When you contemplate your firm’s competitive landscape, one of the growing threats is market disruptors in adjacent markets. These firms seem to be able to effortlessly offer a superior customer experience (CX) from the time that the customer is evaluating options on the web through signup with a new service provider, and then growing their relationship with that provider through an impressively superior experience. They do this without lengthy and IT-labor intensive financial data integration on either the customer’s end or their end.
One of the reasons you are not able to outperform them is the way you integrate and manage your customer data. Conventional financial data integration and management approaches can impact critical processes such as data onboarding, transformation, and analysis — sabotaging your speed to value and ease of doing business.
Have you outsourced your business data integration to a managed service provider? In many cases, these vendors charge you by the volume of your transactions. In spite of massive economies of scale in the cloud and in network bandwidth, your costs of secure data exchange with clients can become unwieldy as you become further integrated and more successful in gaining clients.
Much worse than that, in order to onboard new customers into your data ecosystem as well as expand your level of digital integration with existing clients, your business is suddenly on hold and at the whim of the expense and availability of your vendor’s IT integration experts.
Are you in control of your B2B data exchange, or is your B2B data exchange rate the limiting factor of your business growth potential? (And of your customer’s experience journey?)
What would it mean for your business if you could re-imagine your approach to customer data integration and implementation? What if it could be done by business people — quickly, easily and securely?