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Insights From India Customer Roundtable 2023

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Driving Commercial Business Success in the Age of AI

Revolutionizing Commercial Success: Insights from India Customer Roundtable 2023

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AI, Data, CRM, and Trust: The Future of Commercial Success in the Age of AI

Introduction

In the aftermath of the COVID-19 pandemic, the business landscape has undergone a profound transformation, characterized by unprecedented challenges and opportunities.

The quest for success in this rapidly changing environment has evolved, taking on a new dimension.

Traditional business models and strategies have been upended, giving rise to innovative approaches and an accelerated digital revolution.

The India Customer Roundtable 2023 recently presented a compelling perspective on achieving commercial business success.

This transformative event illuminated the path forward with innovative industry trends and a vision for businesses to thrive.

Central to this discussion was the vital role of a technical solution, offering universal appeal across diverse sectors such as manufacturing, financial services, life sciences, and power.

Let’s delve into the key highlights of the event which was hosted by Teqfocus, in partnership with Salesforce, emphasizing the importance of digital adoption and how it can shape the future of commercial success.

Crafting Industry-First Digital Innovation with AI, Data, CRM, and Trust

The focal point of the event was the concept of crafting industry-first digital innovation. This groundbreaking approach combines data, artificial intelligence, customer relationship management (CRM), and trust to build a resilient foundation for commercial success.

In today’s rapidly evolving business environment, staying ahead of the curve is not just a competitive advantage; it’s a necessity.

The fourth industrial revolution has ushered in a new era where data, artificial intelligence (AI), customer relationship management (CRM), and trust are pivotal to shaping industries’ first digital innovation.

This innovative approach is not just about embracing new technologies; it’s about redefining the very essence of how industries operate, engage with customers, and build trust.

  • Data: The Foundation of Digital Innovation – Data serves as the fuel for this transformation, providing the essential raw material for in-depth analysis, which in turn yields valuable insights critical for strategic decision-making, anticipating market trends, and enhancing the customer experience.
  • AI: The Catalyst for Transformation – AI technologies automate tasks, predict outcomes, and deliver scalable personalized experiences, bolstering operational efficiency. The result? Enhanced operational efficiency and the ability to stay agile in a fast-changing landscape.
  • CRM: Nurturing Customer Relationships – Modern CRM systems facilitate customer-centric journeys, segmentation, and meaningful interactions, fostering customer loyalty and long-term success. This, in turn, cultivates customer loyalty and leads to long-term success.
  • Trust: Trust is paramount in an era marked by data concerns. Organizations must prioritize data privacy, ethical AI, and transparent practices. Organizations need to demonstrate transparency in their data handling practices, adherence to data privacy regulations, and a commitment to ethical AI.

This revolutionary approach to industry is not just a theory; it’s a reality. Leading organizations across sectors are already reaping the benefits of crafting industries’ first digital innovation.

From retail giants optimizing supply chains to healthcare providers personalizing patient care, this approach is rewriting the rules of success.

Our Expertise

Our journey spans across sectors such as Healthcare & Life Sciences, Financial Services, Hi-Tech and Manufacturing, allowing us to deeply understand their unique challenges and contribute to their growth. Our presence spans across the United States, Canada, India, and the UK. With each new chapter, your business transformation seamlessly intertwines with our narrative. The evolving landscape necessitates a new approach to achieving commercial success, centered on the integration of AI technologies.

Experts from Teqfocus, including Rahul Chaterjee, Chandan Prusty, and Avi Kumar, alongside Salesforce’s Bharat Kapoor and Ashish Grover, provided key insights into the amalgamation of AI, Data, CRM, and Trust as the driving force behind commercial success.

Changing Business Landscape

The event acknowledged the profound shifts in the business landscape, accentuating key areas of concern, such as the effectiveness of sales, customer awareness and acceptance, data security and trust deficits, siloed teams and systems, customer-centric business strategies, volatile markets, and leaner budgets.

Paradigm Shift: Digital Transformation Accelerated by COVID-19

The COVID-19 pandemic acted as a catalyst for digital transformation, precipitating a paradigm shift. Key elements of this transformation encompassed strategies for enhanced customer engagement, end-to-end digital processes for operational efficiency, data-driven insights for superior marketing, and bolstered data security and trust.

Maturity in Adoption of Digital Technology

The event outlined a structured approach to digital technology adoption, categorizing it into four phases: capturing customer data, processing data, analyzing behavior, and enabling AI-driven personalized engagements.

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Commercial Business: Key Focus Areas

In order to drive commercial success, the event highlighted three key focus areas: marketing, sales & operations, and commercial analytics. Each area was further broken down into critical components, such as Omni-Channel Campaigns, Dynamic Segmentation & Targeting, Accurate Demand Forecasting, Product Catalog Management, Dynamic Analytics & Insights, Auto Generated Dashboards, and other Gen AI applications.

Commercial Business Success: Solution Overview

The proposed solution for commercial business success is a comprehensive suite that incorporates Generative AI, Data Analytics, Customer Service, Customer Data Management, Sales Planning and Operations, and Omni-Channel Marketing.

This integrated approach aims to provide a holistic solution for businesses to thrive in a rapidly changing world. The high-level architectural flow of Teqfocus solutions was demonstrated during the event; this helped the audience get a clearer picture of the solution.

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Our TeqAccelerators

Teqfocus unveiled its suite of solutions each designed to empower businesses on their journey to commercial success:

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Sample Use Cases

Stakeholder Sample Use Cases
Sales
  • Trends in sales; Who is driving my business? Where am gaining/losing? Where is the potential?
  • Onboarding sales rep in new geography/product line: Who should contact? How? When?
  • Lead generation, scoring & prioritization; suggest “next best action” to sales reps
Marketing
  • Navigate multiple conversations/journeys; identify most impactful & meaningful touch points in customer journeys
  • Personalized content based on precise segmentation & targeting of customers
  • Deliver personalized customer services, experiences and support
Supply Chain
  • Supplier relationship management; streamline collaboration & integration
  • Automate supplier communication like invoice sharing and payment reminders
  • Al-enabled demand forecasting & inventory optimization
Analytics
  • Supply chain performance analytics
  • Sales analytics & performance management; sales attribution
  • Operational analytics for dynamic pricing; deeper understanding of what influences “customers buying decision”

Final Thoughts & Insights

A hallmark of this event was the interactive Q&A session. Attendees seized the opportunity to seek clarification and insights on several pressing issues, including Data Security and Privacy, Generative AI, Data Analytics, Omni Channel Marketing and Data Cloud Intergration. The audience was keen to understand how the proposed solution addressed these concerns. The India Customer Roundtable 2023 provided invaluable insights into navigating the complexities of the post-COVID business world. By harnessing the power of data, AI, CRM, and trust, businesses can chart a course for commercial success. As we continue to adapt to the ever-evolving landscape, the tools and strategies presented in this event stand as beacons of hope and promise for enterprises in diverse industries. The road to success may have been reshaped, but with the right solutions and innovative approaches, it remains as attainable as ever.

Conclusion

Teqfocus, India Customer Roundtable 2023 inspired and equipped attendees to navigate changing technology landscapes and demonstrated its commitment to innovation, growth, and transformative solutions.

The journey toward crafting industries’ first digital innovation with data, AI, CRM, and trust is a transformative one. This holistic approach reshapes how businesses operate, interact with customers, and uphold trust in a data-driven world.

The fusion of data analytics, AI’s potential, CRM’s customer-centricity, and trust’s paramount importance creates a powerful synergy for success. Industries that embrace this paradigm gain a competitive edge by adapting to market changes, delivering highly personalized experiences, and fostering unwavering trust.