Digital transformation is an indispensable element in the ecommerce industry

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#SandeepGupta #CairnOilandGas #AshwiniVaishnaw

e-commerce in retail space brings solid boost

The pandemic has proved to be a source of immense learning for every business, especially for the ecommerce space. The year 2021 witnessed the emergence of digital as a preferred medium for businesses that led to increased adoption of digital for reaching out to customers. The e-commerce industry due to its highly volatile nature has been one of the earliest to recognize the urgency of adopting the ‘new normal.’ The necessity of employing omni-channel for ensuring sales across channels has paved the way of employing an e-commerce enabler that streamlines all processes such as stock management, warehousing, payment reconciliation and order management. Omni-channel retail (or omnichannel commerce) is a multichannel approach to sales that focuses on providing seamless customer experience whether the client is shopping online from a mobile device, a laptop or in a brick-and-mortar store. The year ahead will see digital transformation being recognized as an indispensable element in the ecommerce industry to drive operations, fulfill customer demands and ensure customer retention. Many support functions that drive ecommerce operations will come to the forefront.

2021 has been a year of learning as it exposed businesses to unexpected situations with global markets opening, shutting and then re-opening again. What emerged as the only tool to cope up is - Technology. Businesses have fast adopted the use of technology from their production units to supply-chain systems, from marketing to customer loyalty systems. In the midst of all this, smart businesses have also accepted the importance of RIGHT PRICE! Technology has also played a key role in price determination of products and services across sectors at massive scales and high velocities. As pricing majorly contributes towards the growth and success of any company, technologies such as Artificial Intellig.

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    e-commerce in retail space brings solid boost

    The pandemic has proved to be a source of immense learning for every business, especially for the ecommerce space. The year 2021 witnessed the emergence of digital as a preferred medium for businesses that led to increased adoption of digital for reaching out to customers. The e-commerce industry due to its highly volatile nature has been one of the earliest to recognize the urgency of adopting the ‘new normal.’ The necessity of employing omni-channel for ensuring sales across channels has paved the way of employing an e-commerce enabler that streamlines all processes such as stock management, warehousing, payment reconciliation and order management. Omni-channel retail (or omnichannel commerce) is a multichannel approach to sales that focuses on providing seamless customer experience whether the client is shopping online from a mobile device, a laptop or in a brick-and-mortar store. The year ahead will see digital transformation being recognized as an indispensable element in the ecommerce industry to drive operations, fulfill customer demands and ensure customer retention. Many support functions that drive ecommerce operations will come to the forefront.

    2021 has been a year of learning as it exposed businesses to unexpected situations with global markets opening, shutting and then re-opening again. What emerged as the only tool to cope up is - Technology. Businesses have fast adopted the use of technology from their production units to supply-chain systems, from marketing to customer loyalty systems. In the midst of all this, smart businesses have also accepted the importance of RIGHT PRICE! Technology has also played a key role in price determination of products and services across sectors at massive scales and high velocities. As pricing majorly contributes towards the growth and success of any company, technologies such as Artificial Intellig

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    Technology plays a catalytic role in the digital transformation which has also influenced the payments industry. Enterprises across industries are embracing innovative digital tools in an attempt to better understand customers and offer them a seamless and safe payments experience. The shift in the financial services space has been seismic as financial institutions that traditionally enabled the payments economy are no longer required to carry out financial transactions. Digital transformation has encouraged regulators, innovators, and providers to focus on cyber and data security.



    It is imperative that innovation in the payments space goes hand-in-hand with security and necessary initiatives are taken to safeguard consumer data and interest. The digital backbone of the world’s second-most-populous country and largest democracy has continued to develop and create a fertile environment for innovation. The growth in the digital payments industry is indicative of the widespread impact of innovations. With ongoing technology disruptions, cloud will continue to evolve into a combination of hybrid and multi-cloud, driving greater choice for users. A report says, India reported 25.5 billion real-time payments transactions ahead of China’s 15.7 bn transactions in 2020. The report further noted that transaction volume share in India stood at 15.6% and 22.9% for instant payments and other electronic payments, respectively while paper-based payments had a considerable share of 61.4%.


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