How do I know I am ready for EDM?
There are many ways you might tell you are ready for EDM or that you need EDM to go to the next level. Here are just some of them.
You can segment your customers 30 ways-but you deal with them 3 ways.
EDM systems enable you to build complex decision trees and apply predictive analytics in order to micro-segment populations or groups of transactions for highly targeted treatment. Check out the customer service section.
You need to comply-and demonstrate compliance-with new, and more complex, regulations.
EDM ensures that decisions are consistently made using the same set of guidelines and policies, and gives you the tools to demonstrate that the correct rules are being applied in operation. Check out the compliance section.
It takes much longer to respond to a competitive threat than to recognize it.
EDM systems help you put new rules into place 5-10 times faster, so you can quickly enact new strategies to change your offers, your products and your approval strategy. Check out the business agility section.
Manual reviews are dragging down the time to render time-sensitive decisions.
EDM can automate decisions without manual review, enabling businesses to scale smoothly and giving staff more time to deal with exceptions.
You experience or expect large changes in the volume, complexity or potential value of transactions in a given area.
EDM systems weigh dozens or hundreds of variables, and execute hundreds of rules, to reach the right answer faster than any person could.
Last but not least, you find this blog completely fascinating and utterly compelling :-)