Digital transformation is at the heart of business resilience
LONDON, Nov. 24, 2020 /PRNewswire/ -- In an article published on Business Reporter, Will Lovatt, General Manager EMEA at PROS, explains why organisations that leverage AI to develop and execute omni-channel selling strategies will prosper.
PROS' COVID-19 B2B Buying Trends report demonstrates that 37 per cent of businesses have primarily used digital channels for purchasing during the pandemic, that's a 29 per cent increase, compared to the period before the pandemic. However, not all vendors were prepared sufficiently for the changes that the crisis brought and most buyers have reported problems engaging with them.
Successful businesses will ensure that all sales channels are unified into a coordinated operation that supports business recovery from Covid-19. Enabling this, and at the same time providing efficient self-serve channels, requires that data is used to provide a clear understanding of customer expectations and the ability to personalise experiences.
Buyers are increasingly demanding fast responses, transparency in pricing and inventory, proactivity and personalised responses to their inquiries. This requires a new level of technology beyond simple eCommerce processes.
Artificial Intelligence is one technology that helps businesses develop more effective processes. AI enables organisations to extract trends from sparse data and make decisions based on fact rather than gut feel, allowing more dynamic and appropriate pricing and deal management.
Perhaps most importantly, AI can be used to anticipate customer needs and drive an offer that is personalised for the recipient. This facilitates a high quality, efficient and satisfying experience across all channels. This ability to predict and deliver on customer needs will build the stronger resilience that is essential in a time of change and uncertainty.
To learn more about digital transformation in businesses, read the article.
About Business Reporter
Business Reporter is an award-winning supplement published in the Sunday and Daily Telegraph, City AM and online, delivering news and analysis on issues affecting businesses to a global audience. It also hosts conferences, debates, breakfast meetings and exclusive summits.
PROS Holdings, Inc. provides AI-powered solutions that optimize selling in the digital economy. PROS solutions make it possible for companies to price, configure and sell their products and services in an omnichannel environment with speed, precision and consistency. Our customers, who are leaders in their markets, benefit from decades of data science expertise infused into our industry solutions.
SOURCE Business Reporter