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Over the years, innovations in CRM has led to an evolution of CRM technology capabilities to provide novel ways of improving customer experience. As customer expectations grow, the need to provide a wider range of channels for customer interactions with organisations also increases.
CRM technology has changed from being just a client’s contact database to being an essential tool of business relationship intelligence. Due to this transition, we have identified major CRM technology innovation trends that are helping various organisations achieve better customer experience (CX), identify more productive ways for customer engagement, and enhanced automation of customer relationship management.
One of the major CRM innovation trends is artificial intelligence (AI) embedded CRM software. CRM developers and vendors have leveraged on AI to optimise customer interactions. According to Teradata’s “State of Artificial Intelligence for Enterprises” report, 80% of organisation representatives interviewed were in the process or have plans of implementing a form of AI in their organisation. AI can assist CRM platforms in the area of customer service with deployment of AI chatbots to resolve service requests, provide insights on customer data to follow upon the leads.
Another trend is using CRM in advancing process automation in organisations. CRM solutions are beginning to offer Business Process Monitoring (BPM) capabilities such as task routing, resources availability and monitoring of events. Data Integration is also a CRM innovative trend as CRM systems deals with and interpret huge amount of data.
The latest CRM solutions have integrations with ERP systems as well as integration mechanisms such as APIs which had led to the emergence of CRM integration with third-party systems and Internet of Things (IoT). CRM solutions particularly cloud based, offer protocols that enables data access via web services. This allows organisations to interact with other solutions and organisations, to share customer information and resolve service requests rather than having to makes phone calls and send emails. This increase efficiency in customer service.
Contributed by Mfon Ikott, IT Solutions Architect