Infor10 Enterprise Service Review

Customers have little tolerance for poor customer support after two decades of experience with online retailers on the world wide web.  Companies have had to make customer service a priority in order to survive.  Today’s customers are more informed, demanding, and less willing to buy a service or product without first reading of reviews indicating a company takes customer support seriously.  The competition is using technology in innovative ways to compete for customers. Despite these challenges, senior leaders and stakeholders want results quickly. So when marketers identify a qualified lead, it stands to reason that they should do their level best to maximize profitability. Unfortunately, the majority of them are not.  Infor’s products are quite valuable in this area however.

A recent study titled “Routes to Revenue” by the Chief Marketing Officer Council pointed out that over seventy five percent of senior marketers stated that they are not realizing the full revenue potential of their customers. The report reveals some alarming insight into why this is happening: Less than half, only 46.5 percent, of senior marketers say they have good insights into retention rates and customer profitability.

With the latest technological advancements in CRM, why are so many marketers still struggling to garner good insights? The CMO study maintains that three key obstacles stand in the way:

  • A lack of real-time data and analytics that capture insights from multiple customer touch points
  • Information being selectively gathered, inaccurate, or incomplete
  • Data being isolated and its use restricted across organizations. As a result of these obstacles, critical business decisions are made based on conjecture and not on empirical data and intelligence.

“The business of customer relationship management and the business of marketing have been  somewhat notorious for people making decisions based on what they think the market is going to do or what they feel will happen, instead of competing on intelligence, instead of competing on analytics,” says Tony Compton, director of CRM product marketing at Infor.  You may not be familiar with Infor or its offerings but you will most likely in the near future.  Former Oracle exec Charles Phillips is the CEO and a Member of the Board of Directors of Infor.

Companies can no longer afford to run their businesses this way. Marketers must be able to understand their customers’ needs and react to changing market forces. Fortunately, CRM solutions exist to help organizations improve their understanding of customers and markets and realize the full revenue potential of their customers. With the right systems and processes in place, companies can leverage real-time customer information from across the enterprise to present offers at the moment customer attention is at its peak. This is essential for companies looking to increase loyalty, enhance brand preference, and boost profitability.

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