How CCM Systems Increase Efficiency While Eliminating Errors
The increase in volume and complexity of customer communications is a common problem area for mid-size to large organizations. It’s a business function that typically requires a large number of staff and dedication of resources. But organizations that adopt software focused on document management and process automation are saving time, money and energy at every possible turn. Complicated tasks can now be completed by smaller teams, and in some cases, even single users.
One example is Customer Communications Management (CCM) software. CCM software accepts information from a host of different inputs, and then instantaneously transforms that information into effective correspondence output. With this data integration, resulting communications are optimized for branding, personalization, timeliness and administrative control.
Why use CCM software?
CCM software is an ideal solution for corresponding with your customers on a highly specified level. In short, you can utilize CCM software wherever complex data needs to be distilled into effective correspondence with a customer, and output through a variety of channels, drastically improving the customer experience.
Customer Communications Management software greatly mitigates human error. The user still must input data accurately, but once the correct data has been entered, the CCM software will instantly process complex data into the appropriate correspondence. This ensures consistently correct results while simplifying an otherwise complicated and difficult task.
Increased efficiency is another major benefit. CCM solutions can take crucial information from a variety of inputs and organize them into effective communication between business and customer. Previously, communication on this level would have taken a significant amount of time, labor and money.
CCM software has tremendous potential for a multitude of applications in a variety of industries. The example below from the finance sector illustrates this tool’s potential to simplify intricate processes, meet strict regulatory requirements, and reduce costs.
Customer Communications Management in Practice: Financial Investment Correspondence
A financial firm that implemented CCM to disseminate 401k account documents and fee disclosures has experienced reduced data errors, staffing needs and postage costs. These communications are sent to many of the firm’s business clients, which employ anywhere from dozens to thousands of employees. Furthermore, these clients typically offer their employees 50 investment options, of which each employee can choose 10 for their investment portfolio. With employees changing an investment an average of 4 times every year, the average employee is involved in 14 total investments annually.
The firm must create a packet containing generic information on each investment, but because each employee’s 401k portfolio comprises different investments, the packets must be tailored further.
Compiling these portfolios and fee disclosures previously required the firm to search through individual spreadsheets, locate every investment for every employee, manually compile those investments into a 401k portfolio and fee disclosure, and finally deliver the correct correspondence to the right employee.
With CCM software, however, the year’s 401k data can be dropped into one program, organized, and translated into the appropriate correspondence – instantaneously.
The Bottom Line: CCM Software Increases Efficiency While Eliminating Errors
Customer Communications Management software is making effective customer communication easier than ever before. It eliminates many of the errors that stem from the mishandling or improper organization of complex data. CCM platforms makes executing complex correspondence incredibly efficient and error-proof once source data and the appropriate checks and balances are correctly in place.
Strata Company specializes in technologies that streamline and automate customer correspondence, with both custom development and customizable cloud-based solutions. With over 20 years of experience, Strata helps businesses transform their customer communications experience – executing correspondence with precision accuracy and speed. Call 610-941-6100 to speak with a specialist, or contact us to request a personalized demo.Back to Blog