Today, companies are looking for new, transformative approaches to fundamentally change the way they run their existing businesses, while simultaneously changing their business to seize new opportunities that Digital enables. They are challenged to build and maintain relevant brands with digitally connected and informed customers, and must have the ability to engage at any time, on a variety of devices, and over multiple channels.
In order to succeed in the new digital economy and make new products, services, and experiences possible, enterprises must attain new levels of customer intimacy and operational efficiency by simultaneously evolving their business models, operating models, and technology models to deliver specific and well-defined business value.
Build new products, services, and business models
With demanding customers at the center of today’s value chain, delivering engaging products and experiences is even more important. Companies must engage customers by envisioning and building innovative products and experiences, developing go-to-market approaches, and inventing disruptive new business models. This enables businesses to generate new growth, meaningful differentiation, and real economic value.
You must begin with data science, human-centric design thinking, and knowledge of your industry's most important processes. With these insights, you can inspire intelligent products, disruptive strategies, and new ways of engaging customers across every channel. The result: You can differentiate your business and seize the enormous growth opportunities that digital makes possible.
Embrace digital operating models
Only those companies built on agile, intelligent, and digitally enabled processes can deliver vastly more humanized transactions and experiences that outpace customer expectations. Companies must reimage and create the digital processes that not only drive performance but also close the process gaps between customers, suppliers, and partners with automation, insight, and process platforms.
Future-proof your IT landscape by implementing a simple, modern, and secure technology backbone
Leaders who want to drive their organizations to market-leading futures must re-think how to build and maintain an efficient, extensible, resilient and safe digital backbone. High-performing enterprises will quickly assess their current environment and lay the foundation for success by simplifying, modernizing, and securing their infrastructure.
The result of this approach: Digital at Scale – reimagining processes, redesigning ways of working, and reengineering process infrastructure to activate operational agility, efficiency, and business growth. By leveraging technologies and engineering excellence, you can consolidate your redundant legacy systems, simplify existing processes, automate application delivery, and leverage smart operations to harden and transform your current apps and infrastructure – so your business will be ready for today’s and tomorrow’s digital future.
We find leading companies are taking the following approaches:
- Driving better customer experiences by harnessing the power of conversational AI, automation, and analytics.
- Applying robotics and artificial intelligence to drive business change.
- Reshaping business models, modernizing products, and enhancing customer experiences to better compete against “Digital Native” competition.
- Enabling cloud-based solutions to improve responsiveness and flexibility, and reduce total cost of ownership while better enabling growth.
To grow revenue, market share, and profitability in today’s digital world, businesses need to consider technology changes at every layer of the enterprise. This assessment begins with an overhaul of the user experience, leveraging digital tools such as natural language search and virtual or augmented reality, to help customers choose the most appealing products and enable staff to support them. These changes ultimately ripple down to the business processes required to deliver these new experiences; the applications that manipulate the data underlying the processes; and the databases that store customer, product, and financial data.
We believe Cognizant is uniquely positioned to deliver services to help companies succeed in the Digital Era – from rethinking the point of interaction with a customer all the way, to the selection of the tools and software to enable the enterprise. No one has the ability to bring together a range of integrated solutions with deep domain expertise, a global delivery ecosystem, and culture for embracing dynamic change like Cognizant.
Health Net Federal Services’ Digital Transformation Journey: Digital transformations are always challenging; especially when conforming to HIPAA regulations, federal contract requirements, and immovable implementation dates. Find out how the Health Net Federal Services’ team started transforming customer service for a major federal health care contract by partnering with Cognizant and using Pega as their digital automation platform. Their journey includes CRM enhancements, robotics, messaging, chat, and bots. Hear directly from Health Net Federal Services IT and business leads about their journey and realized outcomes.
Join us in the Tech Pavilion for the following demos.
Loss mitigation:The Loss Mitigation solution aims to evaluate delinquent borrowers for loan modification programs and provide them with affordable terms of loan repayment. It streamlines the process of borrower's document procurement, application evaluation and review, monitoring of trial repayment plans, and eventual transition into final repayment plans.
Pega on cloud: Introductory offering of hosting and enabling clients to migrate their existing on-premise application to a Cognizant Managed Cloud environment. This provides for cost efficiencies, delivers value, and enables clients on their Digital Transformation Journey.
iAudit – Member Touchpoint Measure (MTM): The solution assesses service performance by monitoring enrollment processing, claims adjudication, inquiry resolution, and first call resolution to determine responsiveness to customers. This is done by determining a score of each health plan based on the outcome of the review process. The score reflects the overall service the health plan is providing to members and employers.
Digital Millennium Copyright Act (DMCA): Digital Millennium Copyright Act, DMCA, protects organizations and individuals that produce or own digital media content from copyright infringements. The solution brings in a strong foundation to handle DMCA Life Cycle from first notice until its termination. The solution supports multi-channel interactions to initiate a take-down notice case.
NextGenSS: Enable Rapid Deployment and Transform Sales and Service: NextGenSS enables rapid deployment and transformation of sales and service for insurance agents. It helps to grow and retain customer value and enables customers to make their own decisions on policy selection. This solution leverages customer historical data to gain insights on customers and support cross sell/up sell.
- Discover why Cognizant is one of the world's leading professional services companies, transforming clients' business, operating, and technology models for the digital era.
- Read how Cognizant helps you reinvent products, experiences, and business models to create new value, differentiation, and revenue in the digital economy.
- See how Cognizant Digital Operations helps you harness digital power to propel experiences and outcomes.
- Learn how Cognizant Digital Systems & Technology help you navigate the shift to digital.
- Optimize the customer experience with Cognizant and BPM software from Pegasystems.
- Cognizant’s Center For The Future of Work examines how work is changing, and will change, in response to the emergence of new technologies, new business practices, and new workers.
ABOUT THE AUTHOR: As Delivery Leader for Cognizant’s Pega practice, Suren Rangaraju helps our clients reinvent themselves for the Digital Age – by focusing on a digital platform, reimagining their client’s associated business processes, and co-innovating with them to shape the customer’s experience and journey.