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3 Steps Survival Guide to Recession
3 Steps Survival Guide to Recession for Customer Service Leaders Recession is a period of general economic decline that is typically characterized by three early signs: 1. Increased unemployment rate 2. Declining housing market 3. Drop in the stock market When these three things are happening at the same time, that can be a good indicator for an upcoming recession what may affect all types and sizes of businesses regardless from their market segments and positions. Unfortunately, today we can check all those boxes that listed above, so as a business leader you wouldbetter to be prepared for the recession with an action plan that can serve as a rescue belt in case of need. #1 – Make sure you have a plan It sounds easy, because you always have a plan, but the question is if you have a plan that is specifically designed for economic downturns. This plan should be built upside-down and with outside-in approach (not the other way around) because in this situation you need to navigate through randomly appearing obstacles and need to leave your well-known path to avoid collisions. To make this plan you may ask and try to answer the following questions: 1. […]
How AI-Driven Case Management Elevates Customer Service
We all know leveraging AI and automation can revolutionize service operations by enhancing efficiency and effectiveness while saving time and effort. Here’s how you do it!
Navigating Digital Transformation in an Inflationary Economy
Inflation can pose significant challenges to businesses, affecting everything from consumer spending to operational costs. In such an economic environment, digital transformation becomes not just a strategic choice but a necessity for survival and growth. However, executing digital initiatives amidst inflationary pressures requires careful planning, adaptability, and innovative thinking. In this blog, we’ll explore the unique challenges and effective strategies for doing digital transformation in an inflation economy. Understanding the Challenges Cost Pressures: Inflation often leads to rising costs across various aspects of business operations, including technology investments. Digital transformation initiatives, which require substantial financial resources, can become even more daunting in such circumstances. Resource Constraints: Inflationary economies may witness tighter budgets and resource constraints. This could impact hiring skilled talent, acquiring necessary technology infrastructure, or investing in training programs essential for digital transformation. Changing Consumer Behavior: Inflation can influence consumer behavior, leading to shifts in purchasing patterns and preferences. Businesses undergoing digital transformation must remain agile to adapt their strategies to meet evolving customer needs and expectations. Technological Obsolescence: Rapid inflation may render technology investments obsolete quicker than anticipated. This necessitates a flexible approach to digital transformation, focusing on scalable solutions that can withstand economic fluctuations. Any of these challenges […]
3 common process automation mistakes
Business Process Automation is a good thing, and not just to generate efficiency for your company but it is demanded / expected by your customers as well. Is that right? Hmmm, not always. Back in 2022 a Gartner Survey revealed that “80% of Executives Think Automation Can Be Applied to Any Business Decision”. So, in another words 80% of the business leaders believed that ANY, – means 100% -, of business decisions can be automated in a certain way. After two years I must admit that I was – and I am still – in the remaining 20% who believes there are certain business processes and related decisions that cannot be fully automated, – or make no sense to be automated. And if you are enforcing automation in certain business processes, – especially in some select cases -, you can decrease your operation efficiency and may destroy your customer experience. Here are the 3 most common mistakes you need to avoid when you are planning to automate your customer service related business processes: #1 – Automation that makes your process more difficult or effort consuming Imagine how many times you have been faced with a challenge – as a customer […]
Eccentex releases a new version of HyperAutomation Cloud
LOS ANGELES, CA, USA, February 3, 2024 /EINPresswire.com/ — Today Eccentex releases a new version of HyperAutomation Cloud with innovative features that improves efficiency, agility and customer satisfaction. This outstanding achievement reflects the company’s commitment to innovation, customer satisfaction, and sustained success in a dynamic market. The significant surge in recurring revenue is a testament to Eccentex’s dedication to deliver cutting-edge solutions and services that resonate with our clients expectations. As businesses are facing evolving challenges globally, Eccentex remains at the forefront providing robust and adaptable solutions that meet the diverse needs of our clientele. The new release of HyperAutomation Cloud includes three key features. #1 – The Solution Inventor AI now extended with 3 new skills that significantly improves user experiences and productivity: Eccentex AI is now able to generate multi-level data models for CRM Parties that enables HAC users to define and maintain multi-level MDM schemas (for example if the CRM account is a B2B Telecommunication Provider, their record may contain all of their accounts, contracts and activities, etc.) Enablement of multi-level data model for Case Management Parties now supports HAC users to handle data beyond customer accounts (for example if the CRM account is a Vendor, their […]
Eccentex Achieves Remarkable Growth in Recurring Revenue
LOS ANGELES, CA, USA, January 23, 2024 /EINPresswire.com/ — Eccentex, a leader in Low-Code/No-Code development platforms and Case Management solution, proudly announces a substantial milestone with a remarkable 42% growth in recurring revenue. This outstanding achievement reflects the company’s commitment to innovation, customer satisfaction, and sustained success in a dynamic market. The significant surge in recurring revenue is a testament to Eccentex’s dedication to deliver cutting-edge solutions and services that resonate with our clients expectations. As businesses are facing evolving challenges globally, Eccentex remains at the forefront providing robust and adaptable solutions that meet the diverse needs of our clientele. Eccentex’s innovative approach combined with customer-centric solutions, has positioned the company for sustainable success. The growth in recurring revenue reflects the effectiveness of Eccentex’s strategies in addressing the ever-changing landscape of the Case Management and Low-Code solution market. “The continuous expansion of our client base proves the business value of our solutions, and this significant growth of our recurring revenue is clear evidence of the quality and value of our professional services.” – says Len Tokar – executive VP of Eccentex. As Eccentex continues to invest in research and development with a special focus on customer centric AI services, expands […]
Unlocking Efficiency and Elevating Member Experiences in Pension Funds with a Low-Code platform
Challenges in Pension Fund Management are embedded in almost every policy and procedure due to highly customized services and individual member requirements. Complexity of processes can decrease operational efficiency and harm the Customer Experience, but you can easily overcome these challenges with systematic procedure design and deploying the right solution platform. The difficulty in Pension Fund processes lies in sophisticated and highly personalized processes that often require Exception Handling. Repetitive (routine) processes that require fewer skills can be easily automated, but complex procedures still require a large number of human resources. To address this issue, Pension Funds hire highly skilled specialists and continuously train them which increases their operational costs significantly. Additionally, handling a large number of attached documents and outgoing correspondences can further amplify the intricacies of your business. Working with legally binding documents leads to several auxiliary requirements as well, such as automated text recognition (OCR), secured document sharing, handling of electronic signatures, tracking document versions, enabling full-text search, ensuring compliance with Data Protection and other legal requirements, etc. On the procedural side, the complexity lies in personalization, which is an essential part of Member Management and requires exception handling in self-service automation as well. Today’s Self-Service Portals […]
Availability Announcement of Eccentex Business Intelligence
LOS ANGELES, CA, USA, January 9, 2024 /EINPresswire.com/ — Eccentex announcing the availability of Business Intelligence as new analytics module of HyperAutomation Cloud. “Our offers are evolving rapidly and today we are proudly releasing our new Business Intelligence solution specially designed for enterprise customers who want more than just an analytics tool. This offer is a great extension of our existing Analytics platform that supports business leaders to make data driven decisions faster and effortlessly.” – Alex Stein, CEO of Eccentex. “Leaders need analytics solutions that can help them to make educated business decisions. However most BI tools on the market end up with a dashboard that only displays set of data but leave the analysis itself to the users rather than exposing actionable insights. Eccentex BI take the Enterprise Analytics to the next level and displays metrics that can be used to make business decisions directly.” – Tibor Vass, CMO of Eccentex After years of long development based on real-life use cases, now we are introducing the next generation of analytics engine that supports business leaders to make data driven decision faster and easier. To learn more about our new BI tool visit our dedicated BI page or […]
10 Unquestionable Benefits of BI
Business Intelligence (BI) systems are a set of Tools, Strategies and Processes that enable companies to capture, process and analyze large volumes of data (business information) and transform them into actionable insights to make strategic and tactical business decisions. Imagine a good BI system as an airplane cockpit where the instruments and the automation enable the pilots to navigate even in bad weather or limited visibility. A well planned and accurately implemented BI system can deliver a lot of business benefits for any company. Let’s summarize the Top 10 of these benefits to better understand how valuable they are. Better & Faster Decisions Based on Facts The tribal knowledge of a company could be very useful in many cases, but this knowledge is sometimes based on beliefs, wishful thinking or misinterpretations rather than facts. These wrong perceptions can divert important business decisions far from the optimal path and can cause Customer Experience degradation or even financial losses. An accurate analysis of historic-, real-time-, and contextual data enables business leaders to make decision based on facts. Competitive Analysis / Benchmarking A good BI system acts like a monitoring tool that provides high level insights about your competitors’ key performance indicators and […]
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