it’s often the execution where things go awry. Take Financial Services for example. There’s certainly no shortage of opportunities for education, engagement and conversion as digital transformation continues to disrupt markets and business models, but creating a targeted, well executed partner marketing proposition is easier said than done for some companies. That’s why I decided to write this blog and share some of the do’s and don’ts when it comes to mastering the partner marketing model. The Don’ts of Partner Marketing Activities Don’t Assume It’s An Equal Relationship – Once you’ve found a symbiotic reason to partner with another organisation, don’t assume your counterpart shares your view of how the relationship is defined. Marketers often assume partner companies will want a 50/50 marketing relationship. The cost of co-branding with certain organisations may involve doing things their way, not yours. That’s not necessarily a bad thing, but don’t say yes to things if it pushes you further away from your objectives. Don’t Get Eclipsed – Don’t assume you can rely on the strength of just one brand to push your partnership. The smaller brand needs a very clear value proposition or it risks being eclipsed. Show why your respective offerings are of strength, both collectively and individually in their own right. Don’t Try It Without A Compelling Proposition – I’ve seen companies spend a lot of time and money on joint marketing campaigns for all the wrong reasons. If you’re not solving a common problem or addressing a related business pain, don’t bother. Competing for attention and then fragmenting it, is not a good approach. The Do’s of Partner Marketing Activities Do Have A Clear Understanding of Your Target Audience – And by clear understanding, I mean down to the name, job title, division and specific company where possible. Your partner may have an existing relationship in a target account that you can leverage so do your homework. Pick Your Channels – If you know your target audience, chances are you know their preferred channels. In Financial Services, for example, a consultative-based, informative face-to-face networking event aimed at specific individuals will generate greater interest than a standalone email campaign. Deliver An Integrated Experience – Make sure each element of your partner marketing campaign is integrated to drive traffic to your digital assets. That could be a dedicated, co-branded landing page, online registration, or joint solution. Make sure you connect the dots. A Good Example By way of an example, we recently partnered with SAP on a joint Financial Services marketing campaign, choosing a topic (common business pain) that’s affecting almost every financial services organisation: A digital ready workforce. Next we delivered a live debate for insight and networking (the preferred channel of our targets) – “Re-wiring Financial Services: Embedding A Digital Culture” . The debate comprised peer level, consultative speakers from banks, and digital disruptors, as well as our own respective industry experts. And of course, the event was broadcast for remote live viewing, as well as recorded for later viewing as a webinar – with these digital assets in mind from the outset. Because we focused on our joint target accounts with a compelling proposition, and used the expertise and relationships of both SAP and OpenText, we attracted 222 target prospects to attend and engaged them for 40 minutes. No mean feat for the type of people we targeted. The purpose of this blog post isn’t to try to impress you, but rather to impress upon you the benefits – and potential profitable rewards – of following a few simple, yet often overlooked, rules for successful partner marketing. You can view the webinar and other assets I mentioned here on the campaign microsite.

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Innovation Tour: Sydney

Innovation Tour

On Monday, the OpenText Innovation Tour kicked off in Sydney, Australia with an on-stage presentation from CEO and CTO Mark Barrenechea. In addition to a look at new and upcoming product innovations, Mark provided an overview of recent OpenText acquisitions and OpenText’s position as the leading provider of Enterprise Information Management (EIM) technologies and services. OpenText EIM enables the flow of information from Engagement to Insight, allowing customers to extract value from information throughout the flow. Our newest project, Magellan, will use open standards, open algorithms and machine learning to enable customers to make sense of massive pools of data and harness the power of their information. Building on Mark’s presentation, OpenText CMO Adam Howatson (always one of my favorite presenters) provided an update on OpenText™ Suite 16 EP1 and an overview of our plans for EP2, due in mid-2017. Unstructured data continues to increase at a phenomenal pace and these Enhancement Packs are designed so OpenText can respond quickly to customer recommendations. For example, EP1 extends ECM to SalesForce and SuccessFactors, enabling our customers to successfully manage and gain insight from their CRM and Human Resources systems. We’re not the only people listening to customers. Special guest Michael Barnes of Forrester later took the stage to provide insight into what he calls the “Customer-obsessed operating model”. It is imperative that we look at the experience we create for customers from their point of view, and understand how every interaction affects that experience. In the age of the customer, it is important that we take what we learn from our customers’ journey and translate that insight into an improved experience. Using our EIM technology, we can coordinate and technically optimize the experience to better serve, delight and engage customers. What I enjoy most about the Innovation Tour is how it brings together OpenText customers, partners and staff from many geographies and allows us to discuss opportunities and solutions. In Sydney, we are speaking with customers from all across Australia, and New Zealand, a distance of almost 5,300 km. Tracy Parsons of the New Zealand Transport Agency (NZTA) joined OpenText President Steve Murphy on stage to discuss the NZTA’s EIM implementation. Steve and Tracy discussed how the NZTA are using a cloud-based EIM implementation that includes both Content and Process Suites to digitalize business process, provide access to mobile workers and offer regulatory compliance. I’ve heard plenty of interesting success stories from customers during the event. The Sydney Innovation Tour is the first of eight stops, with Singapore on December 1st, followed by Tokyo on December 8th. I look forward to meeting as many of you as possible at the events. Please email me with any feedback or questions.

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User Adoption: Avoiding Public Sector Digital Transformation Pitfalls

Digital transformation

Amidst the media noise around digital transformation for the cloud-based, ‘Digital-First’ world, it’s easy to overlook a simple, yet critical component: will your colleagues actually use it? User adoption is one of the biggest concerns when it comes to investing in new technology in the public sector. It’s human nature not to like change, so unless it’s easier than whatever people were doing before, most won’t use it – no matter how many bells and whistles it has. Easy beats cool. Every time. Of course, that’s not to say simple to use systems can’t be sophisticated. But when it comes to dealing with millions of pieces of unstructured content, the fundamental principal of usability can often get lost in the size, complexity and context of the problem. One of the best examples in successfully tackling this issue is the approach the Royal Free London NHS Foundation Trust took, with OpenText’s help, to store, manage and digitise their patient medical care records. Rather than just looking at how to solve the problem of 900,000 unstructured clinical records, they took a more holistic approach around information management. They knew clinicians need to refer to previous medical histories, so before their system even went live, Royal Free back scanned huge volumes of data in the OpenText solution, making everything accessible, and easy to find in a user-friendly system that was designed to behave the way the staff would naturally work from day one. This not only gave their medical staff the content they needed, but also delivered it to them in the context of the patient’s medical history. Compare this to the old method of having to manually flip through paper records that were physically pushed around the hospital on 100 trolleys, and it’s easy to see why user adoption was so high. You can read more about how the Royal Free is driving value from its data, reducing costs, and simplifying its patient record access here. In all the work we’ve done with the public sector over the past twenty years, I’m always amazed when I see vendors lose sight of the user’s perspective. It’s one of the reasons we deliberately hire former practitioners directly from the public sector, as they’ve worked at the coal face on both sides of the fence. They understand the importance of making things easier than they were before, and the need of putting content into the context of how will be used. As MIT professor and serial entrepreneur, Alan Kay, once said, “Context is worth 80 IQ points”. It’s a subtle yet often overlooked aspect when it comes to digitising content and putting data in the cloud. And speaking of the cloud, we’re pleased to announce that we’ve now put our first offering on G-Cloud – OpenText™ Core – which makes sharing the right information with the right people easy and instinctive. You can find us on the Digital Marketplace here. If you’d like to know more about the latest developments in our public sector offerings in Health Care, you can read more.

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Removing the Data Barriers to get the Bigger Picture

Data barriers

Doing something over and over again and expecting a different result is EITHER practice, or insanity.  The difference is simply in how long you’re willing to wait until things start to change. Similarly, treating all customers the same and simply doing the same things over again in new channels, is equally unproductive. To successfully meet the experience expectations of today’s customer demands removing data barriers and agility in how companies leverage their customers’ data in order to deliver individualized experiences in preferred channels. This kind of agility requires connectivity and fluidity within an organization. Customer Experience takes a village It takes a collection of divisions and departments within an organization to deliver goods, services, and the desired brand experience, to customers. Similarly, customers interact with organizations via multiple touchpoints spread across multiple departments. So why would any company think a single source of data from any one department or division could provide the multi-faceted, let alone complete, picture of the customer it needs? To develop and implement a truly omnichannel and customer-centric customer experience strategy, companies need to gather insights from multiple data points to connect those experiences together. But even that is not enough. That data, all that data, also needs to be accessible by the myriad teams that contribute to delivering the customer experience for their own analysis and interpretation. Limited by data fiefdoms We’ve all heard the rhetoric of “breaking down the silos”. Many gasp and shudder at the thought of having to share the proverbial access code to the vault that contains THEIR data. Over the span of their careers employees develop areas of knowledge expertise, and maybe even fiefdoms, around particular systems and associated data. They develop a sense of ownership. The angst of now having to share their domain is brought on by many fears; What if they (the other departments) mess up my data? What if their findings contradict my own? What if …? What if …? What if …? This individual apprehension is compounded by the larger picture of company priorities and culture. Companies invest large amounts of money in existing systems, and with those systems adoption come established, good or bad, procedures and policies. Once these become intrinsic to the way a company does business they are difficult to adjust. Nobody likes change, and it isn’t realistic to expect these things to change, or as some cases may deem, disappear, overnight. But who says they have to? Permeable data silos Rather than trying to break down and remove the invisible walls that keep core customer data siloed and isolated in different parts and layers of the organization, let each group keep the keys to their (data) kingdoms, and benevolently grant access to the data to other groups and departments. By making the data silo walls permeable, allowing the data to flow freely to, and from, the different repositories, the company can make the most out of its investment in the technology being used to garner that information, and keep the kingdom’s (data) monarchs happy at the same time. By building these data bridges the flow of information from one system to the other is enabled, and subsequently encouraged. And instead of collecting the same data over and over again – a better experience for the customer already – companies can collect it once and share between systems, in a way that respects system ownership and allows each repository to use the data in the best possible way to fulfill its own line of business needs and tasks. Internal systems shouldn’t drive the Customer Experience; it should be the other way around Some might think that to solve this problem companies have to first look at the systems in place for collecting and storing the data. At some point, yes, there are likely redundant repositories that can be sunsetted once the data landscape is better understood. For a bigger, transformational impact, companies should turn to their teams and data-related activities. Understanding by whom, and how the data is used, agreeing to what it means across the organization, as well as in different teams and departments, is how the true value of data is extracted. By creating a customer-centric perspective internally around customer-related data, organizations enable the different parts of their business to consume and analyze data in a way that makes most sense for them, thus allowing them to have more insight into the customer, and therefore are better able to contribute to delivering a more customer-centric experience. Data driven companies that take a holistic view of their data, develop “data journeys” that transcend internal company borders and boundaries, and mirror their customers’ journeys, are winning the customer experience race. (This blog post was co-authored with Cathy McKnight of the Digital Clarity Group).

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OpenText Named a Leader in the Gartner Magic Quadrant for ECM Again!

enterprise content management

The more things change…” OpenText has been recognized as a leader in the Gartner™ 2016 Magic Quadrant for ECM—for the 13th year in a row. Now, being recognized as an industry leader every year for over a decade is no easy feat in the rapidly changing software sector. Trends come and go, new technology replaces existing benchmarks, business models evolve, even the attitudes and approaches of end users morph over time. Researching and developing Enterprise Content Management solutions that keep you ahead of the curve for that amount of time is a huge achievement. But that’s just part of the reason we here at OpenText are thrilled to once again be recognized by the highly respected analysts at Gartner. This year’s Gartner 2016 Magic Quadrant for ECM accolades are especially rewarding for us, given that the rigorous evaluation process centered on the ability to execute and completeness of vision found in our new OpenText™ Content Suite 16. In our opinion, OpenText is on target in offering a new generation of ECM solutions that meet the needs of digital organizations. It’s Time to Rethink ECM–and what Success with ECM means Our belief that the very concept of ECM has to change is central in this. Yesterday’s definition of ECM is no longer sufficient to meet the needs of tomorrow’s enterprise. Simply viewing an ECM platform as a one-way repository for information storage and compliance doesn’t cut it anymore. Digital enterprises, and the knowledge workers that drive them, need so much more from technology in today’s digital environment: Effortless, light-touch collaboration is now critical, and increasingly decentralized business functions have created siloes of hidden-gem data that need to be bridged for information to flow freely to those that need it. A new generation of ECM technologies must facilitate this. They have the sharing and social capabilities to be the enterprise standard for collaboration. They have the integration capabilities to act as a central information hub, using metadata to push information in the right context at the right time to those who need it to enhance productivity. They have the ability to automate governance for security and risk management. This new approach to ECM is so pivotal, we believe Gartner amended their internal definition of what comprises an effective ECM platform in today’s digital environment. As a result, the 2016 MQ had two fewer leaders compared to the previous year resulting in a decrease from six to four. So, yes, the ECM landscape is definitely changing. And OpenText is proud to be recognized as a leader in this new era of information management. Regardless of your current ECM position, analyst reports provide excellent insight into the evolving state of the industry as well as in-depth analysis of the major vendors. They’re pretty much required reading for anyone involved in ECM. Take some time to download them here, here, and here. Then, start your own journey to ECM success by exploring the OpenText™ Content Suite. This graphic was published by Gartner, Inc. as part of a larger research document and should be evaluated in the context of the entire document. This Gartner document is available to download here.

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OpenText Live Webinar Series – Upcoming Schedule

OpenText Live Webinar Series

We are fast approaching the holiday season with the New Year peeking just around the corner, but before you get swept up into the hustle and bustle of this “most wonderful time of the year,” we at OpenText™ Live invite you to check out a few webinars that we have lined up for November and December. With the latest release of OpenText™ Release 16 Enhancement Pack 1 (EP1), our Experience Suite has undergone major changes with the additions of powerful Customer Communications and Experience Management solutions such as TeamSite, Exstream, MediaBin, Qfiniti, Explore and more! These enhancements mark the revolution of customer communications in the digital world, and we want to give you an exclusive first hand look into what these solutions can offer your business. November 15: OpenText™ ECM Content Migration (11:00AM EDT) Need help migrating ECM content? OpenText partner FME demonstrates best practices in this webinar. We’ll show you: – Migration and upgrade best practice pathways to OpenText™ Content Suite 16 – Cost savings with migration-center for your content migration – A short live demo Register here November 29: Convert Correspondence into Engagements with OpenText™ Communications Center (11:00AM EDT) Learn more about OpenText Communications Center and its enhanced interactivity with other OpenText product suites including Content Suite, Process Suite, Business Network and Analytics. Turn engagement into insight. Register here December 1: What’s New in OpenText™ Digital Asset Management? (11:00AM EDT) What’s new for OpenText Digital Asset Management (DAM) and the Enhancement Pack 1 (EP1) release? If you’re using Media Management or MediaBin, you’ll want to check out this session to find out what our Product Management team has in store. Learn about the latest features and product strategy. Register here December 6: The Latest Innovations in Exstream 9.5 and Delivery Manager 3.0 (11:00AM EDT) Join us for an overview of Exstream 9.5 which was announced late September and Delivery Manager announced in October. Product experts will be showing live demonstrations. Register here December 8: Syntergy Content Sentry: The Next Generation of Data Loss Prevention (11:00AM EDT) OpenText partner Syntergy will demonstrate a new Data Loss Prevention (DLP) solution for OpenText™ Content Server. The capabilities of this powerful solution allow it to learn what constitutes normal activity for users and what alerts or triggers automated policy reactions when suspicious activity is detected. Register here  December 13: How the Contact Center is Driving the Customer Experience (11:00AM EDT) Attend this session to learn more about OpenText™ Qfiniti and how Workforce Optimization (WFO) solutions are monitoring the customer experience through call recording, coaching employees, measuring the Voice of the Customer (VoC), and leveraging powerful analytics to make every interaction the best it can be. Register here December 15: OpenText™ CEM Strategy Update for WCM Products (11:00AM EDT) We’re creating a powerful new Website Content Management platform, and we want you to learn all about it. With the release of Enhancement Pack 1 (EP1), the WCM platform welcomes OpenText™ TeamSite to the mix, rounding out an effective customer communications program that surpasses the industry standard. Register here The OpenText Live team is committed to delivering content that keeps you updated on the latest OpenText product releases, trends and demands within the digital world as well as demos that exemplify the best solutions features for your business. Communicate directly with the experts and receive the technological know-how for implementing and managing your OpenText products. All of our webinars are recorded and available to registered customers at My Support. Visit our website for more information or sign up to receive weekly invitations to our webinars.

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Life Sciences: Information is the Next Big Thing

Life sciences digital disruption

Before the digital era, the Life Sciences industry was all about the “next big thing” – the next drug, the best medical device, the new technology for procedures. While this is still the case, organizations are now also looking for the “next big thing” inside their existing information – to discover new strategic indications and uses, see patterns via analytics, and much more. But this means they must have control of, and visibility and access into, their content. By putting content into the right context, organizations can unify end-to-end processes and tap into the value of content throughout the process, resulting in better business decisions, faster time-to-market, and higher-quality products and customer service. This is the essence of digital transformation. Mike Shanler, Research VP from Gartner, says that at its most basic level, digital transformation is about getting away from “paper-based decisions”.  I believe digital transformation is also about letting technology do the heavy lifting to make digital decisions faster, easier and more impactful. Life Science organizations may need to embrace digital transformation more than any other industry, due to the complexity of their end-to-end processes, the rigorous regulatory requirements imposed on them, and frankly, because often lives are at stake. The Life Sciences industry has probably the greatest motivation – and perhaps the biggest responsibility – to ensure that they’re digitally transforming today to improve patient outcomes, while improving the bottom line. Digital transformation has a multi-faceted impact on Life Science organizations, such as: For Clinical, it helps companies bring information together to help make quicker go/no go decisions and apply analytics to clinical data to help discover new indications for existing drugs For Regulatory, it enables businesses to more quickly create, review and approve regulatory content and submit to agencies to speed up approvals, as well as provide a single view of all regulatory interactions associated with a submission For Quality, it gives organizations visibility into understanding whether a change to manufacturing (specs, methods, vendors etc.) creates a need to re-submit to agencies Ultimately, if Life Sciences organizations do not remedy these issues through digital transformation, they will be disrupted by organizations that have transformed and will beat them to market. We provide value by helping customers all along the digital transformation continuum. Whether the focus is on clinical, regulatory or quality, we can address today’s challenges with a suite of offerings that meet today’s demands and allow for expansion and scalability. This also enables organizations to realize the value achieved on a smaller scale, while laying the ground for the future. As with any major change in an industry, digital transformation will have winners and losers. Those who are willing to tackle information as “the next big thing” and address it head-on will reap the benefits. Even in highly regulated industries like Life Sciences, digital will be the path forward. So it’s critical to ask your organization, “Are we ready to transform?”.

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