We've heard it before - the democratization of IT and the prevalence of mobile technology has fundamentally changed consumer behavior and expectations.  

In addition, businesses are struggling to keep up with the rapid growth in data while adhering to new legislation.  How many are caught in an innovator's dilemma?   (https://hbr.org/2011/11/why-does-the-innovators-dilemm).  

Business must adapt quickly in order to survive.  A recent poll by Couchbase estimates that fewer than 50% of business will survive longer than 4 years if they cannot keep pace with digital innovation leaders in their industry.

A recent poll by Couchbase estimates that fewer than 50% of business will survive longer than 4 years if they cannot keep pace with digital innovation leaders in their industry

This puts traditional print service providers in a challenging, yet enviable position - while their traditional lines of business are being challenged by new technologies and consumer expectations, their positions as trusted providers to large, established firms puts them in the enviable position of being able to help these businesses compete through better customer experiences.  

The Key Drivers of Change

An important element of driving better experiences is faster and more accurate access to personal information.  For many national and international financial services firms and insurers, these outputs must be created by converting legacy paper-based processes into multi and omni-channel customer communications.  In effect, businesses must respond to a new technology cycle - where new technology is influencing consumer behavior.  This changing behavior increases the need for digital transformation in order to drive better customer experiences.  

businesses must respond to a new technology cycle - where new technology is influencing consumer behavior.  This changing behavior increases the need for digital transformation in order to drive better customer experiences

Companies that can get ahead of this cycle are poised to outpace their competitors by bringing better customer experiences to market faster.

The Service Provider Digital Transformation Model

While there are best practices for approaching digital transformation, there is no single approach that works for every service provider.  At the upcoming complimentary virtual event - SP Transformation Day (https://de.quadient.com/news-events/sp-transformation-day-virtual-event) on February 27th – CCM experts from Quadient as well as our customers and partners from around the world will be highlighting the different approaches to digital transformation that we have named as five different phases of our Digital Transformation Model.

These five different phases include:

 

  1. Print Centric
  2. Digital Aware
  3. Digital Focused
  4. Digital Challenger
  5. Digital Leader

different approaches to digital transformation that we have named as five different phases of our Digital Transformation Model

Selecting the right place to start is paramount to ensuring that you develop the right set of offerings to support your enterprise customers in their search for paper to digital transformation, and long term customer experience excellence.

How Service Providers Can Respond

Print service providers are under enormous pressure to transform — as communications are becoming more intertwined with digital experiences, enterprise clients are increasingly demanding SPs to act as strategic advisors to help them successfully navigate through a changing industry. With data and regulations becoming more important than ever, SPs will need to evolve their business and become more digitally oriented.

For more detail on how you can leverage the SP digital transformation model for your business, please be sure to join our complimentary virtual event Service Provider Transformation Day on February 27th.  All attendees will be receiving a copy of our upcoming eBook "Service Provider Transformation: A Pragmatic Guide to Achieving Digital Success”.  For more information, or to register, please click here:  

https://de.quadient.com/news-events/sp-transformation-day-virtual-event

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