|
Co—creation of value in testing services for the BFSI industry
Arun Kumar Singh, General Manager - BFSI Testing Services, Wipro Technologies
|
|
This paper looks at applying the concept of co-creation of value developed by C K Prahalad and Ramaswamy to Wipro Testing Services for the BFSI industry. Customer centricity and Customer experience have become the driving force for the BFSI industry. Co—creation, wherein the customer and outsourcing IT vendor work out the solution together, enables the creation of unique value and experience. |
Innovation has long been the focus of the software industry. Yet, few customers would call their software vendors “innovative”. The reason for this is, traditionally, IT firms decide the products / services that they will manufacture and provide the same to the customer. By implication, they decide what is of value to the customer. In this system, customers have a very limited role in the creation of the product / service. Co—creation is a concept where value is not created by the vendor and shared with the customer; rather it is co - created by the vendor and the customer. This also implies a movement from a company, or product-centric view of value, to an experience-centric view of value. In totality, this leads to a better product / service conception and implementation, and higher customer satisfaction. The solution or service is tailor made and addresses the unique stated and unstated needs much better.
The “Testing as a Managed Service” (TMS) offering of Wipro imbibes this concept. The different layers in the TMS structure facilitate the co—creation of value at different levels.
Some issues in Co-creation as mentioned below are also addressed:
- It’s a new concept in an old industry; acceptance of Conceptual and Process level changes takes time.
- It needs the right stake holders to be identified. Any mistake in identification of the stake holders proves detrimental.
QA Managers, Business Managers and CXOs would be able to derive special value from this presentation. |
Speaker Profile:
Arun Kumar Singh, General Manager — BFSI Testing Services, has about 19 years of experience in IT design, development and QA. He has worked with C—DOT, DCM—DP, AT&T in USA. Arun joined Wipro in its telecom solution division in 1999. During his career in Wipro he has served in a variety of management positions encompassing technical, marketing, strategic planning, business development and delivery roles in telecom and BFSI domains. Arun has done his B.E. (honors) in Electronics and Communication Engineering and masters in Marketing Management. Arun currently heads the group providing QA solutions to the banking, finance, securities and insurance customers across the world. |
|
