OUR TAKE -  The ROI of a Sincere Apology     Lasting Impressions: Ability has nothing to do with opportunity. - Napoleon Bonaparte Happy Friday! If you haven't kept up this week with the discussion about a crisis of trust and a slow crawl towards the truth, I hope you use this opportunity to catch up (also read when 99% is a failing grade and suddenly trustworthy).   I plan to extend the discussion in new directions next week. For now consider that admitting mistakes may actually be good business - even when you are in the business of life and death. Health care is not flawless and the legal side of the equation means health care providers often remain silent when things go wrong. But Saying 'sorry' pays off for doctors, hospitals at the University of Michigan Health System.   This is more than a story about compassion and common decency. It turns out to be good for business - really good - as measured by the number of malpractice claims, the cost per claims, and the length of time to process a claim. We're not talking soft benefits here. This is about measurable and significant ROI.   Of course, if you run an error free operation, there is no need to institutionalize sincere apology. But error-free organizations seem elusive to me. That's my take. Do you agree? What's your take?   Gary Lemke, Publisher          Action Center         Free Subscription         Submit Content         Industry Events         Webcasts         Archive     Cool CRM                     NEW IN CRM   News:    NICE to Acquire eglue, a Provider of Real-Time Decisioning NICE Systems announced the signing of a definitive agreement to acquire eglue, a provider of real-time decisioning and guidance solutions. NICE customers will benefit from the expansion of the company’s enterprise contact center and back office offering, enhancing and further impacting compliance adherence, operational efficiency, customer experience and sales and marketing effectiveness, enabling their organization to become more customer-centric. Under the terms of the agreement, NICE will be acquiring the company for a total cash consideration of approximately $29 million. The transaction price may be increased by up to an additional $6 million, subject to certain performance criteria. (NICE )   Article:    Is Your Community of Customers Sustainable? Sustainability is the up-and-coming issue for business, and CRM is no exception. When we think about sustainability, many of us think about some form of conservation—maybe something “green”—and that’s not a bad place to start. Sustainability is rooted in the notion that all systems—all resources—are finite. When demand is relatively low, those resources appear to be infinite, but that’s just the perception. Two centuries ago, we headed west to what seemed like an infinite frontier; by 1890 the Census Bureau closed that frontier because the West had been settled. The same thing happens in markets. (DestinationCRM )   News:    Stayinfront Introduces Consumer Goods 12 StayinFront introduced the latest version of its consumer goods product, StayinFront Consumer Goods 12 providing consumer goods companies with tools to sell more and manage better, boasting features to increase both retail execution efficiency and in-store visibility. Coupled with built-in analytics, StayinFront Consumer Goods 12 helps organizations measure sales performance as well as giving sales managers a watchful eye on the cause and effect of store activities.(Stayinfront )   News:    Connectiva Adds Solution for Customer Experience Management Connectiva, a provider of revenue management solutions, announced it has launched a new solution offering for customer experience management (CEM). The solution is an integrated revenue optimization suite, extending its functional footprint beyond revenue assurance and fraud management to managing the end-to-end customer experience. Based on assets acquired from Olista Corp, a Delaware corporation, the CEM solution uses patented analytics technologies to help organizations better understand customers’ behavior patterns and to increase customer lifetime value. (Connectiva )   Didn't read the last edition of CRMAdvocate? Click here to see what you missed.

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