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London 27th February 2006 – Whilst only one in ten (11%) financial services companies perceive a link between customer churn and IT system and network failures, an overwhelming two thirds (68%) think organisations should be doing a lot more to address related IT problems, according to the latest research from service management solutions company Tertio SMS.
This discrepancy suggests that many organisations are in denial about the effects of poor service management on the customer base. A former survey, run by ICM on behalf of Tertio SMS, shows that 33% of the UK adult population would be "certain" or "likely" to change service providers as a direct result of technology-based service failure if problems were experienced on a regular basis.
Alan Greenberg, CEO of Tertio SMS, comments: "The financial services sector appears to be burying its head in the sand when it comes to the impact that poor IT service management is having on customer churn. More attention needs to be paid to service management processes to help minimise risk. Organisations should be in the driving seat when it comes to understanding when and why things go wrong with service delivery.
"We continually find that there's a disconnect between IT and business when we're helping companies review the IT management processes they have in place. With service delivery now so dependant on IT, financial service companies must recognise the impact of poor IT service on customer satisfaction. They need to be working within a service management framework that allows them to offer better services more quickly. The bottom line is that good service equals happy customers and attracts new ones."
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Methodology
The research was conducted online between November, 2005, and January, 2006, with IT managers, IT directors and heads of IT. 100 recipients participated, of which 20% were from finance and the remainder from a range of other private sector industries.
About Tertio SMS
Tertio Service Management Solutions (SMS) has been providing solutions to blue chip companies for over a decade, empowering organisations to deliver customer service excellence. It provides a comprehensive range of innovative Business Service Management, Service Management, and Network and Systems Management solutions, combining industry leading software applications with its specialist consultancy and support.
Tertio SMS de-merged from Tertio in 2002 and is headquartered in London. A financially strong company with a proven track record, and nine consecutive profitable quarters, Tertio SMS has 40 employees, serving customers across Europe including T-Mobile, The Post Office, Sainsbury's and Dixons.
For further information
Simon Sacks, telephone: 0207 288 2807, email: simon.sacks@tertio-sms.com |
