This is the fourth part of the series. We talked to their leaders about their journey from a KPO to a data science and artificial intelligence company. In this article, we look at how eClerx has helped Fortune 500 clients achieve measurable business impact.
Data science and analytic tools have exploded in popularity over the years. 75% of businesses will shift from piloting to operationalising artificial intelligence by the year 2020.
As companies look to gain insights from their data, they are turning to innovative solution providers such as eClerx, a global leader with a presence in 29 countries. The company's solutions have had a huge impact on its clients. Their solutions have generated millions of dollars in top-line impact and helped them to improve their operations.
The main service lines that are priority for everyone in the executive suite are customer relationship management, customer support and operations, business intelligence, merchandising analytics, and marketing and campaign Optimisation.
The first step in a fast-paced business is acquiring customers. We need to foster strong customer relationships across the entire lifecycle after acquisition. This is where advanced data science models are used.
Key questions help align customer behavior with strategy.
Customer lifetime value, per transaction value, and experience metrics are driven by personalisation across these stages. By using advanced data science models like lead scoring, customer profiling, propensity modelling, and next best action and recommender systems, eClerx is able to deliver richer consumer data and insights to it's clients.
The ability to advance customers across lifecycle stages has improved greatly. With data science and artificial intelligence, feedback loops have been shortened.
A leading apparel retailer improved their conversion rate and average order value by 10% thanks to the help of eClerx.
In the B2B space, for a global technology giant, eClerx's solution led to a 20% higher conversion from marketing leads to sales leads, leading to net new revenue increment of 13-15%.
The way in which customer support is provided has evolved over time. Due to the increasing levels of complexity in decoding, the onus is on analytic and artificial intelligence to find inefficiencies in these processes. The balance between cost and satisfaction is maintained with advanced techniques.
The solutions in this space are multifold.
- Voice.AI and Text.AI, which are eClerx proprietary tools that help in monitoring and improving the performance of call centres and support centres
- Guided resolution engines that identify optimal resolution paths
- eServices journey optimisation engines that take the customers on a self-resolution journey
- Virtual agents and chatBots that integrate agent learning and AI-driven mechanisms
For a leading technology and consumer products retailer, their teams improved their multi-channel support capabilities across call centers, e Support websites, and virtual agents. This resulted in cost savings of over $30 million by improving first touch resolution, handling time, and dispatches.
Similar outcomes can be achieved in other niches like inventory management and partner operations.
Business Intelligence teams spend most of their time traversing the cycle from data to insights, instead of considering ready-to-look insights. More mature organizations are now thinking of a self-serve solution that is semi-automated. This is being enabled by the advancement of tools and platforms.
The approach of eClerx is based on laying the groundwork that will lead to high quality data. The creation of strong KPIs and deep-dive metrics is a result of this.
There are some highlights of eClerx's visualization and data story solution.
Next-gen visualizations and storyboards that tell dynamic data stories, dashboard automations and scenario-planners are some of the unique selling proposition of eCle Rx. Teams can plan and avoid surprises with advanced features.
For one of the world's largest retailers, they set up centralised business intelligence suites and command centres that helped business stakeholders make better use of certain areas in day-to-day operations.
Critical merchandising decisions, including what to sell, who to sell to, and how to sell it, are faced daily by industry manufacturers and distributors. In order to make these decisions, they often turn to eClerx, which has an array of solutions to help drive revenue growth.
Data scientists, domain experts, product data management SMEs, rapid experimentation and stakeholder collaboration are some of the teams that make up the ecosystems.
The proprietary tools that act as accelerators are in eClerx'secosystem.
For a large industrial manufacturer and distributor, eClerx developed a customised assortment and product portfolio optimisation engine. The engine recognised over one million opportunities per product category, improved average order value by 2.9% and improved margins by over one million dollars per year.
The use of custom scenario planners was used to achieve this success.
Companies spend a lot of money on marketing in order to get customers. Changing customer engagement patterns have led to the evolution of new forms of marketing. Web-based, social, offline, virtual reality, calls, chats, and third-party marketplace-driven marketing are included. There has been a growth in partner-driven marketing, offline-online integrated marketing, retargeting on external platforms, and so on.
Measuring the impact of campaigns is a big challenge in marketing. The sub-optimal planning of spends for the future is caused by this. The disparate nature of data, complex navigation, evolving and messy tech stacks are some of the reasons for this.
A top-down planning approach and a bottom-up execution approach are two approaches that can be used to bring customer-centeredity to marketing. Proper alignment between strategy and execution is ensured by this approach.
eClerx has a solution for advertising.
There are a number of marquee solutions available. Multi-touch attribution, market mix modelling, marketing spends scenario planners, in-flight optimisation and recommendation engines, robust MarTech setup, and channel targeting recommendation engines are included. Companies can improve the efficiency of their marketing initiatives by using these solutions.
A top-down planning approach and bottom-up execution are required in order to adopt a customer-centered approach to marketing. Companies can ensure accurate measurement and optimization of their marketing initiatives by using marquee solutions. They will be able to reduce costs, improve efficiency and achieve better customer engagement thanks to this.
For a leading global consumer services provider, eClerx developed an end-to-end marketing engine deployed on the cloud to increase RoI from marketing initiatives. It was used by campaign managers, channel marketing managers, and product marketing stakeholders to plan and measure the marketing lifecycle.
It is clear that the future belongs to those organizations that are able to leverage data and emerging technologies to make smarter decisions.
Some of the most exciting areas of innovation in the field of data and analytics will be explored in the next part of the series. Our team of thought leaders will share their insights and perspectives on how these technologies can be harnessed to drive business value. Don't forget to stay tune for more!
