In this series, so far, we have provided an overview of eClerx’s data science and analytics practices and its L&D ecosystem, besides highlighting its journey from being a KPO to a data science and AI company. We also underscored eClerx’s niche, award-winning solutions that have delivered measurable business impact for Fortune 500 clients across various industries.
As we conclude with this last article in the five-part series, we explore eClerx’s suite of artificial intelligence (AI), natural language processing (NLP), generative AI and metaverse technologies that are transforming legacy use cases, in addition to building capabilities in the state-of-the-art tech space, including generative AI and the metaverse.
AI & generative AI continue to gain traction and importance in the C-Suite
As validated by a recent study by IoT Analytics, AI, generative AI, industry 4.0 and the metaverse are keywords that continue to dominate business conversations at the highest level as they emerged as the most discussed topics by global CEOs in their earnings call. This further validates eClerx’s new capabilities and solutions in these technologies.
From Legacy to Next-Gen: eClerx’s Journey in AI-driven Transformation
eClerx’s decade-long expertise in AI is underscored by their exploration and transformation of legacy use cases like customer support and experience, integrated demand planning, pricing management, and market mix modelling.
Solving business problems using man-machine collaboration
Led by a consultative approach to problem-solving, eClerx has been solving business problems through ‘human – AI interplay’, where humans-in-loop augment the intelligence with contextual, domain knowledge and problem-specific nuances to deliver hyper-focused solutions for high-impact use cases.
Let’s delve deeper into some of these state-of-the-art technologies.
Enabling Conversational Intelligence: eClerx’s Voice &Text.AI is poised to transform Customer Support and Experience
In today’s business landscape, customer support systems need to be fast, intelligent, and empathetic to customer needs. The recent advancements in large language models (LLMs) allow businesses to bring this cohesive and personalized experience to customers at scale.
One of the global hi-tech manufacturers had to incur huge costs owing to incorrect dispatches against product failure issues raised by the customer. eClerx’s Voice.AI solution assisted the agents to correctly determine the failed parts during the call, thus driving an 11% reduction in incorrect part dispatches and significantly improving average handling time and overall customer experience.
eClerx’s Voice & Text.AI solution is a dynamic platform that can be trained and customized to solve a broad spectrum of use cases. Agent training and assistance, call audits, customer sentiment monitoring, and cross-sell interventions are some areas where this solution is used and applied by eClerx in industries like telecom, insurance and pharma.
The platform has constantly evolved to integrate the latest developments in deep learning and generative AI space to provide the best-in-class performance.
Similarly, an insurance provider was able to improve the efficiency of their agents by adopting the Voice.AI solution to determine potential opportunities to cross-sell within their vehicle and personal insurance business.
eClerx’s Market Mix Modelling for Advanced Marketing Optimization & Effective Budget Planning
By delving into the depths of historical data, MMM identifies the most impactful marketing drivers and enables businesses to unravel the secrets of market effectiveness. eClerx’s MMM (Market Mix Modelling) technology leverages machine learning to optimise marketing budgets and propel companies towards success.
It also provides a self-service platform for marketing managers to run real-time scenario analysis and evaluate alternative strategies to determine the best course of action to optimise spend allocation. It is built entirely on an MLOps pipeline that allows quick model refresh and deployment cycle, while constantly monitoring model performance and triggering auto-tuning due to data drifts.
A food-delivery app was directing a high proportion of its marketing budget towards customer acquisition through promotional incentives. eClerx analysed their €200m+ marketing spending to identify opportunities for reallocation of budget across “Top of Mind” and “Performance Marketing” channels with the potential to improve their order volume by 15%.
Driving Profitability through Product Merchandising Analytics & Optimisation
Amid a transformative era in retail, marked by more astute consumers and swift trend turnovers with competitive arenas, merchandising stands at a critical crossroads. Merchants now grapple with the challenge of offering diverse assortments through endless-aisle strategies, while the surge of omnichannel sales demands seamless shopping experiences. eClerx offers three powerful accelerators for the realm of product merchandising and optimization – eRange, eMatch and OptiPrice.
- eRange: Optimisation of SKU Ranges to Enhance Engagement and Conversions
To maximize their presence on marketplaces and stay competitive, brands must curate and optimize their SKU ranges. eRange, an integrated and scalable solution developed by eClerx combines internal product data with market intelligence to identify products that align with market demand and enhance profitable sales growth with reduced logistics for businesses.
One of the world’s top suppliers of industrial products and electronic components wanted to set up a data-driven process to assist their product managers in efficiently deciding on the potential opportunities for SKU addition in their catalogue. The client onboarded the eRange platform, which eventually demonstrated 20X return on their investment.
This data-driven approach eliminates the guesswork in range management by incorporating multiple interlinked models, such as forecasting, matching, segmentation, and optimization.
Another online marketplace retailer in the Middle East wanted to reduce the product gap with the competitors. eRange facilitated the identification of product gaps and further helped scale the breadth and depth of their catalogue with 80% growth in assortment size within a year.
- eMatch: Streamlining Product Matching and Standardisation
Product matching and standardisation are crucial for maintaining data accuracy and consistency across different platforms and reaching customers in an integrated manner. eMatch, a product-matching solution by eClerx, compares products, standardises attributes, and determines their similarity. Whether products are exact matches, functional equivalents, or have no match, eMatch ensures data integrity and facilitates efficient data analysis and decision-making.
By standardizing the process of product matching, businesses can easily identify patterns, trends, and insights hidden within their data, unlocking valuable information to drive strategic actions and optimisations.
A leading US-based supplies & tools client wanted to establish a process to cross-reference SKUs with key competitors and make pricing decisions. eClerx took a multi-pronged approach utilizing “eMatch” along with deep learning from text and images to cross-reference the client’s 1.1M products with the competitor’s 20M products.
This allowed constant monitoring of competitor prices and responding dynamically to update the prices and keep the competitive price advantage.
- OptiPrice: Unlocking Profitability with Effective Price Management
Price optimisation is critical in maintaining healthy margins and boosting a product’s market performance. eClerx’s OptiPrice, an ML-based pricing solution addresses this need by recommending optimal price points for products by leveraging advanced analytics and machine learning algorithms.
OptiPrice enables brands to arrest margin leakage, ensure price consistency, and enhance overall profitability.
A leading retail brand that utilised OptiPrice gained insights into competitor pricing strategies and benchmarking. By responding faster to price changes, they maintained their competitive edge and experienced an impressive 8% surge in revenue.
Unlike other tools in the market, OptiPrice is an end-to-end price management platform. This allows business users to create custom pricing policies across product categories, sales channels and markets by optimising prices for defined business goals like margin, revenue and sales.
One of the leading B2B MRO organisations was facing the issue of high variations in prices offered by sales to close a large deal. The pricing was discretionary and dependent on the size of the deal, historical relationship with customers and time of the year. Adoption of the OptiPrice solution provided insights on areas of margin leakage and the opportunity to save £838.2K by streamlining the discount strategy.
Embrace the Future of Precise Projections: Flex Forecasting for Accurate Predictive Insights
In a world where foresight is the currency of success, eClerx’s Flex Forecasting is a game-changing technology. A self-service and cloud-hosted intuitive platform, it integrates user-friendly interfaces with complex machine-learning techniques. It enables B2B organisations to generate up to 20% improvement in forecast accuracy in most engagements within 3-4 months.
With features like scenario planners, monitoring systems, and deep-dive modules, eClerx’s Flex Forecasting solution equips businesses with the insights needed to make informed decisions.
A global hi-tech retailer required setting up an “Integrated Demand Management” platform to perfectly time the marketing communication spending and maximize the returns on investments for both offline and online channels. eClerx was able to produce the forecasting models with a 95% accuracy and ~75% reduction in the turnaround time for model building and reporting.
From Imagination to Reality: Leveraging the Magic of Generative AI
eClerx’s eGenerative AI Suite (GenAI360) seamlessly integrates ChatGPT, DALL-E, GPT-3 and Content Filter to support businesses on their Generative AI journey. eClerx leverages the foundational models to build an orchestration engine and business-specific IPs around content management, marketing operations, customer care, code automation and insights on demand.
Business areas to leverage Generative AI
- Automating customer service: By integrating ChatGPT with customer service web portals, businesses can obtain automated responses to frequently asked questions, reducing the workload on customer service teams and improving response times.
- Improving image audits: By integrating DALL.E with Theia, eClerx’s proprietary image and video analytics platform, customers can automatically generate captions for images and videos, and even perform image audits. This can be used in a variety of applications, such as social media marketing, e-commerce, and customer service.
- Optimising operations: eClerx leverages ChatGPT & GPT-3 to offer services for tasks such as dialogues, anomaly detection, forecasting, and optimisation. This can help customers improve their operations and gain a competitive edge.
- Consulting and implementation services: eClerx also provides consulting and implementation services to help customers integrate generative AI (X2X) into their existing business processes and systems, where X could be text, image, audio or video.
All of these services enable businesses to leverage generative AI in various domains, such as customer support, HR, marketing, and operations.
An Innovation Roadmap: Exploring the Confluence of AI, Generative AI, the Metaverse, and the Path Ahead
In an ever-evolving landscape where industry trends and client needs are gravitating towards a confluence of artificial intelligence, generative AI, and the metaverse, eClerx emerges as a seasoned solution provider, building new capabilities and making significant bets on the future of these technologies.
Metaverse Global Alliance is eClerx’s new digital innovation hub
Building on a rich legacy of 20+ years of technology and consulting-led content production for Fortune 500 companies, eClerx founded the Metaverse Global Alliance in October 2022.
As a recipient of some of the industry’s most prestigious awards and recognition, eClerx’s data engineering and analytics expertise sets the stage for innovative solutions. Through their thought leadership and commitment to driving actionable insights, eClerx remains a trusted partner for businesses seeking to unlock their full potential and achieve sustainable growth in the digital era.
There are also winds of change with the appointment of a new CEO, Kapil Jain, who joins eClerx after two decades at Infosys. Speaking on the occasion, PD Mundhra, executive director, of eClerx Services Limited said, “Kapil has an experience in sales, consulting, product development, and technology transformation, and has overseen substantial scale in the BPM business. His appointment will further strengthen our leadership team, and accelerate growth for the company both with existing and new clients and services.”
To explore how eClerx can aid businesses in embracing AI and analytics solutions, generative AI and metaverse, visit https://www.eclerxdigital.com.
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