MIDDLETON, Mass., April 1, 2022 /PRNewswire/ — Quadrant Knowledge Solutions today announced that it has named HCL Software, a leading global technology company, a 2022 Technology Leader in the SPARK Matrix analysis of the global B2C and B2B digital commerce platforms market.
Quadrant Knowledge Solutions’ SPARK™ Matrix includes an in-depth analysis of the global digital commerce platform market dynamics, key trends, vendor landscape, and competitive positioning. The study provides competitive analysis and ranking of leading digital commerce platform vendors in the form of its SPARK matrix, providing strategic insights for users to assess different vendors’ capabilities, competitive differentiation, and market position.
Digital commerce platforms help organizations exchange, distribute, and manage goods and services and conduct sales, operations, and marketing activities through websites, mobile apps, and commerce infrastructure. Depending on the provider’s capability, the platform can offer comprehensive commerce capabilities for B2B, B2C, B2B2C, C2C (consumer-to-consumer), and C2B (consumer-to-business) models. Digital commerce platforms can provide out-of-the-box features like storefronts, product catalog browsing, product pages, shopping carts, checkout, and customer account for ease of shopping. usage and an enhanced shopping experience to cater to various business segments. In order to meet the unforeseen needs of businesses and customers, many digital commerce platforms play a vital role in developing a strong and secure commerce ecosystem as well as providing real-time actionable insights.
Due to the increasing digital transformation and customer-centric approach in various industry sectors, a strong personalized customer experience strategy is considered one of the most essential to meet ever-increasing customer expectations, improve loyalty to the brand and win the competition. With the growing popularity of personalized customer experience and strong digital presence across all industry verticals, the digital commerce platform market is expected to find significant adoption across all business segments.
The digital commerce platform’s key value proposition of delivering actionable insights, intelligently managing and automating product catalogs, and delivering personalized experiences with intelligent search and real-time recommendations is driving the growth of the market across geographic markets and industry segments. Due to increasing competition and exponential growth opportunities, several new vendors are emerging with innovative technology offerings. Leading digital commerce platform providers are investing heavily in improving artificial intelligence and machine learning capabilities to support a wide range of use cases and leverage automation and advanced analytics to improve overall campaign performance and effectiveness.
HCL Software offers software products and enterprise platforms for security, marketing, commerce and the digital domain. The company ranks among the leading providers of digital commerce platforms in SPARK Matrix: B2C Digital Commerce Platform, 2022 and SPARK Matrix: B2B Digital Commerce Platform, 2022. HCL Software offers HCL Commerce, a single, unified platform that enables organizations to transact directly with consumers (B2C), businesses (B2B) and between businesses and consumers (B2B2C). The HCL Commerce platform offers native features including a flexible catalog management system, easy multi-site implementation capabilities, customization, centralized tools for business users, product management, search, behavior analysis and precision marketing.
According to Quadrant Knowledge Solutions analysis, “HCL Software received strong overall ratings on the Technology Excellence and Customer Impact performance metrics for the B2B and B2C Digital Commerce Platforms market. HCL Software became the Technology Leader in the SPARK Matrix 2022 of B2B and B2C Digital Commerce Platforms Market.”
According to Priyanka Panhale, Analyst, Quadrant Knowledge Solutions, “HCL Software’s Commerce Platform helps B2B organizations optimize their e-commerce workflow with its suite of robust integrated tools for store management, merchandising, and marketing operations. The platform is able to handle the complex requirements of B2B organizations as well as brand differentiation with Thanks to its cloud native approach, its comprehensive functional capabilities such as native search functionality, merchandise management tool and the ability to offer innovative and engaging brand experiences through a configurable platform, received high marks across technology excellence and customer impact.”
“With its strong customer experience capabilities, partnership with Google Cloud, agile technology platform, robust functional capabilities, and best-in-class heritage, HCL Software reaffirms its technology leadership position in the SPARK Matrix: Digital Commerce Platform , 2022 and is well positioned to expand its market share in the global digital commerce platform market. HCL Software’s unified, cloud-native platform, titled HCL Commerce, helps organizations drive revenue growth through new and improved payment flows, multiple payments, multi-user ordering collaboration, a native market, open-source CDP, and robust machine learning support. HCL Software received strong overall ratings on the Technology Excellence and Customer Impact performance metrics for the B2C Digital Commerce Platforms market and was placed as a Technology Leader,” adds Priyanka.
“Every investment we make in the HCL Commerce platform is designed to help our customers sell more,” said Gary Schoch, Vice President and Global Head of CX, HCL Software. “There is an explosion of new ways to engage customers in the market, so it is essential that our customers are set up to achieve new revenue growth through rapid innovation. We have created a CX studio and a innovation team that has designed and built nearly 90 new assets for our customers to adopt, such as visual merchandising tools and AI/ML-based products.”
About HCL software: HCL Software, a division ofHCL Technologies (HCL) develops, markets, sells and supports more than 30 product families in the areas of customer experience, digital solutions, DevSecOps, security and automation. HCL Software is the factory of cloud-native solutions for enterprise software and powers millions of applications in more than 20,000 organizations, including more than half of Fortune 1000 and Global 2000 companies. HCL Software’s mission is to drive the ultimate success of its customers through its IT investments through relentless product innovation.
About Quadrant Knowledge Solutions:
Quadrant Knowledge Solutions is a global consulting and advisory firm focused on helping clients achieve their business transformation goals through business strategy and growth consulting services. At Quadrant Knowledge Solutions, our vision is to become an integral part of our client’s business as a strategic knowledge partner. Our research and advisory deliverables are designed to provide comprehensive insights and strategic insights to help clients formulate growth strategies to survive and thrive in ever-changing business environments. For more research available, please visit https://quadrant-solutions.com/market-research/
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