CX Technology in Enterprise Software Gains Prominence

Hello and welcome to Protocol Enterprise! Today: why customer experience technology has become such an important part of the enterprise software landscape, why companies can’t expect multi-factor authentication to lock down their systems and fundraising activity the latest in enterprise technology.

The customer is always right

The rise of software as a service has dramatically changed the experience of being a customer and the expectations those customers have of their vendors, and coming out of a two-year pandemic, there is no there is no turning back.

“We are in an experience economy, consumers are very fickle”, said Tony Bates, president and CEO of contact center software provider Genesys. The pandemic has only accelerated these forces, unleashing lasting effects that will permanently alter the future of customer experience technology. But how do companies really deliver a good customer experience?

The answer involves more than just migrating to the cloud and updating technology stacks, according to experts, product managers and customers themselves. It requires a new mindset and a complete organizational shift in thinking.

  • About 10-15 years ago, the primary way many customers interacted with sellers was through support agents located in huge overseas contact centers.
  • The focus then was on increasing efficiency, reducing call times and getting customers to and from the door.
  • But because “the costs of switching for customers and employees are approaching zero,” SaaS vendors need to deliver great experiences in order to drive customer retention, said Brad Anderson, president of products and services at Qualtrics.
  • “What probably would have taken another 20 years has certainly been accelerated by the pandemic,” said Simonetta Turek, chief executive of Twilio Flex.

With such expectations, companies have their work cut out for them. if they want to unlock leading customer experiences. Not only do businesses need to upgrade their technology stacks to manage the need for faster and more efficient customer interactions, but they may also need to reengineer their entire customer-facing operations.

  • “One of the biggest trends right now is that there’s a consolidation where CX leaders are saying, ‘I need all my customer experience data to be in one place,'” Anderson of Qualtrics.
  • As customer interactions become increasingly digital, customers need to be able to easily navigate a company’s website, find support articles, or contact the sales team.
  • “It’s been proven time and time again that level of effort is actually more predictive of loyalty than anything else,” said John Ball, senior vice president of customer workflows at ServiceNow.
  • But it’s critically important that the focus on customers comes from the top of an organization, said Lara Caimi, customer manager and partner at ServiceNow.

Businesses will really need to put customers first succeed over the next few years. This means that forward-looking companies will need to migrate to the cloud, embrace emerging technologies, and even restructure business departments.

  • “The situation we’re talking about here is not a nice situation, it’s a ‘burning roof’ situation,” said Sameer Patel, director of marketing and solutions at SAP CX.
  • Companies unable to deliver will simply be left behind by new market entrants built around nimble technology and an innate understanding of those customers’ needs.

Read the full report hereand consult the rest of our special customer experience file in the business.

— Aisha counts (E-mail | Twitter)

A CAPITAL ONE SOFTWARE MESSAGE

Capital One’s embrace of modern cloud and data capabilities has led us to create tools to operate at scale in the cloud. Capital One Software markets these solutions to help accelerate your journey to cloud and data. Get started with Slingshot, a data management solution for Snowflake customers.

Learn more

The AMF is not a miracle solution

It remains unclear whether the breach of Uber’s internal computer systems, revealed Thursday, was more than embarrassing to the company. But for businesses everywhere, the attack should serve as yet another reminder that some security controls we once thought were a panacea are no such thing.

Specifically, multi-factor authentication. This security check, which requires a second form of verification for a user to connect to a corporate network, is considered essential to keep hackers out. But lately hackers have found clever ways to beat it.

In the Uber breach, the method used by the hacker appears be what is known as an “MFA fatigue” attack: the attacker (impersonating someone from IT) sends repeated login notifications to an employee until the employee approves it . Basically, the attacker exhausts the employee. But once approved, the striker is in.

“We thought MFA was still the silver bullet,” said Bryan Murphy, senior director of consulting and incident response services at identity security provider CyberArk. “Now we’re starting to see attackers finding ways around that.”

On Monday, Uber said it was a contractor whose account was compromised, “likely” by buying the company’s Uber password on the dark web. The company confirmed that the contractor allowed the attacker to circumvent the MFA requirement by approving a multi-factor login request.

Uber said it does not appear the attackers, which it says operated as part of the Lapsus$ group, were able to access customers’ personal data or make changes to its source code.

Notably, there is a form of MFA that is still considered “unphishable”. Hardware security keys that comply with the latest authentication standard, known as FIDO2, are a second must-have factor as they require the user to physically touch the key. Cloudflare, which provides its employees with YubiKey hardware keys, said attackers in a recent phishing campaign were unable to circumvent its MFA through use of the keys, preventing the company from being hacked. .

—Kyle Alspach (E-mail | Twitter)

Financial corner

Atlas raised $200 million to create human resource management software.

Rapidly raised $100 million to create software for retailers.

Xeneta raised $80 million to provide real-time analytics on ocean and air freight rates.

Spicy raised $75 million to help businesses save money by automatically adjusting cloud usage.

— Aisha counts (E-mail | Twitter)

Around the company

Zendesk shareholders approved $10.2 billion in private equity redemption after several years of uncertainty.

DirecTV’s NFL streaming service went down for the second week in a row, which doesn’t look great when tech powerhouses like Google and Apple plan to resume service.

A CAPITAL ONE SOFTWARE MESSAGE

Capital One’s embrace of modern cloud and data capabilities has led us to create tools to operate at scale in the cloud. Capital One Software markets these solutions to help accelerate your journey to cloud and data. Get started with Slingshot, a data management solution for Snowflake customers.

Learn more

Thanks for reading – see you tomorrow!