Companies have been forced to adapt to rapid digital transformation as they face the fact that every organization must support its own technological advancements—regardless of its expertise. The financial services industry is no exception. In fact, it has had to evolve nearly overnight to account for rising customer expectations, the need to provide a connected ecosystem, and protecting and harnessing data. While financial institutions once hoped to return to pre-pandemic operations, it has quickly become clear that they will need to continue to prioritize digital strategy in the long term. At the end of the day, the need for a comprehensive and powerful platform to drive success in the face of unpredictable change has never been greater. ServiceNow is designed to empower financial services organizations to do exactly that and more.
ServiceNow can fundamentally redesign and improve the way your team works and adapts to change, but you’ll need to have the right foundation to get the best results. Because the platform is so transformative, it will require careful management. However, with the right implementation plan and support, you’ll not only maximize the value of your implementation but also avoid roadblocks that could derail your success. Let’s dive into a few important areas to prioritize as you create your implementation plan that will ensure long-term success with the platform and beyond.
Align Priorities with Forecasted Tools
The financial services industry is adapting to unprecedented change, causing a dramatic shift in job roles and expectations. CIOs in particular face the challenge of keeping one foot in traditional expectations and processes while considering and moving towards the future. As a result, they will need to align their business and digital strategies; however, less than 10 percent of CIOs are doing just that. If these leaders do not learn to adapt to change and remain ahead of the curve, they’ll likely be left behind by fintech and other financial institutions that are quicker to adapt their capabilities.
This is why it is so essential to look at current and forecasted trends. While technology leaders have done a great job of ensuring IT efficiency, reliability, security, and cost containment, they must also be agile and future-focused in order to succeed. So, as you start developing your digital transformation strategy and ServiceNow implementation, don’t forget to look outside of your own organization and consider major trends driving the rest of the industry. Driving success and efficiency in your company is great, but it won’t mean much if you aren’t able to compete outside of it.
Put the Customer Experience First
One of the best ways to ensure that you remain competitive in the financial services industry is to create the best customer experience possible. In fact, simply having a customer-centric mindset at your company can drive revenue by 4 to 8 percent compared to industry standards. Similarly, a whopping 96 percent of customers say customer service is important to their loyalty to a brand. Not only is your customer service important for drawing in and retaining customers, but it can even lead to sustainable growth for years to come.
In a highly-saturated ecosystem, ensuring that your customers always have an amazing experience with your organization is essential to your success; however, it’s no easy feat. The great news is that with a high-powered tool like ServiceNow, many facets of customer service can be automated and easily improved upon to drive long-term success. ServiceNow offers essential customer-centric features designed with the banking industry in mind, allowing you to effortlessly streamline your processes—both internally and externally.
The following are just a few of the capabilities that ServiceNow offers financial institutions looking to implement more customer-centric experiences:
- Process optimization
- Engagement messenger
- Workforce optimization
- Predictive intelligence
- Case management
- Advanced work assignment
- Playbooks for customer service
ServiceNow is an excellent workflow automation platform that will not only help you improve your operations but also ensure an excellent customer experience—every time.
Invest in a ServiceNow Partner
Managing your entire digital transformation is anything but easy. Often, these efforts to drive change aren’t even worth the investment. In fact, up to 84 percent of transformation efforts will fail, and 73 percent of companies are not able to provide business value from their digital transformation process. While there are a number of reasons why these efforts may fail, many organizations cannot drive long-term digital transformation because they don’t have the support they need to excel.
Investing in a ServiceNow partner can help you ensure that all of your investments are not only valuable but also provide the best outcomes possible. There are five ServiceNow partner tiers, and they’re organized to help you find the best organization for your goals and needs. When a company has a partner tier, it reflects both their commitment to the platform and their deep experience and expertise. Sometimes, investing in an experienced group of people is exactly what you need to make sure you have a foundation built for success.
Are you ready to achieve your digital transformation goals with ServiceNow? Crossfuze has the exact expertise you’re looking for! Crossfuze is a ServiceNow Elite partner, making it a top 1 percent partner for delivering long-term, consistent success globally. Whatever your goals and organization may look like, we’re prepared to help you reach them. ServiceNow wins and long-term digital transformation have never been more attainable. Reach out to us at LetsTalk@crossfuze.com to learn more.
