THE BIG RESET

The experience we’ve all had during the Covid-19 pandemic has forced us to rethink and revisit our routines. We’re not out of the woods yet, but already we can see that businesses must emerge from this time leaner, cleaner, safer, and more efficient. I like to think of this opportunity as the Big Reset; in many ways, it’s one of the things that inspired me to start Confidence Systems in the first place.

Furthermore, as I reflect on 5+ years leading product development and engineering at Fiserv, the world’s largest fintech company, I remembered that businesses are challenged every day with how to survive, and rising to meet those challenges is what makes businesses resilient.

The Big Reset is an honest and straightforward look at the world around us. Businesses see that things can’t return to “normal.” They see that they have to be better and more transparent. They also see there must be more accountability at every step of the process. Confidence delivers on this promise. Confidence establishes an honest and open data-driven process that proves businesses are following through on promises and following guidelines for how they work. We deliver real-time status reports on how businesses are managing this compliance. The results: A dynamic scorecard that rewards businesses for how well they adhere to rules and regulations, and peace of mind for consumers that decide to patronize those companies.

 

Data doesn’t lie

Numbers paint a detailed picture of the environment we face today. One look at market data will tell you there’s an enormous opportunity here. A 2019 survey of 1,000 U.S. consumers found that 86% of Americans say transparency from businesses is more important than ever before and 85% are more likely to give a business a second chance after a bad experience – and stick by it during a crisis – if it has a history of being transparent.

Add to this a heightened need for peace of mind due to Covid, and right now is the perfect time for Confidence to debut. Compliance software and services are the big players right now, with one Australian company announcing an $800-million valuation (yes, you read that correctly).

Put differently, we are in the midst of a reset of epic proportions. The Big Reset.

 

My reset

I didn’t arrive at this line of thinking overnight; it happened over the course of several months, as my life changed dramatically due to the Covid-19 pandemic. Before the pandemic, I was on a plane to a different part of the world every week. I ate out at restaurants almost every night. I didn’t see my family very much. To be honest, I wasn’t exactly the poster child for being healthy. Then Covid hit. My travel stopped completely. Restaurants shut down, so we were forced to take in and—gasp!—cook. Suddenly I was with my family all the time, which was a wonderful and welcome change. I discovered new-to-me music. And I got healthier: I incorporated 5-mile runs into my daily routine and lost nearly 40 pounds.

Believe me, I’d rather we not be in the middle of a global pandemic. And I recognize how lucky I am to be able to embrace changes as a result of it—millions of others aren’t as fortunate. But the point I’m making here is about the benefits of those changes themselves. The pandemic triggered a reset for me. A literal do-over. And that’s when it hit me: This bizarro year has reset everything for everyone. It has forced all of us to adopt completely new routines.

 

Why routines matter

New routines are a good thing. The routine is our guideline—our guides for what to follow on a daily basis. Routines are what keep us in motion. They are what drive us to be productive and effective. On a personal level, routine helps us with mental stability. On a professional level, they help orient us to be productive. And from a logistical perspective, routines establish predictability and accountability in the way processes are done.

This last part is the heart of the matter. New routines for the business world are critically important—especially at a time when we need to make sure it’s safe to exist in the world outside our homes. Before the pandemic, businesses expected consumers to take their word for the way they complied with rules. Before the pandemic, there was no real system in place to prove to consumers that businesses were doing what they said they’d do. That’s what led to all those lawsuits.

Now, however, following the Big Reset, a new era has established new demand for a new approach and new routines. These new routines hinge on transparency, on fact. Now more than ever, the name of the game is trust.

 

How Confidence helps

Throughout my career I’ve been at the center of transforming the way people do things. My experience with GoPago enabled people to rethink the way they pay for everything from a cup of coffee to a car wash. That process always was rooted in trust. People had to trust that the new way was just as reliable as the old way, but better. This is exactly what we’re doing at Confidence. We’re incorporating technology to show at every step that businesses are doing what they say they’ll do—all in a way that consumers can review. Our process of enabling businesses to do things right delivers peace of mind to everyone involved. This is the new reality in a post-pandemic world.

None of this could have happened without the Big Reset. And so from this difficult time comes something necessary, something new. By focusing on trust and transparency and accountability, Confidence aims to give consumers and business owners the confidence that their transactions, interactions, and new routines will be safe and comply with associated guidelines and rules. We look forward to having you join us on this journey.

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