SugarCRM Acquires Node
SugarCRM has acquired Node, provider of an artificial intelligence (AI) platform that leverages CRM data and external data sources to deliver predictability across business use cases. Financial terms of the deal were not disclosed.
The acquisition fuels Sugar's time-aware CX platform by automatically forecasting expected outcomes and highlighting previously unforeseen challenges and opportunities.
Node claims that its deep learning models identify signals with up to 81 percent greater accuracy than heuristic-based approaches.
"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, in a statement. "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."
The combined solution offers capabilities for sales, marketing, and service teams. These include the following:
- The ability to identify customers most likely to churn;
- The ability to predict customers' 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 customer journey;
- The ability to ascertain marketing attribution and contribution to closed business; and
- Improved customer engagement models through predictive case routing and contextual data in real time.
"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 toward better outcomes for both customers and the business alike."
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