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In the last ten years, customer relationship management (CRM) has emerged as
a powerful business trend across the globe. CRM is here to stay but is about to
evolve into a new dimension focused around one of its key users, the
salesperson. For years, CRM has focused on pulling together and exploiting large
quantities of information with powerful tools to analyze customer behavior and
support service agents in effective decision making. Till date, CRM systems have
taken a regimented approach to the data gathering process, delivering
ever-busier screens to users and demanding mandatory inputs in numerous fields.
User adoption has often been driven by compulsory edicts from senior management,
rather than a satisfying user experience.
Data and process-centric approach can be considered the necessary precursor
to what is set to become the next evolutionary step in customer management
technology. Today, we have the opportunity to take advantage of new ways of
gathering and distributing customer information and intelligence.
Web-enabled Consumers
In todays world, the rise of consumer-powered web platforms has become a
reality with the success of websites like LinkedIn, Facebook, Wikipedia and
eBay. The new models and experiences that these websites deliver are not only
here to stay, but are becoming a de-facto standard by which every other
applicationbe it within the enterprise or externallyis beginning to be judged.
Developers need to appreciate that the static HTML web page is no longer
acceptable to users and customers of their software. They will have to find more
engaging ways of capturing and delivering information.
The extraordinary growth in usage of social networks and mediawhether blogs,
wikis or any other type of two-way, user-driven community toolis an emphatic
demonstration of how peoples expectations of technology have changed. The key
to their success is that people are the contributors and controllers of these
information repositories, and the accumulation of knowledge spreads freely in a
viral manner. This further making social networking platforms almost certainly
the most powerful environment for data capture ever created.
How does this affect business applications and the world of CRM? Software
providers are beginning to look at web 2.0 technologies and the models and
experiences they deliver, and are envisioning how they could be practically
applied in the business space.
One example is the use of mash-up technology to collate both internal data
and external information sources for decision making tools that can make
informed recommendations and support sales priorities. Another is the lesson
provided by social networks in gathering shared information while rules on data
visibility control access to key information and maintain data security.
Collaborative participation in blogs and wikis, and the use of tag clouds and
social ratings to classify and rank information could deliver a whole new level
of insight into customers, product lines or a particular piece of collateral.
Benefits @ Web 2.0
So whats the benefit of these new technologies to the CIO and his
application users? The usefulness, interest and excitement that people find with
web 2.0 applications have triggered exponential growth and adoption. And theres
little question that this is also becoming a major trend inside companies. For
example, wiki platforms and blogs have already begun proliferating inside many
businesses, and their ability to foster a new level of information transfer and
user satisfaction has now been understood and accepted by the corporate
community.
Building on these initial capabilities in the enterprise provides the CIO
with the potential to deliver a range of benefits over and above those available
from business applications today. Huge upturns in user adoption, viral
distribution of knowledge and information, increased insight into the business,
and the ability to combine external and internal information are just a handful
of examples of how this new wave of technology could help businesses to perform
better.
In the past, CIOs have struggled to identify platforms, engines and
algorithms required to extract intelligence from the wealth of information held
within the business. In essence, they lacked the tools that would enable them to
capture the largest potential source of intelligence availablethe companys
employees and customers themselves. Introducing low cost, simple systems that
facilitate easier collaboration and deliver genuine commercial insight is now a
real possibility, and one thats been tried and tested in the Internet world and
found to deliver beyond all initial expectations.
Web 2.0 and enterprise 2.0 applications bring with them the opportunity of
providing users with new ways to interact with information. A vast array of
options exists to deliver information faster and in formats that are far easier
for the end user to consume. At the very heart, CRM is all about knowing your
customer better, which requires the right information, at the right time,
delivered in the right way.
It is fair to say that CRM packages of old have not always excelled in this
area.
Unfolding the Future
The future, however, is looking extremely exciting for those vendors who
grasp the potential of a technologys new wave, understand how it can address
the challenges of the modern CIO and their enterprise, and have a vision that
can deliver.
From the more innovative IT vendors, we are already seeing applications of
new technology that deliver systems designed from the perspective of what
salespeople need. This trend will grow through 2009, and beyond. We will see
more and more applications designed to present information in a format usable to
customer-facing personnel, not just accountants.
Applications will be highly customizable and easily configured in a way that
does not rely on an IT expert to make it valuable. New systems will be provided
that are able to perform specific key tasks, efficiently, without high levels of
needless interaction. Simply put, users will be able to work quickly,
intuitively, and efficiently, drawing on information and comments from all
appropriate sources. Then, using simple links bring it into other applications
of their choice.
Like Facebook and LinkedIn, user adoption of these new solutions will be
driven by a social desire to contribute rather than a management edict to
comply. Over-engineered complexity will give way to innovation and simplicity,
which will be the key to delivering the next phase of business value from CRM.
What is becoming clear is that organizations must heed the business
revolution that is underway. No longer can they operate in the same way they
used to; meet clients, determine customer demand and orders before going back to
the office to determine stock levels and sealing the deal. They must now
leverage technology tools to foster increased collaboration, which in turn
drives productivity and effectiveness. And the best way to reach out to them is
to communicate with them in an online environmentan environment they are
comfortable with. This can be effectively done by establishing an online
presence and by adopting web 2.0 tools like social CRM.
In order to address the rapidly changing business requirements, Oracle has
recently introduced the Oracle CRM On Demand Release 16, equipped with advanced
customization capabilities, partner relationship management and a single tenant
standard edition. It enables customization of applications across different
interface, business process and data layers. With the new range of software,
users are equipped with the most relevant information at their fingertips, thus
saving them from going through a record to spot the necessary details, which in
turn enhances end user productivity.
Further, Oracle has also introduced five additional functionalities on Oracle
CRM On Demand Release 16. This new range of applications facilitates customers
increased loyalty, accelerates payment collection and reduces costs. Also, it
enables the sales force to negotiate deals more effectively and maximize their
profitability.
The emergence of the new wave of CRM can be understood by the fact that in
India, the adoption wave has already started with companies like Macmillan India
and Times of Money investing in CRM On Demand software from Oracle. And the
adoption of web 2.0 CRM services is only set to increase in the coming days.
Prasad Rai
The author is senior director, CRM on demand, Asia of Oracle
maildqindia@cybermedia.co.in
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