Analytics in procurement of ecommerce portal

E-procurement platforms have significantly gained traction among B2B organizations to procure goods and services in bulk. At the same time, reverse auction, owing to its ability to generate high consumer surplus, has played a critical role in the success story of e-procurement platforms.

iFusionTM Strategic Sourcing solution is designed and envisioned for e-commerce portals to find the right match between merchants and consumers for their desired products on a specific price range using reverse bidding.

Features

Merchant Web Portal and Consumer App

Enables customers to add their own query description of products/services, identifies customer requirements using an NLP algorithm, and in turn, allows multiple merchants to fulfill the customer request in a competitive way

Relevant Merchant Shortlisting

Directs a customer’s request to the right merchants who are in the best position to fulfill that request by analyzing merchant profile, inventory, ratings, transactional history, etc. using a relevancy algorithm

Customer Segmentation and Targeting

Uses customer cognitive behavior patterns, transactional data, and market trends to help merchant organization propose their products to the right customers. Additionally, a ranking algorithm orders the offers made by merchants based on customer’s preferences.

Benefits

Fastens the entire process of procurement in terms of collecting the bids from suppliers

Maximizes the efficiency and effectiveness of supplier campaigns through personalized customer targeting

Deepens customer engagement and loyalty resulting in increased sales and revenue

Enhances consumer experience by allowing them to intuitively define their requirements

Build data, AI, and analytics solutions at accelerated pace and
reduced cost using iFusionTM Platform

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