The new way to prevent those left of field product trust risks
June 23, 2019
We’ve all seen that image of one little rock triggering a massive avalanche. It’s a memorable one.
And we’ve all seen one little lapse in operations act like that little rock. And, well, you know the rest.
This week, we’ll explore how Ai can help address the issues caused by unintended lapses in day to day operations, and give you visibility of looming operational risks. Last week I posted on Blurred responsibilities.
Monitoring the many operational risk of products in market is not easy. Things can slip the oversight net for so many reasons: teams may be focussed on growth; or systems that monitor financial and customer metrics can be unreliable, inefficient, untimely, or just darn time consuming.
Periodic and structured product performance reviews are important, but they do take a lot of time to prepare, and often, our immediate day to day priorities eat up time and focus.
And not having an overall view of a product program across its entire lifecycle can kill more than just the product, it can destroy overall customer trust – and brand and reputation.
I saw this, when as CTO of a monitoring & alerting technology company, we were suddenly made aware of a slew of customer complaints - eight long months’ worth.
While the complaints had been made to the operations team and service desk, they never made it out of the service operations team up to the General Manager or the Leadership team. And we had no end to end product lifecycle view across our entire product portfolio.
It turned out the sales team had sold features that were on future roadmap – and not in the original product design.
And as a result, customers cancelled all the products, revenue declined significantly and our competitors won the business of our justifiably aggrieved customers.
Skyjed’s Ai automates a product lifecycle discipline, tracks product design requirements, and ensures governance via consistent monitoring of all the elements of a product’s performance.
With Skyjed, you can monitor the day to day operations over a product’s entire lifecycle to assess and identify risk. And the easy-to-use Skyjed tool generates real-time reports so operational teams can update their management and leadership teams.
Skyjed automates all the important governance steps: it monitors regulatory, commercial, operational and customer risks; reports on performance and strategic health, and sets improvement actions plans.
Last week we looked at how Ai can address the problems caused by blurred responsibilities for product lifecycle. Next week we’ll look at how Skyjed’s digital brain power can help you proactively manage non-financial risk.
We’d love to hear from you at Skyjed.com