SaaS technologies take lead in driving digital transformation

We are living in a digital-first era where our lifestyles are defined by the rapid pace at which technology is evolving. Everything can be managed with a few taps on our smartphones, from ordering a taxi to grocery shopping. Customers in emerging economies like Indonesia are getting more comfortable with a variety of digital solutions to address their daily needs.

As a result, the tech-savvy millennials, who form the largest generation group in the Indonesian labor force, demand better solutions and faster self-development opportunities. But the business world, including traditional industries like banking and insurance, has not been able to offer the one-tap solutions required to keep pace with changing expectations.

Technology has transformed the global banking, financial services, and insurance (BFSI) industry over the last few years. From big data to cloud computing and artificial intelligence, enterprises are taking advantage of tech tools to extract valuable insights to support the decision-making process, prevent frauds, improve operational efficiency and enhance end-customer experience. But such priorities are only making headway now in Indonesia as a result of the pandemic.

Take, for instance, an insurance company with an army of sales teams. Before the COVID-19 outbreak hit Southeast Asia in January 2020, sales representatives would interact with hundreds of potential clients in a month, advise them on what financial products suit them best, and answer their objections in a manner that makes potential customers feel secure about their money. The onset of COVID-19 entirely turned this process on its heels, and agents were grappling to come to terms with virtual engagement and remote work.

And since the world is still struggling to control the spread of new coronavirus variants, a company might see declines in productivity as sales teams need to limit their mobility due to restrictions of public gatherings, including networking events and site visits. The company has no choice but to leverage digital management and collaboration tools to maintain engagement with clients and business partners while employees work remotely for an extended period.

The pandemic has highlighted an urgency to accelerate digital transformation at the enterprise level. Adopting the right cloud-led tech tools can help businesses and employees continue to thrive under pressure.

Sales engagement platforms that help sales teams manage day-to-day activities remotely and provide them with performance management analytics have ramped up in demand. Companies like AIA, Generali and AXA were quick to adopt the platform for enabling their teams to follow through on needs assessments, claims, collections, or renewal processes and reassure customers of uninterrupted services.

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