In today’s world of near ubiquitous connectivity consumers have developed increasingly high expectations from retailers. The result is that businesses are getting closer to their customers, which is positive for the industry, but retailers need an eCommerce solution that supports this new relationship to be successful.
This leads to the question of which technology is best suited to the task.
Online services have traditionally been built on in-house IT by retailers with the means and expertise to do so, but in recent years the rise of cloud computing has levelled the playing field and opened up new opportunities for businesses of all sizes. In particular retailers are making the transition to Software-as-a-Service (SaaS) applications to develop a modern and flexible ecommerce platform.
To evaluate the extent and effect of this shift Oracle commissioned a report by Forrester, which revealed three key findings.
According to Forrester, among the top roadblocks to online success for a business are expensive technology integrations, an inability to innovate and poor site performance. Only price competition sits further up the tree.
This agile development hinges on the creation of suitable APIs . Successful eCommerce companies understand that APIs are a key building block of the digital business and are integral to delivering a robust digital experience to customers on multiple platforms.
This agile development hinges on the creation of suitable APIs.
Forrester’s findings show that among companies who have adopted SaaS, those who prioritize modern development technologies such as APIs and HTML5 have experienced both higher revenue growth and higher market.
Of course, building these APIs is more than just a technology initiative. The ecommerce teams spearheading the company’s online activity must work closely with customer experience experts to develop an API approach that reflects the business’ wider CX strategies.
Regal Beloit has a wide product range, including motors used across a broad spread of home and commercial environments. Its first IoT product was a swimming pool pump motor. Understanding usage is a great way to work out what’s needed in future products and Regal Beloit decided an IoT implementation in the pumps would provide the level of detail required.
SaaS is quickly becoming the platform of choice for eCommerce . As mentioned, more than half of those companies polled by Forrester are using SaaS. Of those planning to switch platforms, 46% are looking at a SaaS solution.
SaaS is quickly becoming the platform of choice for eCommerce.
Nevertheless, objections to software in the cloud persist. Security concerns are at the top of the list despite strong evidence that state-of-the-art SaaS applications are no less capable of protecting customer information than traditional hosted solutions.
Concerns around the security of cloud applications are not unique to eCommerce. From Marketing to Sales to HR to Finance, companies still have varying degrees of comfort when it comes to manipulating sensitive data in the cloud.
The tide is turning, however, as businesses increasingly realize that major cloud vendors like Oracle have years of experience managing data security and are ideally suited to protect valuable information in the cloud.
The quest to better understand customers is reshaping most industries, particularly retail, and the experience users receive on a company’s website largely defines their opinion of the brand. Despite some continued resistance, SaaS applications are quickly growing in popularity because they provide the scalability and agility businesses need to deliver on customer expectations.