At its 2004 Leadership Summit, PeopleSoft launched its Enterprise CRM 8.9, which includes major usability enhancements, Prescriptive Analytics, new Customer Portfolio Management and Partner Relationship Management products, and new industry-specific solutions.
In total, PeopleSoft Enterprise CRM 8.9 offers 15 new products, three new industry solutions, and more than 700 new features.
The new release includes the following enhancements:
* 38% improvement in usability (faster average time to complete 151 key CRM user tasks).
* 46% reduction in clicks required to perform business tasks.
* 30% faster performance.
At the core of PeopleSoft Enterprise CRM 8.9 is a decision engine. With PeopleSoft Prescriptive Analytics, Enterprise CRM 8.9 introduces a significant advancement in analytic technology. The solution takes analytics from predictive - the identification of customer behaviour and expected outcomes - to prescriptive - taking knowledge and turning it into informed action.
PeopleSoft Prescriptive Analytics includes numerous predefined processes and events. Once a process is initiated, the analytic framework assesses key metrics, such as customer value or churn, to generate the most appropriate customer response. In addition, companies can define their own custom application triggers to support enterprise-specific business processes. PeopleSoft Prescriptive Analytics is embedded in all PeopleSoft Enterprise CRM 8.9 applications.
Traditional CRM solutions promise to help organisations manage comprehensive customer strategies. The reality is most deliver simple business process automation that treats everyone the same.
PeopleSoft Customer Portfolio Management, a new module in the Enterprise CRM 8.9 suite, enables companies to determine the value of each customer, develop customer segments based on that value, create differentiated plans for each segment, and act on them. This capability also allows companies to share common customer segments across marketing, sales and service departments. The result is stronger customer relationships and increased customer profitability.
"Companies have become cynical about the potential benefits of CRM because, for the most part, they are using the technology to automate customer service processes rather than to understand their customers and provide service based on that understanding," says Steve Bonadio, vice-president for research house, Meta Group. "The real value of CRM will only be realised when companies apply their CRM solutions strategically and get back to customer relationship basics: improved customer profitability aligned with IT and business strategies."
PeopleSoft Partner Relationship Management (PRM) enables companies that sell through channels, brokers, dealers, agents, and other third-parties to more effectively manage their partner relationships. The new solution supports the partner lifecycle with a set of partner management capabilities, an integrated suite of operational and transactional applications, and built-in security features.
PeopleSoft PRM also enables companies to plan partner programmes, set and track objectives, and more effectively recruit new partners. In addition, the solution determines where investments should be made and what partner relationships should be terminated. It comprises the following new products: Partner Platform, Partner Sales, Partner Commerce, Partner Marketing, Partner Service and Partner Planning.
Building on PeopleSoft`s existing CRM solutions for the insurance, communications, energy, financial services, high technology, manufacturing, and education and government industries, PeopleSoft is expanding its industry footprint with three new solutions:
* PeopleSoft Revenue Management: Provides a single platform that integrates enterprise-wide customer care information, complex rating, high-volume billing, and collections capabilities.
* PeopleSoft Student Lifecycle Marketing: Enables public and private colleges and universities to implement more effective interaction strategies across all phases of the student lifecycle - recruitment, registration, retention, fund-raising, and continued education.
* PeopleSoft Wealth Management: Enables relationship managers, financial advisors, investment specialists, and private bankers to automate business activities and guide business decisions and customer interactions based upon a comprehensive understanding of the client.
"With PeopleSoft Enterprise CRM 8.9, we`ve delivered the most usable, most flexible, highest performance CRM solution on the market," says Mike Evans, MD of PeopleSoft Africa. "Our new release nails the user adoption issues that have plagued many CRM implementations."
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