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11/9/06 - Do You Jail Your Customers?
Matthew Shinnick posted two bicycles for sale on Cragislist and received a check for more than the cost of the bicycles. He went into a Bank of America branch to see if the check was legitimate. The teller told him it was a valid account, so he cashed the check. At that point, BOA employees called police and Shinnick was arrested on fraud charges because the check was actually fraudulent. They took him to jail where he spent the night. He had to hire attorneys to clear his name costing him $14,000 (full story).
When one considers how many millions of dollars the bank spends on advertising soft values like trust and customer service, it seems like picking up the poor guy's legal fee would be a slam dunk. He was turned down by the bank that was legally protected by a 2004 Supreme Court ruling. Radio Host Howard Clark highlighted the story and has run a BOA Money Loss Meter tallying the aggregate withdrawals of protesters.
When the bank considers its next ad, maybe it doesn't have to look further than its own talent. Check out how the bank's executives express their passionate feelings for the financial institution. If only the legal department and customer service department shared that passion.
Gary Lemke, Publisher
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TODAY'S NEWS (more)
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ColdSpark announced the launch of the 5 Series of the SparkEngine Mail Transport Platform, a platform designed from the ground up to meet the needs of today's global enterprises. It provides any enterprise mail networking system with inbound and outbound message delivery, internal message routing, policy-based processing, security, authentication, encryption, failure processing and traffic management.
The Fortune 500 could potentially save $58 billion annually, or over $116 million on average per company, by offshoring many of their back office activities, according to research from The Hackett Group. Advances in technology, along with increasingly educated global work forces, enable the portability of business support activities across information technology (IT), finance, human resources (HR) and procurement to take advantage of labor arbitrage. Hackett estimates that the increased use of offshore resources may impact up to 1.47 million general and administrative (G&A) jobs, or nearly 3,000 at a typical Fortune 500 company.
Respond has announced the latest version of its complaints and feedback management application, Respond CenterPoint 3.66. In version 3.66 the focus is on providing deeper functionality and expanding the application's capabilities for logging, tracking, managing and reporting on all forms of feedback data including complaints, complex queries, enquires, issues, comments and compliments.
Infopia announced a partnership with HammerTap, LLC, an online marketplace research provider. The partnership brings Infopia customers the power to profit through HammerTap's web-based market research solution.
Heartbeat Software has released Heartbeat Presenter 5.0, the latest version of its presentation management and pitch book automation software. Heartbeat Presenter 5.0 includes many new features including AJAX enabled, web-based drag and drop functionality, allowing users to easily re-order and assemble presentations directly online.
Convergys has launched a new initiative called Linked Scheduling to address the limited childcare issue in Lethbridge. The program allows spouses, family members or close friends who work at Convergys and need to care for children to link their schedules.
UCN announced a partnership with Echo Solutions, a division of BenchmarkPortal, to deliver post-call satisfaction surveys through inContact. This new service drives the caller's opinion directly to the agent for maximum impact and behavioral change, and to supervisors for coaching and management purposes.
Numara Software will be speaking at the Service & Support Professionals Association (SSPA) Services Leadership Conference on November 14 at the Wardman Park Marriott Hotel in Washington D.C.
Sage Software introduced EmPulse as its latest Sage CRM Solutions Premier Solutions Partner. EmPulse provides a set of easy-to-use, Web-based email marketing tools that ships integrated with Sage CRM SalesLogix v7.
eGain announced that the company is seeing strong adoption of its chat and cobrowse products. According to Forrester Research, customer experience is becoming the sole differentiator in more industries, particularly in consumer-facing industries like communications, technology, and financial services, helping leading companies to attract and retain customers, as well as continually increase wallet share of those customers.
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"Webcasts - The Smart Series - Build your 2007 Customer Experience Plan"
Martha Rogers, Founder, Peppers and Rogers Group
Join leading industry experts from CRMGuru.com, Strativity Group, and Peppers & Rogers Group and start building your Customer Experience 2007 plan. You'll get the actionable information you need to move your customer experience initiatives forward and have your questions answered in a live Q & A session with our speakers.
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| CRMAdvocate Stock Index |
| CRMSI | 57.75 |  | 0.14% |
| Dow Jones | 12,176.54 | | 0.31% |
| Nasdaq | 2,384.94 | | 0.44% |
| S&P 500 | 1,385.72 | | 0.31% |
| Top Gainers |
| Witness | 16.73 | | 16.73 |
| ICT Group | 34.685 | | 0.91 |
| NCR | 44.22 | | 0.75 |
| Top Losers |
| Sykes | 17.25 |  | -0.48 |
| NICE | 29.79 | | -0.31 |
| Verint | 32.57 | | -0.16 |
| Complete Stock Index |
| As of close 11/08/06 | |
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