Social Business Let’s transform how business is done

Alpesh Doshi

Fintricity

E: alpesh.doshi@fintricity.com

M: +44 7973 822820

W: www.fintricity.com

presented at:

Online Information 2012

A world of Social Business

The integration of Social Business into Enterprise Design is causing a shift in

the way businesses work

Social Affects the whole Enterprise Social will impact every business unit

Social business is actually about Business Transformation

Operational Transformation

Marketing Transformation

Sales Transformation

Customer Service Transformation

Human Resources Transformation

Digital Transformation

Social Enterprise Characteristics We can see the sources of data below and their weighting and quantity of information

for those sources

Engaged. Social Business connects

people internally and externally to engage

with each other in the ecosystem

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Transparent. A social business removes

boundaries between people within the

enterprise and people outside

Agile. A social business is nimble reacting

in real time and making better and quicker

decisions

`

Deepen Customer Relationships 88% of IBM CEOs in a recent survey cited

‘getting closer to the customer as the most

important dimension to their strategy

Drive Operational Effectiveness Drive innovation and change faster to

build new products and services. Gather

requirements straight from the customer

Optimise the Workforce Use Social technologies to connect, build

relationships and collaborate effectively

to discover skills and expertise in

delivering value to the enterprise.

Capturing all activities along the way

Customer Lifecycle – bring the customer in Transform the way we deal with customers, and work with them

Customer Acquisition Customer Experience Customer Innovation

Engage and Optimize

Customer and Market Insight. Using modern technologies and digital web, together with

3rd party sources, detailed market and customer information can be collected on activities, trends,

sentiment, customer networks, m&a etc.

Listening

• Customer information and

Data Discovery

• Customer Collaboration

• Customer and Intelligence

• Marketing through

collaboration

• Connected company

• Integrated across BU

• Customer Collaboration

environments

• Operational integration

• Sell data and content

• Provide thought leadership

• Customer collaboration to

solicit ideas product/

service

• Use for market research

• Crowdsourcing

Context

Culture

Process

Metrics

People

Policies

Regulations Internal business objectives

Ways of working Company and employee behaviors

Alignment for resources and funding Decision making formalized and accountability clear

Measurement established for: financial; performance; resources Centralize analytics functions

Clarity of roles and responsibly Accessibility of training

Define acceptable, unacceptable, desired and undesired behaviors among internal and

external audiences

Social’ becomes embedded in the fabric of the organization because it impacts many

areas. It requires comprehensive business strategy and approach to ensure consistent

experiences, reliable content creation, data governance, scale, analytics.

Social Requires a Strategic Approach

Applications of Social Business

Some real examples of where Social Business is already being effective

?

Collect data from the outside

Now: Tap into rich info from sites to

customize offer and message (age,

profession, interests) reach into his network

and make inferences to gain additional

information

Before: off-/online insight

Provide value to customers in

conducting business

Better tailored information and services to

customers

Before: Shares brochures with customers

Personal Experience Creation

Now: Put customers at the centre of your

business and refocus all services that way.

Digitally.

Before: Products first, customers second

Personal Influence Tracking

Now: Know how more about customers and

their individual preferences in business and

personally

Before: very little information

Increased level of insight, engagement & true two-way conversations and business

Brand

Ambassadors

B2B Market

Engagement

Customer

Relationship

Management

?

Allow employees to

talk externally and

represent the bank,

building trust and

awareness in the

relevant areas

Build better

relationships with

Customers and

provide value beyond

transactional banking

relationships through

your own or third

party communities

Integrate collaboration

and Listening into

CRM systems for

better customer

insight and

relationship

management across

the bank

Extends across: Sales, Marketing, Customer Service, Operations, Risk, Finance, IT

How is this delivered? A Unified Digital Workspace! The new social business environment will be delivered through a browser based, unified

digital workspace.

The browser becomes the tool of choice (and its mobile variant) All work will be done in the browser (or mobile app). No more moving to separate applications

to find data, find people, take action

Line of Business (LOB) systems will have data pulled into the UDW All data and information will be pulled from sources systems, in real time and connected (using

semantics and other ‘data connection’ technology)

The network centric enterprise will be represented by Social Objects As the enterprise transitions into being network centric, the social graph containing social

objects will appear in the UDW to put Social Objects (people, data, apps) into this environment

Significant Business Transformation will be required to make it real! Do not underestimate the business and technology transformation that is required. It’s a new

Way of Work internally and externally

Thank you for Listening

Alpesh Doshi, Fintricity

m: +44 7973 822820

w: www.fintricity.com

b: www.alpeshdoshi.com

o: +44 870 020 1656

t: @alpeshdoshi

l: www.linkedin.com/in/alpeshdoshi