System Provides Automated Cross-sell, Customer Retention, and Data Visualization Capabilities
KING OF PRUSSIA, Pa.--SEDONA(R) Corporation (OTCBB: SDNA) (www.sedonacorp.com), the leading provider of Web-based Customer Relationship Management (CRM) solutions for small and mid-sized financial services organizations, announced today the general availability of a new version of its CRM application, Intarsia(TM).
Intarsia v4.1 features built-in analytical capabilities as well as support for Microsoft's SQL Server database and Microsoft's MapPoint office mapping and data visualization application platform.
Known for its rich data analysis capabilities and easy-to-use data mining tools, Intarsia now includes two new automated analytic capabilities for determining the next best product for cross-selling and for assessing the attrition risk of each customer relationship.
These capabilities are unique to SEDONA's CRM solution for two reasons:
-- First, Intarsia automatically provides this information without any end user intervention. End users do not need to be sophisticated statisticians nor receive in-depth training on analytics to use these capabilities of Intarsia. Intarsia, however, enables administrative users to tailor the parameters and thresholds to be used in the analyses in order to satisfy each financial services organization's business requirements.
-- Second, Intarsia utilizes profitability information to generate its analytics information, thereby enabling the system to consider how profitable cross - sell recommendations can be when making them available to a teller or customer service representative.
The cross-selling and customer retention analytics data are calculated and updated every time the financial service organization refreshes its core data - making it immediately available as critical information about each of the organization's customers. Users can then utilize this additional analytic information in queries, reports, segments, and through front line screens. Marketing personnel may now use the cross-sell information to determine the appropriate segments for product campaigns, while bank executives may use the information to identify which of their high value customers have a customer retention risk so that the organization can be proactive in its efforts to retain these important customers.
"In banking, unlike other industries, it is critical to understand the product mix of each customer to make accurate next best product recommendations," noted Alyssa Dver, VP & Chief Marketing Officer at SEDONA Corporation. "Depending on the existing portfolio, as well as the balances in each account, the next best product will vary since profit cannot be measured cumulatively. You can't assume that selling more products to a specific customer will be better for the organization. You really need to make sure you are selling the right product to the right customer. Intarsia is the only CRM system that allows you to make that accurate assessment and makes it so easy to do."
Intarsia v4.1 also includes support for SQL Server in addition to previously supported Oracle and DB2 databases. The system uses a standard relational database to store and manage data collected from multiple data sources within the enterprise as well as new system calculated fields, such as customer and household value indexing and the new cross-sell and customer retention analytics. Organizations may use an existing SQL Server, Oracle, or DB2 license if they already have one. Other than the database, there are no other pre-requisite software components that need to be purchased to run the system.
Finally, Intarsia v4.1's new mapping and data visualization component leverages the robust capabilities of Microsoft's MapPoint application to allow users to visualize customer, household, product or operational data using high quality maps. This new component allows users to create queries and segments and to drill-down into displayed data to do efficient analysis.
"This new version of Intarsia continues to build on SEDONA's leadership position of providing a very easy-to-use yet robust CRM solution," stated Eric Hien, CRM Product Manager, Sanchez Computer Associates. "As a SEDONA partner selling the technology, we are very excited about these new capabilities and how SEDONA continues to enhance the product to make it very effective for us to present and sell this to our existing customers and new prospects."
About SEDONA Corporation
SEDONA(R) Corporation (OTCBB: SDNA) is the leading technology and services provider that delivers Customer Relationship Management (CRM) solutions specifically tailored for small and mid-sized financial services businesses such as community banks, credit unions, insurance companies, and brokerage firms. Utilizing SEDONA's CRM solutions, financial services companies can effectively identify, acquire, foster, and retain loyal, profitable customers.
Leading financial services solution providers such as Fiserv, Inc., Open Solutions Inc., COCC, Sanchez Computer Associates, Inc., Financial Services, Inc. (FSI) and AIG Technologies leverage SEDONA's CRM technology to offer best-in-market CRM to their own clients and prospects. SEDONA Corporation is an Advanced Level Business Partner of IBM(R) Corporation.