Experian: Boardroom efforts to make customer experience a priority being hampered by rising costs, retention and bad debt

Francesco Nazzarri

Francesco Nazzarri

12 February 2019: New research shows that despite a determined drive towards improving customer experience, increasing trust and satisfaction, half of all companies across Europe, the Middle East and Africa (EMEA), continue to be challenged by rising costs of customer acquisition, cost-to-serve, retention and the impact of bad debt.

At the same time, four out of five CEOs readily acknowledge just how important data, analytics and AI also are to their growth. Over the coming year, these areas will be the focus of investments to enable faster, more reliable and better-informed decisions.

But businesses across the region admit their legacy technology and the inability to deliver consistent decisions across multiple channels continue to pose an ongoing struggle to improving their agility and customer experience. In fact, more than one in four (28%) admit they are unsure they can consistently offer friction-free experiences for new customers, while a similar number (26%) simply don’t believe they’re making the most of advanced analytics.

The findings emerged from a commissioned study conducted by Forrester Consulting on behalf of Experian. It includes insight from more than 700 senior decision-makers from across Europe, Africa and the Middle East (EMEA).

Francesco Nazzarri [pictured], Managing Director of Commercial Strategy for UK&EMEA at Experian, says: “It’s clear these are exciting times and they’re challenging times. But many business leaders realise that their growth is now reliant on agility and the ability to move at the speed of their market – or even faster. Success is dependent on a combination of scale, innovation, spotting and adapting to new opportunities as soon as they emerge. More...