91% of respondents in a recent Ricoh-sponsored global survey agreed that improving effectiveness and efficiency in customer-facing document and information processes could speed their time to market on an average by 13%.
Collaboration is critical to successful product innovation. Collaborative document and information processes bring together customerfacing resources who understand the market need and those who will design winning products and services to meet them.
Processes often thought of as ‘back office’ actually help companies develop the agility to get products and services to market faster – while, at the same time, ensuring they are optimally designed to capture significant market opportunity.
In addition to getting the best products to market faster ? , respondents also said that fixing processes would help their organisations:
- More rapidly address customer needs (78%)
- Respond more quickly to market changes (65%)
- Improve their competitive stance (63%)
Competitors unable to keep up with innovation present you with an opportunity to capture customers in their base who demand cuttingedge solutions. What do you need to do to capitalise on this; how can you more rapidly respond to other changes in your competitive landscape?
Optimising document and information processes can actually help enterprising individuals and teams capitalise on new business opportunities to help grow your top line.
Over 83% of respondents in a recent Ricoh-sponsored global survey indicated that optimising customer-facing business processes could not only reduce costs but would actually increase revenue on average by 10.1%.
Any initiative that can both help reduce costs and improve revenue is a win-win that should be a priority for the entire C-suite. And in today’s online, connected marketplace, increased customer satisfaction (or just as importantly, decreased dissatisfaction) is a compelling competitive requirement.
Broken document processes detract from your relationship with your customers in many ways:
- Are less likely to do future business (68.7%)
- Are likely to take their business elsewhere (60.1%)
- Are likely to tell others not to do business with these companies (56.8%)
Not just customers, you can also lose productive, revenue-generating employees who become frustrated in their customer-facing roles. The cost of replacing sales people has been estimated at up to 200% of the employee’s annual salary. This does not include lost time and opportunity costs while finding a replacement, nor the customers they may take with them.
Optimising processes can help you capitalise on new opportunities and increase revenue from existing customers – by smoothening out your customer on-boarding, responding faster to customer inquiries, increasing collaboration between customer-facing departments, and getting more face-time with customers.