Thursday Sep 13, 2012

RightNow CX Cloud Service Combined with Oracle Fusion CRM in the Cloud

·        The May 2012 release of Oracle’s RightNow CX Cloud Service, the customer experience suite, is now integrated with Oracle Fusion CRM, helping organizations to achieve sustainable business growth through relevant, cross-channel customer interactions that can increase revenue opportunities and drive organizational efficiencies.

Relevant Interactions Build Stronger Customer Relationships

·          Armed with a comprehensive view of all customer interactions across channels, the context and status of these interactions, and an awareness of the customer’s value to the organization, companies can now offer more relevant products and services to customers.

·         Using the combined Oracle RightNow CX Cloud Service and Oracle Fusion CRM solutions, organizations can increase customer retention, drive higher levels of customer advocacy, and increase sales conversion rates with tools designed to:

  • - Provide a complete, cross-channel view of the customer to sales, marketing and service.
  • - Empower sales and service departments to easily collaborate to proactively solve customer issues, using opportunities to provide purchase advice at the right time and with the right solutions.
  • Allow sales to easily review service history in preparation for sales calls.
  • - Enable agents to understand customer value based upon prior buying habits and existing opportunities.

Deeper Insight Enables Targeted, Personalized Opportunities

·          The combination of Oracle RightNow CX Cloud Service and Oracle Fusion CRM allows sales and marketing organizations to simultaneously leverage service interactions from RightNow CX and sales prediction and segmentation capabilities from Fusion Sales. This helps companies to:

  • - Better match products and services to specific customer needs based on customer service history. 
  • - Deliver targeted, personalized interactions intended to help customers derive more value from purchases and to inform future buying decisions.
  • - Identify new opportunities to increase deal size and conversion rates.

Supporting Quotes

·         “Every interaction is a relationship opportunity to grow your business. When these interactions are relevant and add value for customers, customers are more likely to trust the relationship and seek purchase advice,” said David Vap, group vice president, Oracle. “This customer trust provides an opportunity to increase customer product adoption and to reduce the cost of customer acquisition, thereby increasing company profitability.”

Supporting Resources

·         Oracle Fusion CRM

·         Oracle Fusion Applications

·         Oracle RightNow CX Cloud Service

·         OracleCRM on Facebook

·         OracleCRM on YouTube

Tuesday Sep 04, 2012

The Three-Legged Milk Stool - Why Oracle Fusion Incentive Compensation makes the difference!

During the London Olympics, we were exposed to dozens of athletes who worked with sports psychologists to maximize their performance. Executives often hire business psychologists to coach their teams to excellence. In the same vein, Fusion Incentive Compensation can be used to get people to change their sales behavior so we can make our numbers.

But what about using incentive compensation solutions in a non-sales scenario to drive change? Recently, I was working an opportunity where a company was having a low user adoption rate for, which was causing problems for them. I suggested they use Fusion Incentive Comp to change the reps' behavior. We tossed around the idea of tracking user adoption by creating a variable bonus for reps based on how well they forecasted revenues in the new system. Another thought was to reward the reps for how often they logged into the system or for the percentage of leads that became opportunities and turned into revenue. A new twist on a great product.

Fusion CRM's Sweet Spot

I'm excited about the sales performance management (SPM) tools in Fusion CRM. This trio of Incentive Compensation, Territory Management, and Quota Management sets us apart from the competition because Oracle is the only vendor that provides all three of these capabilities on a single tech stack, in a single application, and with a single look and feel. The niche vendors offer standalone territory or incentive compensation solutions, but then the customer has to custom build the other tools and can end up with a Frankenstein-type environment.

On average, companies overpay sales commissions by three to eight percent. You calculate that number for a company the size of Oracle for one quarter and it makes a pretty air-tight financial case for using SPM tools to figure accurate commissions. Plus when sales reps get the right compensation, they can be out selling rather than spending precious time figuring out what they didn't get paid or looking for another job.

And one more thing ... Oracle knows incentive comp. We have been a Gartner Market Scope leader in this space for the last five years. Our solution gets high marks because of its scalability and because of its interoperability with other technologies. And now that we're leading with Fusion, our incentive compensation offering includes the innovations that the Fusion team built, plus enhancements from the E-Business Suite Incentive Comp team. It's a case of making a good thing even better. (See product video.)

The "Wedge" Apps

In a number of accounts that I'm working on, there is a non-Oracle CRM system of record. That gives me the perfect opportunity to introduce the benefits of our SPM tools and to get the customer using Fusion. Then the door is wide open for the company to uptake more of Fusion CRM, especially since all the integrations they need are out of the box. I really believe that implementing this wedge of SPM tools is the ticket to taking market share away from other vendors. It allows us to insert ourselves in an environment where no other CRM solution in the market has the extending capabilities of Fusion.

Not Just Your Usual Suspects

Usually the stakeholders that I talk to for Territory Management are tightly aligned with the sales management team. When I sell the quota planning tool, I'm talking to finance people on the ERP side of the house who are measuring quotas and forecasting revenue. And then Incentive Comp is of most interest to the sales operations people, and generally these people roll up to either HR or the payroll department.

I think of our Fusion SPM tools as a three-legged stool straddling an organization's Sales, Finance, and HR departments. So when you're prospecting for opportunities -- yes, people with a CRM perspective will be very interested -- but don't limit yourselves to that constituency.

You might find stakeholders in accounting, revenue planning, or HR compensation teams. You just might discover, as I did at United Airlines, that the HR organization is spearheading the CRM project because incentive compensation is what they need ... and they're the ones with the budget.

Jason Loh
Global Solutions Manager, Fusion CRM Sales Planning
Oracle Corporation



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