Omega CRM, a Spanish company specialized in creating 360 transformation experiences to connect clients and organizations through the use of technology and data, has shared a report with Cointelegraph en Español explaining the benefits for clients and companies of using blockchain for customer experience.
Founded in 2002, Omega CRM points out that blockchain technology is being applied to a variety of areas such as banking, identity, supply chain traceability, insurance, IoT decentralization, notary, etc., and that it is so important, They pointed, because a recent study by Gartner places its possible future value, predicting that the commercial value added by blockchain will grow more than USD 176 million in 2025 and will continue to increase until it surpasses 3.1 trillion in 2030.
Among the benefits that blockchain promotes for clients and companies, they point out from Omega CRM, are: trust and transparency, security and traceability, security and good use of data, and finally, smart contracts, each one explained as follows:
Trust and transparency
“Blockchain technology is based on the transparency and traceability of transferred data, so companies can take advantage of this feature to foster trust among consumers, displaying, for example, all activity in perpetuity associated with customers. This can create greater brand loyalty and an overall better user experience (CX) thanks to increased customer trust, which is essential in the technological context in which we live. According to the Drive Long-Term Trust & Loyalty Through Transparency study, up to 94% of consumers indicated they were more likely to be loyal to a brand that offers transparency, while 73% said they were willing to pay more for a product that offers total transparency ”, they stated.
Security and traceability
“One of the main areas for improvement by companies is cybersecurity, specifically, the security of their customers’ data. According to the recent Hiscox Cyber Preparation Report, 45% of Spanish SMEs are considered ‘cybernovates’ and therefore have increased their IT budget by 56%, from 95 million euros in 2020 to 149 million euros in 2021. One of the main technologies in which they have invested their budget is the blockchain, since it can serve to guarantee the security and traceability of customer data. Each process and transaction is encrypted and given a unique identification code, which is verified by the community in a fully decentralized way. Thus, customers can ensure the reliability of their data and its security, being able to see if there has been someone who has manipulated that data and guaranteeing the independence of the entire process “, they commented.
Simplification and good use of data
“According to data from Comscore and Entrepreneur, 56% of buyers expect a wide variety of payment options every time they arrive at the virtual checkout, but at the same time, customers are looking for greater agility in the purchase process. The use of the blockchain completely changes this paradigm, since the client does not have to provide all their data to the company, but rather these are replaced by a blockchain code that serves to identify themselves. The CX would therefore be completely transformed, being a faster and simpler purchasing process at the same time that the client chooses to provide data or not to the companies that offer the best reputation and service. These companies could make the best use of this data by integrating it into a CRM that would allow them to quickly merge and merge existing data, along with data integrity checks, ”they argued.
Smart contracts
“During the last year, the online purchase of all kinds of goods and services has increased significantly. According to the ‘E-commerce Study 2021’ in 2021, e-commerce users buy online 3.8 times a month, compared to 2020 and the average expense per purchase act also increases, reaching an average value of € 89 (€ 68 in 2020 and € 64 in 2019). The implementation of blockchain technology would ensure the optimal form of delivery of all types of packages to customers since, currently, there is no explicit contract that guarantees the status of the deliveries of goods and services. Its application would imply an agreement prior to the purchase that will formalize an amount to be paid for correct delivery and another if it is defective, thus benefiting the customer who is formally assured of optimal delivery and the best possible customer experience ”, they pointed out.
Omega CRM commented that companies have recognized the importance of blockchain, and it is so much so, they affirm, that according to a recent study by PwC, 84% of the organizations surveyed had some type of involvement in this technology and although 30% see to China as the country that leads its use, it is already being implemented in Spain. For his part, Josep Sauleda Roig, CIO of Omega CRM, believes that companies are beginning to see the importance of blockchain and “for the future of their business, many of them have already incorporated this technology in their next investment plans. Beyond the inherent benefits of this technology, the challenge for companies is to get the most out of this technology, to improve their customer experience, thus maximizing long-term investment, “he added.
Beneficial for adoption
Finally, it should be added that Spain continues to become a model country and a kind of laboratory in Latin America and Europe for the implementation of Blockchain technology, evidence that is shown in the recent and continuous news about the adoption of the blockchain in different areas and sectors of society such as the armed forces, road organization, laboratory studies, tourism, and universities, government organizations. In this sense, reports such as those of Omega CRM are shown as support and technical support to promote the adoption of this technology, which is also likely that as they continue to generate new forms of adoption and proven foundations, there will be a domino and replica effect. towards the different countries that have a close relationship with the Iberian nation.
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