CUPERTINO, CALIFORNIA - MediaOutReach - 28 January 2021 - SugarCRMInc., the innovator of time-aware CX, today announced the launch ofSugarPredict, the first data-fueled AI for CRM. SugarPredict delivers newlevels of prediction accuracy without the time, cost, and technical expertisetypically required for companies to take advantage of AI.
Fifty-two percent of sales leaders say their CRM is costingthem lost revenue, according to new research from SugarCRM that examines thelack of customer visibility that plagues most companies. The quality and consistency of thedata entered by CRM users can create challenges for basic AI systems. SugarPredicttakes a different approach by enriching customer data with additionalattributes that results in more comprehensive and consistent AI models.SugarPredict provides accurate predictions, even with limited first-party data,while diligently guarding the privacy and security of company and customerinformation.
"AI can solve a number ofsales and marketing barriers today, putting it at the heart of CRM," said PaulGreenberg, president of the 56 Group and author of CRM at the Speed of Light."Sales teams that lean into AI-powered CRM can take advantage of the leadinsights and opportunity models that give them a significant competitiveadvantage."
As the first of many SugarPredict-powered capabilities inSugar Sell, the technology is being used to take the guesswork out of leadprioritization, lead Ideal Customer Profile (ICP) alignment, andopportunity-to-close-won scoring. SugarPredict analyzes historical account, deal,and company data to accurately predict which leads are most likely to becomecustomers. Lead scoring is based on similarity to historical conversions(converted leads or closed-won opportunities), while ideal customer profilematching identifies leads that are similar to a company's past and currentcustomer bases.
"SugarPredict helps companies replace a fragmented,out-of-date, and incomplete picture with a sharply focused understanding ofboth their customers and business," said Craig Charlton, CEO of SugarCRM."We've made significant product investments, over the last year, to democratizeAI to drive business performance and enablepredictability for companies of all sizes."
"Like many companies in the manufacturing businessBishop-Wisecarver is always looking for ways to work smarter and faster thanthe competition", said Niegel Leoncio, CRM Managerfor Bishop-Wisecarver. "We are excited about the launch of SugarPredict,which places the power of AI into the hands of sales and service teams so theycan drive better results and a better customer experience."
SugarPredict leverages Sugar's time-aware CX platform which provides a full historical recordof all change events related to customers and customer-facing processes. SugarPredictfor sales force automation, marketing automation, and customer serviceapplications is based on technology from last summer's acquisition of Node.io.SugarPredict is free for Sugar Sell customers and will roll out to Sugar Marketand Sugar Serve customers later this year.
Learn more about SugarPredict here.
SugarCRM's time-awaresales, marketing and service software helps companies deliver a high-definition(HD-CX) customer experience. For mid-market and enterprise companies thatwant a CX-driven platform, Sugar gives teamsthe time-aware customer data they need to achieve a clear view of the customerand reach new levels of business performance and predictability, and increasecustomer lifetime value.
More than 4,500 companies in 120countries rely on SugarCRM. Based in Silicon Valley, SugarCRM is backed byAccel-KKR.