Oracle coins new term to redefine CRM

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[/caption] The US-based tech firm, which has gobbled up a number of CRM vendors in the past, said it has coined the term CX to signify its emphasis on customer experience. ?Customer experience is the sum of all interactions a customer has with a supplier of goods or services, over the duration of their relationship with that supplier,? explained Chandru Relwani, senior director for CRM product management at Oracle Japan and Asia Pacific, during a recent visit. To highlight the importance of customer experience in today?s business environment, Relwani cited a study which showed that 86 percent of consumers will pay more for a better customer experience. The executive said a company?s reputation could severely suffer if it chooses to put customer experience in the backburner, such as ignoring consumer complaints posted in social networking sites. Relwani said managing customer expectation has somewhat become complicated because of the emergence of various channels ? via the Web, in a store, over the phone, via mobile device, and through social media. ?A frustrated and disconnected customer experience can result in negative reflection on your brand,? the Oracle executive warned. As a purveyor of transformation from CRM to ?CX?, Oracle said it has the tools to provide customer experience in a ?seamless, personal way?. Also, the software firm said it has widest breadth of deployment models — on premise, private cloud, public cloud, or hybrid.]]>

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