Sales automation platform provider, SugarCRM, acquired the revenue intelligence solution provider sales-i. The company confirmed the news in a press release. According to the announcement, this acquisition will help SugarCRM customers maximize both their revenue, and profitability.
Last year, SugarCRM and sales-i announced a new partnership whose goal was to improve business-to-business (B2B) sales performance. The fruits of that partnership came in the form of AI-powered revenue intelligence, leveraging the data of a business’ enterprise resource planning (ERP) systems, and CRM. Businesses got actionable insights which they used to boost sales, improve their marketing, and offer better service and support. Consequently, they improved their revenue and experienced higher levels of retention, the companies said.
Now, the two companies are taking the next step in this partnership, through the acquisition. According to Craig Charlton, CEO of Sugar, businesses can now expect to “maximize profitability”:
Leveraging AI
“We are bringing together two great companies with complementary products, a shared vision for customer success, and experience and expertise at using machine learning, AI, and generative AI to unlock the value of front-office and back-office data,” said Craig Charlton, CEO of SugarCRM. “This combination delivers actionable, intelligent sales strategies that will improve revenue, maximize profitability, increase customer satisfaction and produce more efficient sales people.”
With the acquisition, Sugar customers will be able to leverage AI to see, interpret, and act on their own customer data; will get an intelligent account management system that supports companies with large-scale management requirements; and will let customers outmanoeuvre new competitive threats by unlocking the value of existing data, among other things. With more than two million customers worldwide, and annual revenues of $73.5 million in annual revenue, SugarCRM is considered one of the best CRM software providers out there.
Today, every business is a data business, but the biggest challenge is turning that data into valuable insights, which can help managers identify cross-sell or up-sell opportunities, as well as keeping existing customers satisfied.
Financial details of the acquisition were not disclosed.
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