SugarCRM has announced the acquisition of Node, an artificial intelligence (AI) platform that leverages CRM data and vast external sources to deliver an unparalleled level of predictability across a whole array of different business use cases.
The acquisition fuels Sugar’s time-aware CX platform by automatically forecasting expected outcomes and highlighting previously unforeseen challenges and opportunities.
Making sense of data is a perennial issue for companies. Deep learning models are limited by the quality and quantity of input data, which historically has been inaccurate or incomplete in real-life CRM implementations. Node’s deep learning models identify signals with up to 81% greater accuracy than heuristic-based approaches to deliver the tangible benefits of heightened performance and true predictability.
“Sugar has been a fantastic platform at its heart,” said Paul Greenberg, president of the 56 Group and author of CRM at the Speed of Light. “Adding Node has the potential to bring impressive predictive accuracy to Sugar’s platform and products. And now more than ever it is critical to leverage all available data and signals to work towards better outcomes for both customers and the business alike.”
Today’s acquisition is the latest in a series of innovations supporting Sugar’s vision for the next frontier of high-definition customer experience (HD-CX) which began last year with the launch of Sugar’s time-based, no touch CX solutions for sales, marketing and service teams.
“Obtaining a high definition view of your business and customers, from pipeline to forecasting, is all about replacing a fragmented, dated, and distorted picture with one that is sharply focused and rich in breadth and depth,” said Craig Charlton, CEO of SugarCRM. “Sugar is democratizing AI, ushering in a new frontier in CX with its powerful combination of AI, time-aware and data enrichment, to drive business performance and enable predictability for companies of all sizes.”
Extending Sugar’s time-aware CX platform, Node’s AI technology adds the most coveted element of time–the future. The combined solution offers wide-ranging capabilities for sales, marketing and service teams and include (but are in no way limited to):
Identifying customers most likely to churn, giving precious runway to remediate and engage with customers in the most strategic way possible
Predicting likelihood to convert from lead scoring models
Insight-driven forecasting and prescriptive guidance for higher quota attainment and sale close monitoring
Seamless recommendations for add-on products during the right phase of the customer journey increasing average sale size
Ascertaining marketing attribution and contribution to closed business
Improving customer engagement models through predictive case routing and contextual data in real time to empower customer service professionals