CRM: Going Digital To Improve Customer Satisfaction

In this digital era, the cost of acquiring a new customer is substantially higher than the cost of retaining an existing one. So, when it comes to prioritizing and organization your customer database with leads and existing relationships, having the right Customer Relationship Management (CRM) system in place is essential. With the internet being the backbone of every communication, using CRM systems to keep constant interaction, experiences and satisfaction of customers must be closely monitored and the system must also be utilized to make personalization and automated messaging more efficient.  Virender Jeet, Sr. VP Technology at Newgen Software, shares that being a business in the digital era, CRM can be your game changer. Here are some ways how:

  • Simplified Customer On-Boarding: CRM can help the customers understand the products and services of a company better.
  • Omni-Channel Experience: Reaching out to your customers with the help of multi-channel interaction helps forward the key goals of targeting, acquiring, retaining, understanding and collaborating with your customers.
  • Visibility, Accountability, and Faster Resolution: A CRM system which helps track all activities related to a case in terms of progress and resolution, and in turn provides a complete view of all interactions and customer relationships, can help bring down the turnaround time massively.

A CRM system is an investment that makes the most sense because it eliminates the complexities associated with customer management and helps to create personal connections with customers making it possible to reach out and connect with customers at all the times.

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Infor Continues to Modernize Revenue Management Functionality for Hoteliers

Infor recently announced the completion of a transformative upgrade to Infor EzRMS Mobile as well as the Infor EzRMS Pricing Engine – both key components of the company’s overall portfolio of Hospitality Revenue Management Solutions. The newest iteration of Infor EzRMS Mobile is one of the only revenue management mobile applications that allows users to view their most important metrics instantly, including total revenues, and adjust pricing and control decisions, while checking what competitors are doing, and update selling strategies on the go. This sophisticated Pricing Engine is infused with AI capabilities and addresses the industry need to deliver optimized pricing recommendations, and to support flexibility needs for different properties and markets. The application automatically calculates demand forecasts for the future use hotel rooms, and recommends the appropriate selling strategies, such as open/close rates, stay controls, open/close room categories, and overbooking levels-maximizing yield and profit. Infor EzRMS Mobile is available via Google Play Store and Apple App Store.

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Don’t be intimidated, Embrace Technology

We are living in the digital age, and the best innovations are showing up every day. If your business is stuck in it’s traditional ways, you can get left behind. The problem, though, isn’t the lack of available technology, but the overwhelming feeling of learning and implementing something new. The key to lessen the intimidation of technology is to be smart about what tech to employ and whether you are up to the task of administering and maintaining that technology. There is no rush to change everything to tech, but there is a need to replace legacy systems with newer, (and often times) easier ways of doing things. Keeping up with emerging technology is like a full time job. Software, mobile devices, and servers are constantly advancing, always needing updates. So how do you keep up? Once you learn about your new technology at the very least the basic level, utilize your IT guys and make them the experts of your new technology and your go-to guys for any concerns. Startups and existing businesses today need technology in their organization to stay relevant. If you’re still a bit overwhelmed by this tech talk, consult with a technology expert and see how you can make some technological changes to your business.

STL Partners in Transformation with Infor

Sociedad Textil Lonia (STL) has partnered with Infor Retail CloudSuite and Infor GT Nexus to support its innovation and transformation initiatives. With over 800 stores in over 50 countries, and managing two leading fashion and luxury brands Purificación García and CH Carolina Herrera, STL plans to establish an Innovation Center in Barcelona to focus on customer experience in the European fashion industry. Carlos Fernández-Couto, COO, at STL says of the decision, “Our efforts, supported by Infor, will power growth for years to come, delighting our customers and empowering our employees.” Furthermore, Corey Tollefson, SVP and GM of Infor Retail, comments, “This partnership is based upon relationships, trust, and industry proven solutions such as Demand Management and Infor GT Nexus Supply Chain Network which are key strengths within our Infor Retail CloudSuite.” Infor and STL will also collaborate on the development of new customer-centric capabilities that connect the fashion and retail business process from design and production to distribution and customer management.

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Infor Retail Continues to Lead Retail Renaissance

The new year will see a continued growth in online retail and Infor is ever present in this sector. In the past year, Infor saw a 124 percent growth in cloud transactions, which helped retailers move from their legacy solutions to the modern, cloud-based retail focused solutions to further support and understand their customers. In today’s world, the mobile devices can do anything – stream entertainment, talk to friends and family, and of course, ecommerce. Today’s customer demands personal experiences from browsing to follow up communication about any purchases they make. “The concept of ‘Commerce Everywhere’ has forced retailers to dig deeper into their operations to better understand and reach target customers, partners and employees,” said Corey Tollefson, senior vice president and general manager, Infor Retail. “Infor has made significant investments since its inception to help foster the Golden Age of Retail. In this era, the physical store and its associates will take on a greater role as the store is not only a channel to purchase product but also a node in the network to ship, sell, and return products as well,” adds Erick Rowe, vice president, Infor Retail. Infor’s Retail solutions continue to support fashion, retail and grocery partners on a global scale, and will continue to help those who want to modernize operations and take advantage of the latest consumer and business technologies – mobile, social, science, and cloud.

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7 CRM Trends That Will Dominate 2019

Before the rising popularity of the internet, products and services were market centered. Then came the internet, and it was a game changer. In the early 2000s, the customer became more educated and aware of things that the demand for better value for the price was key. The internet introduced quicker competitor comparison, increasing customer choices. This trend has continued to evolve to today’s society, which is the era of relationships. Businesses listen to customers and try to meet their needs. Customer Relationship Management (CRM) has played an indispensable role in helping businesses achieve optimal relationships. CRM works on two frameworks – operational, which concerns the automation of business processes to build long-term, profitable relationships with specific customers, and analytical,  which focuses on analyzing customer characteristics and behavior to decide how to allocate resources to the most profitable customer group. Both these frameworks will get a boost in the coming years. These frameworks will encourage the following CRM trends that will dominate 2019.

  1. Data Mining Will Gain Prominence
  2. Social CRM Will Boost Relationships
  3. Companies Will Go Beyond Expectations
  4. Response Times Will Come Down
  5. CRM Adoption Will Increase
  6. CRM Will Become Easier to Use
  7. Cloud Will Stay a Popular Platform

It’s 2019 and customers have more power to shift the market and trends. They are calling the shots about which products and services that the marketplace should offer. And businesses are adjusting their business models to keep up, all thanks to CRM. For the businesses who embrace this software, they will gain better relationships with their customers in years to come.

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A review of 2018, a preview for what’s next: Voice technology

PhocusWire, a technology, distribution and travel news outlet, spent 2018 pointing out the latest trends in the industry. Taking a look back, the main theme they found was the emergence of voice technology. Expedia created browse and book capabilities using Google Assistant, and Amazon rolled out Alexa for the hospitality sector, and rolled out many Alexa-enable products throughout the year.  Google and Alibaba have developed Artificial Intelligence (AI) voice assistants, and Facebook introduced Portal. These devices will no doubt be the most popular gifts this holiday season. Looking ahead to 2019, voice technology will make more strides, and new entrants will be introduced to compete with the market. Say It Now CEO Charlie Cadbury shares that tech giants Samsung and Apple will shake things up with their voice-enabled products (which will most likely be compatible with their smart and mobile devices). Cadbury also explains that those brands who are not getting in the game now will miss out.

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The profound impact of technology on today’s workplace

We’ve been living in the digital age for quite some time now so we cannot deny that the workplace has dramatically evolved. The presence of technology has made racial changes in workplace dynamics – from the way we communicate to the automation of certain processes. Robert Half Technology suggests that CIOs believe that factors such as the Internet of Things (IoT), cloud computing and automation are having a profound impact on staffing, as well as on the scope of the roles and skills required for workplace efficiency. Additionally, technologies such as artificial intelligence (AI) are automating manual tasks in operations which require learning and help to eliminate human error. While many may see the role of AI as a threat to human talent, it is not. In fact, AI can automate time-consuming, repetitive tasks like mass data input and retrieval, and minimize errors. This allows employees to utilize their skills in other tasks. Technology not only changed the day-to-day operations in the workplace, but has reshaped the skills required for the workforce to succeed in certain areas of business. Notably, understanding of the use of such technologies is the most important skillset. But this doesn’t mean that “soft skills” are irrelevant. Consequently, soft skills are more important than ever. According to research done by Matt Weston, MD and Robert Half UK, a significant proportion of CIOs cited strategic planning (50%), problem-solving (40%) and interpersonal and communication skills (35%) as crucial for success. Technology will keep influencing businesses and continue to shape the workplace, But human intelligence will remain a very desirable skill for successful organizational management.

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5 Steps To Designing A Successful Omni-channel Strategy

In today’s fast paced, technology driven world, connecting with customers is key. With the rise of digitization, customers expect quick, personalized services tailored to their exact needs. In order to acquire new customers and make sales, retailers much understand that the customer is in control, which is why the most successful retailers will offer their customers more flexible and personalized shopping options. Most retailers are familiar with BOPIS, or “Buy Online Pickup In Store”. However, BOPIS only represents one possible avenue. It is important for companies to understand the journey of their customers, and prioritize investments for greater return. This will increase overall customer satisfaction, and omni-channel shoppers have a greater chance at being repeat customers to those businesses as opposed to those that use only one channel. Below are five steps to help design the most effective omni-channel strategy:

  1. Really get to know the customer
  2. Plan your Omni-Channel Paths to Purchase
  3. Ensure Inventory Visibility
  4. Assess softwarte capabilities
  5. Execute Faster by planning better

Customer expectations constantly change technology faster than ever before. Retailers need to catch up with these changes by creating a holistic omni-channel strategy to meet the ever-growing customer standards.

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BlackBerry becomes a HIMSS Analytics certified consultant on infrastructure

The once widely popular smart business phone maker is still around, and will become a valuable asset to hospital infrastructures.  BlackBerry has signed on as a HIMSS Analytics Certified Consultant and will help direct healthcare organizations through the HIMSS Infrastructure Adoption Model (INFRAM). INFRAM is an eight-stage model (0 – 7) that allows healthcare IT leaders to map the technology infrastructure capabilities needed to reach their organization’s clinical and operational goals, while also meeting benchmarks and industry standards. Sara Jost, global healthcare industry lead at BlackBerry, says that “BlackBerry will assess vulnerabilities in a hospital’s infrastructure, devices, and configurations, using a wide range of penetration testing, social engineering techniques, and physical security assessments.” Even though Blackberry has been less relevent in the mobile phone market, the company’s cyber security is still very strong and in demand. HIMSS Analytics Executive Vice President Blain Newton says, “With BlackBerry’s deep cybersecurity expertise and footprint in highly regulated industries we’re confident that having BlackBerry at the table will ensure the INFRAM is the gold standard for running a scalable and secure organization.”

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