E-commerce and online retail

E-commerce and online retail

What is happening in e-Commerce today?

E-commerce is the most evolving industry today. From product personalization to drilled-down analytics, augmented reality and social shopping to drone delivery, e-commerce industry keeps of experimenting and implementing the most innovative growth ideas through proper technologies. The truth is, every e-commerce site has at least some unique set of features and technology implementations that makes it stand out differently.

Recent innovations in E-commerce

Augmented Reality

More immersive shopping experience; Tailored shopping through the use of product recommendation systems.

Intent data

Figure out what a new customer buying intentions; personalized product presentation based on the customer’s browsing habits

Smart SCM

Improved supply chain management using drones; networked warehouse management system for quicker delivery.

Social shopping

Use social media to promote products; make a customer buy while engaging in social media platforms

Predictive analysis

Projection of future shopping trends; plan for the right category of products that customers most likely to buy.

Device transition

Take the customer from the web to mobile and vice-versa with ease; give personalized experience on mobile

Technology-driven processes

Social Shopping: A relatively new dimension has been added to e-commerce and retail, with many product sellers hiring social media influencers to market and sell their products via social media. Influencers usually have a large and loyal fan base that is more likely to purchase products on their influencer’s consent.

Recommendation Systems: A product recommendation system has become a standard requirement for every e-commerce website. They help tailor the e-commerce experience by displaying to shoppers products that they are likely to purchase based on historical data. Recommender systems are powered by AI algorithms and have given a huge sale-boost since its inception.

Customer Service: Influence of technology is most prevalent in e-commerce and retail. The use of chatbots in customer service has gone a long way in saving time and human resources in offering customer support. Coupled with chatbots, smart ticketing systems have immensely improved the overall experience of customers.

Customer Relationship Management: CRMs, are common in most enterprises and have become the default means through which customer data is managed. In e-commerce and retail, CRMs help to manage everything from customer’s initial requests to sell-closure. CRMs help in managing feedback on purchases, following up customers who did not complete the purchase and build a customer-base for repeat orders.

Results

A Leading Payer Reduces the Costs of Medical Management

A national health insurance plan with more than 30 million members across the U.S. was under a corporate mandate to reduce medical management costs within the next fiscal year. The health plan’s clinical talent hiring and retention costs were high and it also faced considerable challenges in staffing for care management. The health plan needed a comprehensive strategy for addressing MLR regulations and compliance.

We developed a complete solution for handling the client’s commercial utilization management (UM) claims from pilot to roll-out. Our accredited and U.S. licensed clinical teams remotely accessed the client’s platform from multiple offshore operations centers and provided a full slate of UM services.

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