“Codleo brings together a broad range of services within the areas of Digital Marketing, Marketing automation, and CRM.”- Mr. RS Maan, Managing Director and Global CRO, Codleo
Here’s the interview snippet from the interaction with Mr. RS Maan, Managing Director and Global CRO, Codleo.
Saumya: Please provide us a brief description of your organization, its speciality, and the services you offer?
RS Maan: Codleo is one of the most trusted IT companies in the market. Started with an aim to transform the work process of different business organizations, it has expertise in executing strategic business ideas by using the latest technologies for enhanced customer experience. It is a CMMI 3 level certified company that works at par with global standards. With a culture of addressing business needs and building strong customer relationships, it is serving 140+ clients across different domains including healthcare, education, manufacturing, immigration, and non-profit organizations. It has an in-house team of 80+ young professionals. Codleo brings together a broad range of services within the areas of Digital Marketing, Marketing automation, and CRM. Identifying themselves as digital transformers and solutions providers, they provide additional services of Salesforce Consulting Implementation, Integration, and Support solutions. In its digital marketing wing, they take care of the brand’s online presence along with extending marketing, branding, automating. Launched April 2019, headquarters in Delhi with offices in various cities in India and overseas such as Dubai, Singapore, and Australia.
Saumya: What role does Codleo envision for itself in the CRM evolution in India and how will it add values to the organizations?
RS Maan: The global CRM market was valued at INR 4,291 Bn in 2021. It is expected to reach INR 8,160. Bn by 2027, expanding at a CAGR of 11% during the 2023 – 2027 period. The CRM software market in India is expected to reach INR 144 Bn by 2027, up from INR 53 Bn in 2022, expanding at a CAGR of 17 % during the 2023 – 2027 period.
Codleo is positioning itself to be the first choice of companies (SMEs and enterprise firms) in their quest for digital makeover with a tech stack that includes a CRM tool. The benefits that a CRM brings is now gaining traction even among tier 2 and tier 3 destinations and the demand is on the rise.
Here is how we bring value to organisations with the help of a CRM platform:
- Enable companies to create customer-centric experiences
- A single 360 view of the client for cross-functional insight and reporting.
- Access to range of dashboards that visually showcase data in action.
- Customer-centric automation that leads to productivity & efficiency
- Proactive service by the company that leads to customer delight and converting into unofficial brand ambassadors
- Optimisation of workflows and processes.
- Simplified communication & collaboration internally within the business
Saumya: How has CRM adoption in India changed over the last few years?
RS Maan: Emerging markets like India has seen (especially in the Covid-19 years) the need for a great tech stack that is future-ready so that companies can thrive in this current competitive & uncertain era. An important part of the tech stack is a CRM tool that connects companies to their clients that involves personalized & relevant engagement and connect. Whether it is enterprise scale companies in Mumbai or family run concerns in Indore, CRM is increasingly seen as a must have tool for the value it brings to companies. More companies are now adopting CRM tools in tier 1 and tier 2 destinations, with slow penetration in tier 3 destinations. That’s the next frontier for the CRM industry in India.
Saumya: What are the most significant market challenges you face?
RS Maan: There are many key challenges that we face in the market and they include:
- Intangibility of services as compared to products. With products one can investigate shape, color, features, size, and the quality vis-à-vis services. This poses a challenge to companies like us to convince businesses about our services.
- The cutthroat competition in the market due to a plethora of brands in the same domain. How to get a business to trust us over others?
We overcome challenges with a strategy that includes the following:
- Client testimonials (audio, visual or written) from previous and current clients are a great way to overcome challenges. Client reviews on well-known portals & professional networking medium like LinkedIn.
- Educating the prospects & customer base. The more education & information flow the better will be lead generation. This leads to conversion & sales.
- Motivating the growing team to provide top quality services using best practices. This is achieved by training, motivation, presentations, workshops, and seminars. This constant messaging ensures services that are reliable, and we are most proud of.
- We go the extra mile for our clients. Be it long hours, extra work, or personalized services. We ensure that customer delight is achieved so they are happy and refer us to other businesses looking for services that we provide.
Saumya: What are the current trends in the Industry?
RS Maan: The current trends in the CRM industry in 2023 and beyond are:
- AI will become de facto fare in CRM and a competitive differentiator. The reach and impact of the tool is on the increase.
- The power of predictive analytics will grow. It enables businesses to review client behavior and thereby aid in making insightful decisions about future client behavior and strategy.
- Social CRM is on the upward trajectory.
- Integration with the Internet of Things (IoT). A large % of IoT devices aids in the assimilation with business management software, enabling companies to integrate IoT data along with CRM data. This integration enables improved management of client touchpoints across channels.
- Mobile CRM is becoming increasingly popular. It can be used on various electronic devices of communication. People can work anytime and anywhere.
- ChatGPT& CRM integration are yielding dividends. These include curating personalised email campaigns, create better buyer personas etc. All thanks to ChatGPT.
Saumya: How does Codleo see AI progressing over the next five years?
RS Maan: AI is globally valued at $136 billion with the market reaching $1.9 trillion in next 7 years. During this period, the AI market is predicted to increase by a CAGR of 38%. 8 out 10 companies will invest in AI to give them an edge over rival businesses. AI is poised to be a major disruptor across industries in the next 5 years. Its use becoming widespread and will only increase in the years to come.
Here are some sectors and way it will be omni-present:
- AI & Machine Learning will fuel every industry. AI-fueled voice assistants are already altering the e-commerce domain.
- AI will lead to innovation in healthcare industry with personalised healthcare a reality.
AI will also be valuable in Next gen consumer experiences including metaverse and cryptocurrencies.
Saumya: How do you envision the future of the company and the CRM industry?
RS Maan: The company and the industry have a bright future ahead. As the company completes 4 years of its existence, it is on a consolidation cum growth phase both in terms of staff strength, global footprint, and range of services. Our CSR Wing – Codleo Foundation is on a mission to increase the army of techies who are employable with our free tech courses such as Salesforce Admin and Salesforce Developer.
Similarly, the tech industry in India and the world on the rise with a high demand from all types of businesses, we are positioning ourselves for being at the right place at right time. The value of CRM is on the rise, and it has a golden future because of increasing demand from all quarters of business. In the digital transformation era, every business (small retail store or a Fortune 500 company) needs a digital makeover, hence the future is very bright.