Archive for the ‘smarter commerce’ Category
We’re finally getting some rain in central Texas. We’ll see how long it lasts!
And on the topic of rainmaking, this just in from our friends at Nucleus Research.
Nucleus conducted an analysis of 21 of IBM Smarter Commerce case studies and their ROI, and discovered that for every dollar spent, companies realized an average of U.S. $12.05 in returns.
According to the research, this payback occurred in an average of 9 months (with a high of 23 months, and a low of two).
The cases Nucleus analyzed included U.S. and European companies and government agencies which had deployed IBM Smarter Commerce technologies.
All the case studies were developed independently by Nucleus, following their standard ROI methodology, and IBM was privy to the results only after the research was completed.
In their analysis, Nucleus also observed some summary conclusions, finding that Smarter Commerce projects delivered both top-line and bottom-line benefits, with roughly 60 percent of returns coming from indirect benefits such as productivity, and the rest from direct savings such as reduced operational costs or hires avoided.
Specific key benefits included the following:
- Increased productivity. In many cases companies were able to accomplish more work with fewer staff or avoid additional hires as they grew by automating previously manual processes and increasing employee productivity.
- Reduced costs. Smarter Commerce customers experienced cost reductions in areas such as customer call handling costs, technology costs, and other costs associated with supply chain transactions.
- Improved inventory management. Greater visibility into customer demand and inventory levels enabled Smarter Commerce customers to gain better control over their inventory, reducing inventory carrying costs and increasing inventory turns.
- Improved decision making. Greater agility and rapid insight into data for decision making enabled companies using Smarter Commerce to more quickly make decisions and act on them with confidence.
- Reduced customer churn and increased customer satisfaction. Companies using IBM Business Analytics were able to more rapidly understand customer satisfaction and retain more profitable customers by proactively addressing customers’ propensity to churn. For example, one telecommunications customer was able to reduce customer churn by 8 percent in the first year and 18 percent in the second year by further refining its churn analysis.
Customers Leverage Prepackaged Functionality
Nucleus indicated that the $12.05 average return from Smarter Commerce was at the high end of the range of returns Nucleus had seen from other assessments of deployments such as analytics and CRM, and many IBM Smarter Commerce clients indicated they had achieved high returns by taking advantage of the investments IBM has made in providing integrated solutions, more intuitive user interfaces, and prepackaged industry functionality.
By way of example:
- Integrated solutions and prepackaged industry functionality accelerate time to deployment and time to value while reducing overall project risk.
- Usability improvements drive more rapid adoption and make it easier for companies to drive adoption of technologies such as business analytics to casual and business users beyond the data expert specialists that have historically been the primary users of analytics.
Industry-specific functionality and expertise were particularly important in the success of customers adopting Smarter Commerce technologies in the government sector, such as social services agencies and police departments, where IT often has limited resources.
You can go here to download the full report.
IBM is making a fast start with its new “Mobile First” initiative, which is intended to help companies around the world bring all their resources together to strengthen customer engagement, whenever and wherever the customer wants, and on the customer’s favorite device, which is increasingly a mobile one.
IBM client ING DIRECT Canada is applying a “smarter commerce” approach to consumer banking with IBM’s help in meeting the growing expectations of its 1.8 million customers.
IBM announced today that it is working with the online bank to deliver innovative financial services that improve ING DIRECT’s customer experience including simplified account access across mobile devices and social media channels, voice recognition, and advanced security.
ING DIRECT Canada’s mobile application, developed with IBM, delivers customers with a dashboard view based on their most frequent banking activities.
Based on IBM software and services, these innovations support ING DIRECT’s Orange Snapshot initiative, designed to provide its clients greater control to manage their accounts within their increasingly mobile and social lifestyle.
Orange Snapshot gives mobile consumers a complete and simplified view of all their accounts, as well as bill payment and email money transfers, in two easy clicks.
This allows consumers to sign on once from their mobile device, saving time and aggravation from multiple log-ins.
Working with IBM, the bank’s latest mobile innovation allows clients to easily and securely access their ING DIRECT account information from within Facebook’s social networking site.
Clients who opt-in to this app are able to view their account balances, history and pending transactions as well as receive account notifications — real time messages automatically pushed to them within Facebook.
With security and privacy always top of mind, ING DIRECT plans to expand this application further to include transactions such as transfers, bill payments and email money transfers.
Furthermore, ING DIRECT allows clients to share their experiences through Facebook and Twitter to make saving money more intriguing.
In a recent survey, ING DIRECT learned that 52 percent of consumers were able to forego non-essential purchases when they could better visualize the impact of their spending habits.
IBM’s Smarter Commerce initiative is designed to help businesses better connect with the rising tide of digital consumers who prefer to buy through online, mobile and social channels.
It is estimated that there are more smartphones on the planet than humans. According to IDC, by 2016, more than 10 billion smartphones will be in use around the globe. In Canada, more than half of smartphone users bank from their devices — and that number grows higher when looking at users between the ages 18-34.
ING DIRECT continues to work with IBM in seeking new ways to connect to mobile applications in order to advance sales, manage secure transactions, and provide new insights about clients.
The bank has begun experimenting with new voice recognition capabilities on their mobile apps that will allow clients to conduct simple banking transactions by speaking rather than typing or the application can read account information to the customer.
ING DIRECT is also exploring the use of biometrics within their mobile apps for purposes such as client login to improve the client experience while maintaining the highest standards of security. Internal pilots are already yielding positive outcomes.
Recently, Forrester Research, Inc. recognized IBM as a leader in enterprise mobility services, according to the February 2013 report The Forrester Wave TM: Enterprise Mobility Services, Q1 2013.
Based on an analysis of 13 global leaders’ enterprise mobility capabilities and how they stack up, the report indicates that IBM “brings clients a world-class design agency combined with breadth and depth of enterprise mobility consulting both in terms of technology capabilities and global presence.”
You can go here to learn more about IBM’s “Mobile First” initiative.
ON the topic of Smarter Commerce, I’ve seen two stories today….count ‘em, TWO…about the intent for numerous retailers promising to match online retail prices at brick-n-mortar stores during the coming holiday season.
Found that Tickle Me Elmo for ten whole cents cheaper at Amazon???…just step right on up the Target cash register, because the Price is Right!
One of the stories was in The Wall Street Journal, and claimed that over the past few days, Best Buy and Target both had said they would match the prices offered by the online sites of some rivals, including Wal-Mart and Amazon.
This in an effort to combat “showrooming” (bet you didn’t even know there was such a word!), whereby shoppers checking products in stores then buy them on competitor’s websites, presumably for lower prices.
But, as the story goes on to observe, there soon could be trouble at the register, as these new policies require shoppers to both ask for and PROVE the existence of lowered prices.
“Mommy, Mommy, I just found the latest Furby on Amazon.com for a whole fifty cents less!”
Now, excuse Mommy while she fumbles around in her purse for her smartphone! Oh, never mind that line of people waiting around the store to pay full price for their Furbys!
You get the picture.
According to the Journal story, Best Buy’s going to go them one better, and provide their sales reps some discretion — if the SKU’s price is too low, you don’t get to go!…out the store with your Furby, that is.
All the more reason, I say, to stay in this holiday season, tablet or laptop in hand, with a nice warm cup of Egg Nog, and do ALL your holiday shopping from the comfort of your own home!