Customer Relationship Management (CRM) application plays a crucial role in managing customer interactions. Companies around the globe have leveraged CRM strategies to gain a competitive edge.
It covers critical customer-facing departments like sales, marketing, customer services, and more. The selection of the right CRM solution is a business priority to serve their customers better.
And, this blog will help in the digital transformation and empowerment of the CRM process.
Let’s, first of all, begin with the understanding of the customer’s major business challenges across the industries.
Having understood the business challenges every company would like to achieve and exceed the below results-
Most of the growing customers have understood that Unified Sales and Service Supports Customer Business Transformation in the modern world.
Oracle Engagement Cloud is a Software as a Service (SaaS) offering from Oracle which provides unified Sales and Service Capabilities, includes sales force automation to manage the full sales lifecycle along with the service management.
- Sales capabilities include –
- Leverage 360-degree overview of customers and accounts
- Manage the complete sales cycle –starting from lead to opportunity
- Track activities and manage calendars across the sales team
- Manage complex territory assignments and ensure accurate sales forecasting
- Manage partner and channel coverage and assignment, planning & marketing
- Share knowledge and enable partner collaboration for more effective selling and servicing of customers
- Negotiate the deal for improved margins, upsell/cross-sell opportunities, and optimal revenue
- Motivating the sales champions through deserved incentives for their achievements.
Sales Force Automation (SFA) –
- Sales Performance Management (SPM)
Partner Relationship Management (PRM) –
Service capabilities include
- Create and track service requests while adhering to SLAs and Entitlements
- Multi-channel interaction support including email, chat, co-browse, CTI
- Collaboration tools for sales and service alignment
- Find the right answers with Natural Language Search and Recommended Answers
- Author knowledge across multiple languages
- Create web and mobile self-service support pages
Multi-Channel Interaction Support:
Choosing the right CRM implementation can help the business increase sales efficiency, drive customer satisfaction, streamline business processes, and identify and resolve bottlenecks – all of which directly contributes towards the bottom-line revenue as well as assurance of repeat business.
CRM solutions are not just a nice-to-have but a necessity in a world where customer retention is of prime importance.
According to Gartner, Oracle Engagement Cloud is rated high as a Leader in CRM Sales Force Management (Figure 1) and CRM Lead Management (Figure 2).
As an Oracle Platinum Partner and preferred implementation partner for Oracle CX, SCM and ERP Cloud implementations, Trinamix, help global enterprises customize and integrate Oracle Engagement Cloud with other Oracle Cloud Applications or their existing enterprise applications to help them manage the entire customer relationship management lifecycle and make informed business decisions.
Trinamix Success Story:
A leading US-based distributor of over 500+ products worldwide recently went live with Oracle Engagement Cloud along with other modules like Inventory, Procurement, Order Management, Financials Cloud and Oracle WMS Cloud.
They migrated to Oracle Engagement Cloud from their legacy Sage CRM. Trinamix suggested the best practices and implemented sales and services capabilities.
Customer engagement and opportunities management are tracked very well which was their major challenge. This change helped in a 30% increase in their sales revenue.
About the Author
Praveen Kumar has more than 10 years of experience in managing and implementing Oracle CX Cloud Suite of Applications. He is qualified BE in Mechanical Engineering and MBA in Sales and Marketing Management and his focus areas are advisory and solutions consulting for organizations in Sales, Marketing and Services Management.