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Posted on : 11/02/2019

As per a market forecast report, “Worldwide CRM Applications Market to reach $29.7 billion by 2022, compared with $27.1 billion in 2017 at a compound annual growth rate of 1.9%. In 2017, the top 10 CRM software vendors accounted for nearly 60% of the global CRM applications market which grew 11.85% to approach nearly $27.2 billion in license, maintenance and subscription revenues. Last year, Salesforce led the pack with a 25% market share riding on a 23% jump in CRM revenues. Adobe was #2, followed by Oracle, SAP and Genesys.” (Source: Appsruntheworld) Due to its seamless integration, a wide range…

Posted on : 31/01/2019

Financial Technology – FinTech for short, describes businesses which offer financial products or services to customers by leveraging technology. These businesses aim to offer new tech-driven financial solutions enabling convenience and superior user experience, and ultimately drive innovation in their industry. This revolution in financial technology has brought in many new entrants who are redefining the financial services sector. Large, well-established financial institutions and technology giants are focusing to adapt and re-engineer their existing processes to enhance speed, offer better customer experiences and provide differentiated value to customers. According to the World Fintech Report 2018 by Capgemini and LinkedIn, in…

Posted on : 15/01/2019

This is the second post in a series of posts about InsurTech and Artificial Intelligence. You can read the first post of the series here. In the previous post we acknowledged that the insurance industry is traditional, complex and is being disrupted by AI. Because of the complex nature of its products / services, innovation through AI is often stifled, and customers find the products / services confusing which is often a root cause of poor customer experience. However, challenges like these shouldn’t stop AI to revolutionize the entire sector and deliver better customer experiences. In this article, let’s take…

Posted on : 08/01/2019

EDI – Electronic Data Interchange. Definition: EDI is a computer-to-computer exchange of business documents in a standard electronic format between business partners without the need for human intervention. EDI permits exchange of multiple business documents, such as purchase orders, shipping notices, invoices and more. It also permits multiple companies across countries to exchange business documents electronically. EDI Benefits EDI is predominately used in large and small companies, for a wide range of benefits it offers. Some of them include: reduced costs, increased speed, improved business efficiency and a greater visibility of the documents during the exchange process. Hence, the impressive…