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IoE Can Help Banks Regain Customer Trust by Delivering Better Advice and Mobile Services

In years past, a visit to the neighborhood bank branch often featured face-to-face meetings with a trusted advisor who would guide customers through their most challenging financial journeys — often over a cup of coffee. Today, many banks have ceded that privileged position of trusted advisor. While banks have made great strides in using technology to cut costs and streamline transactions, customer experience and engagement have suffered.

In a Cisco survey of 7,200 bank customers in 12 countries, 43 percent of customers said their primary bank does not understand their individual needs. As a result, many respondents feel that their choice is between bad financial advice or no advice all. Moreover, nearly one in four bank customers intend to choose another provider for their next financial product or service. Increasingly, that provider could be a non-bank such as Apple, PayPal, or a retailer. Four out of five customers would trust a non-bank to handle their banking needs.

The Advice Advantage: How Banks Can Close the ‘Value Gap’ and Regain Customer Trust from Cisco Business Insights

Clearly, the perceived value that customers receive from banks is declining, along with their trust in banks to represent their interests. Banks are seen as commoditized — and replaceable — providers of transactions. Meanwhile, in the wake of the financial crisis of 2007-2008 and some well-publicized banking scandals, banks’ “trusted advisor” status has suffered. Moreover, it is easier than ever to switch to a non-bank that customers believe has a better understanding of their needs.

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Cisco publishes results of the New SAP Concurrent Benchmark

Cisco is the first organization to publish a result for the new SAP Concurrent Benchmark

Cisco is the first organization to publish a result for the new SAP Concurrent Benchmark and have it certified by SAP on behalf of the SAP Benchmark Council. The benchmark allows vendors to demonstrate how well their SAP environments work side by side in a shared environment. Getting a new benchmark running and tuned can be difficult for some vendors, but because the Cisco Unified Computing SystemTM (Cisco UCS®) is a platform built for virtualization we were the first to demonstrate results—and we did it all using virtualization with Microsoft software: the operating system, the database management system, and the hypervisor.

Recently, the SAP Benchmark Council created a new category of concurrent benchmarks that allows benchmarking of multiple SAP dialog applications
running concurrently using shared resources—in our scenario, on a single server. The benchmark rules allow the use of any supported partitioning and isolation technologies, including hypervisors, hardware partitioning, and operating system containers. With a benchmark designed by SAP to measure the performance of these environments, we now can make objective comparisons between the same SAP applications running on bare metal or in concurrent environments with results certified by SAP.

Benchmark Results

Not only did Cisco publish the first- ever results on this new concurrent benchmark, but the results are remarkable. Comparison of the results with the results for the same software configuration running on a bare-metal server shows that the penalty for running in a virtualized environment was only 6.6 percent in terms of benchmark users, and only 6.7 percent in terms of SAP Application Performance Standard (SAPS) score.

With the Cisco UCS C240 M4 Rack Server powered by the Intel Xeon processor E5-2600 v3 product family, Cisco supports a total of 14,975 SAP SD users or a total SAPS score of 81,827. This result is excellent for virtualized environments and is further evidence that when you choose Cisco® servers and a complete Microsoft software stack, you have access to outstanding SAP performance.

Conclusion

Many organizations and SAP administrators prefer to run their landscapes on Microsoft software stacks. This first-ever SAP Concurrent Benchmark result shows just how easily you can incorporate virtualization software from Microsoft to add
more flexibility to SAP application deployments with little performance impact.
Now you can use our SAPS score certified by SAP on behalf of the
SAP Benchmark Council to estimate your capacity on Cisco UCS running Microsoft software and run all your SAP landscapes in a shared environment with higher utilization rates and with less infrastructure.

 

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Digital Marketing Makes the Marketers of the Future, the Marketers of Today

I might have wrapped up my blog series on the marketers of the future back in October, but digital marketing is hotter than ever. We’ve only just begun to explore the frontier of digital marketing and it continues to drive innovation in the marketing space. With that in mind, I wanted to spend a little time with you before we really get ramped up for this year’s Marketing Velocity event to talk about how digital marketing has changed the traditional marketing landscape, and a little about what has changed since last year’s event in Chicago.

Before we start, however, if you want a refresher on all the super heroes we discussed at last year’s Marketing Velocity, just review my blogs on each here:

  • Wonder Vision – The power to see what no one yet can see
  • Alchemist – The power to blend art with science in a way no one can ignore
  • Super Voice – The power to reach millions at the same time
  • Data Man – The power to turn piles of data into competitive insights and deliver real marketing value
  • Mega Mentor – The power to get the most from others

Marketing in the past

I’m sure many of us remember marketing before the Internet; marketing before smartphones; marketing before apps of any sort! Now, with the ever increasing pace of change we are seeing in all technology, marketers have adapted and evolved to take advantage. Read More »

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The Advice Advantage: How Banks Can Close the ‘Value Gap’ and Regain Customer Trust

Today’s banking consumers are used to experiences that reflect their likes, dislikes, past histories, and even their future plans. But not always from their banks. These kinds of interactions are more common when buying an online book, streaming a movie, or planning a vacation. Despite numerous omnichannel initiatives, many banks continue to lag in providing contextual, relevant, and convenient experiences to their customers. And while many customers yearn for personalized financial guidance, a Cisco survey of 7,200 smartphone users and bank customers in 12 countries found that for too many bank customers, the choice is between no advice, or what they perceive to be generic advice delivered inconveniently.

As a result, bank customers often try to attain their most important financial goals on their own, via “friends” on social media, or from non-traditional providers of financial services. Moreover, since the financial crisis of 2007-2008, banks’ brand equity has fallen. Read More »

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Off the Shelf and into Production – grow your lifecycle services business now!

There has never been a better time to take inventory with your customers. By asking them if you can help them assess their software investments to turn dormant “shelf-ware” into “productive-ware, you will begin to discover new business, and new opportunities to sell services that support the entire software lifecycle.

Every customer wants to be as effective with the software investments they make and wants to quickly realize the return on their investments. Your work to discover activation opportunities or adoption and usage increases is just the beginning of adding value to your customers!

There are a lot of reasons why this is important – but here are my top three: Read More »

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