Wipro launches cloud based retail solutions – shrinkage & digital customer management
SOURCE: Press Release
DATE: Jan 12, 2010
Wipro is continuing to build deeper industry specific products. Retail is one growth area for a number of the outsourcing vendors. The Retail solution Wipro has launched are in the customer digital experience area and another in shrink management solutions.
Shrinkage in Retail industry is defined by the industry what it takes to cover financial losses that retailers face through spoilage, damage, error and theft – costs the global retail industry approximately $232 billion a year, equivalent to more than 50 per cent of bottom line profits for many retail organisations. The industry spends around $46 billion every year trying to address it.
And for those of you still thinking of the Seinfeld Shrinkage episode, well retail is a world part!
The trend to go digital in the Retail industry is the other big thing given that a number of retailers are looking to offer digital storefronts and offer digital experience to their customers .
Press Release:
Wipro Technologies, the global IT services business of Wipro Limited [WIT], announced the launch of two strategic retail solutions, Digital Customer Experience Platform and Loss Prevention Platform, today at the National Retail Federation Conference.
Wipro’s Digital Customer Experience Platform (DCxP) is a comprehensive solution designed to enable retailers manage their online business in an integrated manner. It is a pioneering effort to integrate social media, community features and personalization to provide an engaging customer experience. DCxP provides retailers the ability to ship to over 200 countries globally, thereby providing access to newer markets. DCxP also helps retailers cut “time to value” by half with minimal capital spend and a pay-by-drink model.
Wipro’s Loss Prevention (LP) Platform is a complete shrink management solution that provides retailers an integrated view across the entire shrink management lifecycle. The platform packs in an analytics suite that helps retailers prevent fraud by leveraging predictive modelling. LP Platform helps identify internal and external theft, and provides a comprehensive view – from identification to resolution. This solution helps retailers accurately pin-point areas of shrink that were previously difficult to identify.
“Consumer behaviour is changing with the emergence of social networks and expectations of consistent cross channel experience. Wipro’s Digital Customer Experience and Loss Prevention platform provides an integrated toolset that enables retailers to leverage these trends. Wipro continues to innovate and provide transformational capabilities in technology, infrastructure and business operations, to enable our Retail customers to improve their customer experience, operational efficiency and profitability,” said Bhanu Murthy B M, Senior Vice President- Retail, CPG, Transportation & Government, Wipro Technologies.
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