CXe launched for the global market
Sonata Software, an Indian-origin global IT services and technology solutions company, plans to tap the multi-billion dollar Customer Experience (CX) market to fuel growth with the launch of ‘CXe’, its unique enhanced integrated CX management solutions developed using the ‘Platformation’ approach, Sonata’s highly acclaimed framework for digital transformation.
‘CXe’ is a compelling offering from Sonata designed for clients across the globe looking for holistic end-to-end CX solutions in the post-pandemic new normal.
The global impact of the pandemic has been unprecedented, with the CX market witnessing a major upturn across all regions. According to a study by Fortune Business Insights, the market is projected to grow to US$21.86 billion in 2027, expected to record a CAGR of 13.0%, from US$9.26 billion in 2020.
Sonata had in March 2020 acquired the Melbourne-based GBW, pioneers in the CX domain with 30 years’ experience delivering CX improvement for marquee brands across the globe. ‘CXe’ is a combined result of GBW’s CX Management tools and expertise supplemented by Sonata’s own Platformation methodology of driving digital transformation and deep expertise in aligned technologies like customer engagement, data and analytics.
“Notwithstanding evolving customer habits post the pandemic, the basics of ensuring great CX remains the same. Listening intently to your customer and acting on the feedback. A well thought out CX program involves understanding what drives great customer experience across the customer journey and customer life cycle, using the insights to design great CX programs,” Sonata Software MD & CEO Srikar Reddy said, announcing the launch of ‘CXe’ on 22 Mar 2021.
“A well thought through CX measurement program is critical to ensure the effectiveness of the CX programs. The different components of CX measurement are interrelated and a combination of Mystery audit, mystery shopping & integrated to aVOC program thru a common data platform equip you with the basic tools to make sure your customers are getting a consistent and great CX.”
CX has long been a holy grail for most businesses, those who get it right enjoy loyalty helping the company gain customers who are spending more with them & also gain advocacy – word of mouth, bringing down cost of acquiring new ones, so it is not surprising to see most companies have programs that are asking customers for their feedback.
However, as per Sonata, based on Analyst studies and the experience of GBW, only one in five-six companies get it right. For others, gains from CX remains the proverbial pot of gold at the end of a rainbow. Given the disruptions of the last year when customer journeys have changed for many companies, the task has become more difficult than ever before.
This has created a great opportunity for Sonata to roll out its enhanced CX solution ‘CXe’ to its existing customers and the initial response has been overwhelming from clients across the globe. Sonata is now sprucing up its team to be able to offer the solution to more new customers besides making further investments in solution development and marketing given the opportunity CX provides.
Said Venkatesh Parthasarathy, ex-MD of Dairy Farm and adviser to many leading companies, “This enhanced CX solution from Sonata is indeed unique and covers off pain areas that my team used to have in having different vendors for each program and missing out on a unified view of the customer, but the icing on the cake for me is really about being able to see the impact of the CX programs on your business.”
Grant Salmon, CEO of GBW (now a Sonata Software Company) and an industry veteran, added, “GBW’s experience of over 30 years gives us insights into why Companies fail with their CX management programs, firstly many are “myopic” measuring a single point in the customer journey rather than the complete journey, next, many use do-it-yourself platforms which are great in the hands of an expert, but many clients confuse automation with knowledge & expertise.
“Then, there is the case where data is sitting all over as there are online & retail teams, Customer feedback & Mystery shopping programs overlooking the aspect that the customer is one and teams who have to act basis the feedback are served better when they can see the feedback together rather than in a disjointed manner.
“Finally, you need to know if your CX is impacting your business outcomes and if your programs are not giving you that visibility, you are bound to lose interest. That is why we came up with ‘CXe’ where we offer an end-to-end program that addresses these challenges with conventional programs,” he said. #technology #investment #economy /fiinews.com
