Experience Management is Connected to IE Progress
Four critical and related elements of the intelligent enterprise are customer experience, employee experience, product experience, and brand experience. Together these are referred to as experience management — the human side of business.
Experience management is part of the capabilities required to become an intelligent enterprise; in fact our study found that 73% of IE Leaders will increase their focus on employee experience next year, compared with only 44% of IE Observers. Similarly, 59% of IE Leaders will increase their focus on customer experience versus 44% of IE Observers.
One aspect of an experience management program is the ability to rapidly assess and report insights to key decision makers on the current state of customer feedback. For example, Canada Life uses Qualtrics™ to deploy an enterprisewide customer experience measurement program. Results are used to inform improvement initiatives on product and service design of specific touchpoints and journeys.
"Qualtrics™ has allowed us to make sure that we can be nimble as needed … We are able to provide democratized access to real-time insights based on the feedback that we get."
Customer experience (CX) is a functional activity encompassing business processes, strategies, technologies, and services that companies use to provide a better experience for their customer and to differentiate themselves from their competitors. The SAP-IDC IE study found that customer experience is the second most common measure of performance of digital strategy, and that it was linked to financial performance.
Overall, 64% of organizations indicated that their CX efforts had a moderate or significant positive impact on financial performance over the previous year, and this proportion was even greater for IE Leaders.
Digital transformation is changing the way that human resources operates. Programs, resources, and tools are being put in place to track employee engagement, performance, and well-being. HR, human capital management, and employee engagement are well established capabilities within most organizations. However, what is novel is the connection between employee experience and customer experience. 89% of IE Leaders said that it is very important or critical to improve employee experience while improving customer experience.
And the responsibility for employee experience does not just remain within the HR department; it is cross-functional, and IT can play a key role.
"I don't roll anything out personally under my direction that doesn't have some mechanism to track adoption … User employee experience is super important."