Oracle has announced Oracle Sales Prospector, a new social CRM application designed to enhance CRM and the productivity of sales professionals.
Oracle Sales Prospector is the first of a new set of Oracle Social CRM Applications that leverage collective intelligence to give sales professionals qualified leads faster. With an intuitive, Web 2.0-type user experience, Oracle Sales Prospector identifies what to sell to which potential prospects based on buying patterns.
To help sales professionals focus on more productive leads, Oracle Sales Prospector is designed to mine and analyse information across internal systems and public information sources for top prospects recommendations, identify potential references and analyse purchase probability.
Using analytics to evaluate companies with similar profiles and intelligence gathered from the enterprise and public domain, Oracle Sales Prospector analyses the products purchased, as well as the purchase history of organisations, to recommend potential deals for sales representatives to pursue, projected revenue, close probability and time to close for each deal predicted. Based on this insight, a salesperson can assess the right opportunities to pursue for any given situation.
By centralising sales intelligence into a collective repository, sales people can benefit from others by accessing the same references and data that helped them close a deal with a similar, or like-minded, customer.
This network effect looks at every order taken from every customer. As more data is collected, via the network, the recommendations improve over time. Ultimately, the more data in the system, the better the results, which provides everyone with an incentive to use and feed the network.
Oracle Sales Prospector users have the flexibility to identify the most promising leads through search and filter capabilities, while getting results via a highly intuitive, rich graphical user interface.
Oracle Sales Prospector is built on open, standards-based technology including Oracle Fusion Middleware. This sales productivity application leverages an enterprise social networking foundation and is delivered via a Software-as-a-Service (SaaS) model leveraging Oracle Grid Computing.
Oracle Sales Prospector can be used as a standalone or to complement, and extend, first generation CRM systems that were built for reporting and forecasting. It can be used with virtually any CRM system, including: Siebel CRM, Oracle CRM On Demand, the Oracle E-Business Suite and SAP.
"Oracle Sales Prospector makes it easy for a sales professional to access valuable sales leads," said Oracle vice president of CRM, Mark Woollen. "Oracle Sales Prospector helps deliver sales recommendations based on the buying patterns of customers with similar attributes. This use of collective intelligence combined with a consumer-like user experience provides sales professionals with a powerful means of intelligently targeting new business and accelerating revenue."
Every sales professional wants to know what the next-likely-to-buy is for their customers, but they do not want to be burdened with cumbersome analysis that requires heavy IT involvement," said Sheryl Kingstone, director of Enterprise Research, Yankee Group. "The goal of Oracle Sales Prospector is to present this data in an easy-to-consume manner that does not require data entry and actually accelerates lead generation with a metaphor that sales professionals can easily grasp. Oracle Sales Prospector is another step forward for solidifying the trend for the consumerisation of the enterprise."