Year after year, we all say that change is the new normal. But, let’s face it, we never thought it could be this fast, this deep, and this transformational as it is right now. Businesses have reached a point where they need to continuously reinvent themselves with new business models and by responding to dynamic economic forces with considerable intelligence and agility. And when they don’t, well, we all know what happens.
Perhaps what’s most stunning about this “new” era of continuous change is the diversity in which businesses are leaning into it. From business models focused on hydrocarbon reduction and renewables to those based on outcomes, intelligent services, and new-market creation, companies are accomplishing more than just shifting the paradigm of their brand. They are also disrupting their entire industry by reimagining how every person they touch experiences the world.
Refocusing innovation to produce change that matters
As Peter Maier, general manager of industries at SAP, shared during his keynote address at the 2019 Best Practices for Oil & Gas conference, innovation can make significant contributions, but they are not always positive. The latest statistics and analyst predictions indicate that intelligent technologies – like artificial intelligence and machine learning – are playing a more prominent role in innovation. However, according to Maier, “this trend is useless unless we make it relevant to improving efficiency or increasing the top line.”
For innovation to be meaningful, it needs to reflect and complement the purpose of a business. It may take another year or so, but ultimately innovation must be readily embraced across the entire business network. Maier advises, “new capabilities should be embedded into day-to-day operations to deliver sustainable and impactful change.”
The integration of intelligent technology into an existing landscape of IT systems and business processes is undoubtedly a critical component of innovation. But equally important in the overall transformation story is experience management.
How are they feeling? How are they doing? This line of questioning is not only for people who are directly interfacing with new technology. It’s also for the brand and the customer base that reap the potential benefits of the outcomes delivered.
“Wherever you have interactions, businesses have to ensure a level of protection to everyone and everything involved,” stated Maier. “So when a customer’s net promoter score is not as high as it should be, businesses need to take action immediately – not one year later.”
Building value that inspires and delivers transformation
The bottom line on innovation is about creating value that inspires people. From best practices to cloud platforms and intelligent algorithms, users should openly adapt in ways that move the business forward as much as possible.
Even if the technology is impressive, users still want to know that it will not become a barrier to their success. A demo of new features and functionalities may seem helpful, but it doesn’t demonstrate a compelling case for adoption. But once business leaders can make a persuasive case that relates to the experience, sentiments, and desires of users, the energy to deliver positive change is boundless.
Understand how your customers and employees are feeling – and deliver better and more personalized experiences that make them happy with experience management solutions.