Katerine Kostereva Ukraine

Bootstrapping from Ukraine: bpm’online (Terrasoft) CEO Katherine Kostereva

This is a fascinating story of a Ukrainian entrepreneur bootstrapping her CRM Software company to global scale. We’re thrilled to bring you Katherine Kostereva’s inspiring and super intelligent entrepreneurial journey.

Sramana Mitra: Let’s get going. Where are you from? Where were you born and raised? Let’s go to the very beginning of your personal journey.

Katherine Kostereva: I was born in Ukraine. Since childhood, I’ve been traveling a lot and visited many countries worldwide. I graduated in 1999 with a Bachelors in Computer Science. Shortly after that, I got my MBA. Even from high school, I was obsessed with technology. I was thinking of the ways to transform business through technology. Technology has always attracted me.

Sramana Mitra: Where did you do your Bachelors and MBA

Katherine Kostereva: I did it in international schools that have offices throughout Europe. I got my MBA through the International School of Management located in Kiev.

Sramana Mitra: After you finished your MBA, what was the next thing that you did?

Katherine Kostereva: I spent about two years working for IBM. I was working in Marketing and PR. That was an amazing experience. I traveled all over the world to the different offices of IBM. I started to work right after I graduated from high school. I was doing door-to-door selling of advertising for newspapers.

I did it when I was 16 to 20 years old. I met 10 new people everyday while trying to sell advertising. After I graduated from the university, I got much better experience in IBM. Frankly the first day of my career, I knew that I would go down the entrepreneurial path. That’s what I did in 2003.
Continue reading…

Continue reading

Cloud-Based CRM or In-house?

Ever since cloud-based solutions became a thing, a never-ending discussion started where some people say that on-premise solutions are better and others think that cloud software is the right way to go.

The same thing applies to CRM solutions. This is why we’ve decided to compare cloud-based CRM vs in-house CRM platforms to see what benefits and drawbacks they offer.
Cloud-based CRM

Can be accessed remotely from anywhere, just as long as the user has internet access.
No need to maintain your software, as all of it is done by your provider.
Software updates are free.
Doesn’t require a setup, you only have to pay your subscription and log into your software through a web browser.
Most cloud-based CRM providers give support and take care of your data.
Mobile optimized.


Because all of your data is hosted by your provider, you won’t have complete control and overview of your systems and data.
The system is updated when your provider decides to do it.
You won’t be able to deal with issues independently and you will have to rely on your provider to do it for you.

In-house CRM

They offer more integrations with the other on-site solutions that you use.
Sensitive business data can be secured better and controlled with an in-house solution.
There are no data size limitations and you won’t have to pay for more space.
Complete control and autonomy over your software.


Has maintenance and setup costs.
Updating software takes time and it might cost you as well.
You won’t have the flexibility of access.
Most in-house CRM solutions aren’t mobile-optimized and this requires more investments.

There is no universal answer to which one of these options is better. You need to understand your needs and choose a solution that simply fits in better with your organization.

Continue reading

What Makes BPMS a Necessity in Today’s Business Market

The primary concern of any contemporary business owner, regardless of their industry, is to stay ahead of their competition. Today’s market is overflowing with similar companies that offer practically the same thing, so the main question is how to make your business stand out.

The answer is actually rather simple – you need to turn to technology. To put your business on the map, you need to use cleverly designed pieces of software that will simplify your entire workday. To be precise – you need to rely on business process management software.

Find out why BPMS is a necessity for every aspiring business and see what this piece of software can do for your business.
Activity Optimization
Chances are that your employees are working too much. In modern offices, there’s no particular separation of activities, and especially so when you’re trying to juggle several projects at a time. In order to grow your business, you primarily need to take the load off your employees.

BPMS will enable you to enhance your business model. To start using this platform, you first need to upload each and every activity that occurs in your office. BPMS offers tools for visualization – this software will enable you to clearly see the net of activities that occur in your office on a daily basis.

Thanks to effective BMPS tools, you’ll be able to sort out profitable and constructive activates from pointless processes and thus create a new, upgraded version of your current business model.
Effortless Automation
If you pay close attention to a regular workday, you’ll notice that they are neck-deep in monotonous, redundant, repetitive activities like orders, monitoring, document authorization, etc.

In order to see a positive change in your revenues, it’s mandatory that you relieve your team of these tasks and BMPS can enable you to achieve exactly that.

With this software, you’ll be able to automate activities which are necessary for the functioning of your company but don’t require human attention.
Cost-Effective Technology
This is an investment that keeps paying off. When faced with an excessive workload, most companies decide to hire new employees. The costs necessary for maintaining an employee are extensive and they go beyond their monthly paychecks.

This piece of software can manage a significant number of activities for which you would otherwise need several employees. BPMS is a cost-effective technology that can actually decrease your costs.
Newfound Room for Creativity
As we went through the basic features and tools of BPMS, you can now deduce that this software can unburden your team and take on a list of responsibilities that are keeping your team occupied. However, it is important to carefully choose the right piece of software. The following link will lead you to an exemplary piece of technology designed to maximally increase the effectiveness of your team – bpmonline.com/crm/bpms.

Once you integrate this software to your business model, your employees will have their hands free. The time that they would usually spend on monotonous activities can now be used for creative tasks, new challenges, and professional development that will altogether contribute to the further development of your business.


Because of the reasons listed above, BMPS is indeed a necessity for every aspiring business. With this tool, you’ll be able to relocate your workforce and dedicate it toward realizing your business vision.

Continue reading

How to Choose a Marketing Automation Platform?

You should always choose the right marketing automation platform based on the data. This is why you have to do extensive research before you reach your final decision. Don’t know what to look for? Here is how to choose a marketing automation platform that fits your business needs and objectives.
Make a List of your Business Needs and Objectives
Before you discover what you need in a marketing automation platform, you have to be clear about why you need one. Do you want to track your customers? Maybe you want to manage your leads? Maybe you need both but also want to allow your teams to work on the go?


These are just some of the questions. In any case, after you are finished with the list, print it out and always keep it in front of you.
Go for Scalable and Feature-Rich Option
Your business needs may change over the time. This is why you should always pick a scalable software solution. Look for something that will allow you to get your hands on more features, or get rid of the features you don’t want to use by picking some of the less expensive versions. You can check out one of the best marketing automation platforms on the market that enables the users to do exactly this, by clicking here.
Ease of Use
The right marketing automation platform is the one that is built to make things easier for the users. Make sure to test the platforms via the free trial option to make sure that the user interface is intuitive and the platform is easy to use.


By following these three steps you will significantly narrow down your options and be able to make a smart and data-driven purchasing decision.

Continue reading

CRM Finance Solutions – Why Financial Service Companies Need Them

The financial sector has evolved a lot in the past couple of years and there many reasons for that. It is partly due to the fact that these companies nurture a traditional approach to doing their business and they aren’t too keen on making changes and adapting.

Another reason might be that they are dealing with a new generation of customers who don’t think the same way as their older customers and want to be treated differently.

At the core of these issues and many others is the fact that financial service companies are very static and they haven’t exactly adjusted to the consumer age that we live in.

However, the transition is slowly happening and one of the steps is to adopt new technologies that can help improve your business. Today we will talk about CRM finance solutions and how they can help you give modern customers what they need.
A customer-oriented approach
Financial institutions have always been about numbers, money, bureaucracy, and this has reflected on their approach towards customers, treating them somewhat as numbers.

A customer relationship management solution puts the customers at the center of any organization and helps you take care of their needs, giving them a better experience, and making them more open to interacting with that organization.

A CRM finance solution can help a financial institution better understand their customers, what their needs are and adjust their services, processes, goals, technology, and employees towards them. It helps an organization use the data they have and, through it, make steps towards improving customer relationships.
Improved customer satisfaction
The one-size-fits-all approach is a thing of the past and the financial sector needs to understand this. Modern consumers want to feel special, like they matter the most.

This kind of approach goes a long way in improving customer retention and satisfaction. In the financial sector, it is essential to gain the trust of your clients and retain them for a long time if you want to grow. This is how you increase your ROI and a CRM solution allows you to do this.

No matter how many customers you have, you can always gather information about them and approach them with customized services and on a personal level. Satisfied customers will promote your business and help you grow your customer base.
If you have a lot of customers, and their number continues to grow, it could become difficult to manage their relationships properly and re-engage them at the right time. Most financial institutions do this in bulk and approach all of their customers with new promotions or service upgrades on a somewhat cold and calculated basis.

But there is no personalization here or data-driven actions. With CRM finance software, you can automate tasks which include going through relevant customer data and recognizing when a certain action needs to be made.

Instead of having employees check this vast amount of data, the system can do it for them and send them notifications when the conditions have been met for them to make a certain step towards customers.

A simple example is when a customer has been inactive for a while and you need to re-engage him or her and offer them new promotions that could get them to sign up for your services in the future.
Increased productivity
A CRM solution allows an organization to empower its employees. With proper training that can teach employees how to use a CRM to its fullest potential, you can drastically increase their productivity. The first important benefit a CRM provides to employees is that they will always have quick access to a centralized base of information about customers.

They will be able to see valuable data that can help them understand customers and approach them better. At the same time, they will have features and tools that can help them analyze this data and draw valuable conclusions.

Furthermore, based on the information displayed in front of them, they will always know what they need to do and never miss anything important. With proper automation, a CRM solution can reduce the number of small nuisance tasks that employees need to take care off, allowing them to focus on more the essential part of their work. This will make them more productive overall.


The time has come for the financial industry to give up their old methods and make adequate changes that will help them grow in the future. One of the ways to start doing this is by adopting the right tech solutions.


Continue reading

Why Should a Small Business Implement an Online CRM solution?

When you take everything about your small business into account, in the end, it all comes down to customers. No matter what kind of services or products you offer or how much your brand is unique, your business needs to have the power to acquire new customers.

Once you’ve done that, you need to have the power to retain them or you will never be able to grow. You need to make an investment in managing customers and an online CRM solution can give your business everything it needs in that domain while being very cheap.
A greater power of conversion
Getting fresh leads is not so difficult. The hard part comes when you try to convert those leads into customers. Many small organizations have troubles with conversions and an online CRM can help you with this issue. It allows you to capture all valuable lead information and deliver it to the right salespeople.
Manage customer relationships
Businesses which are able to keep their customers for a long time are the ones that are able to grow. This requires a consistent customer service as well as quality relationship management. This where a CRM excels. It allows you to communicate efficiently and meaningfully with customers. You can also gather customer data and set notifications that will remind you when you need to reach out to customers in the future.
Empower your whole organization with valuable information
All of your marketing, sales, and customer support personnel need to be on the same page to work efficiently. An online CRM can allow employees to gather all valuable information and store it in a single place. All employees can share this data and view it to help them collaborate in a better way and communicate more effectively towards improved productivity.

An online CRM is an awesome solution and an inexpensive investment for small organizations that can bring great results.

Continue reading

Benefits of Implementing a BPM Platform

Businesses have to take on a lot of new challenges each year. This is because of the fierce competition. Today, when basically anyone can start their own business with a very small budget, there is simply more fish in the pond and the fish are becoming very innovative. Everybody is looking to come up with something new to create a better organization.

One of the areas in which businesses are competing the most is technology implementation. Since tech solutions are advancing faster than ever and are available to everyone, companies are always on the lookout for something new that might improve their productivity.

And there’s no better way for both large companies and small startups to do this than using BPM platforms.

This tool does exactly what its name suggests, it helps companies organize their processes more efficiently and helps them increase their output. But this is a general explanation, so let’s dig a little deeper and see what all the benefits of using a BPM platform are.
Increased cost-effectiveness
Companies have been forced to cut down their budgets in the past couple of years due to the global economic situation that has shaken all industries. Today companies simply don’t have anywhere left to cut their expenses, but they still need to be cost-efficient if they are going to increase their profits.

BPM solutions have been instrumental in increasing cost efficiency, as they allow companies to streamline all of their operations, improve collaboration within their organization, as well as with their stakeholders, automate technical tasks, cut down on risks, and increase product quality.

The following site offers a BPM platform which gives businesses the option to combine workflow management together with process management. With various analysis and reporting features, it helps different teams collaborate better, leading to a significant cost reduction.
Improved customer service
By setting up a centralized platform and plugging in all processes, employees will be able to see the valuable information they need and collaborate better. More importantly, they will develop processes which will be consistent and always perform similar actions by relying on insightful data. This means that the service they provide will also become more consistent.

When all employees know how issues and inquiries are handled and they constantly find ways to improve them, they will all be on the same page and work similarly. Customers love a consistent service and will appreciate it when every employee provides them with the same service that they are used to.

On top of that, a BMP platform is also used for storing customer information. This means that customer support employees will be able to see previous interactions with customers, their history, past purchases, and valuable demographics that will allow them to help the customers more effectively.
Greater productivity
With a BPM platform at their fingertips, employees will always know what they need to do, in what way, how their work affects the wider picture, and what they are doing wrong. This improves the way projects and tasks are carried out and creates a smoother workflow. At the same time, all of the mistakes and problems that occur can be recognized instantly and therefore help avoid large-scale issues.

At the same time, employees can see how well they are performing compared to their peers and try to improve if they are ambitious and serious about working for you. If not, managers will have all the information they need about their slacking off and work on motivating them to improve their work or, if it comes to that, fire them.
Employee satisfaction
If employees are not motivated to work hard, you can have all the strategies you want in place but your business will not have a great output. When organizations streamline, document, and develop business processes which are transparent, employees can get the motivation boost they need, as they will always be able to see what their work has led to.

Given the fact that BPM solutions give full visibility to employees, they will always be able to organize themselves and get everything they need to get their jobs done. At the same time, they can see how much they’ve contributed to projects once they are finished while managers can praise them for their work.


These are just some of the most common and most noticeable benefits of BPM platforms and there is much more to learn about them. If you think that your business could improve in these areas, then getting BPM software is a must.

Continue reading
Online Contact Management Software

What’s the Difference Between CRM and Online Contact Management Software?

Successful businesses use a lot of different software solutions in order to streamline their daily operations and improve efficiency and productivity. One of the most important tools that almost every business needs is CRM (Customer Relationship Management) software, as it comes with a set of very useful features for building strong customer relationships and capturing more leads.


However, many business owners think that CRM software and online contact management software are actually one and the same, which is why they sometimes end up deploying a solution that is not exactly the right fit for their organization.


If you need a cutting-edge online contact management software, you can find it here, but first, take a look at what makes this type of solution different from a CRM system.


The Main Features of Online Contact Management Software

Just as its name suggests, this type of software is aimed at managing your contacts. The system stores all your contacts, including their phone numbers, addresses, and emails, in one centralized location in the cloud. That way, you and your team members can access all the necessary information for reaching the contacts 24/7, anywhere you are and regardless of the device you’re using.


The software also stores the communication history with your customers and prospects so, together with all their contact information, it gives you a complete view of your customers.


The typical features of an online contact management system include:


360° customer view
Collaboration tools (emails, calendars, notifications, notes, file-sharing)
Social media integration
Performance tracking.


As you can see, this type of software doesn’t go beyond tracking customer data. Cloud CRM software is important for business success but, if you run a small business and find that a full-fledged CRM solution is too expensive to implement just yet, then online contact management software is the right choice for you.


It can help you easily track your contacts and your communications with them, set up reminders and automate notifications for follow-ups, add notes and share files to keep everyone on the same page and essentially make it extremely easy for your team to keep track of all the leads and increase efficiency and productivity.


CRM software comes with plenty more capabilities and, besides storing customer data, it turns that data into actionable insight and aligns your marketing, sales and service activities, helping you deliver better customer experiences and grow your business.

Continue reading
Web Based Contact Management Software

5 Top Benefits of Web Based Contact Management Software

Every business owner is aware of the fact that customers are the most valuable asset a company can have, so it is of an essential importance to do everything that is in your power to meet their requirements and make them feel respected.

There are so many technological solutions available nowadays which are designed to help you put more focus on your customers and increase your productivity. One of such solutions is a web based contact management software solution, and in this post, you will find out how your business can benefit from this powerful technology.

For more insightful info, be sure to visit .
24/7 access
The number one reason why the majority of business owners opt for web-based contact management software is that it can be accessed by all members of your company no matter where they are provided that they have an internet connection. For instance, if your employee meets a new lead, they don’t need to wait to get back to the office to enter their contact information to the system.
Not only that this great tool provides you with an all-time access, but it is now available for mobile devices as well! Your employees will have an ability to make important phone calls directly from the system itself, which will contribute to the improvements and automation of your entire sales system.
Many business owners are concerned with data breaches. Luckily, with web based contact management software, this is no longer an issue, as everything is stored on the cloud with great security standards, rather than on your employees’ computers.

Integration with other software systems

All of your already existing systems can easily be integrated with this tool, which saves a lot of valuable time on manual data entries and allows your workers to pay more attention to your customers instead of wasting time on tedious tasks.

Integration with social media platforms

Being present on social media nowadays is crucial to any business’s success. This software system allows you to integrate your social media presence and monitoring directly into it, in order to easily find your leads’ profiles and enter valuable information into the system.

If you think that your business needs more automation, if you are really dedicated to your clients, and you don’t want to spend a fortune on new technological solutions – web based contact management software is the answer!

Continue reading
Sales Management Challenges

Sales Management Challenges a Proper Software Can Solve

Sales management is the department of your company which is responsible for direct interactions with leads, planning your sales process, forecasting sales results, designing sales strategy, and analyzing your sales efforts. With so many responsibilities, it is inevitable for challenges to arise occasionally.

However, these challenges don’t need to turn into a disaster if you have a proper way of dealing with them. Using a sales management software system has become the best solution for any potential problem sales managers may face. So, in this article, we will explain just how it can help you overcome your obstacles. For more information about sales management software, be sure to visit .

Continue reading