Digital Service Platform is one of the notable trends which is followed by many of the companies as a part of the widespread COVID-19. It is a simple concept, yet a powerful instrument in digital innovation. They are based upon modern cloud technologies.
Due to the pandemic situation, the Aditya Birla Capital Limited recorded over four million customer interactions through digital service platforms. They are witnessing a two-fold jump when compared with the last year in the same period. The digital interactions were made through various platforms like WhatsApp, Websites, chatbots, and using various other Apps in the last three months due to the impact of the pandemic.
The Chief Executive of Aditya Birla Capital Ltd Mr. Ajay Srinivasan said that “Digital enablement to create a superior customer experience throughout the customer journey has been a key part of their agenda and that enabled them to proactively transform their customer journey to being hundred percent digital during the lockdown period’’. The lockdown made an impact on a shift in demand for zero contact and paperless purchase options. Everything is going to be digitalized soon. Some areas of business like Non-Banking Financial Corporations and Mutual Fund businesses have been one of the first in the industry to launch video KYC for its customers.
In the case of Aditya Birla Capital Limited, they were on board 90 percent of their customers in the FY20 through digital channels whereas, in FY19 it was only 72 percent. Over the last year, the subsidiaries of ABDL have significantly tried to ramp up their digital services across Websites, Chatbot and, WhatsApp to ensure availability of over 94 percent of their services online, as compared to about 71 percent last year.
Digital service platforms create markets of enormous scale and efficiency and also enables collaboration between companies from different industry sectors that can result in the conception of entirely new products and services. This system can be used to improve productivity and to develop new kinds of services by integrating solutions from different industries. It also highlights the potential opportunities to introduce digital platforms that enable the flow of information across isolated cities and sector-specific information systems, which would facilitate the efficient use of resources.
People are more interested in Digital service platforms because they have various advantages with it among their busy life schedules. New platforms also will emerge to support the monetization of the data generated by the billions of connected devices in operation around the world.