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December 29, 2002 at 07:00 PM
Watch For 2003s Blockbuster Hit: Attack Of The Killer Acronyms
Technology Enabled by Ara Trembly
In the 1978 blockbuster (and I use that word only in the video store sense) hit, Attack of the Killer Tomatoes, the countryside is ravaged by hordes of rogue, man-eating tomatoes who have escaped from the ubiquitous “secret government program.”
I vividly recall one horrifying scene in which someone is standing at the sink washing dishes when one of these bodacious berries (yes, they are actually berries) issues forth and consumes said dishwasher. I have since thought it wise to avoid washing dishes–paper and plastic really arent that expensive, and my water bill has dropped by pennies.
But back to the movie: The giant fruit seem to be winning out against their human foes until the films hero figures out how to shrink them. He does this by playing an insipid teenage ballad called “Puberty Love” (so many jokes suggest themselves here, none of them, alas, in good taste).
In any case, the ploy works, the tomatoes shrivel and are subsequently pureed by triumphant humans. The world is safe once again.
But who or what will save us from a more insidious attack on our sanity and our very businesses that has its roots in the technology sector? Im talking about the Attack of the Killer Acronyms!
Irvine, Calif.-based IOGEAR, a maker of technology accessories, conducted a telephone poll of 500 California consumers on this very subject in August. The survey found that 76% of these consumers “are fed up with IT acronyms that they dont understand.” According to IOGEAR, such terminology has prevented 54% of those surveyed from purchasing products.
Of course, as a tech guru, I cant completely condemn the use of acronyms. They do make communication simpler, at least as long as everyone understands them. But there lies the problem–not everyone comprehends the true meanings of important acronyms.
Lets take a look at some of the technology acronyms our industry needs to be concerned with for 2003 and talk about what they really mean.
CRM. Long-time insurance technology observers know this refers to customer relationship management, but a lookup on the very useful Acronym Finder Web site (www.acronymfinder.com) yields a total of 47 possible definitions. Some of the alternatives include: clinical risk management, client relationship management, chief radio man, certified risk manager, and cause related marketing. Obviously, this combination of letters is way overused, which is not a good thing for effective communication.
Ideally, CRM involves the use of technology to gather information on customer wants and needs; that information is then used to tailor products for groups or even individuals. Its a great idea made possible by powerful technologies, but in the insurance industry it has been a colossal flop. According to industry analysts, two-thirds or more of CRM projects fail.
The primary reason for this failure is best summed up in the real definition of CRM: “Cant Read the Manual.” The sad fact is that many of the companies that purchase CRM software never go to the trouble to find out how to use it. Instead, they dump it into the laps of their IT people, who do what they can to make it available to the company at large. Unfortunately, without buy-in from the top and fundamental changes in the way the organization does business, CRM software is about as useful as a fire extinguisher in hell–results will be minimal, to say the least.
CRM is still being sold into our industry, but the ones who are really making big bucks are the systems doctors who come in to fix the damage caused by failed implementations.
Advice for 2003: If youre even thinking about CRM, read the instructions and make sure your organization is committed to the sweeping changes necessary to make it work.
ROI. With the failures of big-ticket items like CRM and the languishing economy, “return on investment” became the mantra for most technology product buyers in 2002, and who can blame them?
Some companies, in fact, are requiring ROI within one year for any technology product or they wont buy it. This is unfortunate and shortsighted, especially in companies where fundamental technology infrastructure changes are needed.
