A new approach called relationship management points the way. The premise of relationship management is simple: By delivering value to the customer, the company boosts satisfaction and loyalty, and opens the door to new cross-sell/up-sell opportunities that will drive greater value from the relationship over the life of the account.
Relationship management spans strategies, operations, new technologies and solutions to ensure a loyal, profitable customer base. Two developments that aid in this process during and after network consolidation are Enterprise Product Management (EPM) and Predictive Analytics.
Enterprise Product Management: From Many to One
EPM is a strategic business solution that supports the creation, management, dissemination and use of product definition data across the enterprise. The goal of EPM is to support product lifecycle management – an end-to-end approach from conception through design, development and bundling, service and disposal.
EPM integrates with and manages existing product catalogs on a single integrated platform that, in turn, provides a consistent, unified approach to new product development across the enterprise. EPM supports the creation, management, and use of product definition data to help ensure that orders are accurately captured in real time, thus supporting rapid, spot-on service fulfillment.
The single platform approach to product catalog management improves operational efficiency to deliver lower costs, higher margins, and greater customer satisfaction. Customers are the immediate beneficiaries. By creating a consistent approach to product definition, EPM eliminates the delays typical of fragmented legacy systems, thus significantly
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