Are fintech companies immune to change? Think again says Fredrik Bergström in a roundup of key talking points at the MCP Nordic conference.
Did you notice something a little different this morning while waiting in line for your usual Cinnamon Latte? Here’s my guess: instead of paying with a card, the 20-something student in front of you at Starbucks or Espresso House just scanned her smartphone and, within a second, was on her way with a coffee and a mini-muffin to go.
“Hey, that’s cool!” it made you think. “How does it work?”
Firstly, you should be aware that the young person in the line has probably been paying for her coffee this way for months. And yes, it may well make you feel hopelessly left behind. Secondly, there was more involved in the transaction than money, coffee and a muffin: she got a 10% discount and loyalty points.
Now, let me take a moment to explain what’s really going on.
Cargo handling solutions and services provider Kalmar, part of Cargotec, has chosen Tieto as its partner in realising a worldwide spare parts eCommerce and service portal. The new solution is built with SAP Hybris technology and it will replace Kalmar’s current eCommerce system.
- This tool is for our customers. They will be provided with a modern, user-friendly experience and an access to well targeted and relevant content to further improve their operational efficiency. The new tool will boost our digital transformation and future online sales. We are confident with the choice of Tieto, as they have a wide experience in digital commerce and a deep knowledge of the SAP Hybris platform, says Seppo Heino, Vice President, Parts and Logistics at Kalmar.
The SAP Hybris eCommerce platform will be integrated into Kalmar’s enterprise resource planning and background systems provided by companies such as SalesForce.
- This is a natural continuation of our long partnership with Kalmar. As a part of Tieto’s Industrial Experience offering, we can help Kalmar in a wider sense in the development and management of the digital customer experience. The manufacturing industry and digitizing the customer experience in a B2B context for online stores are important for us, and our aim is also to grow in these areas. This cooperation will enhance our reputation as the leading operator in the field, says Jaakko Hartikainen, Head of Customer Experience Management, Tieto.
The product range of Tieto covers, in addition to the realisation of eCommerce, field service tools, mobile services, analytics, customer and product information management, as well as customer service, tools, both integrated and as whole concepts.
Tieto’s Industrial Experience (https://www.tieto.com/industries/manufacturing/tieto-industrial-experience) solutions offer an all-encompassing approach to the digitalisation of the customer journey for B2B companies. Combined with the multi-channel digital commerce solution experience of Smilehouse (https://www.tieto.com/news/tieto-acquires-smilehouse-drives-customer-exp...), acquired by Tieto in December 2015, Tieto is able to offer comprehensive tools for managing the digital customer experience.
For further information:
Head of Customer Experience Management, Tieto
Kalmar provides cargo handling solutions and services to ports, terminals, distribution centres and heavy industry. We are the industry forerunner in terminal automation and energy-efficient container handling, with one in four container moves around the globe being handled by a Kalmar solution. We improve the efficiency of your every move through our extensive product portfolio, global service network and solutions for seamless integration of terminal processes. www.kalmarglobal.com
Kalmar is part of Cargotec. Cargotec's (Nasdaq Helsinki: CGCBV) sales in 2015 totalled over EUR 3.7 billion and it employs over 11,000 people. www.cargotec.com
Tieto aims to capture the significant opportunities of the data-driven world and turn them into lifelong value for people, business and society. We aim to be customers’ first choice for business renewal by combining our software and services capabilities with a strong drive for co-innovation and ecosystems. www.tieto.com
It stood out on the second slide of my colleagues sales presentation: “User experience is the key factor when a customer decides which service they use again”. I was taken aback.
How often do we hear that the cornerstones of customer loyalty are the ’wow’ experiences and making the customer happy? Isn’t good user experience almost something self-evident? Bad service gets people’s emotions fired up, but we return to a good service automatically. Or why do we then go to the same local shop and use the services of the same pharmacy, book shop, clothing store or doctor’s practice year after year?
- Digital strategies
- New business models
- Industry consulting
- Transformation planning and roadmap
- Project and programme management
- Technology consulting
- Concept design
- Service and CX design
- UX design
- UI design and testing
- Web site renewal and content management
- Digital commerce (B2B/B2C)
- Digital, mobile and social marketing / Marketing automation
- Digital analytics and customer insight
- Customer analytics and conversion optimisation
- Continuous hosting services (SaaS, Hybrid, On-premise)
Our services cover the full customer journey, enabling a seamlessly rewarding customer experience from vision to value.
The new site is a major step in Indiska's efforts to give customers a better and more adaptive online experience that keeps pace with the increased digitalization of the retail industry. The new site will also enable Indiska to provide their customers with more personalized offers and service.
- E-commerce is evolving and changing the roles of both the traditional physical store and online shopping. Today's customers want the same experience from every channel, including mobile. With our new site we are taking a step toward becoming a strong Omni-Commerce player, says Niclas Hemminger, CDO & Head of Ecommerce at Indiska.
The site includes a completely new design that provides the same online shopping experience for customer both on the web and on the mobile.
- Offering a great mobile experience is critical to staying relevant with our customers as more than half of the traffic comes from the mobile channel and we want to make it easy to both browse and checkout. With the new solution, we believe we have taken a huge leap forward, says Niclas Hemminger.
The new Indiska.com online shop is built by Tieto. The platform upgrade is powered by a newer version of SAP Hybris that better meets the demands of E-commerce 3.0 and the retailer's increased focus on Customer Experience Management (CEM).
Tieto strengthened its position as one of the leading Nordic players in digital CEM with last year's acquisition of Smilehouse, the largest Finnish solution provider of Omni-channel commerce. Smilehouse is one of the most experienced SAP Hybris providers in the Nordics, and the cooperation with Indiska highlights the continued growth of the Tieto Retail Experience concept within the Swedish market.
- This project shows how the combination of Smilehouse’s expertise within high-volume eCommerce and our market-leading CEM solutions can enable retailers to take their online sites to the next level. We look forward to building a long-term partnership with Indiska and continuing to develop their strategy for improving the digital shopping experience, says Jaakko Hartikainen, Director, Customer Experience Management at Tieto.
For more information, please contact:
Jaakko Hartikainen, Director, Customer Experience Management, Tieto
Phone: +35 844 3500445 e-mail: Jaakko.Hartikainen@tieto.com
Fredrik Bergström, Principal Consultant, Customer Experience Management, Tieto
Phone: +46 (0)72-503 51 10 e-mail: Fredrik.Bergstrom@tieto.com
Tieto aims to capture the significant opportunities of the data-driven world and turn them into lifelong value for people, business and society. We aim to be customers’ first choice for business renewal by combining our software and services capabilities with a strong drive for co-innovation and ecosystems. www.tieto.com.
Indiska Magasinet AB is a Swedish retail chain established in 1901 that sells a unique blend of fashion and interior with your own style, Bohemian Modern. Everything is designed in Stockholm by people who love India. INDISKA currently has 91 stores in Sweden, Norway and Finland. www.indiska.com
Oras, which is known for its washbasin and shower faucets, purchased Germany-based Hansa in 2013, thus establishing Oras Group. In order to create a highly functional Group, the companies' procedures had to be standardised. As part of a larger change initiative, Oras Group has implemented a Product Information Management (PIM) project to combine the product information of the two brands into the same system as well as to harmonise the product information management processes of the two organisations.
Tieto delivered to Oras Group modern and easy-to-use inRiver PIM system, where product information is collected from ERP -system and other basic product information systems.
"The user interface is extremely user-friendly. People working in different countries clearly see product information, language versions and links. You can almost touch the material," says Suojanen.
The new system has impacted the employees' daily work. The amount of manual work decreases, for example, when product lists and selections are updated automatically into the customers' systems. All product information can now be processed in one place following similar procedures, which also benefits marketing.
"We always modify basic product information from the point of view of marketing. New texts, descriptions and videos are automatically updated into all materials containing product information. This increases transparency for our customers and within the company," says Oras Group's Digital Marketing Specialist Samuli Holmala.
A well-managed PIM project where everybody was up to speed
During the PIM project's first phase, which lasted for about six months, Tieto analysed the type and origin of Oras Group's product information and created a product information model for the system based on it. Once the foundation for product information had been established, the next steps were technical implementation and deployment. The project went very well, as testified by high customer satisfaction (3.8/4).
"During the project, Tieto led us where we needed to go. They were always in control of the project and were able to keep up to speed also those of our personnel who are not so well-versed in IT," says Holmala.
In the future, Oras Group will add new modules to the PIM system, for example, to manage product information and price lists on the websites of both brands through the system as well as to schedule marketing campaigns. New product information channels will also be added, which is a critical factor for getting ahead of the competition.
"We save time as we can manage our marketing campaigns better than before. Units in different countries can see the work of other units. Therefore, the information flow no longer requires extensive internal communication," says Holmala
Caption: Samuli Holmala, Kari Suojanen and Mika Malo from Oras Group have been satisfied with the new product information management system, which has boosted work efficiency and increased transparency for customers as well as within the company.
Oras Group is the market leader for domestic sanitary fittings in the Nordic countries and a leading company in continental Europe. The company's mission is to make the use of water easy and sustainable. The Group has two strong brands: Oras and Hansa. Oras Group is owned by Oras Invest, a family company and an industrial owner. http://www.orasgroup.com/
Oras Group was established in 2013 with the merger of Oras and Hansa. Oras Group wanted to standardise its procedures and boost work efficiency by combining the product information of the two brands into the same system. Up-to-date product information constitutes a competitive advantage.
Tieto delivered to Oras Group modern and easy-to-use inRiver PIM system, where product information is collected from ERP -system and other basic product information systems. The project consisted of four phases, analysis, product information model construction, technical implementation and deployment.
Thanks to up-to-date product information, customers are more likely to choose Oras' products, which brings a competitive advantage. Shared and automatically updated product information enables Oras Group to save time and money as the amount of manual work decreases and information management is simplified. It is now easier and faster to manage marketing campaigns and enhance basic product information for marketing use.
Marketing Director Joni Tikkanen develops the Elo brand in bright yellow in social media. Use the hashtag #elokehittää to monitor the progress of XHub and join in on the conversation.
Every company is currently thinking about digitalization – what it is and how best to implement it in their field of business. The fast-paced modern world demands new kinds of innovation from companies. There is a constant need to develop digital services that take into account the special needs of customers.
The pension insurance company Elo began to develop digital service models and approaches for well-being at work with the Tieto Experience Hub innovation programme (XHub). XHub is based on fast innovation, the testing of ideas and validation by end-users. “XHub is an interesting programme. It combines two things: solving practical issues and finding a new way of development. At the same time, it allows us to see how we can be agile as an organisation,” Tikkanen describes.
Innovation through networks and open dialogue
“XHub supports innovation through networks and open interaction with Elo customers. This makes the development more efficient and ensures that the new services meet the needs of the users. Furthermore, we encourage Elo to step outside their comfort zone and recognise new business models from outside their sector as well,” says Business Consultant Fanny Vakkila from Tieto.
The XHub programme stages can include, for example, innovation workshops with new partners, design projects, service design and the discovery of prototypes through hackathons.
“Everything is based on trials and receiving immediate feedback. If something doesn’t work, we don’t hesitate to change direction. This lets us now early on whether the idea is good and whether there is an actual need for the service,” Tikkanen describes.
Tieto experts have directed the development and the new working method. Furthermore, Tieto has compiled a network of different operators to innovate together with Elo.
“Tieto has managed to find good people with vision both from technology and digital services. Our operation has become faster, as the partners understand our field,” Tikkanen states.
Services promoting well-being at work for entrepreneurs
The development of digital solutions was initially concentrated on well-being at work, and then, as the XHub programme progressed, the focus shifted to Elo’s business customers. In terms of the number of insurance policies, Elo is the largest pension insurer of entrepreneurs in Finland, so this new solution will serve a great number of customers. Digital services help entrepreneurs as they can be used in the evenings or at weekends, when Elo cannot offer personal customer service.
“We have received positive feedback on our personal service, so it is important to figure out how to get our digital services to the same level,” Tikkanen points out.
According to Tikkanen, the participation of end-users, i.e. entrepreneurs, in every stage of the development has been important. Furthermore, XHub has combined different sectors of business within Elo.
“Within the company, XHub has been a valuable project. It passes through the entire organisation and combines well-being experts, IT and business development. Everyone has been excited about the new approach and learned a lot,” Tikkanen explains.
“It has been a treat to follow Elo’s journey in the XHub programme. Their courage and enthusiasm to try out new working methods has been an inspiration to the entire XHub team,” Vakkila says happily.
Mutual Pension Insurance Company Elo
Owned by its customers, Elo is a pension insurance company that takes care of the statutory pension insurances of its customer company employees and entrepreneurs. Elo is the largest pension insurance company in Finland: a third of all Finnish companies and over 40% of entrepreneurs have chosen Elo to manage their pension insurances. Elo is responsible for the future pensions of around 500,000 employees and entrepreneurs, and takes care of 210,000 pensioners and around €20 billion worth of investments.
The modern world demands Elo to provide digital services that benefit customers. The development of these services has traditionally required a great deal of time and effort. There was a need to develop a faster working method.
The Tieto Experience Hub innovation programme discovers, tests and validates new ideas and solutions together with business partners and end-users. Within the programme, Elo began to develop digital well-being at work services for its business customers.
Assuming a new and more agile working method helps Elo to develop concrete digital services for its customers. Fast innovation and testing of ideas with end-users weeds out bad ideas and supports the establishment of a positive customer experience.
Tieto publishes a new report with HUI Research, the second in the line of outlook reports: Digitization and integrity - In search of the balance between cool and creepy.
Digitialization has had a huge impact on the retail sector over the past years and it´s a trend that only seems to continue. With digitaliization comes opportunities that gives retailers access to more personal information about their customers.
But where goes the line of what the consumer considers to be acceptable or even beneficial versus uncomfortable or even offensive when it comes to how companies use customer information?
Download our study which investigates Customer Experience Management (CEM) within the finance industry in the Nordic region, with emphasis on the generic CEM maturity and development actions on digital CEM. 98 Finnish, Swedish and Norwegian decision makers within Finance were interviewed in this quantitative study.
"While many financial services providers have worked hard to make their services available via digital channels, there are still some persistent gaps in their communications with customers. Our survey, for instance, found that only 16 per cent of respondents were active on social media, even though we know that more and more of consumers’ decisions are made based on information in uncontrolled channels."
Download our white paper and read how to create a digital customer experience in retail sector. We concluded over 200 Nordic retail sector decision-makers in Finland, Sweden and Norway to gain insights into their firms’ digital CEM challenges, pain points.
"Interestingly, around 55 per cent and 70 per cent of Norwegian and Swedish firms respectively reckoned that digital CEM was key to increasing current customer spending, compared to around ten per cent of respondents from Finland."