Digital transformation spending: How do you stack up?
Digital transformation is on the lips and minds of business leaders for good reason: those who aren't modernizing their customer experience (CX) have already started falling behind competitors that have embraced next-gen technologies.
With near countless options ranging from chatbots to machine learning to RPA, brands embracing these and other digital solutions are enhancing interactions at key consumer touchpoints and optimizing their operations. Given the myriad of options available, it's not surprising there are also limitless ways to approach digital transformation. Here's a look at how and where global businesses are spending in order to improve the digital customer experience.
* Gain-share agreements: Contractual relationships between a business and provider that reward innovation, productivity and profitability outside the terms of a master agreement, or as an addendum to it.
Outcome-based: Service provider is compensated based on levels of outcome achieved, vs. at the transaction or resource level.
Incentive-based contracts: Contract with a set fixed price or cost reimbursement plus a sliding scale of profit or fee that varies inversely with the cost.
Shared risk-reward: Flat rate pricing structure in which additional payments are based on achieving specific stated objectives.
This report sounded the views of 491 enterprise executives, each of whom has strategic decision-making authority over contact centers in their respective organizations. Feedback came from the U.S. (24%), the UK and Germany (16%), Australia (15%), Canada and France (14%). Interviews were conducted over the telephone during Q1 2019 in English, French or German (depending on the respondent's country of residency). Vertical markets in the sample base included: retail banking, insurance, health care, government, retail, e-commerce, technology, travel/hospitality/leisure, telco, born-digital and utilities The revenue mix for respondents ranged from between $10 million to over $5 billion (USD).