Pramata Announces New Customer Digitization Platform
Winter ‘17 release helps enterprises understand their customers, increase revenue and eliminate compliance risk
BRISBANE, Calif. – Feb. 7, 2017 – Pramata, the customer digitization company, today announced the Winter ‘17 release of its cloud platform, enabling large companies to better understand their complex customer relationships. Featuring an innovative Digital Snapshot™ capability and new integrations with leading business applications, the platform connects critical customer data across CRM and billing systems, giving companies access to untapped revenue and growth opportunities.
Pramata digitizes the concrete information in signed customer contracts, and converts it into actionable intelligence using a combination of machine learning and human touch. The Winter ‘17 Release includes a Digital Snapshot feature, which delivers clean, complete customer data in context using a simple scroll-over interface. The information is then combined with relevant data from pre-existing business applications through integrations with DocuSign, Salesforce, Oracle, SAP and other industry leading software providers, enabling enterprises to maximize legacy investments.
“Large B2B enterprises have a blind spot when it comes to critical information about their complex customer relationships,” said Praful Saklani, CEO and Founder of Pramata. “They’re leaving revenue on the table and in many cases exposing themselves to regulatory risk because they can’t easily access contractual details like pricing, renewal dates and customer commitments. Pramata surfaces that hidden information and bridges the gaps between CRM and billing systems, ensuring the right data is accessible and actionable.”
Pramata customers include Comcast Business, NCR and CenturyLink, many who have seen an average increase in customer retention of 4.5% and an increase in revenue by millions of dollars per year.
“Gaining a unified view of complex customer agreements is a monumental challenge for any large organization today. Pramata provided FICO with a clear understanding of customer intelligence that enabled us to streamline business processes throughout our organization,” said Tom Carretta, vice president, Legal and Associate General Counsel, FICO. “We were also able to identify $2.5M in revenue opportunities in the first year – largely due to Pramata’s approach – which includes normalizing customer relationship data internally and externally to improve decision making and effectiveness company-wide.
The largest enterprises in the world rely on a patchwork of systems to manage their customers throughout the relationship lifecycle. Customer Relationship Management (CRM) and Configure Price Quote (CPQ) systems are used for selling to prospects and growing existing customer relationships. Enterprise Resource Planning (ERP) and billing systems are used for delivering products and operationalizing customers. However, as companies mature, managing hundreds of thousands of complex relationships becomes a manual and costly process. As documents and data proliferate through company growth and acquisitions, enterprises face additional challenges of revenue leakage and business and compliance risk.
“Today’s business leaders are looking to eliminate friction throughout their enterprise,” said Andrew Dailey, Managing Director at MGI Research. “Part of this effort requires transforming static data that is hidden within departmental silos like CRM and ERP, and using tools like Pramata to activate the data across the business.”
World-class brands including CenturyLink, Comcast Business, FICO, NCR, Novelis, Medtronic and Truven IBM have chosen Pramata’s uniquely innovative and highly sophisticated platform to grow value throughout the customer lifecycle and position themselves for future business transformation. Pramata’s Winter ‘17 Release is available now and will be featured in a Pramata-hosted webinar today at 10:00AM Pacific. For more information, or to request a demo of how Pramata can transform your enterprise, visit: www.pramata.com.
Headquartered in Brisbane, Calif. with offices in Kansas City and Bangalore, Pramata provides customer digitization solutions to Fortune 500 companies that increase revenue and profits while reducing leakage and regulatory risk. For more information, visit www.pramata.com.