It used to be simple: you talked face-to-face with a customer and sold a product. Today’s complex customer relationships require extensive profiling, a variety of contact points, and complex services. Multiple customer touch points in an organization include a combination of e-mail, Web site, telephone, call center, or face-to-face contact. With each customer encounter, you learn something new about the customer. But where does that information go? Into a centralized database, if Chordiant Software is involved.
Chordiant Software provides customized Customer Relationship Management (CRM) products. Its main product is Chordiant CCS (Customer Communications Solution), a suite of applications that integrates all the information about a customer from different data sources. With a more complete profile that includes the customer’s language, profile, and preferences, relationships become more efficient and profitable for the company and more satisfying to the customer.
Chordiant’s customers for CRM software include many global 1000 companies, such as Cable and Wireless Communications (CWC) Bank One International Credit Card, Thomas Cook Global Services, First USA, and Canadian Tire. Chordiant CCS was named Call Center Magazine‘s Product of the Year in 1999.
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Chordiant’s market includes companies with large customer bases and multiple touch points, including branch offices, call centers, a Web site, e-mail, fax, and more. Specific target markets include:
- Financial services
- Travel services
- Retail businesses
- Direct merchants
- Web merchants
Two things are propelling Chordiant’s success: a hot market and a high-touch effort for its own customers. As for a hot market, CRM businesses are expected to earn $7.7 billion a year by 2001, according to Gartner Group estimates, up from $3.1 billion in 1999. To empower its own customers’ CRM efforts, Chordiant software helps them create a personalized experience for each customer interaction by providing a single view of the customer. The software helps an enterprise integrate and personalize its marketing, sales, and e-business efforts, as well as its customer support across the organization. As a high-touch company, Chordiant also provides a variety of training and day-to-day support for its customers.
Chordiant is a privately held company that filed for an Initial Public Offering (IPO) in December 1999. Current investors include Foundation Capital, Norwest, Brentwood Capital, Vertex Management, T. Rowe Price, Battery Ventures, Bluewater Capital, EDS, Charter Growth Capital, and Aspect Telecommunications.
- Sam Spadafora, president and chief executive officer
- Joseph Tumminaro, chief technical officer and founder
- Steven R. Springsteel, chief financial officer
- Don Morrison, executive vice president of worldwide field operations
- Steve Sherman, vice president of development
- Stephen Kelly, senior vice president EMEA operations
- Mick Oak, senior vice president of customer services
What others are saying about Chordiant
“Companies are also using CRM technology to come up with new sources of revenue. Thomas Cook Travel Group of London, for example, wanted to increase its share of each customer’s lifetime value by providing a level of service that competitors couldn’t match. To this end, it worked with Chordiant and systems integrator MCI Systemhouse to set up an ‘international rescue service’ for travelers. By telephoning Thomas Cook’s call center, travelers receive one-stop access to personalized services, including legal and medical services, emergency cash, card and ticket replacement, and so on…According to divisional CIO Myles Gibson, Thomas Cook expects to see an annual return on its $25 million investment of 12 percent—a return measured by heightened customer satisfaction, increased customer retention, and increased customer lifetime value.”
“So Happy Together,” by Bronwyn Fryer, CFO Magazine, June 1999
20400 Stevens Creek Blvd., Suite 400Cupertino, CA 95014Tele: (408) 517-6100Fax: (408) 517-0270http://www.chordiant.com
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