B2B SaaS unicorn Icertis shares how it is leveraging tech to address the challenges related to gathering and implementing customer feedback.
Software-as-a-service (SaaS) startup Icertis, which has dual headquarters in Bellevue, Washington, and Pune, India, says that its most significant challenge is to capture the customer’s feedback on time. “We are inherently different from a business to customer (B2C) startup. In a B2C space, for instance, if the user is unhappy, they share quick feedback through different engagement channels (social media, call, chatbots). If something fails or your quality deteriorates, people know it immediately. But that’s not the case in a B2B space where we operate in,” says Monish Darda.
The contract lifecycle management (CLM) player says that in the enterprise SaaS application space, the implementation needs extensive work since the data comes from various locations and geographies, and there are different regulations that one needs to adhere to.
“What happens in the B2B space is that deals take longer, sometimes years, to materialize. This involves a lot of people, processes, and budgets. The implementation cycle is long. Putting together everything takes a considerable time. So, from a tech perspective, now you spent two to three months executing the deal and getting filtered feedback [as there are so many people and processes involved]. In that case, you are building something new, which probably was an issue for a customer six months back,” Monish further explains.
Icertis says that it has consistently taken innovative and timely measures to capture customer feedback promptly and leveraged several technologies to deliver an exceptional customer experience. “We have invested a lot of time, money, and resources in our customer engagements. Your product management has to be extremely strong. What we have done in our application, we’ve feedback loops for consistent product improvements based on the suggestions by our users. There are analytics and AI-based tools that we leverage to analyze customer journeys and usage [such as visitors analytics, heatmap sessions recordings]” Monish states.
The AI-powered contract management platform provider also focuses big on capturing the feedback from multiple customer satisfaction (CSAT) surveys and has a dedicated team to analyze and prepare quick actions to address the customer grievances.
Icertis Contract Intelligence (ICI) platform leverages cloud-first APIs with intuitive user experience, and has been deployed extensively by leading enterprises such as Johnson and Johnson, Microsoft, Google, Cognizant, Wipro among others. The AI platform, according to the company, help enterprises reduce risks associated with missed contract obligations and ensure commercial compliance, track spending against the contract and seamless auditability for compliance reporting and SOW preparation.