The application of artificial intelligence (AI) and machine learning (ML) to business computing will have a profound impact on white collar professions. This is especially true in heavily rules-based functions such as accounting. Companies recognize the transformational potential of AI and ML, but the progression and pace of the adoption of these technologies is unclear. Some applications of AI and ML are already in use but others are a decade or more away from replacing human tasks.
A few years ago, we carried out benchmark research into customer service best practices. A key element of the research was to compare the approaches of the nearly three-fifths (58%) of organizations that described themselves as very customer-focused and the remaining two-fifths (42%) that are not so focused on their customers.
At the recent Zuora Subscribed17 London event, Founder and CEO Tien Tzuo took about 10 minutes to demonstrate that over the last 12 months the subscription economy has grown considerably and assert that Zuora is committed to supporting organizations that make the transition to such a business model. The numbers Tzuo presented were impressive but more striking still was the understanding that emerged during the event and at a lunch for analysts of the nature of the transition companies are going through: software companies moving from on-premises to cloud-based models, a major industrial vehicles-for-hire company moving from renting out machines to providing subscription-based services so the organization hiring the vehicles knows exactly what the machines are up to and how to get best value out of them, a car manufacturer moving to renting cars on a subscription basis based on miles driven, a utility company increasingly automating people’s homes, and a real estate firm providing access to legal advice and mortgage experts as needed.
Continuous planning is a term Ventana Research uses for a high participation, collaborative, action-oriented approach to planning built on frequent, short planning sprints. This enables organizations to enhance the accuracy of their plans because refinements are made at shorter intervals. Short planning cycles enable companies to achieve greater agility in responding to market or competitive changes. “Continuous” also means continuous across the entire organization – planning as an ongoing collaborative dialogue that brings together finance, line-of-business managers and executives. And because it’s high-participation planning and not silo-based, companies can plan with greater accountability and coordination in their operations. This ongoing dialog tracks current conditions as well as changes in objectives and priorities that are driven by markets and the business climate. Continuous planning promotes a forward-looking mindset in planning and reviewing that’s focused on performance improvement.
Fra Luca Pacioli, a 15th-century Franciscan friar living in what’s now Italy, is credited with codifying double-entry bookkeeping, which is the foundation of accounting. Pacioli, a polymath, was well acquainted with his contemporary and fellow polymath Leonardo Da Vinci. So, given they were at times collaborators, it’s fitting that one of the most important applications of SAP’s Leonardo technology will be in helping to disrupt finance and accounting organizations in corporations.
A lot is being written and said about the omnichannel customer experience and the role contact center agents play in providing such experiences. From the customer’s perspective, I think it boils down to four things: that the interaction is easy, personal to them, within the context of the relationship and previous interactions, and consistent no matter with whom or what technology they interact. From the agent or user’s perspective, it should be easy to find the information needed to resolve the interaction to the customer’s satisfaction, and he or she must be empowered to resolve any issues that arise.