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Discharge Planning
03Oct

Discharge Planning

Discharge planning is crucial for smoothly transitioning patients from hospital care to the next stage of their recovery. This process requires collaboration among patients, caregivers, and providers to create a personalized plan that ensures continuity of care after hospitalization. Effective discharge planning must consider the patient’s care needs, preferences, and concerns. When done well, it helps prevent readmissions and alleviates strain on both patients and hospitals. However, balancing clinical judgment with patient data can challenge care teams already burdened with heavy workloads. Jean Halpin, COO at Grant Medical Center, shared how the organization has integrated AI tools to predict discharge dates and automate parts of the discharge planning process, helping to streamline patient care. Challenges of Effective Discharge Planning Halpin emphasized that a streamlined discharge process is essential for reducing wait times and improving patient engagement. Yet, various factors influence how quickly patients are discharged, particularly in emergency rooms where delays can affect overall patient flow. “Most of the wait time we experience as patients boils down to a lengthy discharge process that isn’t effectively moving patients,” Halpin explained. “It’s a domino effect. Someone waiting in the ER for a bed is delayed because another patient hasn’t been discharged when they should have been.” To address these inefficiencies, Grant Medical Center implemented the Qventus Inpatient Solution. This tool integrates with electronic health records (EHRs) to analyze patient data—such as clinical notes, history, and labs—and provides recommendations on discharge timing. These insights have helped reduce ER wait times and improved patient flow. Integrating AI into Clinical Workflows Adopting AI in healthcare comes with integration challenges, particularly ensuring that tools enhance, rather than hinder, clinicians’ workflows. Halpin noted that the Qventus tool minimizes disruptions by seamlessly pulling EHR data to generate an estimated discharge date, allowing care teams to focus on patient care without extra administrative burdens. “As a patient’s health changes, the [discharge] date can fluctuate, but AI uses its data to predict the most accurate day based on similar cases,” Halpin explained. “The care teams can then review the date and determine whether they agree, without having to sift through records to develop their own recommendation.” Halpin also highlighted the value of AI in reducing the administrative load. Tasks like coordinating discharges to rehab facilities, ordering tests, and prescribing medication consume significant time, and automating these functions allows care teams to focus more on direct patient care. Embracing AI to Alleviate Healthcare Worker Burdens For healthcare systems adopting AI, accurately assessing its impact is critical. At Grant Medical Center, leadership is measuring success by evaluating employee satisfaction, patient outcomes, and administrative improvements—such as time and cost savings. “By improving our patient flow, we reduced unnecessary stays by nearly 1,400 days. Patients are happy to go home on time, and our care teams can focus on working at the top of their license,” said Halpin. Despite the benefits, Halpin stressed that implementing AI requires thoughtful onboarding to ensure staff are comfortable with the new tools. Training and support are key to making the transition seamless and enabling teams to see how AI can enhance their workflows. “Health system leaders should embrace advancements that help alleviate burdens for workers,” she said. “Once teams understand the tool, they can prioritize patient care while AI handles the time-consuming admin tasks.” Halpin concluded that embracing AI in discharge planning not only improves operational efficiency but also empowers healthcare teams to deliver better, more focused care. Like Related Posts Salesforce OEM AppExchange Expanding its reach beyond CRM, Salesforce.com has launched a new service called AppExchange OEM Edition, aimed at non-CRM service providers. Read more The Salesforce Story In Marc Benioff’s own words How did salesforce.com grow from a start up in a rented apartment into the world’s Read more Salesforce Jigsaw Salesforce.com, a prominent figure in cloud computing, has finalized a deal to acquire Jigsaw, a wiki-style business contact database, for Read more Health Cloud Brings Healthcare Transformation Following swiftly after last week’s successful launch of Financial Services Cloud, Salesforce has announced the second installment in its series Read more

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October 3, 2024in AI Tools, Data, Salesforce Einstein, Salesforce Health and Life Sciences Solutions, Salesforce Optimization, Technology
Sales Incentives Can Boost Morale and Performance
03Oct

Sales Incentives Can Boost Morale and Performance

Showing up to work is one thing, but bringing genuine enthusiasm to the job is another. How can you motivate your team to meet and exceed their goals? Sales incentives are a powerful tool to ignite motivation, but they aren’t one-size-fits-all. Figuring out the best structure for your team can lead to more energized, results-driven reps. In this Tectonic insight, we’ll explore different types of sales incentives, how they motivate teams, and best practices for implementing an effective incentive program that drives real results. What are Sales Incentives? Sales incentives are rewards given to sales reps, in addition to their base compensation, for exceptional performance. This often means hitting or exceeding sales targets. While financial bonuses are the most common, incentives can come in many forms, all designed to motivate specific behaviors or outcomes. Types of Sales Incentives Here are five common types of sales incentives to consider: How Sales Incentives Motivate Your Team Sales incentives help reinforce desired behaviors, offering a clear path to rewards. They provide a mutual win: your company increases sales, while reps enjoy additional rewards. Many sales professionals are naturally driven by competition, but incentives give everyone, competitive or not, something tangible to work toward. Incentives also boost employee satisfaction, reduce turnover, and show that you value hard work. This can save your organization the cost and hassle of recruiting and onboarding new talent. Sales Incentives That Actually Work While money is the most popular reward, mixing in creative incentives can add excitement to your program. Consider these options: Best Practices for Implementing Sales Incentives To create an effective sales incentive program, keep these points in mind: Measuring the Impact of Sales Incentives on Performance To assess the effectiveness of your incentive program, track key performance indicators (KPIs) such as: Sales Incentives Can Boost Morale and Performance The key to a successful sales incentive program is simplicity and transparency. By crafting a plan that’s easy to understand and aligned with your team’s motivations, you can drive better performance and improve job satisfaction at the same time. Like Related Posts Salesforce OEM AppExchange Expanding its reach beyond CRM, Salesforce.com has launched a new service called AppExchange OEM Edition, aimed at non-CRM service providers. Read more The Salesforce Story In Marc Benioff’s own words How did salesforce.com grow from a start up in a rented apartment into the world’s Read more Salesforce Jigsaw Salesforce.com, a prominent figure in cloud computing, has finalized a deal to acquire Jigsaw, a wiki-style business contact database, for Read more Health Cloud Brings Healthcare Transformation Following swiftly after last week’s successful launch of Financial Services Cloud, Salesforce has announced the second installment in its series Read more

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October 3, 2024in Data, Technology
Salesforce 2024 outage
03Oct

October 2024 Outage

On October 1st, 2024, Salesforce experienced a significant outage impacting over 80 instances, causing core services to slow to a crawl. The outage, which began around 6:30 UTC, remained unresolved over 8.5 hours later, with the root cause still unknown at that time. The outage has been particularly damaging, as Salesforce emphasizes trust as one of its core values, promoting transparency and reliability in its service delivery. While the Salesforce Trust website, which provides real-time system status updates, remained operational, some users reported difficulty accessing it when they needed outage details, adding to their frustration. This disruption has been a major blow to organizations that depend on Salesforce for essential business functions such as customer relationship management (CRM), sales pipelines, and workflow management. Key Facts About the Outage Am I Affected by the Salesforce Downtime? If you’re unsure whether your instance is affected, you can check the real-time list of impacted cases on the Salesforce Trust website. To do this, identify your organization’s instance (e.g., NA54, EU13) and compare it to the affected list. However, the Trust site itself has experienced intermittent outages during the incident. Customers have reported issues such as: If you’re encountering these problems, your Salesforce instance is likely impacted. How Salesforce is Responding Salesforce has initiated an emergency release in phases, with the first phase nearly complete. Afterward, validation checks will be performed to assess system stability. While some customers have reported that their instances have recovered, others continue to experience severe issues. Salesforce Support has provided general troubleshooting advice, such as using alternative browsers or clearing caches, but many users have found this ineffective, as the root cause lies within Salesforce’s infrastructure, not user-side configurations. What to Do Now Looking Ahead Although the root cause of the outage remains undetermined, Salesforce has committed to providing regular updates. Customers are encouraged to monitor the Salesforce Trust website and communicate with support teams. Once the cause is identified, Salesforce plans to release a detailed report on the incident and how they will prevent future occurrences. Conclusion Salesforce’s outage on October 1st has caused widespread disruption for businesses globally. While emergency updates are underway and some instances are recovering, full resolution may take time. In the meantime, staying updated and preparing for intermittent issues is critial for those who rely on Salesforce for their daily operations. Stay tuned for further updates as Salesforce continues working to restore full functionality across all affected instances. Like Related Posts Salesforce OEM AppExchange Expanding its reach beyond CRM, Salesforce.com has launched a new service called AppExchange OEM Edition, aimed at non-CRM service providers. Read more The Salesforce Story In Marc Benioff’s own words How did salesforce.com grow from a start up in a rented apartment into the world’s Read more Salesforce Jigsaw Salesforce.com, a prominent figure in cloud computing, has finalized a deal to acquire Jigsaw, a wiki-style business contact database, for Read more Health Cloud Brings Healthcare Transformation Following swiftly after last week’s successful launch of Financial Services Cloud, Salesforce has announced the second installment in its series Read more

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October 3, 2024in Salesforce
Tableau Einstein Alliance to Help Partners Drive Success in the Agent Era
03Oct

Tableau Einstein Alliance to Help Partners Drive Success in the Agent Era

Salesforce Unveils Tableau Einstein Alliance to Empower Partners in the AI-Driven Agent Era Salesforce today announced the launch of the Tableau Einstein Alliance, a new partner community designed to create and deliver AI-driven solutions and analytical agents for Tableau Einstein. Built on the Salesforce platform and integrated with Agentforce, this initiative aims to help partners accelerate success in the emerging AI landscape. Tableau Einstein Alliance to Help Partners Drive Success in the Agent Era The Tableau Einstein Alliance offers partners a range of exclusive benefits, including early access to Salesforce’s product roadmaps, in-house AI experts, marketing support, and co-selling opportunities. Through the Alliance, partners will be able to develop agents, apps, and AI-driven solutions, enabling customers to navigate the autonomous AI revolution and rapidly extract value from their data and AI investments. The Alliance is set to launch in February 2025 with 25 founding members, including Tectonic, Capgemini, Deloitte, IBM, and Slalom. Solutions developed within the Alliance will be available on both the Salesforce AppExchange and the forthcoming Tableau Marketplace, offering developers a platform to create, share, and monetize analytical assets. Why It Matters:Partner ecosystems have been crucial in advancing major technological innovations, from cloud computing to software-as-a-service. With the rise of Agentforce, building a dynamic partner community is more critical than ever to drive the next wave of AI and analytics adoption. Salesforce’s Perspective: “Tableau’s success is deeply rooted in our partners’ commitment to our customers. Now, we’re investing in the Tableau Einstein Alliance to cultivate an ecosystem of visionary and innovative partners who will integrate Agentforce into every facet of analytics. The future of data and analytics is here, and our partners are essential to this journey.”— Ryan Aytay, CEO, Tableau Industry Perspectives: “Atrium has championed the vision of unified analytics since Tableau joined the Salesforce ecosystem. We’ve seen the incredible potential of Data Cloud and Tableau Cloud together, and we’re thrilled to help bring Tableau Einstein to market. Its integrated features will offer customers unprecedented productivity.”— Chris Heineken, CEO, Atrium “Tectonic’s “Insight to Action” methodology (i2a) is directly improved by the launch of the Tableau Einstein Alliance. By utilizing automated AI-solutions to power data-driven insights, we are able to deliver additional value to our customers.”— Dan Grossnickle, Tectonic “Tableau Einstein represents the next step in Salesforce’s data platforms and generative AI products. The value for clients from these data-driven insights is immense. We’re excited to help lead the way through the Tableau Einstein Alliance.”— Jean-Marc Gaultier, Head of Group Strategic Initiatives and Partnerships, Capgemini “Deloitte has long benefited from Tableau’s capabilities, and we’re excited to see how this next iteration will further empower our teams with data to drive growth. Integrating key features into tools like Salesforce and Slack will unlock even greater potential for us.”— Moritz Schieder, Tableau Alliance Leader and Director, Deloitte Germany “IBM is eager to leverage Tableau Einstein to deliver more value to our customers, regardless of where they work. As a strategic Agentforce partner and Salesforce customer, we are excited to be part of the next generation of analytics alongside Salesforce.”— Mary Rowe, Global Head of IBM Consulting Salesforce Practice Tableau Einstein Alliance to Help Partners Drive Success in the Agent Era and Tectonic, an insights 2 actions company, is excited to be a part of the innovation. Like Related Posts Salesforce OEM AppExchange Expanding its reach beyond CRM, Salesforce.com has launched a new service called AppExchange OEM Edition, aimed at non-CRM service providers. Read more The Salesforce Story In Marc Benioff’s own words How did salesforce.com grow from a start up in a rented apartment into the world’s Read more Salesforce Jigsaw Salesforce.com, a prominent figure in cloud computing, has finalized a deal to acquire Jigsaw, a wiki-style business contact database, for Read more Health Cloud Brings Healthcare Transformation Following swiftly after last week’s successful launch of Financial Services Cloud, Salesforce has announced the second installment in its series Read more

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October 3, 2024in Data, Generative AI, Salesforce, Salesforce Development Services, Salesforce Tableau
Salesforce and the Customer-Centric Dealership
03Oct

Salesforce and the Customer-Centric Dealership

Building Blocks for a Customer-Centric Dealership For a dealership to thrive, it must be truly customer-centric. As a Salesforce Implementation Partner, we at Tectonic know the key to success lies in prioritizing customer needs at every step. Growth, profitability, and market expansion come from consistently putting customers at the center of your strategies. Tectonic can help you implement Salesforce and the Customer-Centric Dealership. Customers as the Ultimate Scorekeepers Your customers are the true measure of your dealership’s success. Their evaluations extend far beyond pricing—they assess every touchpoint, from your website’s ease of use to the cleanliness of your parking lot, from your voicemail system to post-sale follow-ups. Each interaction shapes their perception. A single negative encounter, such as a poor experience with a parts associate, may not drive them away, but it certainly won’t motivate them to return. Creating positive, seamless interactions is crucial. Optimizing Customer-Centric Processes Are your processes truly serving your customers? Are they complimenting your dealership’s efficiency? Take something as routine as monthly statements. While they may be straightforward for your team, have you considered your customers’ perspectives? They may not even want a statement, or they might need quicker, more accessible responses to their inquiries. As customer expectations rise due to experiences with brands like Amazon and Starbucks, your dealership must ensure its processes meet or exceed those standards. A Customer portal like Salesforce Experience Cloud can put resources at your customers’ fingertips with the click of a button. Treating Customer Data as a Strategic Asset Customer data is one of your dealership’s most valuable assets. Yet, many dealerships struggle to fully utilize this resource. Are you effectively visualizing and leveraging your customer data? This data, gathered over years of operation, can drive strategic decision-making. To maximize its potential, it’s crucial to have a dedicated role—perhaps a Chief Data Officer—focused on managing, updating, and safeguarding this information. A well-managed data strategy unlocks insights that fuel customer-centric improvements. Letting Data Shape Your Processes With Salesforce, you can use customer data to quickly identify inefficiencies and enhance processes. Streamlined operations lead to happier customers and a more engaged team. For instance, if your manufacturer can deliver most parts within 24 hours, why maintain an overstocked inventory? By analyzing your inventory data, Salesforce can help you identify which parts are essential and which are surplus, allowing you to optimize stock levels and ensure smoother operations. Aligning your inventory with actual demand ensures your dealership functions efficiently, keeping both your customers and staff satisfied. Expert Guidance in Leveraging Salesforce for Growth Adopting a customer-centric approach and utilizing Salesforce to analyze and act on your data can transform your dealership. As your Salesforce Implementation Partner, we’re here to help you integrate these solutions to meet and exceed customer expectations while driving growth and profitability. Together, we can build a dealership that not only competes but thrives in today’s competitive market. With the future of AI, the connected car, and more; there has never been a betrter time to add Salesforce to your customer-centric tool box. Reach out to schedule an introductory call and start your journey toward a more customer-centric future. Like Related Posts Salesforce OEM AppExchange Expanding its reach beyond CRM, Salesforce.com has launched a new service called AppExchange OEM Edition, aimed at non-CRM service providers. Read more The Salesforce Story In Marc Benioff’s own words How did salesforce.com grow from a start up in a rented apartment into the world’s Read more Salesforce Jigsaw Salesforce.com, a prominent figure in cloud computing, has finalized a deal to acquire Jigsaw, a wiki-style business contact database, for Read more Health Cloud Brings Healthcare Transformation Following swiftly after last week’s successful launch of Financial Services Cloud, Salesforce has announced the second installment in its series Read more

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October 3, 2024in Data, Google, Salesforce, Salesforce Experience Cloud
Agentforce to the Team
03Oct

Supercharged Sales and Service Excellence

When sales and service teams are seamlessly aligned, organizations can transform every service interaction into a powerful opportunity to drive revenue and build customer loyalty. By delivering contextual, personalized offers at the right time, businesses can turn each customer touchpoint into a chance to solve problems, create value, and enhance engagement. With the help of real-time data and AI, we move beyond treating customer interactions as isolated events. Instead, we focus on understanding the unique needs and preferences of each customer, whether they’re reaching out for support, visiting a store, or engaging online. Every touchpoint becomes an opportunity to deliver tailored solutions, strengthen loyalty, and increase revenue. These examples are just a glimpse of the solutions we help our clients deploy. With our deep expertise in AI implementation and industry-specific insights, Tectonic is ideally positioned to guide you through activating AI agents that build on your successes. Our extensive experience across diverse sectors enables us to identify the most impactful opportunities for AI, ensuring tailored solutions that align with your business strategy. Tectonic’s proven approach ensures AI agents are deployed efficiently and effectively, driving ROI and delivering measurable results. Agentforce: Open, Extensible, and Transformative Agentforce is designed to foster smooth interactions between agents created on the platform and external agents and applications. With integration into Salesforce Data Cloud, it enables real-time data access for better, faster decision-making. Tectonic can help facilitate this interconnectivity across various channels and platforms, ensuring seamless operations. In a society that prioritizes digital, artificial intelligence is changing sales and service tactics. Adopting AI agents is crucial for business leaders to keep ahead of the competition and develop more effective and efficient methods of customer and employee support. AI agents are not just upgrades—they are transformative forces that redefine what’s possible. They empower organizations to move from envisioning possibilities to realizing a future of enhanced sales performance, streamlined operations, and unmatched customer satisfaction, all powered by AI. Salesforce’s Agentforce: Scaling Your Workforce with Autonomous AI Agents Agentforce provides fully customizable autonomous AI agents that can integrate with enterprise data and take action across sales, service, marketing, and commerce. The Agent Builder allows users to create agents that automate any business process, in any industry, using existing Salesforce tools such as workflows, Apex code, and prompt templates. Leading companies like The Adecco Group, BACA Systems, OpenTable, Saks, and Wiley are already leveraging Agentforce Service Agents to deliver faster, more personalized customer responses while improving operational efficiency. Salesforce (NYSE: CRM), the world’s #1 AI CRM, has announced the general availability of Agentforce. This new platform layer enables businesses to create and deploy AI agents that autonomously take action across any business function. Unlike traditional chatbots and copilots, Agentforce agents possess advanced reasoning abilities to make decisions and take actions such as resolving customer issues, qualifying sales leads, and optimizing marketing efforts. These agents operate independently—triggered by changes in data, business rules, pre-built automations, or external signals from APIs. Agentforce includes out-of-the-box agents that can be easily customized and deployed with low-code or no-code tools, working around the clock across any channel. The first of these, the Agentforce Service Agent, outperforms traditional chatbots by handling a wide range of tasks—from simple to complex—using pre-built topics and actions for customer support. These agents are fully customizable to serve various industries, such as retail with order management or financial services with billing and payment support. “Agentforce is redefining business possibilities, ushering in an era of AI-driven abundance and limitless workforces that enhance every employee’s capabilities, strengthen customer relationships, and fuel unprecedented growth,” said Marc Benioff, Chair and CEO of Salesforce. “Built on Salesforce’s trusted, fully customizable platform—integrating enterprise data, metadata, AI models, workflows, security, and applications—Agentforce is everything AI was meant to be.” The Power of Agentforce With Agentforce, there’s no need for DIY AI. Unlike other platforms that require complex integrations and custom builds, Agentforce is natively built into the Salesforce Platform. Customers can instantly convert their existing Flows, prompt templates, Apex code, and APIs into agent actions, seamlessly connecting to enterprise data and security models. With the added power of native tools like Data Cloud, Slack, and MuleSoft, Agentforce offers a streamlined and efficient approach to scaling your workforce with AI. The new Agent Builder empowers Salesforce admins and developers to easily create AI agents with natural language instructions and guardrails, enabling even more customization and control. Like Related Posts Salesforce OEM AppExchange Expanding its reach beyond CRM, Salesforce.com has launched a new service called AppExchange OEM Edition, aimed at non-CRM service providers. Read more The Salesforce Story In Marc Benioff’s own words How did salesforce.com grow from a start up in a rented apartment into the world’s Read more Salesforce Jigsaw Salesforce.com, a prominent figure in cloud computing, has finalized a deal to acquire Jigsaw, a wiki-style business contact database, for Read more Health Cloud Brings Healthcare Transformation Following swiftly after last week’s successful launch of Financial Services Cloud, Salesforce has announced the second installment in its series Read more

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October 3, 2024in Agentforce Platform, Artificial Intelligence, Data, Enterprise, Google, Hyperforce, Mulesoft, Salesforce, Salesforce Data Cloud
Viewing All Hard and Soft Credits for Household Accounts
02Oct

Viewing All Hard and Soft Credits for Household Accounts

Subject: Inquiry About Viewing All Hard and Soft Credits for Household Accounts What’s the best way to view a complete list of all hard and soft credits associated with a household account? I understand that the NPSP customizable rollups allow us to aggregate soft credit totals based on the Opportunity Contact Roles for each contact in a household, which is useful but can sometimes be inaccurate due to data entry errors in assigning the correct roles. Additionally, filtered opportunity-related lists on the contact page can show different soft and hard credits assigned to individual contacts. While helpful, this can be confusing for users who prefer to see all information at the household account level and may overlook the contact details. What I’m looking for is a comprehensive list at the account level that includes all opportunities linked to every contact in a household, regardless of the Opportunity Contact Roll type. Essentially, I need to see every soft and hard credit received by all household members. I came across a post by Megan Moorehead from over three years ago titled “Soft Credit Opportunities Related List on Household.” She replied to her own post a couple of months later (on September 10, 2021), but I only partially understand her solution. Before I delve deeper into her suggestions, I wanted to check if there are any simpler or more recent out-of-the-box options added to NPSP. I’m flexible regarding how to obtain this full list of all hard and soft credits related to household members—it could be through a related list or a report. I believe this is a common need among many organizations, so any suggestions on how you’re generating this type of list would be greatly appreciated. Response: You’re correct that this isn’t available out of the box. The challenge arises because opportunities aren’t always directly tagged to the household. You might consider using a screen flow to gather opportunities from household members and display them on the account page in a data table. Alternatively, you could create a custom field on opportunities (populated by a record-triggered flow) called “Household,” which would link opportunities back to the household based on the contact’s association at the time of creation. This would allow for a separate related list on the account page. One thing to keep in mind: since soft credits are only assigned via Contact Roles, if the issue is that Contact Roles are missing, then Megan’s Mass Action Scheduler solution—or any solution—won’t help. Those opportunities will not appear in the household list, except for those where someone in the household received hard credit. Like Related Posts Salesforce OEM AppExchange Expanding its reach beyond CRM, Salesforce.com has launched a new service called AppExchange OEM Edition, aimed at non-CRM service providers. Read more Salesforce Jigsaw Salesforce.com, a prominent figure in cloud computing, has finalized a deal to acquire Jigsaw, a wiki-style business contact database, for Read more Health Cloud Brings Healthcare Transformation Following swiftly after last week’s successful launch of Financial Services Cloud, Salesforce has announced the second installment in its series Read more Alphabet Soup of Cloud Terminology As with any technology, the cloud brings its own alphabet soup of terms. This insight will hopefully help you navigate Read more

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October 2, 2024in Data, Salesforce User Questions

CriticalRiver Showcases Salesforce Studio at Dreamforce 2024

CriticalRiver Showcases Salesforce Studio at Dreamforce 2024 PLEASANTON, CA, September 16, 2024 /EINPresswire.com/ — At Dreamforce 2024, CriticalRiver’s Salesforce Studio will highlight its expertise in utilizing Salesforce’s powerful tools to drive seamless digital transformations and enhance customer experiences. With Salesforce technologies at the core, CriticalRiver’s Salesforce Studio has enabled organizations to achieve sustainable growth while navigating the complexities of the digital era. “Dreamforce 2024 offers an excellent opportunity to showcase our longstanding partnership with Salesforce,” said Anji Maram, Founder and CEO of CriticalRiver Inc. As part of this partnership, CriticalRiver continues to develop cutting-edge solutions that boost business outcomes for its global clients. “Our Salesforce Studio has empowered our customers worldwide to implement state-of-the-art designs and solutions, helping them evolve and elevate their customer experiences,” added Vikram Lahiri, Global Salesforce Studio Leader. In addition to sharing success stories, the Salesforce Studio Growth & Leadership team will be available for in-depth discussions on emerging trends within the Salesforce ecosystem. Topics will cover the role of AI and automation in customer relationship management, as well as strategies for optimizing Salesforce investments. Join Us in Celebrating Success Trailblazers are invited to an exclusive social hour hosted by CriticalRiver on Tuesday, September 17, 2024, starting at 5 PM. For more information, please visit our website. About CriticalRiver Inc. CriticalRiver Inc. is a global leader in consulting and technology services, transforming businesses with innovative solutions that address complex challenges. Serving top enterprises, including Fortune 100 and 500 companies, CriticalRiver specializes in Digital Transformation, Digital Experience Management, Digital Engagement, and Digital Engineering. Our mission is to simplify, automate, and enhance operations for scalable growth. Recently, CriticalRiver became a 100% employee-owned company, reinforcing its dedication to customer-centricity, employee empowerment, and shared success. For more information about CriticalRiver’s participation at Dreamforce 2024 or to schedule an interview with our leadership team, please contact: [email protected]. Contact: Reet Sibia GwariCriticalRiver Inc.+1 844-228-5319 Legal Disclaimer:EIN Presswire provides this content “as is” without any warranties. We do not assume responsibility for the accuracy, completeness, or reliability of the information. If you have concerns regarding this article, please contact the author directly. Like Related Posts Salesforce OEM AppExchange Expanding its reach beyond CRM, Salesforce.com has launched a new service called AppExchange OEM Edition, aimed at non-CRM service providers. Read more The Salesforce Story In Marc Benioff’s own words How did salesforce.com grow from a start up in a rented apartment into the world’s Read more Salesforce Jigsaw Salesforce.com, a prominent figure in cloud computing, has finalized a deal to acquire Jigsaw, a wiki-style business contact database, for Read more Health Cloud Brings Healthcare Transformation Following swiftly after last week’s successful launch of Financial Services Cloud, Salesforce has announced the second installment in its series Read more

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October 2, 2024in Enterprise, Salesforce, Technology
Transforming Fundraising for Nonprofits
02Oct

Transforming Fundraising for Nonprofits

Tectonic’s Expertise in Salesforce Nonprofit Cloud: Transforming Fundraising for Nonprofits Salesforce’s Nonprofit Cloud (NPC) is revolutionizing how organizations manage their fundraising, offering tools specifically designed to meet the unique needs of the nonprofit sector. A standout feature of Nonprofit Cloud is its comprehensive fundraising functionality, which goes beyond simple transaction management to support the entire lifecycle of donor engagement. Central to understanding this functionality is the “three P’s” concept—Pursuit, Promise, and Payment. These three stages enable nonprofits to effectively track and manage donor relationships and contributions. Pursuit: Tracking the Opportunity The first “P” in Salesforce’s Nonprofit Cloud Fundraising process is Pursuit. This refers to the opportunity record, where the organization is actively seeking donations but no financial transaction has occurred yet. For example, a nonprofit might be pursuing a major donation of $500,000 from a corporate sponsor. At this stage, fundraisers track their progress through various phases of the opportunity, whether they win or lose the donation bid. The focus here is on relationship-building and securing commitments rather than managing financial transactions. This early-stage tracking lays the foundation for a more organized approach as the process advances. Promise: Earninging the Commitment Once a donor—whether an individual or a corporation—has committed to contributing, the Promise phase begins. Here, the Opportunity record transforms into a Gift Commitment in Salesforce. For instance, when the company officially pledges the $500,000 donation, this formalizes their promise. The Gift Commitment record is dynamic and can be modified over time to reflect changes, such as adjusting the amount to 0,000 or setting up recurring donations. This flexibility enables nonprofits to track pledges over time and maintain accurate records of what has been promised versus what has been received. Financial teams especially benefit from this capability, as it aids in reporting and financial planning. Payment: Completing the Financial Act The final “P” is Payment, capturing the financial transaction. This is where the Gift Transaction record comes into play, reflecting the completion of the financial act. For example, once the company has paid $250,000 of the promised $400,000, the Payment record updates to reflect this. Payment records can either stand alone for one-time donations or be linked to Gift Commitments or a Gift Commitment Schedule for installment payments or recurring donations. This structure gives nonprofits the flexibility to track all stages of financial fulfillment and adjust their fundraising strategies accordingly. Leveraging the Three P’s for Success The Pursuit, Promise, and Payment framework provides nonprofits with a clear, structured approach to managing the entire donor lifecycle. This system also eases the transition from Salesforce’s legacy Nonprofit Success Pack (NPSP) to the new Nonprofit Cloud framework. By effectively tracking donation pursuits, managing gift commitments, and documenting payments, nonprofits can maintain a comprehensive, real-time view of their fundraising efforts. This streamlined process not only improves data management but also enhances transparency, fostering trust with donors. The Future of Fundraising with Salesforce Nonprofit Cloud Salesforce’s Nonprofit Cloud Fundraising functionality, anchored by the three P’s, represents a significant evolution in nonprofit technology. By offering tools that manage every stage of donor engagement—from pursuit to payment—Salesforce empowers nonprofits to maximize their fundraising potential. Organizations can cultivate stronger donor relationships, track commitments more accurately, and ensure financial transactions are completed and documented efficiently. This holistic approach enables nonprofits to make informed decisions, boost donor trust, and drive their missions forward. Want to learn more about how Tectonic can help streamline donation processes, track total payments, maintain a full 360° history of the donation cycle, and create funder-worthy visualizations? Contact us at [email protected]. Like Related Posts Salesforce OEM AppExchange Expanding its reach beyond CRM, Salesforce.com has launched a new service called AppExchange OEM Edition, aimed at non-CRM service providers. Read more The Salesforce Story In Marc Benioff’s own words How did salesforce.com grow from a start up in a rented apartment into the world’s Read more Salesforce Jigsaw Salesforce.com, a prominent figure in cloud computing, has finalized a deal to acquire Jigsaw, a wiki-style business contact database, for Read more Health Cloud Brings Healthcare Transformation Following swiftly after last week’s successful launch of Financial Services Cloud, Salesforce has announced the second installment in its series Read more

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October 2, 2024in Data, Salesforce, Salesforce Nonprofit Cloud, Technology
Data Governance in Salesforce
01Oct

Data Governance in Salesforce

Use Case Highlights Introduction Salesforce is a powerful platform for building strong customer relationships. However, to maximize the value of your data, a strategic approach is essential. Unmanaged data can lead to inconsistencies, security vulnerabilities, and compliance issues, making it difficult to rely on Salesforce data for strategic decision-making. This data governance insight looks into data governance for Salesforce and highlights top tools that integrate seamlessly with the platform. While these tools are not exclusively built for Salesforce, they offer powerful features that enhance the accuracy, security, and regulatory compliance of your data. Implementing a data governance strategy with the right tools unlocks the hidden potential of your Salesforce data. Imagine making decisions based on reliable information, streamlining workflows, and maximizing data value—all possible with clean, trustworthy data at your fingertips. Disclaimer: The specific third-party security solutions mentioned in this insight are for informational purposes only and do not constitute endorsements by Tectonic. 6 Data Governance Tools for Salesforce Users Understanding the Importance of Data Governance in Salesforce Salesforce, a cornerstone for managing customer relationships, thrives on a rich data repository. However, unmanaged data growth can lead to inconsistencies, security vulnerabilities, and compliance hurdles, hindering the data’s potential to drive strategic decisions. Data governance goes beyond data management. It establishes principles and practices to ensure your Salesforce data is: Why is data governance crucial for Salesforce? Data governance transforms data from a potential liability into a strategic asset, driving informed decisions, fostering trust, and empowering your organization to achieve its goals. Key Challenges in Salesforce Data Governance Implementing robust data governance within Salesforce presents challenges: Evaluating Data Governance Tools for Salesforce Choosing the right data governance tool for Salesforce requires careful evaluation: Comparing Top Data Governance Solutions for Salesforce When comparing top data governance solutions, assess factors like features, pricing, scalability, and customer reviews. A comparison table can offer a quick overview of key features and differences between solutions. Product Key Features Pricing Collibra Centralized platform, business glossary management, data lineage tracking, access controls Starting at $170,000/year Dataedo Collaborative data catalog, data documentation, quality rules, improved data literacy Starting at $18,000/year Alation Data discovery and intelligence platform, searchable data catalog, business terms & data lineage Starting at $60,000/year OneTrust Data Governance AI-driven discovery & classification, integrated catalog, governance policy management Contact for pricing Talend Data Fabric Data quality checks, automated metadata management, data inventory & Trust Score, stewardship workflows Starting at $12,000/year Informatica Axon AI-powered discovery & quality assessment, stewardship communication, curated marketplaces, common dictionary Contact for pricing Data Governance in Salesforce This table provides a snapshot of key features and pricing, helping organizations make informed decisions based on their needs and budget. Reach out to Tectonic if you need assistance. Tectonic’s Remarks This insight has provided the knowledge to harness the true potential of your Salesforce data. Data governance is no longer a distant concept but a powerful practice that every organization must embrace. Success lies in selecting the right data governance solution. Consider your specific needs—whether it’s robust data lineage tracking offered by tools like Collibra and Talend, user-friendly interfaces from Dataedo and Alation, or cost-effectiveness. Several tools explored in this insight also offer strong security features to safeguard your customer data. Tools like Informatica Axon can assist with data discovery and quality assessment, empowering data stewards. By embracing data governance and leveraging the right tools, you can transform Salesforce data from a raw resource into a strategic asset. This newfound data clarity fuels informed decision-making, fosters customer trust, and drives your organization toward achieving its goals. Like Related Posts Salesforce OEM AppExchange Expanding its reach beyond CRM, Salesforce.com has launched a new service called AppExchange OEM Edition, aimed at non-CRM service providers. Read more The Salesforce Story In Marc Benioff’s own words How did salesforce.com grow from a start up in a rented apartment into the world’s Read more Salesforce Jigsaw Salesforce.com, a prominent figure in cloud computing, has finalized a deal to acquire Jigsaw, a wiki-style business contact database, for Read more Health Cloud Brings Healthcare Transformation Following swiftly after last week’s successful launch of Financial Services Cloud, Salesforce has announced the second installment in its series Read more

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October 1, 2024in Data, Enterprise, Salesforce
Financial Services Cloud and Core
30Sep

Financial Services Cloud and Core

Remember When Salesforce First Launched Financial Services Cloud in 2016? The managed package introduced a standardized data model that transformed how banks, credit unions, and implementation partners utilized Salesforce. It was a game-changer! But Salesforce hasn’t stopped innovating. Since 2019, they’ve been enhancing the core platform to meet demands for greater performance and flexibility. Now, in 2024, Salesforce has rolled out its biggest core release yet: Financial Account Management Standard Objects. This strategic update could redefine how financial data is managed within Financial Services Cloud (FSC). Understanding these updates is essential for all FSC users. The introduction of standard objects signals a major shift in the platform. Staying informed ensures that your institution remains innovative and fully leverages Financial Services Cloud. Let’s explore what’s changing and why it matters. 1. A New Era for Financial Accounts Say goodbye to limitations and hello to flexibility! The core platform introduces a modern way to manage financial accounts: The elimination of financial account triggers is a huge win for performance. Salesforce’s new data model is designed to handle real-time integrations, which can be a game-changer for many institutions. But real-time integration isn’t necessary for everyone. Depending on your organization’s needs, you might find that a combination of batch integration, on-demand integration, and data visualization works best. If you’re dealing with slow nightly batch data loads due to financial account triggers, exploring the new standard objects could be the solution to your performance woes. 2. Core Offers Benefits for Everyone 3. The FSC Managed Package is Still Supported Salesforce has reassured customers that the FSC Managed Package will continue to be supported. However, with Core advancements, Salesforce is re-evaluating its long-term strategy to provide more streamlined and scalable solutions. While migration to Core isn’t mandatory, Salesforce’s ongoing focus on this new architecture suggests that aligning with the core platform may offer increasing benefits over time. To stay ahead of the curve and access the latest features, it’s wise to explore the potential advantages of migration. Tectonic can help assess your current environment, weigh the benefits of moving to Core, and develop a strategy that aligns with your business goals. 4. Exciting Core Enhancements Core introduces powerful new features that simplify financial data management, such as: 5. The Future Is Core, and You Need the Right Partner to Chart Your Course Salesforce’s shift toward Core highlights the platform’s future direction. While the managed package remains relevant for now, Core offers a more modern, flexible solution for managing financial data. To make the most of these changes and ensure a smooth transition, partnering with an experienced team like Tectonic is crucial. Transitioning to Core requires careful planning. Here’s a roadmap to guide you: Ready to Explore the Power of Core? Contact Tectonic today to learn how we can help guide your transition to Core and capture the full potential of these new features to drive your business forward. Like1 Related Posts Salesforce OEM AppExchange Expanding its reach beyond CRM, Salesforce.com has launched a new service called AppExchange OEM Edition, aimed at non-CRM service providers. Read more The Salesforce Story In Marc Benioff’s own words How did salesforce.com grow from a start up in a rented apartment into the world’s Read more Salesforce Jigsaw Salesforce.com, a prominent figure in cloud computing, has finalized a deal to acquire Jigsaw, a wiki-style business contact database, for Read more Health Cloud Brings Healthcare Transformation Following swiftly after last week’s successful launch of Financial Services Cloud, Salesforce has announced the second installment in its series Read more

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September 30, 2024in Data, Salesforce Financial Services Solutions, Salesforce Implementation Services
Predictive Analytics
30Sep

Predictive Analytics in Salesforce

Predictive Analytics in Salesforce: Enhancing Decision-Making with AI In an ever-changing business environment, companies seek tools to forecast trends and anticipate challenges, enabling them to remain competitive. Predictive analytics, powered by Salesforce’s AI capabilities, offers a cutting-edge solution for these needs. In this guide, we’ll explore how predictive analytics works and how Salesforce empowers businesses to make smarter, data-driven decisions. What is Predictive Analytics? Predictive analytics uses historical data, statistical modeling, and machine learning to forecast future outcomes. With the vast amount of data organizations generate—ranging from transaction logs to multimedia—unifying this information can be challenging due to data silos. These silos hinder the development of accurate predictive models and limit Salesforce’s ability to deliver actionable insights. The result? Missed opportunities, inefficiencies, and impersonal customer experiences. When organizations implement proper integrations and data management practices, predictive analytics can harness this data to uncover patterns and predict future events. Techniques such as logistic regression, linear regression, neural networks, and decision trees help businesses gain actionable insights that enhance planning and decision-making. Einstein Prediction Builder A key component of the Salesforce Einstein Suite, Einstein Prediction Builder enables users to create custom AI models with minimal coding or data science expertise. Using in-house data, businesses can anticipate trends, forecast customer behavior, and predict outcomes with tailored precision. Key Features of Einstein Prediction Builder Note: Einstein Prediction Builder requires an Enterprise or Unlimited Edition subscription to access. Predictive Model Types in Salesforce Salesforce employs various predictive models tailored to specific needs: Building Custom Predictions Salesforce supports custom predictions tailored to unique business needs, such as forecasting regional sales or calculating appointment attendance rates. Tips for Building Predictions Prescriptive Analytics: Turning Predictions into Actions Predictive insights are only as valuable as the actions they inspire. Einstein Next Best Action bridges this gap by providing context-specific recommendations based on predictions. How Einstein Next Best Action Works Data Quality: The Foundation of Accurate Predictions The effectiveness of predictive analytics depends on the quality of your data. Poor data—whether due to errors, duplicates, or inconsistencies—can skew results and undermine trust. Best Practices for Data Quality Modern tools like DataGroomr can automate data validation and cleaning, ensuring that predictions are based on trustworthy information. Empowering Smarter Decisions with Predictive Analytics Salesforce’s AI-driven predictive analytics transforms decision-making by providing actionable insights from historical data. Businesses can anticipate trends, improve operational efficiency, and deliver personalized customer experiences. As predictive analytics continues to evolve, companies leveraging these tools will gain a competitive edge in an increasingly dynamic marketplace. Embrace the power of predictive analytics in Salesforce to make faster, more strategic decisions and drive sustained success. Like1 Related Posts Salesforce OEM AppExchange Expanding its reach beyond CRM, Salesforce.com has launched a new service called AppExchange OEM Edition, aimed at non-CRM service providers. Read more The Salesforce Story In Marc Benioff’s own words How did salesforce.com grow from a start up in a rented apartment into the world’s Read more Salesforce Jigsaw Salesforce.com, a prominent figure in cloud computing, has finalized a deal to acquire Jigsaw, a wiki-style business contact database, for Read more Health Cloud Brings Healthcare Transformation Following swiftly after last week’s successful launch of Financial Services Cloud, Salesforce has announced the second installment in its series Read more

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September 30, 2024in Data, Enterprise, Salesforce, Salesforce Einstein
Salesforce ERP Integration
29Sep

Salesforce ERP Integration

Unlock the Power of Salesforce and ERP Integration Salesforce is known worldwide for its unmatched capabilities as a CRM platform. But when integrated with an ERP system, the potential multiplies. Together, they create a cohesive environment where workflows are streamlined, financial processes are optimized, decision-making is enhanced, and customer relationships are improved—all within one unified system. However, you might have questions like: How does ERP integration with Salesforce work? or What are the benefits of this integration? Let’s jump in and answer all your questions! What is ERP and Its Benefits? ERP (Enterprise Resource Planning) is software that integrates multiple business functions into a single platform. It enables you to manage key processes like human resources, accounting, sales, inventory, compliance, and order management. What makes ERP systems unique is the shared database that gives all employees access to the same real-time information across departments. While different from a CRM platform, ERP can be integrated with Salesforce to further boost business efficiency and productivity. Key benefits of an ERP system include: How Do Salesforce and ERP Work Together? Salesforce focuses on managing customer relationships, sales, marketing, and service operations. In contrast, ERP systems handle core business processes like finance, human resources, and supply chain management. When Salesforce and ERP are integrated, they create a seamless data flow between both systems. This integration synchronizes key data, like transactions and customer information, providing unified visibility across departments. It enhances efficiency and delivers better customer experiences by offering personalized services. Why Integrate Your ERP with Salesforce? While Salesforce helps manage customer relationships, integrating it with an ERP system offers additional advantages: Types of Salesforce – ERP Integrations There are various ways to integrate Salesforce with an ERP, depending on your business needs: Choosing the Right ERP to Integrate with Salesforce Not sure which ERP system is right for your Salesforce integration? Consider the following factors: ERP Systems Compatible with Salesforce Salesforce’s flexibility allows it to integrate with most ERP systems, including Sage Intacct, Sage X3, Sage 300, Sage 100, Sage 50 US, and Acumatica, among others. This flexibility ensures you can find the right ERP for your business operations. Key Functionalities with Salesforce – ERP Integration Here are some essential features you can expect from Salesforce and ERP integration: Best Practices for Seamless Integration To ensure a smooth Salesforce and ERP integration, follow these best practices: Conclusion Integrating an ERP system with Salesforce CRM can transform your business by unlocking new levels of productivity, efficiency, and growth. As your integration partner, Tectonic offers expertise in Salesforce and third-party ERP systems. Ready to streamline your operations and boost performance? Contact us today to start your ERP-Salesforce integration journey! Like1 Related Posts Salesforce OEM AppExchange Expanding its reach beyond CRM, Salesforce.com has launched a new service called AppExchange OEM Edition, aimed at non-CRM service providers. Read more The Salesforce Story In Marc Benioff’s own words How did salesforce.com grow from a start up in a rented apartment into the world’s Read more Salesforce Jigsaw Salesforce.com, a prominent figure in cloud computing, has finalized a deal to acquire Jigsaw, a wiki-style business contact database, for Read more Health Cloud Brings Healthcare Transformation Following swiftly after last week’s successful launch of Financial Services Cloud, Salesforce has announced the second installment in its series Read more

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September 29, 2024in Data, Enterprise, Salesforce, Salesforce Implementation Services, Salesforce Managed Services, Salesforce Manufacturing Automotive Energy

How to Hire the Right Salesforce Developer

Maximizing Salesforce: How to Hire the Right Salesforce Developer Salesforce has revolutionized how businesses manage customer relationships, becoming a cornerstone for enhancing customer service and engagement. However, to fully leverage its potential, skilled professionals are needed to customize and develop the platform to meet specific business needs. Hiring the right Salesforce developer is crucial for ensuring your organization gets the most out of this powerful tool. In this guide, we’ll explore key considerations before hiring a Salesforce developer, the steps involved in the hiring process, and tips for effective Salesforce recruitment. How to Hire the Right Salesforce Developer. Understanding Salesforce Developer Roles Before diving into the hiring process, it’s essential to understand the different Salesforce roles: Your business needs may require a combination of these roles. Depending on the complexity of your Salesforce environment, you might need more than just a developer. Key Factors to Consider Before Hiring a Salesforce Developer The most critical factor when hiring a Salesforce developer is their skill set. Salesforce development requires deep knowledge of various technologies and tools. Key skills include: Assessing a candidate’s industry-specific experience can provide insight into their ability to address your business challenges. Salesforce certifications validate a professional’s expertise. Key certifications to look for include: These certifications provide assurance of the candidate’s competency. A strong Salesforce developer should not only possess technical skills but also understand business processes. Developers who can translate business requirements into technical solutions will drive business value. Salesforce development often involves troubleshooting complex issues. Assess a candidate’s problem-solving abilities through technical interviews or practical tests. Strong problem-solvers will be invaluable when unexpected challenges arise. Effective communication is vital for a Salesforce developer. They must explain technical concepts to non-technical stakeholders and document processes clearly for future maintenance. How to Hire the Right Salesforce Developer Start by defining the skills, experience, and certifications needed for the role. A well-defined job description will attract the right candidates. Create job postings that reflect the role’s responsibilities and qualifications. Use relevant keywords like “Salesforce job postings” and “Salesforce employment opportunities” to attract suitable candidates. Screen candidates based on their resumes and initial interviews, looking for a strong match between their experience and your job requirements. Evaluate candidates through practical tests to assess their Salesforce-specific coding skills and problem-solving abilities. Conduct multiple interview rounds: Salesforce Recruitment Tips Use platforms like LinkedIn and Salesforce-specific groups to find candidates and connect with the Salesforce community. Partnering with recruitment agencies that specialize in Salesforce roles can streamline the hiring process. Salesforce professionals are in high demand, so offering competitive salaries and benefits is key to attracting top talent. Identify candidates committed to professional development, as Salesforce is constantly evolving with new features and practices. Highlighting your company’s culture, values, and growth opportunities can attract top talent. Why Choose Tectonic – How to Hire the Right Salesforce Developer? Hiring the right Salesforce developer requires a thorough understanding of your business needs, a clear definition of the required skills, and a meticulous hiring process. By emphasizing these factors, you can ensure you recruit the right talent to drive your Salesforce initiatives. However many Salesforce projects don’t require a long term developer, business analyst, or project manager. Outsourcing these roles to Tectonic can provide a valuable savings in cost and improved project outcomes with a clean CRM in place from day one. At Tectonic, we take pride in being a leading Salesforce provider. Our team of certified Salesforce professionals is equipped with the skills and experience to meet your business demands. Whether you need a developer, administrator, or consultant, Tectonic’s rigorous recruiting process ensures we deliver the best talent. Partner with Tectonic to fully harness the potential of Salesforce and elevate your business to the next level. Contact us today to learn more about our Salesforce staffing solutions and how we can help you achieve your CRM goals. Like Related Posts Salesforce OEM AppExchange Expanding its reach beyond CRM, Salesforce.com has launched a new service called AppExchange OEM Edition, aimed at non-CRM service providers. Read more The Salesforce Story In Marc Benioff’s own words How did salesforce.com grow from a start up in a rented apartment into the world’s Read more Salesforce Jigsaw Salesforce.com, a prominent figure in cloud computing, has finalized a deal to acquire Jigsaw, a wiki-style business contact database, for Read more Health Cloud Brings Healthcare Transformation Following swiftly after last week’s successful launch of Financial Services Cloud, Salesforce has announced the second installment in its series Read more

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September 29, 2024in Salesforce
Benefits of AI in Banking
28Sep

Benefits of AI in Banking

Artificial intelligence (AI) is rapidly gaining traction in the banking and finance sector, with generative AI (GenAI) emerging as a transformative force. Financial institutions are increasingly adopting AI technologies to automate processes, cut operational costs, and boost overall productivity, according to Sameer Gupta, North America Financial Services Organization Advanced Analytics Leader at EY. While traditional machine learning (ML) techniques are commonly used for fraud detection, loan approvals, and personalized marketing, banks are now advancing to incorporate more sophisticated technologies, including ML, natural language processing (NLP), and GenAI. Gupta notes that EY is observing a growing trend of banks using ML to enhance credit approvals, improve fraud detection, and refine marketing strategies, leading to greater efficiency and better decision-making. A recent survey by Gartner’s Jasleen Kaur Sindhu reveals that 58% of banking CIOs have either deployed or plan to deploy AI initiatives in 2024, with this number expected to rise to 77% by 2025. “This indicates not only the growing importance of AI but also its fundamental role in shaping how banks operate and deliver value to their customers,” Sindhu said. “AI is becoming essential to the success of banking institutions.” Here are five key benefits of AI applications in banking: Despite the benefits, concerns about AI in banking persist, particularly regarding data privacy, bias, and ethics. AI can inadvertently extract personal information and raise privacy issues. Regulatory challenges and the potential for AI systems to perpetuate biases are also major concerns. As AI technology evolves, banks are investing in robust governance frameworks, continuous monitoring, and adherence to ethical standards to address these risks. Looking ahead, AI is expected to revolutionize banking by delivering personalized services, enhancing customer interactions, and driving productivity. Deloitte forecasts that GenAI could boost productivity by up to 35% in the top 14 global investment banks, generating significant additional revenue per employee by 2026. Like Related Posts Salesforce OEM AppExchange Expanding its reach beyond CRM, Salesforce.com has launched a new service called AppExchange OEM Edition, aimed at non-CRM service providers. Read more Salesforce Jigsaw Salesforce.com, a prominent figure in cloud computing, has finalized a deal to acquire Jigsaw, a wiki-style business contact database, for Read more Health Cloud Brings Healthcare Transformation Following swiftly after last week’s successful launch of Financial Services Cloud, Salesforce has announced the second installment in its series Read more Alphabet Soup of Cloud Terminology As with any technology, the cloud brings its own alphabet soup of terms. This insight will hopefully help you navigate Read more

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September 28, 2024in Artificial Intelligence, Data, Generative AI, Technology

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