Alan Trefler, Founder and CEO
In today’s dynamic world marked by burgeoning digital and mobile technologies, every company is constantly collecting customer data to improve engagement and service quality. Typically, data is collected from multiple channels and sources to read the pulse of the target audience. The aim is to enable personalized buying experiences and track the customer journey to sustain relationships. However, companies fail to achieve desired goals despite adopting the latest and greatest marketing and customer engagement tools. The reason: those tools don’t serve the purpose of targeting customers with the right offers at the right time. Why so? The answer is clear—business systems are fragmented, marketing tools disjointed, and customer engagement and service delivery operations, too complex. As a result, consumers are constantly bombarded with irrelevant ads on their smartphones, computers, tablets, and other devices. Such an experience leads to loss of marketing and promotion budgets and failed business development initiatives.
The modern customers demand businesses to keep pace with their expectations and provide a frictionless experience. Unfortunately, the existing tools are designed to concentrate exclusively on various channels rather than on the holistic customer journey. They reinforce the same old disconnected customer experiences focused on automating the existing tasks. Thus, it becomes daunting for enterprises to achieve their ambitious digital transformation objectives.
Massachusetts-based Pegasystems Inc. is addressing these very challenges by empowering businesses to meet their strategic business needs through its pioneering digital experience management solutions. Pegasystems is a recognized leader in artificial intelligence (AI), digital process automation, and customer engagement. The company’s suite of tools enables its clients to be agile, fast, stable, and reliable in both front-end and back-end operations.
Contextualization—the Key to Success
Personalization-savvy customers expect brands to know who they are and the journey they have undertaken so far with them. Yet, of the total samples that Pegasystems picked for a research to understand this phenomenon, only 23 percent said that their favorite brands clearly understood their preferences. In reality, context isn’t just about a customer’s last click, or which products might be apt for them. Context is rather motivational, emotional, behavioral, environmental, and situational. The long and short of it is that businesses must evaluate their customers’ email as well as web and mobile apps, ensuring they are rightly catapulting the offer, and more importantly personalizing it to their target groups. Built into the Pegasystems’ platform, Pega Customer Decision Hub gives enterprises the ability to comprehend the real-time context in all its richness to enable engagement at a deeper level.
Pega’s Phenomenal Open Architecture Design Allows The Applications— Built On The Pega Platform—To Integrate With Any Third-Party App
Over its three-decade-long history, Pegasystems has added infinite value to CRM through its suite. Its focus on the digital process—powered by AI and robotic automation— is helping the world’s leading brands achieve their business objectives faster than their competitors. Pegasystems’ AI-powered CRM Suite is transforming the way enterprises drive engagement across the entire customer journey. Businesses need to be able to deliver across channels on the dot. In an ideal world, it would be easy to connect customers and employees to the business outcomes they want. But in reality, enterprises are incredibly complex. To that end, Pegasystems has introduced Pega Infinity— specifically designed for customer engagement—that unifies customer engagement and digital process automation, cutting through complexity. Pega Infinity saves time while allowing businesses to break down the silos. The industry’s only CRM suite with built-in robotic automation lets firms to instantly integrate with any third-party application.
Low-Code Application Development
Unlike other vendors using legacy sequential models, waterfall, or more iterative methodologies, Pegasystems uses SCRUM that allows its clients to reduce the overall project risk, and gain maximum visibility into the progress of the project. In the age of AI and machine learning, building a simple or complex application is a challenging endeavor for any company. Pegasystems’ unified approach delivers a no-code authoring experience. The company’s fast-track innovation enhances productivity with an intuitive low-code, role-based authoring capability that brings together business and IT. The developers can leverage visual models and agile methodology to build apps that are always up to date, easy to change, and ready-to-be deployed in minutes. The no-code, model-driven approach to DevOps makes continuous deployment easier than ever. In other words, the company creates a truly seamless and collaborative experience, from planning to development through deployment.
Pegasystems’ platform also offers a dashboard for the user to centrally govern third-party apps and data. Its complete design language, innovative authoring tools, and UI framework allow enterprises to create contextual experiences across all channels. As such, brands can either leverage the platform as the standalone solution or use its open architecture to connect to their favorite front-end technologies for their unique business needs.
Deploying Intelligent Virtual Assistants
Decision-making is the toughest phase in a customer engagement journey as it needs the salespersons to make the right choice from the many alternatives.
Whether it’s cross-selling, upselling, or just saying “thank you” to the customers, the sales professionals manning the point of sale machines must be able to take decisions in real time. Pressed due to the paucity of time, the authority at the POS often ends up making ineffective decisions. Businesses, therefore, need an AI-powered digital assistant that uses real-time analytics every second to guide the next best action. The AI-based assistant can seamlessly connect to all channels and learn automatically over-time, without the need for the user to manually feed data into it, and thus saving time and money for an organization. Pegasystems’ intelligent bot, Pega Intelligent Virtual Assistant, works round the clock to provide services to customers. With its ability to connect with multiple applications, Pega Intelligent Virtual Assistant ensures enterprises do not end up creating another technology silo. For the leadership team responsible for strategic decisions, Pegasystems’ platform generates statistical models by applying predictive intelligence. The models inform best actions throughout the customer lifecycle, from shopping to purchase to service through support.
“Actually, Scrum Methodology Coupled With The Power Of Pegas Unified Model-Driven Platform Provides Dramatic Outcomes For The Clients”
As a digital transformation partner, Pegasystems has carved many client success stories over the years. One such success story is of a US-based tier-one carrier serving almost 60 million customers. At the end of 2014, its churn rate was 2.3 percent—double that of its main competitors. In its customer care unit, agents used their own judgment and experience to pick the best approach. In practice, this meant the agent manually poured more than 20 offers, searching for the “right” one, while still talking on the phone. The client needed to transform the customer experience by moving away from ineffective and manual “one size fits all” approach to creating one-to-one personalized experiences for its customers. In just 90 days, the client implemented Pegasystems’ ‘marketing for communications’ solution to identify customers at risk of churn and proactively provide personalized retention offers. The results were a 14 percent reduction in customer churn, a 50 percent increase in transactional NPS, 8X increase in customer upgrades, and comprehensive improvement in customer satisfaction.
The use cases of Pegasystems’ platform are countless. The company continues to innovate its products, helping organizations achieve their goals faster by filling the gap between business and IT. At its recent business and IT conference, PegaWorld, Pegasystems announced the introduction of real-time AI connectors—a new set of APIs that allow users to plug in third-party AI engines to its powerful Pega AI. The company’s open approach will allow clients to enhance the functionality of the customer experience solution with other leading AI services. While the list of awards won by Pegasystems is endless, recently, the company received two awards—MedTech Breakthrough and Healthcare Innovation Innovator awards—in the area of outstanding healthcare solutions for patient engagement. No matter the industry, Pegasystems can translate digitally-driven customer engagement plans into reality with minimum cost and process overhead.