CFOtech Asia logo
Technology news for Asia's CFOs and financial decision-makers
Story image

Singapore businesses fall behind in meeting customer expectations

Businesses must strive for exceptionalism when it comes to meeting customer expectations, according to Zendesk's CX Accelerator report.

However, just 7% of Singapore businesses are qualified as CX Champions those considered the highest standard-bearers meaning there are only a few organisations in Singapore delivering exceptional customer services. Currently, Singapore ranks 10th across the 13 global markets surveyed.

APAC organisations know they aren't quite meeting these rising expectations, with only 19% of Singapore businesses scoring very good on their ability to act on customer feedback, ahead of Japan (12%) but lagging behind South Korea (21%), Australia (31%) and India (58%).

Additionally, only 22% of Singapore businesses are quick on turning feedback into change - a sign that APAC organisations are too slow at addressing customer feedback. While similar to South Korea (22%), Singapore stays ahead of Japan (12%), but falls behind other APAC markets including Australia (31%) and India (58%).

No matter where a business falls on the CX maturity scale from Starters at the earliest stage of implementing CX strategy, or Emergers, Risers, and CX Champions sitting at the highest level of expertise the changes needed to stay on top are consistent:

  • Balance human and automation strategy
  • Integrate key data from critical apps
  • Evolve the role of CX

"In an increasingly tough economy, businesses have a challenge on their hands to stay agile and keep things running efficiently while meeting customers' demands in order to keep them coming back," says Jeff Titterton, chief operations officer at Zendesk. 

"Our latest research shows it's clear that success is dependent on engaging your customers in relationship-driven conversations, and investing in technology that enables your team to deliver nothing less than exceptional service, and make sure its all integrated across your business."

Wendy Johnstone, chief operating officer, APAC, Zendesk, adds, "During times of economic uncertainty, nothing becomes more important than the retention of existing customers. 

"More than ever, APAC organisations are recognising the importance of increasing customer loyalty through delivering exceptional customer service," she says. 

"That's why investing in CX will continue to be a critical driver of growth and success for organisations in the future. At Zendesk, we remain committed to partnering with organisations in the region to deliver a personalised experience that will exceed customer expectations."

Agents + AI = a winning combination

Customers are clear they want more control over how they engage with businesses, and organisations have a huge opportunity to invest in AI-driven solutions to empower their customers with quick resolutions. In fact, when compared to Starters, 44% more APAC Champions use a mix of chatbots and human representation when it comes to customer service channels.

According to the report:

  • APAC Champions report chatbots resolving 1.8 times more inquiries without human involvement than Starters
  • Among companies that use chatbots, APAC Champions are 45% more likely than Starters to cite its pre-configured logic and parameters, successfully helping customers to reach the right channel for their specific issue
  • 1.5 times more APAC Champions than Starters report being able to message asynchronously with users
  • APAC Champions are 64% more likely than Starters to be effective at keeping their online help centre up to date
  • "Where businesses need to focus is in how they balance between automation and the human element of the customer experience," says Johnstone. 
  • "This requires a deeper understanding of customer behaviours to place automation where it is most effective and provide agent support where it can have the greatest impact."

Mind the (data) gap

The data deluge is overwhelming business leaders, and they are still lacking meaningful insights into how to drive better, more personalised experiences for customers. Nearly half (47%) of Singaporean companies surveyed use between six and 15 apps to get a full view of the customer journey, with only one-quarter saying that they are very strong in delivering personalised experiences.

While many understand the need for integration, breaking down the silos continues to pose a challenge, even for APAC Champions who are 8.3 times more likely than Starters to use upwards of 16 apps. In fact, APAC Champions are 11.7 times more likely to report data fragmentation as a serious obstacle to delivering more seamless customer support.

Providing agents with the right information at the right time can help support teams better anticipate customer needs. Customer feedback can also help other teams act quickly to improve product or service offerings. In fact, better collaboration between sales and support teams can optimise customer engagement across all touchpoints, reduce churn, and build stronger relationships.

Evolving CX's role

According to the report, rethinking the role of support teams requires investing in training and tools to ensure agents have what they need to uncover leads and close deals. In turn, businesses will reap the benefits. The data proves this: 79% more APAC Champions than Starters are well-trained to look for sales opportunities during customer interactions. In fact, APAC Champions are 2.1 times more likely to have their CX engagements uncover new sales opportunities. However, as customer expectations rise, so does the pressure to continue to differentiate a product or service.

"The biggest changes businesses face to keep up with - let alone get ahead of - customers expectations are both operational and cultural," says Titterton. 

"The role of CX cannot be understated, and business leaders still need to not only prioritise their investments, but make them work well for their teams. We understand how daunting this can be, but the data underscores just how significant the opportunity is when you get it right," he says.

"As consumers keep raising the expectation bar, the way forward is to ensure businesses have the right knowledge, skills and technology to meet them."

Related stories
Top stories
Story image
Confluent reimagines data pipelines with Stream Designer
It will accelerate the shift to real-time with the industry's 1st visual interface for building, testing, and deploying data pipelines natively on Apache Kafka.
Story image
Sustainable IT
WQR: 72% orgs link quality engineering to sustainable IT
The report also highlights that 85% of organisations consider quality engineering pivotal in implementing emerging technologies into real-world use cases.
Story image
IT Automation
Intel hits key milestone in quantum chip production research
Intel demonstrates exceptional yield of quantum dot arrays, showing promise for large-scale qubit production using transistor fabrication technology.
Story image
Digital Transformation
Equinix invests in Indonesia with a $74m data centre
The centre will be strategically located near the largest internet exchanges to meet the country’s growing digital needs.
Story image
APAC orgs embracing Zero Trust Security, reveals Okta
Zero Trust Security helps organisations thrive in the era of hybrid work and increasingly sophisticated cyber threats.
Story image
New report highlights opportunities and challenges of Super Apps for banking sector
"Staying ahead of the game means predicting where tomorrow will take us, as well as recognising where things currently stand."
Story image
Distributed Denial of Service
Sysdig reveals a loss of $53 for every $1 cryptojackers gain
The 2022 Sysdig Cloud Native Threat Report breaks down supply chain attacks against containers and how geopolitical conflict influences attacker behaviours.
Story image
Sustainable IT
Equinix commits US$50 million to advance digital inclusion
Establishes the Equinix Foundation, an employee-driven charitable organisation, to advance digital inclusion through grants and strategic partnerships.
Story image
Disparate data causing headaches for A/NZ businesses
Gone are the days when developers could get away with merely producing code. Many are now expected to be accountable for their code, which should be ‘clean’, right up to deployment.
Story image
Virtual Private Network
BT enhances global Cardway portfolio with Mako Networks
BT has announced a significant enhancement to its Cardway portfolio of payment solutions following the signing of a global agreement with Mako Networks.
Story image
Gigamon named leading vendor in deep observability market
650 Group has published a report, recognising Gigamon as the leading vendor in the deep observability market for 2022.
Story image
Work from home
Jamf showcases new products to simplify and secure work
At the 13th annual Jamf Nation User Conference, the company shared how its continuous product innovation is helping organisations succeed with Apple.
Story image
BlackLine adds tax hyperautomation capabilities to its solutions
The extension to BlackLine's intercompany solutions comes in response to organisations facing increasing intercompany tax scrutiny globally.
Story image
Best practices for industrial cyber resilience
Operational technology (OT) security is gaining more attention than ever before, but sufficient understanding of what it takes to prevent breaches is still lacking amongst many organisations.
Story image
Artificial Intelligence
Fortinet advances AIOps to aid the hybrid workforce
"We’re continuing our commitment to AI innovation by delivering AIOps capabilities across our robust portfolio of enterprise networking technology."
Story image
IT Automation
Tech job moves - Adobe, Ambit, blueAPACHE, Cue & DC Blox
We round up all job appointments from September 26-,30 2022, in one place to keep you updated with the latest from across the tech industries.
Story image
Digital Transformation
How businesses can stay connected with their clients in a digital environment
Staying connected in a virtual world requires strong communication and collaboration, especially with many workplaces adopting a work-from-anywhere business model.
Story image
Commonwealth tackling rising cybercrime threat in Asia
Ransomware, identity theft, and virtual security attacks identified as growing threats to security and economic growth.
Story image
Revenue management
BillingPlatform improves offerings to foster customer revenue growth
BillingPlatform has enhanced its platform and products with a focus on helping customers drive revenue growth through improved CPQ functionality, new B2B digital commerce capabilities and expanding its payment integrations to include Stripe, Stax Payments and Adyen.
Story image
Workday expands skills cloud and announces new HCM customer
Workday has expanded its skills cloud service and has also announced that Busy Bees Learning has selected the company's HCM solution as part of an overall HR transformation. 
Story image
HashiCorp research shows organisations benefit from multi-cloud strategies
The survey highlighted the need for organisations to centralise and automate cloud efforts via platform teams in order to increase operational efficiency.
Story image
Trellix enables greater cyber resiliency with extended XDR platform
"Legacy SIEM technology has failed to modernise security operations. We are confident Trellix XDR fills this critical gap.”
Story image
Workflow Automation
NetSuite announces SuitePeople Workforce Management
Oracle NetSuite has announced NetSuite SuitePeople Workforce Management, a solution created to help organisations manage labour costs and profitability.
Story image
IT in Manufacturing
Five ways manufacturers can benefit from a purpose-built ERP
As the manufacturing world rapidly evolves to meet new challenges, many organisations are working to define a new roadmap to success.
Story image
Denodo targets mid-market with new subscription models
These new subscriptions will help mid-market companies to streamline data integration and accelerate speed to insights.
Story image
UiPath and Microsoft partner to empower best-in-class automation
"Together, we are helping customers realise and achieve the business value of automation at scale. We are excited to deliver substantial, integrated cloud offerings.”
Story image
Sustainable IT
Adobe surveys sustainability at work in Hong Kong employees
The top three sustainability practices are reducing paper usage (46%), digital document storage and management (43%), and curbing electricity consumption (37%).
Story image
OpenText reveals nastiest malware of 2022, with Emotet at the top
OpenText threat intelligence experts combed through the data, analysed different behaviours, and determined which malicious payloads are the nastiest.
Story image
Digital Transformation
NEC Corporation and Red Hat expand global collaboration
NEC Corporation and Red Hat have announced an expanded global collaboration to drive IT modernisation and digital transformation on Red Hat OpenShift.
Story image
Customer Relationship Management
NetSuite introduces CPQ to help organisations simplify sales process
NetSuite CPQ is the only native configure, price and quote solution built on the NetSuite platform. It works with NetSuite ERP, CRM, and eCommerce solutions
Story image
New FedEx report reveals biggest trends in eCommerce
The report shows that SMEs and consumers agree that there's room for further growth in the already booming eCommerce sector.
Story image
Swift successfully pilots its Securities View capability
The new capability significantly increases transparency in post-trade processing while preventing costly settlement fails; it will be widely available in 2023.
Story image
Amazon Web Services
Infor named Leader in 2022 Gartner Magic Quadrant for Cloud ERP
For the second consecutive time, Infor has been positioned as a Leader in the 2022 Gartner Magic Quadrant for Cloud ERP for Product-Centric Enterprises.
Story image
IT infrastructure
Kyndryl launches open solution, powered by co-creation
Kyndryl Vital is led by global teams of designers who work alongside customers and partners to define and solve complex problems with innovation.
Story image
IBM releases Transformation Index to assist cloud innovation
IBM has released its Transformation Index: State of Cloud, commissioned by the company and conducted by an independent research firm.
Story image
Data analytics
COVID-19 relief innovation takes 2022 SAS Hackathon crown
In COVID-19’s wake, more than 287,000 MSMEs joined JakPreneur, a collaborative government platform that links entrepreneurs and stakeholders
Story image
Artificial Intelligence
Exclusive: Uniphore shares how Conversational AI can be the key to business success
Conversational AI and Automation are vital tools to help further promote organisational cohesion and communication, and Uniphore is leading the charge.
Story image
Intel accelerates innovation with software-first approach
Intel introduced new services and tools in AI, security and quantum computing to help developers reduce time-to-market and increase performance and security.
Story image
MYOB provides efficiency boost with new inventory solution
Premium Inventory is an integrated solution that helps goods-based businesses improve efficiency, reduce costs and increase cashflow.
Story image
Network Management
Data is growing at breakneck speed, but are we optimising its value?
Data lies at the heart of digital transformation, as every digital touchpoint translates to a data point. In this digital-first world, data is being created everywhere today – at breakneck speeds.
Story image
Oracle NetSuite
NetSuite Launches Ship Central to improve warehouse operations
NetSuite WMS and Ship Central offer warehouse operations across SKUs, processes, and locations. NetSuite WMS eliminates manual processes