Latest study from HGS shows 46% of respondents are already implementing generative AI solutions to assist with customer interactions, but spending to improve employee experience is lagging
Hinduja Global Solutions (HGS) (listed in BSE & NSE), a leader in technology-led customer experience (CX), recently released new findings from its CX Buyers’ Insights Report based on a survey of U.S. CX decision makers to identify priorities for technology deployments and overall budget spend benefitting both customer and employee experience initiatives.
With advancements like generative AI and automation, the way organizations approach CX looks increasingly different in the modern business landscape. This new research highlights the CX change management challenges many companies face and the decisions required to determine where to invest the time, energy, and capital in effectively reengineering processes through technology that creates the seamless modern experience customers expect.
“HGS sought to create a compendium for CX and EX decision makers to reference when prioritizing budgets and solutions to implement,” said Andrew Kokes, EVP and global head of marketing for HGS. “In the past, we have looked only at pain points for implementation, but this year, we have turned to serving as a resource for committing funds when planning for the next 12 to 18 months.”
Betting Big on AI
When it comes to deploying CX solutions, decision makers are betting big on artificial intelligence (AI), with 58% of respondents committing to deployment of some AI tech over the next 18 months. These investments include:
- Customer-facing chatbots (37%)
- Generative AI and speech-to-text applications (30%)
- Robotic process automation (28%)
While tech has been a priority, CX decision makers who arm call center employees with solutions and accelerators can make it really count. The most common CX-related technologies already deployed include data analytics tools for contact center team leads (53%), digital support for omnichannel customer interactions (49%), and dynamic knowledge bases for agent access to learning tools (47%).
Employee Experience, Engagement Fall Behind
While 21% of organizations cite their tech investment strategy as a top priority for bringing faster resolution to customer issues, there is still a need to focus on human employees throughout the CX process.
Attraction and retention of skilled call center employees is crucial for advancing CX initiatives, with 54% of survey respondents citing attraction and retention of CX employees as a top priority. Despite this, just 18% of survey respondents listed talent investments as a top priority for budgeting, and 70% of CX decision makers surveyed said they have not invested high dollar amounts into employee morale.
“Certain suites of software accelerators are relatively easy to implement across call center and CX operations,” said Kokes. “Fast access to automated responses, customer interaction and account information, and an extensive digital knowledge base for on-the-fly learning put everything into a sort of ‘single pane of glass’ (SPoG) for CX employees, improving both CX and EX at the same time.”
Partner Agencies Create Customer-Centric Cultures
To maintain a competitive edge in customer care innovation, 54% of survey respondents said collaborating with industry partners is important, with 100% of those respondents saying they have engaged or will engage CX-related outsourced services in the next 18 months. Additionally, 48% spent more than $1M on outsourced CX services in the last year-and-a-half, and more than half (51%) will do so again.
“Unless your company is itself in the business of implementing tools and technologies to vastly improve the customer experience of your customers, it’s vital to work with a trusted partner who can focus on the intricacies and challenges a company can face when they go it alone,” added Kokes.
The CX Buyers’ Insights report can be downloaded here: www.insights.hgs.cx/cx-buyers-insights-report.
HGS commissioned Wakefield Research to conduct this survey of 300 U.S. customer experience decision makers at for-profit organizations with a minimum of 500 employees, between August 29 and September 10, 2023. A combination of single selection and rank order questions were deployed to meet the results outlined in this release. The executive summary for this survey is available upon request.
A global leader in optimizing the customer experience lifecycle, digital transformation, business process management, and digital media ecosystem, HGS is helping its clients become more competitive every day. HGS’ core BPM business combines automation, analytics, and artificial intelligence with deep domain expertise focusing on digital customer experiences, back-office processing, contact centers, and HRO solutions. HGS’ digital media business, NXTDIGITAL (www.nxtdigital.in), is India’s premier integrated Digital Delivery Platforms Company delivering services via satellite, digital cable and broadband to over 5 million customers across 1,500 cities and towns.
Part of the multi-billion-dollar conglomerate Hinduja Group, HGS takes a “globally local” approach. HGS has over 19,947 employees across 35 delivery centers in nine countries, making a difference to some of the world’s leading brands across verticals. For the year ended March 31, 2023, HGS had revenues of Rs. 5,006.7 crore (US$ 621.5 million).
Visit https://hgs.cx to learn how HGS transforms customer experiences and builds businesses for the future.