Gaining insight into customers’ needs, preferences and social profile to create personalized and differentiated experiences is critical for companies to succeed in today’s highly competitive business climate.

SAP (News - Alert) AG has rolled out its cloud CRM product, SAP 360 Customer solution, which is deigned to utilize the power of in-memory computing, cloud, enterprise mobility and collaboration to allow organizations to improve the way they engage with their customers beyond traditional customer relationship management (CRM).

The new cloud CRM product is designed to help businesses improve their customers’ experiences, which will in turn result in more efficient operations and customers interactions, according to Bill McDermott, co-CEO of SAP.

“This is a game-changing solution that will help companies market better, sell better, service better and truly create remarkable experiences for their customers,” McDermott said in a statement. “With SAP 360 Customer powered by SAP HANA, companies gain true 360-degree customer insight that is real-time, actionable and available anywhere.”

SAP 360 Customer is designed to help companies turn insight into action and engage with customers one-to-one, helping organizations to create an improved customer experience that can result in better collaboration, executing transactions faster and providing better response times.

SAP touted severalbenefits of SAP 360 Customer, including:

• Real-time insight: Organizations will gain proprietary customer insights, understand customer needs and preferences and predict future behavior. This real-time and true 360-degree view of the customer will be based on the most accurate front-office interactions, back-office transactions and publicly available information from social networks, in accordance with applicable data protection and privacy laws. Organizations will be able to access large amounts of data in shorter periods of time, dramatically increase the speed of existing processes and revolutionize decision-making, anywhere, on any device.
• Real-time interactions: Companies will be able to leverage just-in-time customer insight to deliver one-to-one interactions through any channel. Organizations will be able to deliver a differentiated customer experience and provide customers with highly personalized offerings, which will accurately reflect the specific customer needs and wants.
• Real-time execution: Companies will be able to instantly carry out end-to-end customer processes beyond the front office, truly deliver on their brand promise and create differentiated customer experiences. By leveraging industry best practices inherent in SAP solutions, organizations will be able to improve the effectiveness and efficiency of every customer process. This will enable companies to truly transform and empower the front line employees to better engage with customers across marketing, sales and service functions.

The solution is already working for Lenovo (News - Alert), the world’s second-largest PC vendor, which is an early adopter of the SAP HANA platform.

“Knowing exactly what is happening in our business at any moment and being able to respond quickly to changing market conditions is critical for the success of Lenovo,” said Xiaoyu Liu, vice president, Global Application Development, Lenovo. “SAP HANA has proven to be a high-performing platform to help us achieve this goal. That’s why we are exploring supercharging customer relationship management with SAP HANA.”

Lenovo has seen 30 times faster performance in key processes during the customer validation phase, according to Liu.

“The first results are very promising, allowing our business to not only get 360-degree real-time business insight, but also significantly accelerating all our customer-facing operations,” Liu added.

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