Latest news with #ClientRelationship
Forbes
2 days ago
- Business
- Forbes
Is Agentic AI The Next Frontier In Relationship Development?
Kirsten Rhodes, Vice Chair, Client Relationship Development Leader, Principal, Deloitte & Touche LLP. Lately, a lot of people in the business world have been talking about the transformative potential of agentic AI. When I think about one of the most human aspects of business—relationships—I see a significant opportunity for this technology to help advance client relationship development strategies. Of course, there should be a balance for maintaining the essential human element. At Deloitte, we recently introduced a real-time, mobile-first client relationship management (CRM) platform powered by agentic AI, designed to deepen our client relationships. While technology is sometimes perceived as distancing the human element, integrating agentic AI within our CRM solution allows us to help enhance—rather than diminish—the personal touch. By intelligently amplifying the personalization and customization of client interactions, our solution helps us foster more meaningful engagements, which are essential for building and strengthening lasting client relationships. Understanding Agentic AI Agentic AI refers to artificial intelligence systems designed to act autonomously, akin to a digital workforce, that can complete complex tasks and meet objectives with minimal human supervision or intervention. Unlike traditional AI, which heavily relies on human input for decision making, agentic AI can independently analyze data, predict outcomes and execute tasks. This capability makes it a powerful tool, so it's important to recognize the potential for bias and implement robust governance around it. Making sure that these systems operate fairly and ethically will be essential in maintaining trust and integrity in client relationships. Personalized Client Interactions By analyzing vast amounts of client data—including past interactions, preferences and behaviors—agentic AI can tailor communications and recommendations to meet individual client needs. This level of personalization can enhance client engagement by delivering the right message at the right time through the client's preferred means of communication. This tailored approach at the individual level can reassure your clients that you understand them and their needs, ultimately strengthening the client-business relationship. Within our organization, we harness the power of agentic AI to analyze a client's engagement history, monitor industry trends and track recent news impacting their organization. For example, if a client announces a major acquisition, our platform can autonomously alert relationship leaders with a tailored message that acknowledges the announcement. Beyond simple recognition, the system can also recommend relevant services or thought leadership from our organization, helping ensure our outreach is both timely and value-driven. This proactive approach helps us deliver highly personalized, strategic support that strengthens our client relationships. You may have personally experienced this before with a streaming service that recommends movies or TV shows tailored to your individual tastes, recent viewing habits and preferences. When we consider this example in a business context, agentic AI's ability to analyze data for specific individual interactions creates opportunities to know your clients on a more personal level and better customize your engagements and experiences around their needs and preferences. Scalability Traditional client relationship management often struggles with scalability, particularly as businesses grow. Agentic AI can help address this challenge by managing an increasing number of clients simultaneously without compromising the quality of interactions. This scalability helps level the playing field, enabling small businesses to expand their client relationship development without the need for a proportional increase in their human workforce. At Deloitte, we aspire to leverage agentic AI to autonomously manage specific aspects of client engagement—from scheduling strategic follow-ups and sending timely reminders for high-impact milestones (such as upcoming conferences, contract renewals or client anniversaries). For example, when a digital sales agent detects an emerging industry trend—such as a new regulatory change impacting multiple clients within a sector—the platform could automatically generate tailored outreach plans for each affected client. This creates an opportunity for relationship leaders to be equipped with timely, relevant talking points and resources, helping enable personalized and proactive engagement at scale. Everyday Agentic AI Examples Many people engage with agentic AI every day, often without even realizing it. Consider digital assistants that seamlessly schedule meetings based on your calendar preferences or e-commerce platforms that not only recommend products tailored to your interests but also manage the entire order fulfillment process. These are just a few examples of agentic AI quietly powering our digital experiences. While traditional chatbots typically rely on rule-based scripts to answer FAQs, today's advanced agentic AI solutions can autonomously resolve complex customer inquiries, escalate issues when necessary and even initiate proactive follow-up actions—all without human intervention. By automating repetitive tasks and delivering actionable insights into customer behavior, agentic AI can empower teams to devote more time to high-value, relationship-building interactions. This strategic reallocation of resources helps enable businesses to scale their operations efficiently, all while maintaining—or even elevating—the quality of their customer relationships. Agentic AI is not just a tool for efficiency, but can be a catalyst for deeper, more meaningful engagement. Proactive Engagement One of the key benefits of agentic AI is its ability to predict client behavior and proactively engage. By analyzing historical data and identifying patterns, agentic AI can anticipate when a client might need assistance or when they are more likely to make a purchase. Additionally, because agentic AI can continuously learn and adapt based on new data and feedback, it can be an effective tool for maintaining relevant and effective client relationship strategies over time. The Next Frontier For Growing Relationships I anticipate that agentic AI will usher in a new frontier in client relationship development, offering opportunities for growth at scale. By automating routine tasks and providing deeper insights into client behavior, businesses can focus on building stronger and deeper human relationships. As more organizations leverage agentic AI, a key to success will likely be the ability to integrate technology seamlessly with human interactions, helping ensure that clients feel valued, understood and supported at every stage of their journey. Forbes Business Development Council is an invitation-only community for sales and biz dev executives. Do I qualify?
Time Business News
29-04-2025
- Business
- Time Business News
Legal Client Relationship Management (CRM) Software: Transforming the Modern Law Practice
The client experience is as critical as legal expertise in an increasingly competitive legal landscape. As firms grow and client expectations rise, the traditional model of relationship management no longer suffices. Enter Legal Client Relationship Management (CRM) software, a specialized solution designed to streamline operations, enhance client engagement, and empower law firms with actionable insights. What is Legal Client Relationship Management (CRM) Software Legal Client Relationship Management (CRM) software is a specialized digital tool designed to help law firms manage and enhance their interactions with clients and prospects. Unlike generic CRM systems, legal CRMs are tailored to the unique needs of legal professionals, combining contact management, case tracking, lead intake, and communication tools in one integrated platform. It enables firms to centralize client data, streamline workflows, automate follow-ups, and track the status of legal matters with precision. Legal CRMs also support compliance with industry regulations by securely storing client communications and documents. By improving organization, increasing efficiency, and fostering more personalized client engagement, legal CRM software plays a crucial role in building stronger client relationships and driving firm growth. From solo practitioners to large law firms, it empowers legal teams to deliver better service, convert leads more effectively, and maintain a competitive edge in a fast-evolving legal market. Contact & Matter Management Effective Contact & Matter Management lies at the heart of any successful legal practice. Legal CRM software centralizes client and case information, ensuring attorneys and staff can access up-to-date details quickly and securely. Every interaction emails, calls, meetings, documents is logged under the client profile, making it easier to track communication history and case progress. This eliminates data silos and miscommunication, providing a single source of truth for all client-related activity. With advanced search functions and filters, users can instantly retrieve information, even across large databases, improving responsiveness and client service. On the matter management side, legal CRMs organize all tasks, deadlines, and case milestones within a unified dashboard. Matters can be categorized by type, priority, stage, or assigned attorney, allowing for efficient delegation and oversight. Notifications and calendar syncs ensure that key court dates, filings, and meetings are never missed. This structured, real-time access to matter data reduces the risk of errors, supports better legal strategy, and enhances collaboration across teams. Whether dealing with high-volume cases or complex litigation, matter management through a legal CRM ensures nothing falls through the cracks allowing lawyers to stay focused on delivering results, not chasing paperwork. Key Growth Drivers Rising Client Expectations: Clients demand faster responses, transparency, and personalized service. Legal CRMs enable firms to meet these expectations by streamlining communication, improving follow-ups, and delivering tailored client experiences. Digital Transformation in Legal Services: As law firms adopt more technology to improve efficiency and competitiveness, CRM software is becoming a critical component of digital transformation strategies. Increasing Competition among Law Firms: With more firms entering the market, effective client relationship management is key to differentiation. CRMs help firms retain clients and build long-term loyalty through consistent and proactive engagement. Growth of Remote and Hybrid Work Models: Cloud-based CRM solutions support remote access, enabling legal teams to collaborate, manage cases, and communicate with clients from anywhere. Emphasis on Data-Driven Decision Making: Advanced analytics in legal CRMs provide insights into client behavior, case progress, and marketing performance, helping firms make informed business decisions. Challenges and Opportunities Many firms face resistance to change, especially from attorneys accustomed to traditional methods. Implementing CRM systems requires time, training, and integration with existing tools, which can be costly and disruptive. Data security and privacy are also major concerns, particularly with sensitive client information being stored digitally. However, the opportunities far outweigh the obstacles. CRM platforms offer the chance to greatly enhance client service, improve operational efficiency, and gain a competitive edge through better lead conversion and client retention. They also open the door to advanced data analytics, helping firms track performance, understand client needs, and make strategic decisions. As legal services continue to digitize, firms that adopt CRM solutions can position themselves as more responsive, tech-savvy, and client-focused ultimately driving growth and delivering a superior legal experience in an increasingly competitive market. Innovation and Expansion CosmoLex Debuts CRM Software for the Legal Industry In October 2022, CosmoLex, a leading practice management software provider for the legal industry, announced its new CosmoLex CRM, legal-specific client relationship management tools built for modern law firms. MyCase Announces New Developments Featuring Dynamic Forms With Conditional Logic In June 2024, MyCase, a leading law practice management software program designed for the contemporary law company, has introduced its latest release of dynamic bureaucracy with conditional logic for lead management and client intake. This new function will remodel a regulation corporation's ability to create a more efficient and customized experience at some point of the customer onboarding process. Dynamic forms change reactively as a person fills them out showing or hiding questions based on previous answers personalizing the experience and improving form completion rates. Forms can be embedded into websites to send leads directly into MyCase's built-in CRM or sent directly to clients for faster and simplified onboarding. Harbor acquires CLIENTSFirst Consulting to scale marketing tech offering Harbor announced it has acquired CLIENTSFirst Consulting, a circa 80-strong client relationship management and data quality management services provider based in the United States. Harbor currently provides assessment, implementation, and management of marketing technology solutions including CRM, experience management, and proposal generation, as well as AI tools. The acquisition of CLIENTSFirst Consulting, which was founded by Chris Fritsch, will enable it to scale its services in those areas. Fritsch joins Harbor as vice president of marketing technologies. About Author: HTF Market Intelligence Consulting is uniquely positioned to empower and inspire with research and consulting services to empower businesses with growth strategies, by offering services with extraordinary depth and breadth of thought leadership, research, tools, events, and experience that assist in decision-making. TIME BUSINESS NEWS
