The HR department of every organization is required to make fruitful choices that will contribute adeptly to the company’s growth for the long term. So, when someone asks questions like what is human resource management? Or what is the role of HR in the functioning of a company? The answer remains the same and that…
While most businesses may already have ERP implemented, they probably don’t consider ways to make ERP smarter. To make ERP smarter, it needs to re-integrate with smart technologies such as artificial intelligence, blockchain, etc. Most ERP vendors usually offer solutions that are geared towards automating day-to-day enterprise operations but fail to address the need for…
Recent surveys show that most companies purchased their ERPs many years ago, and a majority of these ERP users have not upgraded to the latest versions of their tools. What’s more, these businesses continue to use ERP solutions that have not been updated with newer features and integrations. Consequently, businesses do not see the results…
One of the biggest differences between traditional and social CRM is that the former collects status data, while the latter focuses on large amounts of unstructured data. Traditional CRM stores data sourced from company records, voluntarily-submitted data and information collected via customer interactions. On the other hand, social CRM focuses on data that is curated…
The term ’employee performance review’ is self-explanatory. A majority of the companies install performance review software to make the job of analyzing and reporting every employee duties seamless in a monthly or annual cycle. In a more general scenario, employee appraisals are done on every anniversary of their joining. Employees who join at the yearend…
The hierarchy of every company puts particular emphasis on the phenomenon of business forecasting. It is an essential aspect of business stratification where numbers are assumed based on the current and past performance records of business and then planning is carried out for the times ahead. All business forecasting whether it is of sales, growth,…
As per the definition by Investopedia, repeat sales signify those purchases that are made by customers to replace the items or services previously bought by them. They are the example of sheer brand loyalty that occurs time and again repeatedly through the delightful experience a customer has. When a customer finds out that a particular…
Customer value management is one of the most essential elements of modern marketing and management practice. Interestingly, in the last few decades, we can see considerable growth in this approach. But what is CVM or customer value management and why is it so important? Let’s find out. What is Customer Value Management? Customer value management…