Wisdom Capital acquires ImagineSales, launches Wisdom CRM

CRM is a massive industry and is likely to grow at double digit growth rates in the coming decade; however, it is very sporadically distributed in India.

"The idea is to provide CRM software, cloud telephony, Artificial Intelligence (AI) enabled chatbots with voice command functionality, encrypted data transfer, Whatsapp messaging services, bulk emailing, social media embedded tools, and helpdesk services under one roof. It will be similar to an all-encompassing modern departmental store", said Founder and Group CEO, Deb Mukherjee.

Wisdom Group was already in the process of developing CRM software under the flagship of its group IT company, Wisdom Tree Ventures with a brand name of 'Wisdom CRM'.

Apart from the tangible assets, both sides have brought their intellectual worth on the table and hope to create value in the long run with the launch of the new product. Wisdom CRM was being developed with the eventual intention of penetrating and servicing the Small and Medium Enterprise (SME) sector when an opportunity presented itself after the Covid-19 era.

"The new indigenously developed product will align with the Make in India ideology of the Government of India. Our hope is to provide stiff competition to the foreign players in this industry", added Deb Mukherjee.

With this takeover, the newly formed entity is now a registered company by the name of Wisdom CRM Pvt. Ltd. The acquisition places Wisdom Group firmly in the CRM space. Among other sectors, Wisdom Group is primarily focused on presence in financial markets (Wisdom Capital), IT (Wisdom Tree Ventures), insurance (Wisdom Policy), and online gaming sectors (Wishgames11) with business interest in upcoming sectors as well.

Wisdom Group has taken this step in order to grab its share of the CRM market and plans to compete with the likes of Salesforce, FreshSales, and other foreign competitors in the industry. The Group followed an inorganic route as it believes that the technical knowhow of ImagineSales will complement its business operations and market reach. ImagineSales has been operative in this field for the last few years and, seeking growth, saw this as a win-win strategy for both the companies.

Existing clientele, technology, and call center operations are few of the attributes that ImagineSales brings on the table. The existing technology will be upgraded to the latest state of the art technological levels and will be ready for B2B clients in the near future.

'Wisdom CRM', a proprietary client relationship management system with embedded cloud telephony system will have an edge over other similar systems available in the market on account of specific state of the art technological features: telephony embedded CRM, visual journey builder, free trial capability, and competitive pricing. Also, for the first time in India, the newly launched Wisdom CRM will be AI powered.

'Yeti', the AI enabled assistant with voice command functionality, will be operative at all levels of the customer relationship funnel and will add value in tracking sales engagements, improving conversation rates, analyzing customer profiles, and ensuring seamless management of customer follow ups that will eventually help in yielding maximum profit.

This will keep the team motivated by reminding the team to follow up dead or untapped leads. AI will also be helpful in data analysis, pattern recognition, and corrective measures required to streamline the processes.

"Yeti has been designed to constantly remind the users about monthly sales targets, improve sales pitch, manage troubleshooting, and train in house users by analyzing call recordings and improve lead conversion rates", said Sudip Samaddar, CEO Wisdom CRM.

Integration is another feature that will distinguish Wisdom CRM. Wisdom CRM can easily be integrated with several platforms and, as a result, will be able to simplify and fine tune the processes on a single platform.

"We saw the opportunity to revolutionize the CRM market and grabbed it right on the spot. We believe that we are at the inflexion point in this industry which is showing signs of consolidation in the new few years, and we want to be part of that consolidation," said Bharat Bansal, Director, Wisdom CRM.

"In India, the telecom rules are different from those in the US. India doesn't allow voice over IP. There is no telephony embedded CRM in India. All the major CRM companies in India provide telephony integrated CRM but not telephony embedded CRM. We fill that gap in India," said Manish Kumar, CTO, at Wisdom CRM. Wisdom CRM seems fairly poised to achieve a homerun in the CRM space as well.

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