Businesses and governments need to update their information technology systems if they are to serve the “new generation” of consumers, according to Alain Ozan, Vice President of Technology at Oracle.
Speaking at the IDC Francophone Summit on April 30, 2014, Ozan discussed the changing nature of the way people shop, pay their bills, and communicate, and explained the growing importance of keeping information systems updated in order to maintain proper relations with customers.
“Not so long ago in the buyer/seller relationship, the balance of power was with the seller. Companies were able to dictate to the world: This is who we are, here’s what you know about us, here’s how you do business with us,” Ozan said.
“Now, the balance of power has shifted to the buyer. Ten years ago it was okay to have a 95% customer satisfaction rate. Today, that 5% of dissatisfied customers can bring a business to its knees,” the Vice President of Technology added.
Looking at the previous systems traditionally used by enterprises, Ozan emphasized that the older technologies need to be replaced as soon as possible as they are currently too slow, too complex and too expensive to perform to help today’s businesses thrive: “The budget just to maintain these systems needs to increase by 4% every year. To cope with the enormous amounts of data generated through doing business online, analyze it quickly and respond to these needs, businesses need to have a powerful, flexible and above all affordable IT system.”
Ozan continued: “It’s like buying a car today…You don’t buy the components from different manufacturers and then build your own car, you buy the complete car from one manufacturer and you are assured that everything works as it should. This is the direction in which modern computing is going.”