ETFOptimize | High-performance ETF-based Investment Strategies

Quantitative strategies, Wall Street-caliber research, and insightful market analysis since 1998.


ETFOptimize | HOME
Close Window

Conduent CX Research Finds Strong CX Fundamentals Are Essential for Maximum Impact in the Retail/eCommerce Consumer Relationship

FLORHAM PARK, N.J., Sept. 13, 2023 (GLOBE NEWSWIRE) -- Conduent Incorporated (Nasdaq: CNDT), a global technology-led business solutions and services company, released new research that provides a focused, in-depth view of the state of the customer experience (CX) within the retail/eCommerce vertical. At the center of the research findings, the lynchpin to standout customer experiences is a strong dedication and discipline to CX fundamentals, such as people, training, and robust processes, that layer in advanced technology, and not vice versa. The research, Experience & Loyalty Insights: A Research-Based Review, is a collaboration between Conduent and Execs In The Know.

Key Research Findings from Corporate CX Practitioners
Based on this survey of corporate CX practitioners, the research identified four areas where Retail/eCommerce brands should invest to heighten customer experience:

  • Self-service capabilities for consumers to achieve quick, efficient resolution of high-volume inquiries
  • Measurement of customer satisfaction and engagement as an indicator of loyalty
  • A consistent, empathetic omnichannel customer experience across delivery channels (i.e., email, chat, live, social, etc.)
  • Standardization of business processes leveraging journey mapping, human-centered design, and industry best practices (e.g., COPC Inc. certification across delivery centers and geographies)

CX Impacts Business
Research shows companies have made progress on the level of customer care provided, but brands still must do better. Customers are seeking out faster, simpler transactions, more consistency across channels, and easier access to live support. For example, 42% of survey respondents said the care provided today is “Better” or “Much Better” than that of three years ago. The good news for Retail/e-Commerce brands is that 62% of their customers think their customer care needs and expectations are generally being met, versus 35% of consumers across all industries.

“Regardless of the industry, companies must understand that delivering exceptional customer experience is essential to developing and maintaining loyal customers and to converting new customers. A key insight from the research is that success starts with the fundamentals of customer service, and the importance of focusing on a strategic roadmap to meet the needs of each consumer rather than the appeal of new technologies,” said Ryan Collins, Vice President of CXM at Conduent. “At the core of excellent customer experience is the focus on people, process and strategic technology, leveraged together to meet expectations today and tomorrow.”

Brands Need to Take Action
The research also identified several specific areas where brands can improve their customer care offering. These included improving access to live support, faster service, and better communication skills among agents and brand representatives with the following:

  • Advanced Technology: Conduent’s cloud-based technology stack is built on a fully integrated secure platform incorporating conversational AI, sentiment analysis and predictive engagement to improve business outcomes and increase efficiency. Customers can quickly route through automated help, and workforce planning helps brands plan for peaks and valleys in support needs.
  • People: Industry analysts frequently recognize Conduent for resourcing and training quality multi-skilled and multilingual talent who are empowered to empathetically work with customers to address their needs and help strengthen their relationship with brands.
  • Processes: Conduent helps businesses and agencies elevate their performance by leveraging AI and analytics to automate processes and repetitive tasks, as well as develop insights to improve the customer experience.

By focusing on consumer loyalty, providing meaningful relationships, and aligning staffing, training, and processes with the brand’s cultural identity, customer experience leaders can elevate their business success.

Conduent is a strategic advisor and partner to a broad base of Fortune 100 and government clients with its industry leading customer experience solutions.

About Conduent
Conduent delivers digital business solutions and services spanning the commercial, government and transportation spectrum — creating exceptional outcomes for its clients and the millions of people who count on them. The company leverages cloud computing, artificial intelligence, machine learning, automation and advanced analytics to deliver mission-critical solutions. Through a dedicated global team of approximately 60,000 associates, process expertise and advanced technologies, Conduent solutions and services digitally transform its clients’ operations to enhance customer experiences, improve performance, increase efficiencies and reduce costs. Conduent adds momentum to its clients’ missions in many ways, including delivering 43% of nutrition assistance payments in the U.S., enabling 1.3 billion customer service interactions annually, empowering millions of employees through HR services every year and processing nearly 12 million tolling transactions every day. Learn more at www.conduent.com.

Media Contact:
Lisa Patterson, Conduent, +1-816-305-4421, lisa.patterson@conduent.com

Investor Relations Contacts:
Giles Goodburn, Conduent, +1-203-216-3546, ir@conduent.com

Note: To receive RSS news feeds, visit www.news.conduent.com. For open commentary, industry perspectives and views, visit http://twitter.com/Conduent, http://www.linkedin.com/company/conduent or http://www.facebook.com/Conduent.

Trademarks
Conduent is a trademark of Conduent Incorporated in the United States and/or other countries. Other names may be trademarks of their respective owners.


Primary Logo

Stock Quote API & Stock News API supplied by www.cloudquote.io
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms Of Service.


 

IntelligentValue Home
Close Window

DISCLAIMER

All content herein is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy, nor should it be interpreted as a recommendation to buy, hold or sell (short or otherwise) any security.  All opinions, analyses, and information included herein are based on sources believed to be reliable, but no representation or warranty of any kind, expressed or implied, is made including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. We undertake no obligation to update such opinions, analysis or information. You should independently verify all information contained on this website. Some information is based on analysis of past performance or hypothetical performance results, which have inherent limitations. We make no representation that any particular equity or strategy will or is likely to achieve profits or losses similar to those shown. Shareholders, employees, writers, contractors, and affiliates associated with ETFOptimize.com may have ownership positions in the securities that are mentioned. If you are not sure if ETFs, algorithmic investing, or a particular investment is right for you, you are urged to consult with a Registered Investment Advisor (RIA). Neither this website nor anyone associated with producing its content are Registered Investment Advisors, and no attempt is made herein to substitute for personalized, professional investment advice. Neither ETFOptimize.com, Global Alpha Investments, Inc., nor its employees, service providers, associates, or affiliates are responsible for any investment losses you may incur as a result of using the information provided herein. Remember that past investment returns may not be indicative of future returns.

Copyright © 1998-2017 ETFOptimize.com, a publication of Optimized Investments, Inc. All rights reserved.