IBM has announced new software, as well as new consulting services dedicated to the emerging category of "Smarter Commerce," which is focused on helping companies adapt to rising customer demands in today's digitally transformed marketplace.
The Smarter Commerce initiative allows clients to respond to market changes in real-time, and automate marketing, selling and fulfillment via digital channels such as YouTube, Facebook and Twitter.
IBM estimates the Smarter Commerce market opportunity at $70 billion, driven by demand from clients to bring new levels of automation to marketing, customer engagement and sales.
"If they are going to engage with customers that are more connected -- but not necessarily more connected to the people making and selling products and services -- businesses require a new set of capabilities that start with the ability to hear the global conversations taking place about their products and brands," said Paul Papas, global Smarter Commerce practice leader in IBM Global Business Services. "This new level of insight has to be followed by an entirely different kind of engagement with these customers, including a tighter and highly responsive network of suppliers and partners."
The new software and Smarter Commerce initiative will include:
• A new global business services consulting practice offering insights into Smarter Commerce.
• New cloud analytics software that enables companies to monitor their brands presence in real-time through social media channels to assess the effectiveness of new services and product offerings, fine tune marketing campaigns and create sales initiatives in real-time.
• Software that automates a company's ability to design and deliver a personalized shopping experience, campaigns and promotions on new services and products online, or through mobile devices.
• An "IBM University" will provide educational resources for sellers and partners to build the job skills required for the Smarter Commerce marketplace.
"It's a buyer's world now," said Craig Hayman, general manager of IBM Industry Solutions. "Businesses require a tighter and highly responsive network of suppliers and partners to ensure they deliver the right product or service at the right price, time and place. The key to business success in this unfolding environment is predicting trends and automating market responses in advance to eliminate the gaps between buy and sell, supply and demand."
