News Releases

Coveo Debunks Top-Five CRM Myths

New series featuring industry veterans and thought leaders identifies and ‘busts’ long-held CRM myths

QUEBEC – August 15, 2012

Coveo today announced that over the next several weeks it will feature a thought leadership series that highlights and ‘busts’ many of the longest-established myths about CRM technology on its blog, Coveo Insights.

Through a series of digital communications and community engagement initiatives, Coveo executives, industry pundits and CRM users will share their thoughts and opinions on established myths and why it is critical for organizations to debunk them in order to make better decisions.

The first Myth, announced today, titled “CRM Alone is Enough,” discusses the ongoing belief that CRM contains all the information needed to solve a case or close a sale. In this post, Coveo Senior Vice President, Marketing and Communication Diane Berry will debunk this myth by asserting that a single CRM system is not an all-encompassing platform. There are many elements that must be accounted for – email, engineering, online communities, social media, even desktop files and database records.

According to Gartner, “The power of social networks is forcing change, with sales, marketing and customer service departments in the front line. The revolution has only just begun, and few organizations have faced up to its reality. Facebook, Twitter, YouTube and other social networks are not going away. They need to be embraced not managed or, worse, ignored. Taking action is not optional.1

Future Myths will be introduced and ‘busted’ over the next several weeks and include topics such as the customer 360° view and the measure of CRM success for both sales and support. As these topics are announced, Coveo will welcome and encourage input from fellow thought leaders and practitioners.

To learn more, join the discussion and offer your opinion visit http://blog.coveo.com/crm-myth-1/.

Quotes

Diane Berry, SVP Marketing and Communication, Coveo:“No matter what you call it – myths, misgivings, misconceptions or old wives’ tales – there is a lot of talk about what CRM will and will not do for an organization. As a company focused on providing the right insight, every time, we’ve teamed up with our customers, partners and experts in the industry to dispel those inaccuracies and ensure the market is armed with the most appropriate and accurate information to optimize the effectiveness of CRM for sales and support.”

Kevin Chasey, SVP Field Service & Support at Tokyo Electron America:“For any company looking to succeed today, creating positive customer experiences and journeys is the number-one way to influence customer retention and acquisition. In order to uncover the insight stored across the enterprise we needed more than CRM; we needed Coveo. The rapid growth of our equipment and service business strained existing knowledge systems, reducing productivity of our field engineers. By consolidating and correlating information from all of these systems, Coveo enables our engineers to access contextually relevant information in real time for troubleshooting—ultimately providing the most engaging customer experiences.”

Esteban Kolsky, CEO, Thinkjar:“In the past several decades, we have seen every incarnation of a CRM system all promising to provide the best access and functionality to affect sales and customer service. Regardless of claims and good intentions, CRM alone doesn’t provide the full view into an organization’s information – from siloed data to social media to customer communication – that is needed to truly impact the customer experience.”

About Coveo:

Coveo transforms companies’ ability to gain insight from diverse and overwhelming amounts of unstructured and structured data, whether it exists behind the firewall, in the cloud or in social media. Coveo’s intelligent indexing technology connects broadly with and crawls all systems to create a virtual integration layer, from which role-based Insight Consoles present consolidated, correlated information mash-ups. Greater insight enables more effective and efficient customer service, more relevant customer experiences, increased sales and shorter sales cycles, faster innovation for better product development and ultimately, increased profitability.

Coveo customers range from Fortune 100 companies such as Lockheed Martin, PepsiCo and Verizon, to Global 2000 companies such as GEICO, CA Technologies and T-Mobile, to mid-sized businesses such as Terumo Medical, Tokyo Electron America and Boston Children’s Hospital. For more information, visit www.coveo.com , follow us on Twitter @coveo or like us on Facebook


Editorial Contacts

Novak / Jenny Gardynski
PAN Communications
617-502-4300
prcoveo@pancomm.com

[1] Gartner, CRM Team Recaps the Key Take-Aways From the Customer 360 Summit,” 14 June 2012, Ed Thompson

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