SAP software is commonly known for its cloud platforms and digital innovation systems. On Monday, the software company introduced new features for its SAP C/4HANA suite. With the SAP SAPPHIRE NOW conference kicking off in Orlando on Tuesday, announcements of new features are expected to continue.
After acquiring Qualtrics only three months ago, SAP is introducing 10 new features that combine experience data (X-data) and operational data (O-data), announced Ryan Smith, co-founder and CEO of Qualtrics, at Day 1 of the SAPPHIRE NOW conference. These features aim to boost four intrinsic businesses experiences—customer, employee, product, and brand—he added.
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"We need to decide and develop the intelligent enterprise from the customer perspective, from the outside-in," said SAP COO Christian Klein at the keynote.
This focus on the customer experience is where the partnership between SAP and Qualtrics comes in. The new offerings will centralize X-data between customers, employees, and stakeholders across the enterprise, making it easier for organizations to listen, understand, and act, SAP CEO Bill McDermott said at the keynote.
"Experience is now the organizing principle of the global economy," said McDermott. "Every CEO I meet is trying to solve the experience gap—it's the difference between what people expect and what they see. To deliver an experience, SAP is already the richest source of O-data, but we didn't have X-data. This is what people want."
While 80% of CEOs think they are providing an adequate customer experience, only 8% of customers agree, said Smith. But X-data and O-data will now work in conjunction with one another to help organizations act in real time and deliver better results.
If a company ignores the experience economy, it can expect to plummet as an organization, said Smith. The rise of technology has resulted in a customer base that expects more out of its services, and punishes companies that don't follow through with a personalized experience, he said.
"A way to help businesses not just survive, but win, in the experience economy," said Smith. "Experience has and become the growth engine for business."
The new features are improving experiences across four areas of business: Customer, employee, product, and brand. This breakthrough in communication and digital interaction will help boost customer loyalty, conversion, and satisfaction, said Smith.