March 2023 - AIXTOR Technologies

The Impact of Technology on Manufacturing Industry with Liferay DXP

Posted on 24/03/202306/06/2023

The past focus of B2B transactions was primarily on efficiency, ensuring that customers receive their orders quickly and efficiently. But modern businesses have shifted their focus to a customer-driven approach that prioritizes delivering a personalized digital experience. But what does this mean for manufacturers?

For manufacturers, this means optimizing the customer experience based on their unique behavior and expectations, which can be achieved through digital transformation. By implementing a Digital Experience Platform (DXP) tool like Liferay DXP, manufacturers can streamline their operations and processes to deliver products faster and produce higher-quality products that exceed customer expectations. In fact, a Forrester Research study found that companies using a DXP experienced a 90% increase in customer retention, a 70% improvement in website conversion rates, and a 50% faster time-to-market.

These statistics make it clear that a DXP is a game-changer for manufacturers seeking long-term success.

Manufacturing Industry with Liferay DXP

4 Major Challenges of the Manufacturing Industry

The manufacturing industry faces unprecedented challenges as it adapts to digital transformation and changing technology trends. Despite these challenges, companies have seen significant improvements in customer engagement and revenue growth with the implementation of a Digital Experience Platform (DXP). Here are some of the major challenges faced by the manufacturing industry.

1. Constant pressure from competitors to innovate and remain competitive:

The manufacturing industry is facing intense competition from new players such as startups and niche companies that are leveraging advanced technologies such as AI, IoT, and cloud computing to create innovative products and services. According to a survey by PwC, 72% of manufacturing CEOs believe that technology advancements are a key challenge to their industry. To stay competitive, manufacturers need to initiate digital transformation, create new business models, adopt agile manufacturing processes, and use data-driven insights to drive innovation.

2. Legacy systems that aren’t compatible with newer technologies and processes:

To meet the continuously changing customer expectations and demand, manufacturers need scalable systems. A report by Accenture found 73% of manufacturing executives said that legacy systems and technology were a significant barrier to digital transformation, making it difficult to pace up with competitors.

3. Complexities of delivering engaging customer experiences:

Manufacturing companies often struggle to create excellent customer experiences. In absence of that, they lose on various customer engagement opportunities. To address this challenge, manufacturers must adopt a customer-centric approach, leveraging data and analytics to understand customer needs and preferences, and using digital technologies to create personalized experiences.

4. Difficulty analyzing a huge amount of data to derive actionable insights:

The manufacturing industry generates vast amounts of data from sensors, machines, and other sources, which can be overwhelming to manage and analyze. To derive actionable insights from data, manufacturers must invest in data analytics tools and technologies, and build data-driven decision-making capabilities across their organization.

Why do manufacturers and distributors need a DXP?

A Digital Experience Platform (DXP) empowers manufacturers and distributors to effectively manage and deliver digital experiences to their customers across various touchpoints, including websites, mobile apps, and social media channels. It also helps them with:

Increased engagement and conversion

Digital experience solutions for manufacturers and offer increased engagement and conversion by tailoring experiences based on a customer’s past purchases, browsing history, and demographic information. This personalized approach can result in increased customer satisfaction, loyalty, resulting in higher conversion rates.

Drive customer acquisition

By offering superior customer experiences, manufacturers and distributors can get ahead of their competition. With consistent experiences across all channels, they can drive new customer engagement and increase brand awareness.

Increased ROI

A manufacturing company can use a DXP to streamline its supply chain management (SCM), thus, reducing costs associated with inventory management, logistics, and shipping. For a distributor, DXP helps in automating order processing and customer support, eliminating the need for manual intervention and increasing efficiency. These improvements can result in increased revenue and a higher ROI for the business.

5 Ways Liferay DXP Can Benefit Manufacturers

Despite the importance of digital transformation, many manufacturing companies still struggle to keep up. To remain relevant, they must invest in technology and initiatives that connect partners and serve customers better. According to a recent survey by Liferay, a digital experience platform, 93 manufacturing customers commonly use the platform for collaboration, customer, and dealer portals. Take a look at the manufacturing Intranet & Portal Website Software and various other Liferay solutions.
Liferay DXP Can Benefit Manufacturers

1. Customer Portals

Manufacturers can build customer portals using Liferay solutions, establishing direct relationships with end customers. Liferay-powered portals offer personalization, fast and efficient self-service options, flexibility, and the ability to accommodate evolving business needs and pricing models resulting from Industry 4.0. For instance, Airbus Helicopter uses Liferay DXP to provide a modernized platform for over 24,000 users worldwide, enabling them to manage accounts, submit electronic warranty claims, access health and usage reports, and purchase spare parts online. The benefits include improved operational efficiency, greater productivity, and intuitive browsing organized by helicopter fleet instead of by department.

2. Collaboration Platforms

Liferay’s collaboration portal facilitates seamless internal and external collaboration for global teams, with user authentication, granular permissions, and robust integration capabilities. Its features for social and collaboration, streamlined business processes, forms, and workflow support concurrent work towards common goals. Putzmeister leveraged Liferay to establish a comprehensive platform that decentralized maintenance, updated the contact directory and provided a complete range of products and designs on a single platform. The result was impressive, with international connectivity achieved for the first time, over 5,000 documents organized, and diverse applications integrated with support for multiple sites.

3. Dealer Portals

Dealer portals, supported by Liferay, enable a bi-directional flow of information to gain valuable customer insights that can be integrated into early production and design phases. They also offer training and materials to help dealers communicate product benefits and the unique needs of B2B sellers. Liferay DXP provides an integrated experience for B2B partners, serving every stage from purchase to service. Volkswagen Group France has streamlined its operations with a B2B dealer portal featuring multimedia resources, personalized access, and document sharing based on user roles and permissions.

4. Public Websites

Liferay’s public websites allow manufacturers to provide a seamless customer journey through websites with features such as multiple language support, personalization, mobile optimization, and headless CMS. Bosch Smart Home used Liferay to create a user-friendly website integrated with back-end systems, achieving a 4.8-star rating on Trusted Shops.

5. Integrated Platform

Liferay’s integration capabilities offer businesses the advantages of supporting multiple audiences, overcoming siloed processes, and extending the value of legacy technology. QAD, a leading enterprise software provider, implemented an integrated platform to connect all its sites, resulting in a single solution for intranet, website, and content management, greater personalization, and a strong technical foundation.

How Liferay Helps Manufacturers Adopt Digital Transformation

The Liferay Digital Experience Platform (DXP) offers manufacturers the ability to establish a robust groundwork that aligns with evolving customer expectations and the constantly changing industry landscape. By implementing this flexible, scalable, and enterprise-grade platform, businesses can maintain their competitive edge. Noteworthy advantages of using Liferay DXP include:

A seamless end-to-end customer journey

By combining Liferay Commerce with a digital experience platform, manufacturers can enhance the B2B selling experience and deliver a centralized location for information, shopping, and self-services to their customers and distributors.

Digitally enabling your business ecosystem

Digital experience solutions for manufacturers provides businesses with a unified ecosystem that integrates relationships and knowledge through a single platform. Its out-of-the-box features, including social and collaborative tools, business process automation, and omnichannel support, can enhance operational efficiency and customer solutions delivery. This and elevates competitive edge and foster seamless digital transformation in manufacturing.

Insight-driven strategies with aggregated data

Liferay provides a comprehensive solution that integrates third-party and legacy systems to aggregate and analyze siloed data for developing effective strategies. By leveraging Machine Learning features in Liferay Commerce in conjunction with Liferay DXP, organizations can optimize sales operations and customer experience initiatives with suggested product groups and recommendations.

Flexibility for future business models

As the manufacturing industry progresses towards advanced business and pricing models, such as subscription-based models, Liferay’s platform provides the flexibility to keep pace with evolving organizational structures and processes.

Liferay DXP Features with immediate ROI for the Manufacturing Industry

Liferay DXP’s ability to integrate legacy systems with modern technologies and adapt to evolving business models, while streamlining processes and improving data management, makes it a valuable platform for the manufacturing industry.

Feature	Description
Content Targeting	Offers businesses the ability to deliver personalized content to specific audiences based on demographic data and browsing history.
Forums	Provides users with a collaborative platform to share knowledge, discuss ideas and resolve issues.
Mobile Responsive Design	Ensures that websites and content are optimized for viewing on mobile devices, improving user experience and engagement.
Personalization	Enables businesses to create tailored experiences for users by delivering personalized content and recommendations based on their preferences and behavior.
Workflow Engine	Streamlines and automates business processes, improving efficiency and productivity.
Web Content Management	Allows businesses to easily create, edit, and manage website content, streamlining content creation and publication.
Categories and Tags	Organizes content into a logical structure, making it easier for users to find what they’re looking for.
Search	Provides users with a fast and accurate search function, improving their ability to find relevant content.
Integrations	Enables seamless connectivity with third-party software, enhancing functionality and improving the user experience.
Data Protection	Ensures that user data is secure and protected, complying with data privacy regulations.
High Availability and Scalability	Provides businesses with a platform that can handle high traffic volumes and scale up as the business grows.
User Management and Permissioning	Enables manufacturing companies to manage user access and permissions, improving security and data protection.
Segmentation Rules	Allows manufacturers to segment their user base and deliver personalized content based on specific criteria, improving engagement and conversion rates.

Liferay Commerce Features for the Manufacturing industry

Liferay Commerce offers advanced features to streamline the sales process for manufacturers and improve customer engagement.

Feature	Description
Catalog and Product Browsing	Allows customers to easily browse through a manufacturer’s product catalog and find what they need, with search and filtering options available.
Customer-Specific Pricing	Offers personalized pricing and discounts to customers based on their account status, purchase history, and other factors.
Order Forecasting	Helps manufacturers anticipate customer demand and plan production and inventory accordingly, using data analysis and sales projections.
Payment, Shipping, and ESB Integration	Integrates with various payment gateways and shipping providers to offer seamless, secure transactions and delivery options, while also integrating with ESB for data exchange between different systems.
Single Page Checkout	Streamlines the checkout process for customers, allowing them to complete their purchase quickly and easily on a single page without navigating through multiple steps.

Potential challenges for manufacturers when building digital experiences and how to overcome them

Manufacturers face challenges in building digital experiences due to legacy systems, data management, and changing customer needs, which can be addressed through agile digital transformation, modern technology platforms, and customer-centric strategies.

Integration with legacy systems

Many manufacturers rely on legacy systems to manage their operations, which can make integrating new digital experiences a challenge. For example, a manufacturer with an inventory management system that is not compatible with a new digital platform. However, Liferay offers pre-built connectors and APIs that can facilitate integration with the inventory management system, enabling real-time inventory updates and improving the accuracy of product availability information.

Data migration

Migrating data from legacy systems to new digital platforms can be a complex process that requires careful planning and execution. A manufacturing company switching to a new digital platform may need to migrate product information, customer data, and order history from its legacy system. Liferay’s migration tool offers data migration tools and best practices to ensure a seamless and efficient data migration process, ensuring data accuracy and completeness.

Customization

Manufacturers need customized digital experiences to meet their unique business requirements and customer needs. To create a customized checkout process for their B2B customers, Liferay offers easy customization and development, with features such as drag-and-drop page building, customizable themes, and pre-built templates.

User adoption

A successful digital experience is only possible when users can easily adopt and utilize the platform, and Liferay offers a user-friendly interface and comprehensive training and support resources to help users adopt and engage with the platform. For example, if a manufacturer wants to train their sales team on how to use the new digital platform to access product information and place orders, Liferay’s robust training and support resources, such as user guides, video tutorials, and webinars, can ensure an effective knowledge transfer.

Security

Manufacturing companies need to ensure that their digital experiences are secure to protect sensitive data and comply with regulatory requirements. If a manufacturer aims to comply with data privacy regulations such as GDPR or CCPA, Liferay’s security features, such as user authentication and authorization, data encryption, and secure communication protocols, help in data protection and meet regulatory requirements.

Scalability

Today’s digital experiences must be scalable to handle growing traffic and user demands. To address the challenge, Liferay offers load balancing, clustering, and cloud deployment options. These features distribute network traffic across multiple servers group servers to work as a single system and allow users to add more resources to the system as needed.

Future of Manufacturing with Liferay DXP

The manufacturing industry is gradually shifting towards digital transformation and Liferay DXP is at the forefront of this change. With Liferay DXP, manufacturers can create a seamless digital experience, optimize their production processes, reduce costs, increase efficiency, and improve customer satisfaction. In addition, it also leverages emerging technologies such as AI, IoT, and blockchain, unlocking new opportunities for growth, innovation, and sustainability.
Future of Manufacturing with Liferay DXP

Enhanced customer experiences

With Liferay DXP, manufacturers can create a personalized and agile digital experience for their customers across multiple channels, devices, and touchpoints. This can create a seamless, omnichannel customer journey that enhances engagement, loyalty, and brand advocacy.

Increased efficiency

Liferay DXP help manufacturers streamline their production processes and reduce costs by automating operation and eliminating manual processes. This can result in improved efficiency, reduced downtime, and increased output.

Improved collaboration

For better collaboration among different stakeholders such as employees, suppliers, and partners, companies can leverage Liferay DXP. Moreover, they get a central platform for communication, document sharing, and project management.

Predictive analytics

Leverage data and analytics to gain insights into production processes, customer behavior, and market trends. By using predictive analytics, manufacturers can anticipate and respond to changing customer needs, optimize production processes, and improve overall business performance.

Agile manufacturing

Adopt an agile approach to production by enabling real-time data collection and analysis, flexible production scheduling, and rapid response to changing market demands with Liferay DXP. This can enable manufacturers to quickly pivot their production processes to meet changing customer needs, stay competitive, and drive growth.

The manufacturing industry is undergoing a revolution with the continued advancement of technology, making it crucial for companies to consider the advantages of digital transformation. Adopting innovative solutions like Liferay DXP can enable businesses to enhance their operations, improve their customer experience, and ultimately boost their overall performance. With its flexible architecture, seamless integration capabilities, and user-friendly interface, Liferay DXP is an ideal option for manufacturing firms seeking to optimize their digital strategy. Given these compelling benefits, manufacturing companies should seriously consider implementing Liferay DXP as part of their digital transformation journey. To learn more about how Liferay DXP can help your business, book a call with one of our experts.

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What is Enterprise Portal? Why Liferay is the Best Technology for Developing the Enterprise Portal

Posted on 16/03/202317/04/2023

As customers take the center stage in every successful business, companies are bound to step up their digital experience game. To help them achieve their renewed objectives, businesses are now turning towards Industry 4.0 which is coupled with modern-day technologies and tools. One such advanced solution is the deployment of Enterprise portals.

An enterprise portal is a framework that helps businesses achieve a high level of collaboration and management. It consolidates a business’ digital assets to create compelling customer experiences by building an omnichannel presence. It enables businesses with centralized business operations. Let’s explore what else an enterprise portal is capable of and how it can transform your business completely.

Understanding Enterprise Portal Development

An enterprise portal is a unified ecosystem that combines processes, people, and information, building a secure single source of truth. It provides a knowledge platform for employees, customers, partners, and other stakeholders. Using enterprise portals, businesses can create efficient collaboration tools, Content management systems (CMS), workflow management solutions, and a detailed knowledge base.

Here are five major ways in which enterprise portals can help you:

1. Enhanced customer experience

They offer your customers a single source to access all company information and other self-service options. By providing personalized and easy access to content and support, you can continuously improve your customer experience by integrating a feedback loop.

2. Centralized business operations

An advanced enterprise portal allows you to consolidate and streamline your business operations. With a centralized data hub containing a repository of all your business data across different sources, you can effortlessly access and analyze data, improving decision-making and overall business operations.

3. Improved productivity

Having a single point of access to information and resources empowers your employees to work more efficiently and effectively. You can achieve this easily with smart employee portals.

4. Better collaboration

Get assistance in improving collaboration between employees, departments, and external stakeholders. These platforms also help in improving communication among employees.

5. Improved security

Secure your enterprise environment from unauthorized access to sensitive information and resources. Not only that, but enterprise portals are also HIPAA and GDPR- compliant, ensuring that your business data remains secure and protected.

8 Types of Enterprise Portals

Various types of enterprise portals suit different needs and objectives of a business. Some of them help you improve team collaboration while others ensure an improved customer experience. They also help you automate your business processes, and a lot more.

1. Intranet Portal

An Intranet portal is a private network that allows your employees to share information and collaborate on projects internally. Implementing an intranet portal leads to improved operational efficiency, increased productivity, and enhanced knowledge sharing, thereby contributing to the growth and success of your organization.

2. Partner Portal

Using Partner portals, businesses can connect with their partners efficiently. These platforms come with essential tools to create marketing campaigns, attract more revenue, and educate all the stakeholders involved. They help external partners to build easy access to the services and information needed. Partner portals are generally password-protected websites with proprietary data, such as pricing plans, marketing resources, technical support documents, and other sales details.

3. Self-Service Portal

Self-service portals help your customers resolve their general queries instantly. You can either choose a Customer self-service portal or an employee self-service portal. Generally, your business requirement defines which kind of portal you should adopt. Both portals are usually built on the same technology but carry different information to cater to the right audience. These portals save the time and effort of your support representatives to focus on complex and urgent customer queries.

4. Knowledge Portal

Knowledge portals OR eLearning Portal offer your audience direct access to a wide range of relevant content – from video tutorials and FAQs to detailed articles and technical support documentation. This digital platform contains company information, various company policies, employee data, and more. These portals reduce the expensive employee training cost and foster self-learning at their own pace.

5. Employee Portal

This portal connects all your employees under one platform. It helps in creating a well-organized workflow and operations. An employee portal is also known as an HR portal that puts various HR services at the fingertips of your employees, enabling them with multiple self-service functions like Live Chat and Ticket Tracking. Additional benefits of an employee portal include increased employee engagement.

6. Customer Portal

Customer portals are a great addition to businesses with customer-centric strategies. With contact centers and support agents not always readily available, customers sometimes look for low-effort solutions to handle their challenges on their own. From an easily accessible knowledge base to interacting with a community and a catalog of support options available at their dispense, these portals make customers capable and self-sufficient.

7. Supplier Portal

This online platform equips you with the ability to manage your relationships with suppliers by providing a centralized location for communication, collaboration, and transactional activities. By streamlining these processes, you can optimize your supply chain management, increase operational efficiency, and ultimately enhance your bottom line. Supplier portals are designed to offer increased transparency and visibility into supplier performance, helping businesses to make data-driven decisions and ensuring that suppliers are meeting their contractual obligations.

8. Vendor Portal

This portal facilitates streamlined communication and collaboration between a company and its vendors. It enables your vendors to manage their accounts, access relevant information, and perform various tasks such as submitting invoices, managing purchase orders, and tracking deliveries. A vendor portal boosts efficiency, reduces costs, and enhances vendor relationships.

Why does your business need an enterprise portal?

Besides building intuitive customer experiences, businesses generally adopt enterprise portals to streamline their operations, improve productivity and boost customer satisfaction. But of all the enterprise portals mentioned, does your business really need one and can it guarantee continuous business growth and success? It’s a yes if your business is facing any of the listed challenges:

Fragmented business applications

Fragmented digital experience is a common challenge for businesses with multiple touchpoints and communication channels. It begins with disjointed business applications, delivering inconsistent digital experiences for the users. With multiple applications, companies collect and manage different data which may or may not be aligned with each other. Thus, creating data silos and information discrepancies.

Inefficient communication and collaboration

Not having a centralized portal for effective communication and collaboration can result in the creation and use of different resources and tools. This not only affects downtime but also produces varied results, confusing users across different departments. Eventually, affecting the overall productivity and efficiency of an entire organization.

Multiple logins and user interfaces

Managing multiple login systems is a cumbersome task. On the other hand, different user interfaces can confuse users. It can impact the effectiveness of a portal and leave users error-prone.

Lack of centralized access to data and information

With no access to a single source of data, employees usually face a challenge in decision-making. Disparate data sources offer incomplete insights, which can result in lost opportunities.

Get the Maximum Benefits of an Enterprise Portal

Enterprise portal services present a great opportunity for your business to achieve success. The benefits of an enterprise portal are undeniable.

Centralized access to business applications

With centralized access to business applications, employees get direct access to relevant information and tools from one single platform. According to a study by TechValidate, businesses can save up to 5 hours per week per employee by using an enterprise portal to access business applications.

Improved communication and collaboration

Using the right collaboration tool, stakeholders can share and maintain consistent data throughout the process. From content management to resource allocation, an enterprise portal enables teams to work together effectively.

Enhanced productivity

By enabling employees to access resources and information quickly and easily, an enterprise portal can lead your team and department productivity to the next level. According to a survey by CIO Insight, enterprise portals can improve productivity by up to 30%.

Streamlined business processes

You can consolidate multiple systems and processes into a single platform to streamline your business processes and operations effectively and efficiently. For example, the right implementation of an enterprise portal can help companies reduce the time it takes to process orders from weeks to days.

Achieve the benefits of an enterprise portal with Liferay. What is Liferay?

Liferay’s enterprise portals can be tailored to the requirements of all kinds of audiences. Liferay offers open-source, Java-based toolsets which allow businesses to create easy and customizable portals, helping them to build solutions to meet their business needs and cater to their audience. These portals can also be integrated with the existing systems without affecting the underlying security system. Liferay’s responsive design ensures seamless functionality across all your devices.

Among various options in the market, why should you choose Liferay?

Liferay is a top choice for leading businesses, especially the ones seeking to digitally transform their business to match the need of the hour. Take a look at the salient features of Liferay and how it can help you enhance your digital presence.

Easy to use and learn

Liferay’s user-friendly interface makes it easy for users with limited to no technical knowledge. While being an open-source platform, it also gives extensive access to technical users to customize a portal and make changes to suit their audiences’ best interests.

Feature-rich platform

The platform allows centralized access to applications, data, and content. It also allows various customization features, robust security, and effective collaboration tools, covering all your business needs under one platform.

A large community of users

The Liferay community helps businesses make the most of the platform, providing a wealth of knowledge and resources with which you can secure success for your business.

Free (Community Edition)

The Community Edition of Liferay is free, making it a cost-effective solution for you to take a good trial of the platform. You also get access to various tools and applications without incurring additional costs.

Support for standard technologies

Liferay’s Enterprise Portal Integration Services supports Java, JavaScript, HTML, and CSS, making it easy for you to integrate your existing systems and applications. It also offers plugins and custom applications to extend the capabilities of your platform.

Extremely flexible in deployment options

Liferay has different deployment options that cover business with legacy and modern systems. From on-premises portals to cloud applications and even hybrid models, it can be deployed on any IT infrastructure.

What makes Liferay the Best Technology for Enterprise Portal Development?

Liferay serves as the best technology for an Enterprise portal solution due to its robust architecture, extensive customization options, and strong focus on user experiences. Here’s a list of advantages of using Liferay. Also, check out how Liferay helped other businesses grow.

Flexibility

Liferay enterprise portal is well-versed in dealing with a diverse range of customers with varying needs. For example, a telecom company can leverage Liferay’s flexibility to create a personalized portal with different pricing plans, payment options, and access levels for individual and business customers. With its drag-and-drop widgets, themes, and layouts, Liferay enables organizations to tailor the portal’s look and feel to their brand’s identity and customer preferences, delivering a seamless user experience.

Open-source platform

Liferay’s open-source platform offers numerous benefits, including cost-effectiveness, community support, and continuous innovation. For example, the government of France leveraged Liferay’s capabilities to build a digital portal for public administration, providing citizens with easy access to various government services and information. By customizing the portal to meet specific citizen needs while ensuring reliability and security, Liferay helped the government maintain a low cost of ownership. Additionally, Liferay’s active community of developers and users provides regular updates and new features, keeping the platform at the forefront of innovation.

Customization

Liferay portal solutions offer extensive customization options, making it a powerful platform for creating personalized experiences for users. Multinational organizations utilize Liferay to create a global employee portal for their diverse regional requirements. The portal allows you to create custom pages and layouts tailored to each region’s specific needs and preferences, including language support, localization, and user permissions. By leveraging Liferay’s customization capabilities, you can meet the specific needs of your employees, enhancing engagement, collaboration, and productivity.

Scalability

Liferay’s scalability allows businesses to expand and adapt their portal as their business needs grow. For example, for a growing retail business that aims at attracting more customers, the portal needs to handle increased traffic and support additional products and services. Liferay’s modular architecture and distributed deployment options allow organizations to scale their portal infrastructure horizontally or vertically, ensuring that the portal can handle increased traffic and demand without sacrificing performance or reliability.

Security

The platform prioritizes data protection and privacy. It is HIPAA and GDPR-compliant and ensures it meets the data privacy requirements of an organization. It is trusted by the US Department of Defense (DoD), which adopted Liferay to build an enterprise-wide portal. The developed portal is now used across various military agencies and government departments to share information.

User-friendly interface

A large number of businesses rely on Liferay for developing engaging portals with a seamless user experience. For instance, a healthcare provider can leverage Liferay to create a patient portal that enables easy appointment scheduling, online bill payment, and access to medical records. With its responsive design, Liferay ensures a consistent user experience across all devices, enhancing patient satisfaction and loyalty. Liferay’s user-friendly interface makes it a popular choice for creating portals that prioritize user experience.

The Power of Liferay for Enterprise Portal Development

As the demand for enterprise portals is on the rise, businesses seek ways to consolidate digital assets and streamline operations. By implementing an enterprise portal, businesses can achieve numerous benefits, including enhanced collaboration, streamlined workflows, and improved customer engagement. To solve the issues at hand, Liferay stands out as a leading platform for enterprise portal development, offering flexibility, customization options, and user-friendly interfaces. At AIXTOR, we offer exceptional Enterprise Portal Development Services in collaboration with Liferay, enabling you to unlock the full potential of your enterprise portals and stay ahead of the competition.

Ready to take your business operations to the next level with an enterprise portal? Look no further than Liferay. Talk to our experts to understand how you can create a customized solution to meet the unique needs of your business.

Transforming the Insurance Industry: How Liferay DXP is Revolutionizing Digital Experiences

Posted on 02/03/202304/04/2023

The global market is undergoing rapid evolution, leading a significant shift in customer expectations and experiences. As a result, there is a pressing need for agility and adaptation across all industries. However, the impact of this disruptive change is particularly pronounced within the insurance industry, where advanced technologies and a surge of InsurTech startups are challenging traditional insurers. Delivering innovative and personalized experiences and meeting the ever-changing demands of modern customers has now become more critical than ever. Fortunately, there is a solution that can help insurance companies tackle these challenges and transform their business for the better: the Liferay Digital Experience Platform.

This game-changing platform provides a comprehensive solution for insurance companies to stay ahead of the curve by enabling them to deliver personalized customer experiences, streamline operations, optimize workflows, and meet regulatory requirements.
transforming-the-insurance-industry-with-liferay-dxp

The Most Common Insurance Industry Challenges Today

The insurance industry has long been recognized for its complex and evolving landscape, and there are a number of challenges that are currently at the forefront of insurers’ minds.

Slow adoption of modern business processes for agents, employees, and customers

Due to their reluctance to adapt and innovate, the traditional insurers are now left vulnerable to more agile and adaptive competitors. Despite the availability of more advanced and efficient systems, many insurers continue to use the same legacy systems, resulting in a lack of integration between different systems and inefficiencies in processing claims. This, in turn, leads to a lack of interoperability between different departments and an inability to provide the level of service that customers expect.

Risks associated with advanced technologies and processes

As insurers adopt digital solutions to streamline their operations and improve the customer experience, they are also exposing themselves to potential risks that come with new technologies, including cybersecurity threats and data privacy concerns. In recent times, the industry has observed a rise in security incidents. In 2020, the world’s largest insurance broker, Marsh, was hit by a cyberattack that exposed sensitive information about its clients, highlighting the need for insurance companies to take cybersecurity seriously.

Overwhelming amount of legacy systems and non-integrated technologies

Many insurers continue to use outdated and complex systems that lack compatibility with newer systems. With a lack of integration between different systems, insurance companies face inefficiencies in data management, claims processing, and customer service. This challenge has a cascading effect on the overall performance of the insurance company, including decreased productivity, poor customer experience, and slower time to market. One instance of this challenge is the difficulty in integrating legacy systems with modern cloud-based solutions.

Industry disruption from large insurers and InsurTech startups

The insurance industry is facing disruption from both large insurers and InsurTech startups, making it challenging for traditional insurance companies to maintain their market share. Large insurers are looking to expand their offerings and acquire smaller players to strengthen their position, while InsurTech startups are leveraging advanced technologies to offer innovative products and services. As a result, traditional insurers are struggling to keep up with the competition and provide the personalized and innovative services that modern customers demand.

Liferay DXP enables insurers with different digital solutions

With a wide range of Digital solutions, Liferay DXP helps insurers to transform their business. From personalized communication to automated underwriting and claims processing, the platform enables insurers to stay competitive in the industry and deliver exceptional customer experiences.

1. Various digital solutions under one roof

Whether it’s seamless communication, damage reporting, or claims processing, insurers must keep pace with the changing demands of their customers. Liferay Digital Experience Platform enhances the customer experience throughout the entire customer journey.

Self-Service customer portal: Streamline operations, reduce overhead, and improve customer experience with a self-service portal. Increase loyalty and retention with a centralized platform for policy management, invoicing, service requests, and transactions.
Broker portal: Empower your brokers with the tools to create personalized offerings, share and collect data, and increase their operational efficiency. Thus, help brokers to sell more and earn higher commissions, keeping them motivated to outperform.
Employee portal: Simplify access to employee data, tools, and resources. This helps maximize efficiency, collaboration and communication, leading to improved team performance, productivity, and higher success rates.
Integration platform: Bridge the gap between legacy systems, new technologies, and data sources with advanced integrated platforms. Stay agile and ready for digital transformation to improve efficiency, accuracy, and scalability.

2. Take customer-centric approach

Insurers gain a competitive edge by providing end-to-end digital Insurance solutions that cater to the needs of not only customers but also brokers and employees. Liferay’s end-to-end digital solutions streamline the customer journey and keep up with customer expectations, making sure that insurers are always a step ahead.

Digital-first customers: Deliver seamless digital experiences that policyholders demand. Utilize the pre-built features to create and personalize your insurance portal solution.
Omnichannel experiences: Provide customers with consistent and connected digital experiences. Streamline engagement along the customer journey, from initial contact to multi-channel support and automation.
Employee productivity: Leverage Liferay DXP’s digital workspace capabilities to let teams collaborate smoother and faster, leading to employee engagement and satisfaction. With this powerful platform, your employees will have the resources they need to make your customers happy.
Tools for brokers: Improve agent efficacy with intuitive digital experiences. Offer comprehensive customization options to ensure the broker portal meets the unique needs of each customer.
Gain a competitive edge: Adapt to the changing landscape and drive future innovations. With OpenAPI compatibility, invest in a platform that is able to respond to fluctuations and continue to push forward in the ever-evolving global market.
Integrate legacy IT systems: Leverage current and future InsurTech solutions, ensuring that your business is always ahead of the curve when it comes to innovation, even when you choose to stick to legacy systems.

7 Exceptional business benefits of Liferay DXP for insurance companies

Liferay DXP being an open-source and flexible platform allows you to launch your digital transformation journey without disruption to your existing operations. From modernizing your personalized solutions to providing an enterprise-level experience, the powerful platform enables you to create a seamless customer journey. Here’s how Liferay DXP helps you to increase your productivity and improve customer engagement.

1. Personalized and intuitive digital experiences

To run a successful insurance business, you need strong customer and agent relationships. Liferay DXP provides a superior and more convenient experience for customers, with self-service capabilities, paperless statements, and lower call center resources. Agents benefit from engaging portals, granular user roles, collaboration tools, and a complete digital asset management system. Build strong customer and agent relationships with advanced features like personalized dashboards, powerful form builders, and robust data.

2. Integrating existing and new technologies

Liferay DXP solves the concerns of digital transformation and disruption of existing operations. The solution is compatible to integrate with your existing legacy systems and critical applications, ensuring your day-to-day operations remain unaffected. Liferay DXP’s development workplace, OSGi and development standards are safe and seamless digital transformations.

3. Ready for future innovations

The insurance industry is in a state of constant flux with the continuous advancements in InsurTech, IoT, and telematics. But Liferay solution keeps adapting to stay relevant in the competitive market, allowing you to take advantage of its evolving technology. With a powerful back-end architecture, Liferay DXP provides an array of flexible APIs to meet your custom requirements.

4. Seamless customer experience across all touchpoints

By providing a single platform for managing customer interactions, Liferay DXP enables you to deliver consistent and relevant content to customers across all touchpoints. This improves customer experience by ensuring that customers can easily access the information they need, whenever and wherever they want. Additionally, optimize your customer engagement by leveraging data analytics and insights to tailor content and experiences based on customer behavior and preferences

5. Streamlined communication channels between insurers and customers

With Liferay DXP, insurers can create a central repository of customer data, allowing you to quickly and efficiently respond to customer queries and concerns. It also integrates with a variety of third-party tools and applications for you to leverage its existing technology advancements, streamlining your workflows and automating processes.

6. Smart, personalized recommendations with relevant customer insights

Having a centralized platform makes it easier to manage, access, and analyze customer data. The platform allows you to make more personalized interactions with customers, as you can better understand customer preferences and behaviors using real-time insights. With a complete view of customer data, deliver customer experiences and ultimately, increased customer loyalty and revenue.

7. Customer-centric approach for increased sales and customer retention

Liferay DXP’s analytics capabilities provide businesses with valuable insights into customer behavior and preferences, enabling them to optimize their sales and marketing efforts for better results. Leverage its robust features such as content management, customer data management, and marketing automation to engage your customers in a meaningful way and build lasting relationships.

Common insurance use cases with real-life examples showcasing the success of Liferay DXP

Liferay DXP offers scalable and flexible features to modernize your operations. Furthermore, it can improve business performance and enrich user experiences for customers, agents, and employees.

1. Customer Self-service Portal

Online self-service is a crucial factor for 38% of policyholders when selecting an insurance provider. Apart from attracting digital-first customers, they also benefit in:

Reducing customer service expenses
Improving agents and employee support
Personalized features for clients
Superior customer experiences

For instance, CopperPoint Mutual Insurance leveraged Liferay solutions to build a customer portal for their agents, employees, and customers. It is equipped with self-serve registration, personalized content, and an updated architecture, enabling quick and easy function building and publishing.

2. Agent Portal

An agent portal simplifies communication and processes for field agents, empowering them to work more efficiently. This results in:

Faster quote generation
Increased policy sales
Real-time communication with colleagues, partners, and agents
Better customer service
Improved renewal rates

For instance, upgrading the agent quoting system enabled West Bend Mutual Insurance Company to provide faster quotes, increased efficiency, and enhanced ease of use for agents. This resulted in reduced wait times for customers, more online quotes, increased new policy sales, and overall growth for the company.

3. Collaborative Intranet for Digital Workplace

For better customer service and streamlined communication, your employees need an intranet solution. Build a unified digital workplace, consolidated with important documents and data to manage insurance claims and underwriting with forms and workflows, resulting into:

A customer-centric workplace
Excellent customer service
Increased sales and profitability

For instance, Maiden Global Servicing Company transformed its outdated intranet to a responsive web experience using Liferay. The solution enabled the company to better support regional and specialty insurers’ reinsurance and capital needs, enabling permissions for the site and role-specific content and building a single location for employee support.

4. Omnichannel Experiences

Keep your business afloat by delivering personalized and connected digital customer experiences across all your touchpoints, which leads to:

Increased customer satisfaction
Improved sales and business operations efficiency
Cross-channel customer insights
Consistent brand experiences

For instance, Britam, a financial solutions provider in Africa, built a new Partner Service Portal, empowering brokers and agents to manage insurance purchases, easily quote clients, access business applications and information, and increase sales growth and profitability for both parties.

5. Modernize Business Processes

Bridge the gap between old and new technologies to empower insurance firms and revolutionize their digital business practices. Integrating all technological resources into a contemporary, cohesive system can:

Unite segmented systems and data
Expand the benefits of existing legacy systems
Streamline business processes by digitizing them

For instance, MIF needed to transform its member portal to enhance security, performance, and scalability. With Liferay, MIF integrated existing business applications and web services, digitized business processes, improved productivity, and implemented a scalable portal.

Other lesser known use cases include:

6. Underwriter Portal:

The Underwriter Portal unifies data sets and functions from multiple systems to create an exceptional user experience for insurance underwriting teams. This innovative tool streamlines operations, enhancing operational efficiency and customer outcomes.

7. Policyholder Mobile App:

Get the same self-service support on mobile phones and tablets as the policyholder portal, enabling insurers to meet their policyholders’ needs anytime and anywhere.

8. Provider Portal:

A portal for health insurers to facilitate self-service functionality for medical and dental providers with capabilities such as member and benefits verification, claims processing, billing, and pre-authorizations, among others.

9. Employer Portal (or Group Portal):

It provides employer groups with self-service functionality for tasks such as online enrollment, contract maintenance, benefit inquiries, reports, premium payments, and more, helping insurers to streamline operations and enhance customer satisfaction.

10. Customer Service Department Portal (or Call Center Portal):

By aggregating various tools and information into a single portal, this platform provides insurers with access to a knowledge base, a performance dashboard, and customer service functionality.

11. Claims Portal:

A tool to streamline the claims management process by providing the claims and customer service teams with a unified view and empowering insurers with enhanced operational efficiency and customer satisfaction.

12. Websites:

Create a single, unified website, or separate websites for different audiences, such as prospects, members, providers, employers, and brokers.

To sum it up, the insurance industry is facing unprecedented challenges due to emerging InsurTech startups and evolving customer expectations. To stay competitive, insurance companies need to adopt modern business processes and advanced technologies, which is where Liferay DXP comes in. The platform offers a range of digital solutions that can help insurers overcome their challenges and drive exceptional business benefits, including improved customer experience, increased efficiency, and higher sales and retention rates.