Experiences hold great power. In the digital economy, customers, employees, and other stakeholders have more choice and higher expectations than ever before. It’s never been more essential to create experiences — across the front, middle and back office–that secure their loyalty.
To underscore this point, Genpact has announced plans to acquire Rightpoint, a premier digital consultancy with technology at its core. The deal brings experience and process innovation together to help clients drive end-to-end digital transformation and win in the growing experience economy. Genpact’s move shows that while world-class experiences are a differentiator today, soon they’ll be the new normal. And, customer-facing teams are no longer solely responsible for delivering them.
Connected, personalized, and intelligent experiences don’t just lead to happy customers, employees, and partners, they unlock new business models and increase revenue and market share. In fact, technology giant SAP says that experience is now the organizing principal of the global economy, and solving the experience gap is a $1.6 trillion problem. Clearly, this opportunity is too big to ignore and has consequences if you do.
While customers are rarely aware of what’s happening behind the scenes, they don’t keep quiet when things go wrong. Almost every headline-grabbing report of a poor business experience is linked to a disconnect between the front, middle, and back office. Whether they realize it or not, businesses are competing in a new experience economy. To thrive, they must connect experience innovation with process innovation to transform their organizations.
“To compete in a digital-first world, drive better outcomes, and unlock new business models, businesses must be able to drive transformation throughout an organization — from experiences through to operational processes,” says Tiger Tyagarajan, president and CEO, Genpact. “In the next two years, the fusion of experience innovation and process innovation will become table stakes as organizations look to reposition themselves in the market.”
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