The service sector faces several key challenges to its transformation:

Consumer loyalty is fundamental to achieving sustainable growth in service. This requires a high and unwavering quality of service, which is always challenging when immediate delivery is expected. Managing customer perception of the service and the way that quality issues are addressed is also key.

Customer knowledge and recognition are absolutely critical for service providers, more than in other industries. Understanding customer needs, expectations and experiences is a starting point. Developing close working relationships and rewards are daily challenges.

The service sector must build new business models based on innovation. Putting customers in charge of their own service production through NICT, or successfully converting from manufacturing to the service industry are key opportunities to be seized.

So how can a better understanding of the business ecosystem and improved relationships with stakeholders help the service sector meet these challenges?

This kind of approach allows service providers to properly manage the entire service chain to reach a higher level of performance. Stakeholders must outline joint commitments to engage suppliers and partners, as well as establish the right governance model to monitor performance.

Building partnerships can help stakeholders gain access to new competencies, resources, technologies or knowledge, thereby broadening and enriching their service offering. By working with their customers, companies will also be able to pool knowledge and resources and, more importantly, undergo transformation by implementing customer-centric management.