Accenture research finds that only 7% of brands are exceeding customer expectations and, even worse, 25% don’t meet customer expectations at all.
Company leaders need to be awake to the fact that customer expectations are outpacing their brand experiences. The ticket to success is improving their understanding of what consumers actually want – and then exceeding them – while simultaneously identifying opportunities to save and grow.
After all customers are increasingly brand and quality conscious and expectations are being forged by their experiences of leading brands across industries. They seek out the latest trends but watch their budget‚ and look out for personalised as well as unique shopping experience. However, many companies are still failing to deliver on these standard expectations. In the Expectations vs. Experience: The Good, The Bad, The Opportunity, survey, Accenture highlights that brands are more pessimistic, with only about 2/3 believing they have technology, processes and organisations in place to deliver. Furthermore, only 1/3 believe their data and analytics are differentiating.
Prioritising the customer mindset is therefore the key to overcoming the hurdles to expansion and retention in the modern marketplace – and then unlocking opportunities to grow.
Essentially, the ability to harness digital acceleration needs to be inculcated in the corporate mindset. A vista of new savings and growth opportunities awaits for those who enter the journey to the Cloud, the intelligent customer and intelligent enterprises.
What I mean by this is that companies need to be able to adapt to a dynamic state of constant flux and this entails embracing digital at a rate that is about double that of their peers. They need to turn data into insights and action and identify and secure more partnerships to become high performers.
These trends are in play across Africa, where large-scale smart phone adoption, a decline in data costs and increase in internet penetration is totally changing the landscape. African businesses have the unique advantage of leapfrogging legacy architecture which can keep them a step ahead. But for this to happen digital acceleration needs to be seen as a friend rather than an enemy.
The reality is digital is driving convergence across a number of industries, enabling new competitors to enter, and forcing companies to redefine how they compete. At the same time, there is added pressure from active investors in various industries who have a higher expectation for profitability. Speed is the new normal and companies need to become more determined to survive this perpetual state of uncertainty by becoming lean and agile enough to focus on aggressive, sustainable growth.
The task may be great and the stakes high, but the path forward is clear: to grow, companies must proactively identify activities that drive value, take out costs that are not contributing to business goals and reinvest those savings into growth.
In this regard, Cloud is not the future. It’s already here, and more businesses are finding that the sooner they adopt cloud technology, the better positioned they will be to compete in an increasingly brisk, aggressive marketplace. Companies that want to achieve the type of agility they need to succeed in today’s business climate, migrate to cloud while embracing a robust ecosystem of cloud solutions. And they’re teaming with Accenture to make the journey a safe, affordable and profitable one.
The next level of operational excellence will emerge from the latest gains in software intelligence. Business and technology leaders must now view software intelligence not as a pilot or a once-off project, but as an across-the-board functionality – one that will drive new levels of evolution and discovery, propelling innovation throughout the enterprise. Artificial Intelligence (AI) is one of the many great examples.
Accenture strives to be Africa’s true digital accelerator and enabler and we are going to do that through innovation that has been tried and tested in the market.
Being a global entity plugged in to the latest innovation has immense benefits too. For instance, innovation by us in Japan can land here the following day. Equally, when we develop something powerful in Africa it can be exported into the mobile marketplace just as quickly.
At the end of the day customers are becoming more intelligent and demanding and technology around those demands does exist – but is not being harnessed quickly enough. We know that the mall of future, for instance, will be on mobile devices and so we need to be helping clients to figure out what to do with a Sandton City, for instance, when a lot less is happening in a mall.
Sometimes decoupling old technology can quickly enable oganisations to begin moving at pace and with scale. We therefore need to go inside that enterprise in Africa to help clients accelerate digitisation and thereby capture what is happening on the outside. Artificial intelligence, for instance, can be harnessed to weed out fraud and improve trust for entities at a time when there is a trust deficit in many markets.
Essentially digital acceleration means you will need to work in a more agile, nimble and smaller world. This is why we are investing more in our people and in innovation itself. That is our differentiator – being at the centre of true innovation to be an enabler of digital acceleration.
“Hello BMW” – Now we’re talking
BMW brings impressive safety features and a built-in voice assistant to its 4th generation X5, writes BRYAN TURNER.
Marking 20 years since its release, the BMW X5 has been given a substantial redesign for its fourth generation. A major revamp of aesthetics and functionality affirms this luxury Sports Activity Vehicle’s (SAV) position in the market.
New safety features not only make it safer but also more comfortable to drive. The redesigned headlights utilise laser lighting, which eliminates glare on reflective objects like signboards in dark driving conditions. The laser lighting technology also extends the distance of bright lighting to about 500 meters, 200 meters further than the previous generation.
The Driving Assist Professional package, an option for the SAV, comprises a steering and lane control assistant as well as a lane keeping assistant. These assistants work closely with a smart collision evasion system, which helps avoid collisions with vehicles or pedestrians suddenly appearing in the driver’s path. As soon as an evasive manoeuvre is detected, the system assists the driver with steering inputs to direct the vehicle into a clear, adjacent lane.
BMW Operating System 7.0, the latest version of the car’s software, focuses on customisability. This means that more aspects of the vehicle can be set up in a way that is most comfortable for the driver. For example, the 12.3” infotainment panel features a home screen which uses a three-tile layout, where one can have one large tile and two smaller tiles. These tiles can be swapped around and configured to the point where drivers no longer have to search through menus to get what they would need, as their favourites sit on a customised home screen.
The X5 gets a voice assistant with the BMW Assistant Professional. “Hello BMW” will wake the onboard voice assistant for voice commands. These voice commands could be anything from “Play rock music” to “Is my tyre pressure okay?”. Renaming the voice assistant’s wake prompt is also possible if the driver has named their car something other than BMW.
Keeping in line with the latest technology, the X5 features options for a wireless charging tray in the front and two additional USB Type-C ports. Other features include an adaptive navigation system, a hard-drive-based multimedia system with 20 GB of memory, Bluetooth and WiFi connectivity.
BMW’s attention to minor details goes a long way with massage seats and thermo-cupholders. Electrically adjustable and heated sports seats are fitted standard. Additional options include seat massage functionality and ventilated seats. The thermo-cupholder option allows a driver to keep a beverage heated or cooled during a drive.
Unlocking the X5 with a smartphone will soon be a reality with a planned update to the BMW Connected Drive app, in the second quarter of 2019. BMW Digital Key brings functionality to lock and unlock the car with a smartphone’s NFC chip, which eliminates the need for a traditional car key. The driver will simply hold the smartphone to the door’s handle and the car will unlock. Once the driver is inside, the smartphone can be placed on the built-in wireless charging tray, and the NFC chip will register again to verify the driver. From there, the engine can be started.
Overall, exciting technology features come with the new X5 and even more impressive features will come with software updates in 2019.
ERP needs asset management
A single, integrated EAM and ERP solution can power an asset-intensive business into the future, says MOHAMED CASSOOJEE, MD and Country Manager, IFS South Africa and Africa.
Most Enterprise Resource Planning software originated in the manufacturing sector as materials resource planning (MRP) solutions for organisations that needed to manage a lot of inventory. From there, they were rapidly developed into solutions for every industry imaginable.
But these roots mean that most standalone ERP software isn’t quite enough on its own to address the needs of organisations in asset-intensive industries such as metal foundries, mining, oil and gas, pulp and paper, energy and utilities, and construction and engineering.
Companies in these sectors are not managing inventory as much as they are managing the capacity of a fixed asset over its lifecycle as well as handling large-scale infrastructure projects with long planning cycles. This is where enterprise asset management (EAM) comes into play, offering capabilities that are not found in typical ERP systems.
EAM systems are built to help organisations manage assets such as plants, heavy machinery, pipelines and industrial-class vehicles. These solutions enable organisations to track the location and status of assets and asset objects in real time, schedule work orders to maintain and fix the assets, and manage the storage of spare parts required to service them.
As Africa’s governments, state-owned enterprises and private sector step up infrastructure investment, EAM has a vital role to play in ensuring that organisations drive the highest possible value from their new assets, whether these are telecoms networks, railway systems, ports or power plants.
According to the World Bank, Africa needs to spend around $93 billion a year over the next decade to address its infrastructure backlogs — about one-third of that cost is for maintenance. In 2008, World Bank found that about 30% of the infrastructure assets of a typical African country needed rehabilitation.
These numbers point to the urgent need for organisations across the continent to take a more proactive and preventative outlook towards maintenance of their key infrastructure and assets. Implementation of EAM can enable organisations to better track, manage and maintain assets to prolong their lifespan and enhance return on investment.
From asset planning to construction to operation to decommissioning and replacement, EAM allows organisations to maintain, manage and optimise assets over the entire asset lifecycle. By helping companies to increase asset productivity and availability – while reducing total cost of ownership – EAM can have a direct impact on profitability and financial sustainability.
Good EAM solutions can also be paired with corporate performance management and analytics tools to let organisations analyse operation disruptions and determine and address the causes, such as maintenance issues, inadequate training, or design faults.
Technological advances, along with the associated price drop for smart products being developed for the Internet of Things (IoT), now make it possible to monitor almost any asset in real-time from nearly any location across the globe. This further boosts the power and usefulness of an EAM solution. It is imperative that the EAM solutions that are implemented are built on robust, newer technologies that can easily support IOT, AI and smart bots.
EAM and ERP: a critical partnership
To sum up, ERP manages business operations, while the EAM system manages all the monitoring and operations of the asset. That means for most companies it isn’t an either-or choice because they need both EAM and ERP to drive optimal business performance.
Some organisations opt for so-called ‘best of breed’ EAM and ERP solutions from different providers. Yet integration can be a headache. The challenges include master data synchronisation and transaction integration. The company may also need to consider whether the ERP or EAM system is the better fit for a particular transaction or asset type.
However, for most organisations in asset-intensive industries, the ideal solution is an ERP system with extensive EAM capabilities: a system built from the ground up to manage not only basic business functions but also assets and their maintenance. Such a solution provides one complete solution spanning key processes and data.
This approach enables the organisation to truly manage and maximise value over asset lifecycles. It also empowers the enterprise to organise operations around the assets and individual asset objects it uses to create value for stakeholders, customers and the community.
For most asset-intensive companies, delivering EAM capabilities as part and parcel of an integrated ERP solution, simplifies their business systems landscape, giving them a single source of truth. The same arguments apply to project management and workforce management systems.
Organisations seeking to transform their business by standardising processes and leveraging reliable, real-time data will benefit from an ERP system with all of these capabilities, setting them up to adopt IoT, artificial intelligence, or whatever other new technologies are coming up next.