Omnichannel CX provider Genesys eyeing 50pc growth in India

Soma Tah

In this age of instant gratification and instant vilification, customer experience (CX) is becoming a key differentiator for the brands. A CX survey by McKinsey found that while more than 85 percent of customers increased their value to a bank by purchasing more products or investing more of their assets, after a positive experience; more than 70 percent also reduced their commitment when things turned sour.

As customers increasingly engage with businesses through the mobile devices, the customer journeys tend to be more random and self-directed. The reason companies that aspire to maintain both the highest levels of CX satisfaction and brand recognition- deploy omnichannel solution to increase customer satisfaction.

As new channels of communications are emerging faster, they will push businesses further to manage and move the customer communications seamlessly across different platforms and channels. "Asynchronous messaging, artificial intelligence (AI) and multimodal channel communication are some of the key technology trends in the CX domain," said Keith Budge, SVP & GM-APJ of the omnichannel CX and contact center solutions provider, Genesys.

Businesses are also realizing the benefits of embracing IoT for customer satisfaction. Of the businesses that had integrated IoT in their CX solutions, more than 70 per cent said their solution enabled them to influence their customers’ buying and engagement decisions, said a study done by Genesys.

Genesys has more than 150 customers in India spanning BFSI, telcos, BPOs, etc. Indian businesses are already in various stages of moving to providing omnichannel customer service. Compared to other APAC markets, India ranks the second highest, behind China, in IoT-Enabled customer maturity.

Keith is hopeful of 50 percent revenue growth in India, as CX has become a top priority for the businesses in India with an increasing number of them embracing digital channels to improve their customer experience. The company is targeting customers from the enterprises and mid-market segment as well as government.

"AI and smart agents will play major role in the CX by automating some self-service conversations across voice and digital channels. In the similar way, predictive analytics will make them more contextual and personalized," said Sanjay Pai, VP & MD-India, Genesys.

Majority of the workforce of Genesys in India are based in Chennai and Hyderabad and focused on development activities of SIP servers, Reporting, Genesys Voice Portal, etc. Cloud provisioning, Software Testing and Learning & Development teams also co-exist with the R&D teams. The work these teams do is core to some key initiatives like Speech recognition, AI, and Analytics. The Hyderabad facility has got six patents in speech recognition.