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The Importance of the Omnichannel in Financial Services

Technology has and will continue to be a key enabler across every product delivery channel within the financial services sector. You simply need to explore some of the newer bank branches, available applications within app stores or investigate online innovations inherent in many institutions’ web presence to see how engrained technology has become in the customer experience. While firms are making this transition in differentiated form factors and across different channels, the trend itself is clear and pervasive; underpinned by the “anywhere, anytime” mantra and the continued consumerization of technology.

These channel developments cut across all products, but all have one common element – enabling improved and increased collaboration between institutions, their clients, businesses and/or consumers to drive accretive revenue. While these developments have and will continue to deliver impressive initial returns, they are largely siloed by either a business unit and/or delivery channel. The true potential value can only be unlocked by enabling a seamless and contextual integration of the physical, direct and mobile channels – the evolution from multi-channel to omnichannel.

The omnichannel model enables the customer to choose how and by what method they want to conduct their business, be that in person, via a mobile device, from the home, online or with telephony. Cisco’s IBSG team has published a white paper that looks into the transformation of institutions from multi-channel to omnichannel. While the method of communication is important, the true differentiator in transformational channel evolution is the ability to integrate interaction. Institutions must be aware of the context and outcomes of customer interactions as customers move from channel to channel, product to product, or business line to business line.

From an institutional point of view, the value in the omnichannel impacts multiple factors. Read More »

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Words Of WISDOM At Cisco Marketing Velocity

As Cisco Marketing Velocity wrapped up in Cannes last week, Sherri Liebo, Cisco’s vice president, global partner marketing, offered a final takeaway and call to action to the 200 Cisco partners in attendance.

WISDOM.

Repeat: “What I say and do differently on Monday.”

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Delivering a Better Meeting Experience, for Everyone

Virtual meetings have become an increasingly important part of the workday. Companies rely on technology such as video and web conferencing to help geographically distributed teams collaborate and be more productive.

The common denominator in all of these virtual meetings is the conference call. It’s a fact that the quality of the audio usually dictates the quality of the meeting. Think about how many times people complain about the audio breaking up, being too loud or too soft, or simply asking to repeat questions or points discussed because the voice quality is just not good enough?

New Cisco Unified IP Conference Phone 8831

New Cisco Unified IP Conference Phone 8831

The new Cisco Unified IP Conference Phone 8831 – a new phone purpose-built for the conference room – solves many of these audio challenges. Now, each user joining a meeting can expect the best possible meeting experience, with high quality audio that is akin to being in the room itself. The traditional definition of a meeting has changed, and with it, the tools needed to have a successful meeting experience must evolve as well.

As anyone who has led a meeting knows, the key to a successful meeting is engagement. But employees won’t speak up and engage if they’re frustrated by the meeting experience – if they can’t hear others or aren’t being heard if they speak up themselves. Large meetings can sometimes suffer from a lack of productivity and results because of this lack of participation.

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The Mobile Paradox

Today’s world is characterized by what I call the “mobile explosion”—an environment defined by mobile cloud becoming a platform for delivering everything. It is a world of heterogeneous networks, licensed macro small cell networks, and unlicensed small cell networks (Wi-Fi for example), all seamlessly combined. In this world, however, I believe we are facing a mobile paradox: on the one hand, there is a staggering demand for data from our smartphones, tablets, and other connected devices; on the other hand, the telecommunications industry is grappling with business and monetization challenges around profitability, how to build up these networks fast enough, and competition from over-the-top (OTT) operators.  But, operators are struggling with building the business case and understanding how to make Wi-Fi pay.

The much quoted Cisco Visual Networking Index (VNI) predicts that global mobile data traffic will increase 13-fold from 2012 to 2017, reaching 11.2 exabytes per month. In parallel, the use of unlicensed small cell networks (Wi-Fi) for Internet access is exploding as more mobile devices are Wi-Fi-enabled, the number of public hotspots expands, and user acceptance grows. Until recently, most technologists and mobile industry executives viewed Wi-Fi as the “poor cousin” to licensed mobile communications.  And they most certainly never saw any role for Wi-Fi in mobile networks or their business. The explosion of mobile data traffic has changed all of that. Most mobile operators now realize that offloading data traffic to Wi-Fi can, and must, play a significant role in helping them avoid clogged networks and unhappy customers.

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In the “Business Models and Monetization Video” in Big Thinkers in Small Cells, my colleagues and I discuss revenue opportunities and challenges mobile operators face today with small cells, both licensed and unlicensed. Mobile operators Read More »

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Cisco Tied for #1 with Google on Greenpeace Cool IT Leaderboard

April 24, 2013 at 12:00 pm PST

Greenpeace started evaluating global Information Technology (IT) companies in 2009 because IT companies have a central role to play in enabling a modern, renewable-powered energy infrastructure. The IT sector has the opportunity to drive transformative change in the consumption and production of energy, with the potential to drive a significant reduction in the greenhouse gases that cause climate change.

Today it was announced that Cisco is tied with Google for the top spot on the Cool IT Leaderboard -- a scoring system that analyzes IT companies’ contributions to achieving global greenhouse gas emissions reductions of 15 percent by 2020.

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The Greenpeace analysis of Cisco’s performance said “Cisco’s leadership improved across each of the three evaluation areas, particularly for updated commitments to manage its energy footprint and increase the amount of renewable energy powering its operations.”

Read more about Cisco’s programs to help the environment in our 2012 CSR Report.

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