Dublin-based customer relationship management (CRM) and business intelligence software company Norkom Technologies has signed a deal to supply its CRM product Alchemist to one of Israel’s largest telecom companies Bezeq Communications.
Alchemist is a web-enabled CRM application that predicts customer and market behaviour and changes organisations’ behaviour at all points of interaction. Bezeq will use the product to eliminate customer churn, that is, the loss of subscribers to other companies; and better target marketing campaigns.
Norkom’s Alchemist analytical technology profiles business behaviour and business performance and spans various verticals such as fraud, money laundering, customer management, credit and risk.
The vice-president of marketing and sales at Bezeq, Pnina Shenhav said that Alchemist “will help us to gain greater insights into the requirements of both our private and business customers, and will ensure that we are offering them the types of services and products that they require. It will enable us to continue being the premier provider of communications services in Israel”.
Norkom CEO Paul Kerley said that the need to identify the causes of churn is a very real concern for telecom firms. “The global cost of churn to telecom companies runs to billions of dollars every year,” he said.
“Alchemist helps telcos to identify who their high value customers are, what they need and how best to attract and retain them in the face of competition, deregulation and technological advances,” Kerley said.
By John Kennedy