Business process reengineering was a consulting fashion in the early 1990s that spurred many companies to purchase their first ERP systems. BPR proposes a fundamental redesign of core business processes to achieve substantial improvements in market and customer responsiveness, productivity, cycle times and quality. ERP systems support business process reengineering by guiding the step-by-step execution of the redesigned process to ensure that it is performed consistently. They also automate the handoffs between individuals and departments to accelerate completion of that process.
Topics: Big Data, data science, Mobile, Customer Analytics, Customer Experience, Machine Learning, Office of Finance, Wearable Computing, cloud computing, Continuous Planning, Business Intelligence, Data Integration, Internet of Things, analytics, Financial Performance Management, digital technology, Digital Marketing, Mobile Marketing, Digital Commerce, Operations & Supply Chain, Enterprise Resource Planning, Machine Learning and Cognitive Computing, ERP and Continuous Accounting, Sales Planning and Analytics
In tracking NICE for a decade I have seen the company grow, through a series of acquisitions and product developments, from a vendor largely of workforce management systems to one that offers a full suite of workforce optimization products. It is now advancing what I call a customer experience platform that builds on top of my last coverage of it advancing its efforts. This includes systems to manage assisted channels of engagement (primarily the telephone), digital channels of engagement, workforce optimization, advanced analytics and tight integration with business applications such as CRM. NICE is on the road to building such a platform using existing and newly developed products and those that it recently acquired from Nexidia and inContact. It will take time before a fully integrated platform is available, but the company has already taken steps toward this goal.
Topics: Big Data, Customer Analytics, Customer Engagement, Customer Experience, Mobile Technology, cloud computing, Analytics, Customer Service, Contact Center, CRM, workforce optimization, digital technology, Collaboration for Business
I am happy to provide my personal perspective on the potential of sales organizations, processes and technology to supercharge business activity in 2017. The sales processes of organizations – whether they involve digital commerce or direct or indirect physical selling – should be part of continuous optimization efforts to reach maximum results. To do this, the people leading and running sales processes must be able to use technology that supports their responsibilities and analyzes the crucial information coming into the business. For almost 15 years, we have advocated for sales applications and tools that are necessary to optimize sales effectiveness and improve the outcomes of their sales efforts. The available portfolio is much larger than sales force automation (SFA) and involves more than the continued use of CRM, which has clear limits in its ability to manage customer relationships. The applications on offer include many facets of sales: coaching, compensation management, contract management, configure price quote (CPQ), forecasting, quota and territory management, planning and optimization, pricing and revenue optimization, and target or market intelligence. New applications designed for sales also enable digital effectiveness that can transform organizations. Let me provide my perspective on six topics that are shaping the way sales can and should operate in 2017, and which are part of our sales research agenda for the year.
Topics: Big Data, Sales, Machine Learning, Mobile Technology, cloud computing, Product Information Management, Sales Performance Management, analytics, digital technology, Billing and Recurring Revenue, Digital Commerce, Operations & Supply Chain, Sales and Operations Planning, Machine Learning and Cognitive Computing, Sales Enablement and Execution, Collaboration for Business, Sales Planning and Analytics
More businesses are using software to implement and support a strategic pricing strategy designed to optimize revenue and margins in business-to-business (B2B) transactions because it can help improve results at the bottom line. “Optimize” in this instance means managing the trade-off that usually exists between revenue and profitability objectives in order to support a company’s strategy and capabilities in a given market. Business-to-business pricing management is Ventana Research’s term for such processes and applications. Software built for this purpose centralizes control and enforces consistency in pricing while assisting sales agents in negotiating prices that achieve desired business objectives. It enables agents to use techniques that can increase the revenue from a transaction, the margin on the sale or the probability of closing the sale.
Topics: Big Data, data science, Office of Finance, cloud computing, Sales Performance Management, analytics, Financial Performance Management, sales, Price and Revenue Management, Pricing and Promotion Management, Sales Enablement and Execution, ERP and Continuous Accounting
Until recently most organizations deployed systems on their own premises to build communications and contact center infrastructures, which often required them to integrate products from several vendors. In the past few years many vendors have moved their systems to the cloud, and others have begun as cloud-based suppliers. This trend has opened up the opportunity for more organizations to take advantage of modern communication systems and contact centers. Using the cloud for either, or both can save money and resources, reduce risk, and make available more integrated, multi-channel systems. While the adoption of such systems has undoubtedly increased and is likely to continue to do so, our benchmark research into next-generation contact centers in the cloud finds that many organizations still prefer to remain on premises, and adoption of cloud-based systems occurs on a case-by-case basis. In addition, many organizations look for vendors that support multiple models so they have the option of starting out using one model but transitioning later to another, including to a hybrid model in which some systems are on-premises and others are cloud-based..
Topics: Big Data, Mobile, Customer Analytics, Customer Engagement, Customer Experience, Machine Learning, Wearable Computing, cloud computing, Business Intelligence, Collaboration, Internet of Things, Contact Center, workforce optimization, analytics, Digital Commerce, Subscription Billing