How to Have Enduring Effect On Customer Relations: A Guide by Top 10 Customer Experience Management Companies

In order to deliver the finest service performance in real-time, numerous businesses and brands are adopting customer experience strategies due to the growing importance of knowing consumer behavior and preferences. Customer experience management (CEM) is the continuous transformation of firms' internal processes to meet and exceed customer expectations. Business companies have realized the value of CEM because it helps them build their brand recognition, increase consumer loyalty, decrease consumer churn, and boost income. Startek and Genesys joined forces in June 2022 to enhance the delivery of omnichannel solutions. It will internationally combine human-centered AI and agents with Genesis technology to let companies plan scalable and adaptable consumer experiences.

Powered by these factors, the market for customer experience management is likely to experience a rapid boost over the next several years. Fortune Business Insights™ predicts that this market’s valuation could reach USD 32.53 billion by 2029 with a CAGR of 16.2% during the forecast period. The market stood at USD 10.11 billion in 2021 and USD 11.34 billion in 2022.  

Fortune Business Insights^TM Highlights the Top 10 Customer Experience Management Companies

1. Zendesk Inc.

A global leader in the market for customer experience management Zendesk Inc. provides several products related to customer support, sales, and other customer communications. The company offers consumer service expertise and deep product knowledge to deliver a differentiated customer experience.

September 2022: Zendesk Inc. launched new client sentiment and intent functionality powered by machine learning. The addition of AI and machine learning creates more modified and informed interactions to serve customers better.

2. SAP SE

Enterprise application software and services connected to software are provided by SAP SE. A giant player in the customer experience management industry. Customer data solutions are provided by SAP SE, such as SAP Customer Identity, SAP Customer Identity and Access Management for B2B, and SAP Customer Data Platform Access Management for B2C. 

May 2022: Qualtrics announced an integration with Qualtrics XM Discovers AI and Machine Learning capabilities into SAP Service Cloud to help consumer service teams resolve higher resolution rates, customer issues, and improve customer satisfaction.

3. Oracle Corporation

Oracle Customer Experience Cloud is a set of cloud-based tools for CRM, sales, marketing, e-commerce, customer service, and other areas, including configure, price, and quote (CPQ). Oracle Cloud offers tools for business users to manage the Unity Customer Data Platform (CDP), which creates a single, dynamic view of each account and delivers real-time intelligence. Organizations can use this data to enhance their customer experience activities.

 June 2022: Oracle announced Oracle Cloud CX Utilities solutions that benefit agents by resolving problems earlier and providing better customer support. The new service combines new AI-powered tools that help agents resolve customer issues faster, which is a huge advantage in the customer experience management industry.

4. Adobe Inc.

Adobe Inc. enables customer experience management by mastering two fundamental pillars: data and content. Adobe Inc. offers personalized customer experiences across all digital channels and solid customer experience management across different industries.

 March 2022: Adobe Inc. announced the Adobe Experience Cloud for Healthcare solution that allows healthcare organizations to securely deliver consumer-grade engagements and enable customers to actively participate in their healthcare.

5. Medallia Inc.

Medallia Inc. is a software firm that improves customer experience, contact center experience, digital experience, and employee experience. Medallia Inc. provides a wide range of products, such as Omni-channel data capture engagement, customer lifecycle insights, Medallia Athena for CX, real-time reporting and analytics, and action and case management.

July 2022: Medallia Inc. announced that DFS Furniture had designated Medallia for customer experience. The platform helps enterprises capture key signals throughout the consumer journey and deliver meaningful business results.

6. OpenText Corporation

OpenText Corporation's CEM platforms offer solutions to create and deliver omnichannel experiences and track customer interactions throughout the journey. OpenText Corporation, a Customer Experience Platform, allows marketing and line-of-business teams to augment the current system records, such as CRM, MRM, and ERP capabilities, to create individual experiences for data-driven omnichannel experiences.

August 2022: OpenText Corporation announced the addition of three solutions to the Salesforce App Exchange. Adding three solutions offers consumers access to one of the most complete ranges of content management solutions.

7. Microsoft Corporation

Microsoft Corporation introduced the Microsoft Customer Experience Platform, a client management solution that gives control of client data to provide connected experiences. The Microsoft Customer Experience Platform helps predict accelerated market time, improve consumer content, and deliver the right content on the right channel at the right moment. Additionally, an AI-orchestrated journey engages customers in powerful new ways by providing connected experiences across every customer touchpoint.

September 2022: Microsoft Corporation released new research and technology to bridge the disconnect between leaders and employees. The customer experience platform empowers and energizes employees during economic uncertainty.

8. Salesforce.com, Inc.

Salesforce.com, Inc. provides a range of solutions to help merchants build the unified, personalized customer journeys that their customers want. Modern CRM solutions, like Salesforce Customer 360, give businesses access to capabilities that streamline teams and procedures and improve customer service.

September 2022: Salesforce.com, Inc. introduced new Customer360 innovations that provide businesses with powerful intelligence technologies and automation to drive efficient growth and deliver personalized customer experiences.

9. Genesys

Genesys offers a pure cloud platform, an all-in-one customer engagement software solution that is quick to deploy, easy to use, and built for rapid innovation in the customer experience management industry. This platform offers fast internal adoption for small-to-midsize organizations and a rising list of large customers.

September 2022: Genesys launched the Cloud AI experience, an innovative solution designed to help organizations optimize client journeys through accelerated experience innovation driven by more innovative automation, personalization, and prediction.

10. Freshworks Inc.

A key global player in the market for customer experience management Freshworks Inc. offers omnichannel solutions such as chats, phone, email, and social media to engage and support customers.

November 2022: Freshworks Inc., a software firm, integrated conversational AI into CRM and CX solutions. During the upcoming Fall 22 launch, it will introduce a new product innovation to assist businesses in automating the entire customer lifecycle.

How to Change Customer Engagement and Response Through Technological Innovations?

Technological development is changing how a customer engages with and responds to brands through numerous channels. Consumers today utilize a variety of gadgets to comprehend, assess, and choose products. Due to the disruption of digital technology, consumers now expect seamless interaction with businesses across a variety of touchpoints or channels. Organizations are increasingly involved in restructuring their CEM strategies due to the evolution of customer expectations in order to successfully position and reposition their brands and products in this industry while keeping customers as their strategic focus.