Three years after William Tatham sold his tech company, Janna Systems, to Siebel Systems in a record value transaction for a Canadian software company, he launched a new venture, NexJ. At the time of the sale, Janna had become the world leader in enterprise Customer Relationship Management (CRM) software for financial services. NexJ would also focus on CRM technology, so the new company had to identify a competitive advantage that would help drive its growth and success in the highly competitive sector. “CRM is about managing relationships with customers. When you want to manage a relationship with someone, you need to know that person and establish faith, trust and loyalty so they believe in you and the relationship so you can do business,” says Mr. Tatham. “To do that, we break out the type of information needed to create a customer’s profile. We also keep track of every interaction, including if a commitment was made, if it was honoured and followed up, if the interaction was successful. To be fair, most of our competition is able to do this, maybe not as well as we do, but they do it fairly well.” So where would NexJ’s competitive advantage come from?
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