I recently wrote that Infor aims to reinvent business applications and its new developments make it a vendor to watch. I was therefore intrigued to have a demonstration of its latest marketing products, Infor Epiphany and Infor Orbis Marketing Resource Management. These are grouped on its website under customer relationship management, and I don’t usually spend much time on this category of products since for my research it is too inwardly focused and doesn’t impact the customer experience a great deal. However this briefing showed that for Infor it is not that simple.
I have written lately about how digital customers change customer engagement. It’s no surprise that at the heart of this change, as well as many others that impact business, is the Internet. Along with smart mobile devices, the Internet has changed the ways consumers engage with each other and businesses. In buying products and services, digital customers prefer to research them on the Internet, then buy online or at a store. They expect all activities to happen fast, perhaps in real time. Online commerce has helped support this business model for many companies but has not been as nimble to meet the subscription and billing demands needed today. If not, the Internet provides ways of helping customers express their opinions and feelings often and immediately. To adapt to this business will have to be able to support new methods of selling products and services to the market and support the rapid subscription and billing needs to capture revenue potential at any time of the day.
Topics: Sales Performance, Social Media, Customer Analytics, Customer Experience Management, Social CRM, Self-service, Operational Performance, Cloud Computing, Customer & Contact Center, Customer Service, 360-degree view of the Customer, Call Center, Contact Center, CRM
Integrated risk management (IRM) was a major theme at IBM’s recent Smarter Risk Management analyst summit in London. In the market context, IBM sees this topic as a means to differentiate its product and messaging from those of its competitors. IRM includes cloud-based offerings in operational risk analytics, IT risk analytics and financial crimes management designed for financial institutions and draws on component elements of software that IBM acquired over the past five years, notably from Algorithmics for risk-aware business decisions, Open Pages for compliance management, SPSS for sophisticated analytics, Cognos for reports, dashboards and scorecards, and Tivoli for managing all of this in a Web environment. Putting its software in the cloud enables IBM to streamline integration and maintenance, offer more flexible deployment and consumption options and potentially lower the total cost of ownership.
Topics: Supply Chain Performance, GRC, Bank, Chief Risk Officer, CRO, ERM, OpenPages, regulation, IT Performance, Operational Performance, Business Analytics, Business Collaboration, Business Performance, Cloud Computing, Customer & Contact Center, Data Governance, Governance, Risk & Compliance (GRC), IBM, Information Applications, Information Management, Operational Intelligence, compliance, Data, Risk, risk management, Algorithmics, financial services, FPM
Like every large technology corporation today, IBM faces an innovator’s dilemma in at least some of its business. That phrase comes from Clayton Christensen’s seminal work, The Innovator’s Dilemma, originally published in 1997, which documents the dynamics of disruptive markets and their impacts on organizations. Christensen makes the key point that an innovative company can succeed or fail depending on what it does with the cash generated by continuing operations. In the case of IBM, it puts around US$6 billion a year into research and development; in recent years much of this investment has gone into research on big data and analytics, two of the hottest areas in 21st century business technology. At the company’s recent Information On Demand (IOD) conference in Las Vegas, presenters showed off much of this innovative portfolio.
Topics: Predictive Analytics, IT Performance, Analytics, Business Analytics, Business Intelligence, Business Performance, Customer & Contact Center, IBM, Information Applications, Data discovery, Discovery, Information Discovery, SPSS
If you stop to compare communication preferences of the past to those of today, you can’t fail to notice some major changes, especially in younger generations. Talking on the phone – fixed or mobile – is in decline, as many people now prefer text messaging, chat and social media. We rely on the Internet to search for websites, run mobile apps and use social media. We watch less TV in real time, preferring to watch what we want, when we want to watch it and to skip advertisements. The same applies to newspapers, with many people preferring to have the news they want to see downloaded to their smart devices. Today, any email from someone we don’t know goes straight to the junk mail folder, and writing seems to be becoming a lost art. This is the world of the digital customer. Companies have to support digital customers while continuing to support others who still make phone calls, send email and even write letters. According to my research into next-generation customer engagement, most companies are not yet prepared to meet the expectations of digital customers.
Topics: Big Data, Sales Performance, Social Media, Customer Analytics, Customer Experience Management, Speech Analytics, Operational Performance, Analytics, Business Collaboration, Business Performance, Cloud Computing, Customer & Contact Center, Customer Service, Call Center, Contact Center, Contact Center Analytics, CRM, Text Analytics
Ventana Research defines workforce optimization as a set of processes and technology for customer agents that include interaction (call) recording, quality monitoring, workforce management, training and coaching, compensation management and analytics. My benchmark research into next-generation workforce optimization set out to discover the people, processes, information and systems companies are using to get more from their customer service agents, the benefits they have gained, their plans to change and the barriers holding back those changes. Our research projects apply the Ventana Research Maturity Model™ to evaluate the maturity of organizations in a given market or with respect to a business or IT process. In this case our analysis shows that based on current practices nearly half of companies are at the lowest Tactical level of maturity and only 13 percent have reached the highest Innovative level. Closer examination of the results shows that companies are least mature in their use of technology for workforce optimization, with half at the Tactical level. Much has changed in the way companies handle customer interactions. Two of the biggest changes I have seen in various research are that companies now support more channels of communication and more employees around the organization are involved in handling interactions, meaning companies need to review their workforce optimization systems and begin to take advantage of these advances. Yet the research shows that most of them aren’t yet doing that.
Topics: Sales Performance, Social Media, Customer Experience Management, Operational Performance, Analytics, Business Analytics, Business Collaboration, Business Performance, Cloud Computing, Customer & Contact Center, Customer Service, Financial Performance, Call Center, Contact Center, Contact Center Analytics, workforce optimization