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update CRM Launches COSMIC Social CRM Software

update CRM Inc., a creator of customer relationship management or CRM solutions for life sciences, has announced the launch of COSMIC a new software module that extends the update.seven and update.revolution CRM platforms to the social Web.

COSMIC stands for Comprehensive Observation of Social Media Integrated with CRM and is capable of offering social media, Web monitoring and analytical features using which life sciences companies integrate important data into their CRM process.

“We recognized some time ago that customer relationship management and social media are clearly intersecting, but we have seen that businesses are still having challenges integrating the two and making them work in harmony,” said Ada Vissing, director of innovation, update, in a release.

“COSMIC can help life sciences companies better understand the public conversations about their brand – from doctors to administrators to patients to competitors – while also allowing them to engage and interact when needed, via their standardized CRM protocols,” Vissing added.

According to company sources, this new module is most suitable for companies in the pharmaceutical, medical device, biotech and other life sciences organizations and is available for new and existing update CRM customers.

The solution monitors comments and conversations that are shared online. The gathered information can be about a company, its brand, product or service. This data is analyzed and the insights arrived at can be converted into actionable data and integrated into the existing CRM process, said officials.

COSMIC uses social media communications to collect data which is integrated into the CRM processes. The COSMIC solution operates in three stages. The first is “listen”, where the COSMIC system continuously searches for specific keywords and phrases through various social media channels like Twitter (News - Alert), RSS feeds, blogs and industry-specific social media platforms and stores the results in the database.

“Understand” is the next stage when the collected data is analyzed to find out the activity like how much is being said, who is saying it, how many people are listening, sentiment and trends. The last stage is “engage”, in which items identified as important will start actions in the CRM system according to the application where employed.

Company sources concluded that COSMIC transforms update CRM’s powerful CRM platform into a fully integrated Web 2.0 social CRM package. This assists marketing, sales and service teams to arrive at useful and actionable information from the social media traffic.

In related news, update CRM Inc. added support for the Apple (News - Alert) iPad to update.revolution software-as-a-service (SaaS) solution in July 2010.

Shamila Janakiraman is a contributing editor for TMCnet. To read more of Shamila’s articles, please visit her columnist page.