Each company has an average of 367 applications and software to carry out its daily activity. An excess of applications has negative consequences for the organization beyond the employee experience.
Employees spend nearly a third of their work week, some 2.4 hours a day, finding the data and information they need to do their jobs effectively. This is one of the consequences of the large number of Applications that they must manage and that, far from facilitating the work, contributes negatively to the productivity of the employees.
This is clear from a study carried out by Forrester Consulting, according to which, the waste of resources and attention span of employees is counterproductive in the current economic context, in which leaders seek to concentrate their technology spending and make their organizations run as efficiently as possible.
Companies with disconnected and inefficient working methods face a 24% drop in productivity
If changing the applications that employees had to deal with was one of the great drags on their productivityas they have traditionally pointed out, now the excess of applications seems to be causing worse consequences for organizations.
According to the Forrester study, companies with disconnected and inefficient work methods face a 24% drop in productivity. Ultimately, the disconnect also affects revenue, employee engagement, and the ability to innovate.
The renewal and purchase of applications, impacted by the economy
Undoubtedly, these consequences of application glut come at a time when buyers of technology for organizations have shown no signs of future major cuts in IT spending by 2023.
However, the forecasts managed by the consultancy suggest that these managers are showing interest in correctly sizing the technology they have and consolidating key suppliers.
Organizations are betting on longer sales cycles and delaying their purchasing decisions until 2023
Some vendors, such as Salesforce, say organizations are looking more closely at how much money they spend on software, which is leading to longer sales cycles and delaying purchasing decisions until 2023.
Likewise, another key point of the report indicates that, in the collaborative solutions market, organizations are looking for options for the consolidation of services. Responding to this trend, vendors are launching offerings with new features and product lines, many aimed at providing a central digital location where work gets done.
According to the data handled by Adyen, the new digital channels are experiencing a notable growth. Currently, sales through applications and social networks already represent 28%.
Along with the upward trend that continues to experience electronic commerce, it is also observed that the new digital channels are gaining more and more strength. Although 40% of sales in Spain continue to be made in physical stores, 32% are made through web pages and 28% through apps and social networks.
Specifically, 16% of sales in our country are made through applications, while 12% are carried out through social networks.
However, not all sectors are making their sales through these channels equally. Adyen’s study points out that the retailers in the hospitality sector are the ones that make the most use of social networks to market their products and services.
As Juan José Llorente, Adyen’s Country Manager for Spain and Portugal, points out, currently, 8 out of 10 Spanish companies are incorporating new digital channels to increase the participation of their customers.
“Almost 9 out of 10 companies already consider the journey of their customers through multiple channels as one of the main initiatives to apply”.
New digital channels with new forms of payment
Adyen’s study, for which 411 retailers in Spain and more than 1,096 consumers have been surveyed, also emphasizes the importance they increasingly attach to improving customer payment options.
To do this, expand payment options it is essential since customers want to pay where and how they want, in addition to doing it safely.
electronic wallets, or ‘ewallets’ are the payment option that most companies in the electronics sector choose, according to 83%. For their part, those that operate in the fashion sector prefer, in 85% of cases, to pay through an app.
Along with this, another key aspect is how companies are addressing the security of these payments. 64% maintain that they are adopting them to deal with possible fraud, while 63% have customer behavior identification systems and 56% indicate that they have identified new types of fraud.
However, given the complexity of managing online payments and avoiding possible fraud, experts point out the importance of having an intelligent financial platform to control risks and avoid security risks.
Retailers hope to take advantage of sales opportunities through new social channels this 2023
In this line, and before digitization that retail is experiencing, 74% of the companies that have participated in this study value, above all, risk control systems and applications. For their part, 50% consider other Technologys such as virtual reality or augmented reality (VR/RA) relevant for their businesses.
However, retailers will continue to innovate for the coming years. An innovation that will focus mainly on optimizing its Logisticsstock management, marketing and customer service, as well as in the business areas in which technology can make a difference.
Looking ahead to 2023, retailers hope to improve their delivery options to customers, as well as take advantage of sales opportunities through new social channels. In this sense, they hope to put new digital channels to boost customer participation, in addition to offering more payment options beyond cash and improving operations to reduce waiting times to pay.
According to recent research by KuppingerCole, the customer identity and access management market will continue to grow at the rate of recent years, reaching $4.55 billion by 2025.
For the KuppingerCole analysts, their forecast is that the Customer Identity and Access Management (CIAM) market experience a compound annual growth (CAGR) of 13.1% through 2025, when it reaches $4.55 billion.
North America is the largest market, holding 43.1% of the market share. It is closely followed by EMEA with a share of 37.8%.
These figures confirm the unstoppable growth that this market segment has experienced since, in 2020, CIAM’s revenues amounted to 2,960 million dollars.
By the end of 2023, CIAM market revenue will reach $3.86 billion
In 2021, this number increased to 3.25 billion, and the current figure is 3.58 billion as we move into the first quarter of 2023.
With all this, the forecasts that the firm manages for the end of this year is that revenues reach 3,860 million dollars, and exceed the mark of 4,000 million next 2024, when revenues are expected to amount to 4,170 million. .
In this scenario, KuppingerCole expects the Asia Pacific and Latin America regions to take the longest to adopt this technology, but expects to see significant growth in these regions in the near future.
Benefits of customer access and identity management
Customer identity and access management is the part of the IAM market (Identity and Access Management) broader, and products in this area are intended to address specific technical requirements faced by consumer-facing organizations.
Additionally, these solutions aim to address issues that differ from traditional business-to-employee (B2E) use cases.
CIAM systems offer users the means to register, associate devices and other digital identities, authenticate, authorize, collect and store information about consumers from a wide variety of domains.
Information collected by CIAM systems can be used for multiple purposes
These systems also differ from IAM systems in that consumer information often comes from multiple sources. unauthorized sources.
The information that customer identity and access management systems collect about consumers can also be used for multiple purposes, including resource authorization or marketing analytics.
Furthermore, it has an important role to play in regulatory compliance.
These are systems that have to manage millions of identities and process tens of millions of logins and other transactions every day, making CIAM service delivery based on SaaS be a common process.
With the concept of circular economy and sustainability, the need to extend the useful life of devices has become much more evident. Have you noticed that uptick in demand? What opportunities are you seeing in this regard?
Yes, definitely. We perceive a greater interest on the part of the end customer in repairing their devices and that translates into an increase in volume, although it is true that the failure rates of the products have improved a lot in recent years.
In addition, in January of this year, the new consumer regulations came into force, whereby any electronic device purchased after January 1 will have a 3-year legal guarantee. This regulation seeks to reduce electronic waste and promote sustainability, both objectives that we have at ICP Tech. Solutions.
This is going to generate a rebound in the demand for after-sales services and gives us a challenge to create services that support this circular economy.
Icp Tech.solutions are leaders in device repair and maintenance. What makes you hold this position? What sets you apart?
It is especially motivating to lead the after-sales solutions for devices in the sector and it is precisely for this reason that we demand more of ourselves every day in the search for excellence, process efficiency and continuous improvement. In short, we have a constant aspiration for excellence and innovation adapted to the needs of the ever-changing environment in which we live. ICP Tech. Solutions is an engineering company that seeks, through solutions applied to the reverse logistics sector, to provide solutions to all customer needs, providing continuous improvement that enhances their growth and brand within the sector.
You consider yourselves a technological partner rather than an after-sales service center. What are the most common demands from retailers and manufacturers?
Our partners and manufacturers demand agility, real-time information and comprehensive solutions. In such a changing market and where many ranges of products and such varied market niches coexist, it is essential to have real-time control of operations, integrate all solutions under the same node and achieve the greatest possible response agility.
These premises are what our main partners demand of us and are the basis of the ICP group, where information and process control is the key to continue improving them, finding new alternative solutions that increase satisfaction levels and comply the very diverse expectations demanded by the market.
Repurchase, insurance or SAT services. What other services would you like to incorporate into your offer or do you already have in mind?
There is a wide variety of services that we offer from ICP Tech. Solutions: Remote solutions and advice, multi-channel customer communication services via Call-Center, Email, SMS, video call for technical advice on remote solutions or communication, more and more chosen by clients, via WhatsApp, where they can solve any problem in a very close way and at the pace that the client needs.
We have incorporated warranty extension solutions, offering the customer that extra peace of mind at the time of purchase of their electronic device which, given the current socioeconomic environment, becomes essential.
“It is especially motivating to lead after-sales solutions for devices”
In addition, we have developed home assistance solutions seeking to bring the solution closer to the customer in any product range, avoiding having to do without an electronic device, such as a smartphone, for a certain time.
We cannot forget the diversification that we have carried out in recent months, obtaining important approvals to offer after-sales solutions in products such as TV, kitchen items, means of payment, or mobility.
ICP tips for 2023
One of the keys will continue to be innovation. We must continue to think about offering services that provide new solutions and continue to satisfy the needs of customers.
We will continue to bet on the centralization of supply chains and production points. This leads to the possibility of optimizing post-sale processes and optimizing services for different product ranges, taking advantage of the synergies that occur between them: control systems, instrumentation, technical knowledge, etc.
“One of the keys will continue to be innovation”
In particular, we will maintain our commitment to the internalization of our services, offering global solutions at a European level, supported by our offices in the UK, France and Portugal. More and more clients demand global solutions from us. It is a bet that we made years ago establishing these headquarters and we are seeing that ICP is going to gain significant weight in Europe in the coming years.
Finally, one of the points in which both ICP Tech. Solutions and its partners are having an impact is the search for customer satisfaction in everything related to the after-sales service: multi-channel advice (CallCenter, WhatsApp, video call, etc.) , recommendations for the use of products, monitoring of the service executed once it is finished, buyback, staging services, etc. This becomes essential in a market that is increasingly demanding information and product knowledge.