HubSpot Tackles 'Crisis' of Payments Disconnection in CRM
Customer relationship management platform HubSpot has launched new features and updates designed to deal with what it calls a “crisis of disconnection.”
“Fundamental shifts in buyer behaviors have made it increasingly challenging for organizations to create meaningful connections with their customers,” the Boston-based company said in a news release Wednesday (Sept. 7).
A key driver of that disconnection, the company said, is the proliferation of new software and technology, making it difficult for businesses to connect with their data and systems, as well as with each other. HubSpot’s latest releases are a response to this current crisis of disconnection.
“Businesses are in a crisis of disconnection today,” said Hubspot CEO Yamini Rangan. “Their systems and data are disconnected because of cobbled point solutions. They’re disconnected from their customers, as buyers tune out saturated channels. And, they’re disconnected from their peers in a more hybrid world.”
Rangan argued that the businesses that will “win the future” are those that focus on customer connection over customer management.
Among the features are new payment schedules, which let HubSpot merchants customize their payments through a collection of dates and amounts. Eventually, this feature will let them connect those details with HubSpot payments transactions. HubSpot is also rolling out new data management enhancements to give customers “transparent and timely” data insights through import error handling and enhanced automation.
See also: HubSpot on How Technology Can Help Improve the B2B Payments Experience
“The newest data import experience flags and resolves data errors before they are ever published,” the company said. “Data quality automation recommendations also eliminate the manual burden of fixing data errors.”
PYMNTS spoke earlier this year with Michael Vittum, senior manager and go to market lead for payments and commerce at HubSpot, about the importance of offering a frictionless experience along with customer service to both consumers and B2B partners.
“Buyers of B2B technology expect to have the same quick, seamless experience that matches [business-to-consumer] experiences offered by companies like Amazon or DoorDash,” he said “The pandemic [has] driven this gigantic shift in buyer behavior, and businesses must adapt to that in the post-pandemic world.”
Some businesses have been slow to adapt, he said, adding he sees many merchants using inefficient payment processes that create a number of frictions.