- Digital transformation
This is no longer an aspirational choice for providers and it is essential to adapt business models to the needs of the market in the 21st century. - Replace legacy systems
They require excessive manual interventions and increasing complexity, regulation and data security are driving up maintenance costs. - Transform operations
This will reduce costs, meet the demands of regulators and improve consumer outcomes. - Capital expenditure on new digital platforms has failed to meet these challenges over the past two decades. This must be examined.
- Catalyst for change
The COVID-19 pandemic has amplified the development of the digital business world and broadened its consumer appeal. - Adapt to remote working
The new normal post COVID-19 environment increases pressure on legacy systems. - Be aware of disruptive businesses
New disruptive businesses are being launched that need access to a new type of partner who can manage their middle and back office needs at the same speed they are developing. - Find the right BPO partner
Business Process Outsourcers must be capable of serving all areas of the market with efficient, modern technology backed by knowledgeable human resource. - Own the transformation process
Demand for change within providers and distributors is being held back by a disconnect with those charged with effecting change. - Focus on making meaningful change
Providers and distributors will find themselves increasingly marginalised.
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