With the challenges that organizations are facing these days - and with the memories of the recession still painfully fresh in their minds - it's no wonder that a growing number of executives are focusing intently on cutting costs, trimming payrolls, and "right-sizing" their operations. But a relentless focus on cost-cutting alone is not a formula for long-term success. What's needed is a more balanced approach - one that enables an institution not only to improve operating efficiency but also to upgrade its capabilities to respond to market needs and prepare for the future.
Equally significant are customers’ dramatically changing interests and preferences in terms of buying products and services, particularly the channels they use to access these products. These changing preferences are generating a constant demand for new technological capabilities, which carry their own cost pressures. Retailers must not only invest time, money, and resources into acquiring technology to provide better mobile access, they also must devote even more resources to address the significant security risks these new platforms introduce. Training is key to meet these demands.