Siebel Systems showered the industry with 20 analytic applications at its annual user conference on 4 October.
The applications are classified into customer analytics, financial analytics, supplier and supply chain analytics and employee performance management.
The company said these applications will help its users better understand its customers, which will lead to greater customer satisfaction, loyalty and result in financial growth.
Mike Lawrie, CEO of Siebel, said companies are no longer decreasing spending but are looking to grow. Siebel sees the front office and not the back office as the place where that growth will begin.
“But growth is harder to achieve because the markets are more mature and there are more competitors,” he said.
Additionally, Lawrie said the IT industry has yet to experience the impact of the maturing Chinese and Indian markets. Because China and India are producing IT professionals in droves, those markets have a lot of potential to put a dent in companies’ revenue throughout the rest of the world.
The drive for efficiency has led to customer neglect, Lawrie said, but users must have the ability to translate their technology investments into business value by effectively analysing their data. Siebel's CRM tools can resolve this.
The Alberta Treasury Branches (ATB) of Edmonton is a government-owned bank with about 600,000 customers. As a result, Ken Casey, senior vice-president retail banking delivery at ATB, said because it can’t compete with Canada’s big five financial institutions on price, it can only compete on service.
While most banks are shutting down branches, forcing customers to rely on automatic banking machines (ABMs) and internet banking, ATB is opening up more branches every year and increasing its front-office interaction with its customers, Casey said.
ATB started looking at CRM back in 1998, Casey said. But the company held off making an investment until 2001 when it implemented Siebel’s Call Center Solution.
After eight months, Casey said ATB had already reached its targets; it had increased efficiency in its call centres by 25%, increased referrals by 35% and had increased sales by 50%.
ATB now wants to extend CRM using Eontec, whose product is based on Java 2 Enterprise Edition. The Siebel-Eontec system will allow the tellers to be able to access up-to-date information about it customers. Eventually, ATB plans to integrate its branches with its call centre, ABMs and internet banking so customers can access real-time information from their accounts from multiple sources.
Rebecca Reid writes of ITWorldCanada.com