RL - Retail

6 axway.com Moving to customer experience networks CX networks represent a key enterprise and technological movement in which omnichannel plays just a small part. According to IDC and Axway*, a customer experience network enables an organization to connect and embrace co-innovation from all entities a customer may encounter along the purchasing journey. Customers, employees, business partners and suppliers collaborate and co-innovate to deliver improved, more holistic shopping experiences. CX networks are a mechanism for creating new innovative revenue streams and making your enterprise "fit for business purpose." As the world enters a new era of the connected economy, CX networks will be essential to establishing a sustainable competitive advantage, increasing business value, and defending against digital disruptors. So it's no wonder that CX networks have taken their place at the top of board-level agendas as large enterprises aim for higher brand value and strategic differentiation. Many retailers have invested their time and capital into establishing omnichannel communication and data connectivity, as they should. But few have taken it to the next step: CX networks. What could they be waiting for? Perhaps it starts with a basic understanding of the three foundational elements that propel CX networks beyond omnichannel. 1. CX networks embrace all internal and external enterprise stakeholders in an "omni" kind of way — but in a much more strategic, holistic, meaningful, and coherent way than simply omnichannel communications. 2. CX networks enable enterprises to develop an ecosystem of internal staff, external business partners, customers and other stakeholders to provide communication, collaboration, and co-innovation aligned to a central business purpose. 3. The synergistic value created by CX networks is greater than the sum of its parts. It will provide you with the means to crack the code to deliver superior customer experiences. CX networks. What you'll experience. • Continuously anticipate and adapt to changing market conditions and customer expectations • Quickly design and introduce new products and services to differentiate from competitors • Easily collaborate with new stakeholders across value chains that were not accessible before • Efficiently develop, launch, and industrialize new business models to capitalize on new revenue streams and grow bottom line • Proficiently engage in a two-way flow of information and communication, a central component of CX networks. This means that manufacturers, distributors, suppliers and partners will need to integrate their respective data sources to be able to understand and serve the customer most efficiently. Omnichannel is only a small part of CX networks Omnichannel * IDC InfoBrief, sponsored by Axway, The Role of Customer Experience Networks in Delivering Value-Based Digital Transformation, May 2017

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