Quadrant Knowledge Solutions announced today that it has named HCL Software as the 2021 technology leader in the SPARK Matrix analysis of both the global B2B and B2C digital commerce platforms market.
Quadrant Knowledge Solutions SPARK Matrix evaluation examined HCL Commerce and fifteen other vendors for B2B market, and 17 other vendors for B2C market, by evaluating the company’s product portfolios, technology strategies, market presence, and customer value proposition. Quadrant Knowledge Solutions’ SPARK Matrix provides a snapshot of key market participants and a visual representation of their positioning, along with strategic insights on how each vendor participant ranks related to its competitors along several axis representing a range of performance parameters coinciding with technology excellence and customer impact.
Digital Commerce platforms help organizations to trade, distribute, and manage goods and services, and conduct sales, operations, and marketing activities through websites, mobile applications, and commerce infrastructure. The platform may offer comprehensive commerce capabilities for B2B, B2C, B2B2C, C2C (consumer to consumer), and C2B (consumer to business) models. Digital commerce platforms provide out-of-the-box capabilities such as storefronts, product catalog navigation, product pages, shopping carts, check-out, and customer account for ease of use and enhanced purchase experience. It supports a unified commerce approach enabling businesses to add and search products, cater to customer orders, and deliver customer-level marketing efforts from a single platform. Digital commerce platforms are playing a significant role in building a strong business ecosystem and driving timely intelligence to accommodate unanticipated business and customer needs. In addition, AI/ML is playing a significant role in augmenting the digital commerce modules such as recommendation engine, price and product optimization, personalization, inventory management, predictive customer segmentation, 1:1 targeting, chatbots, and such others offered across B2B and B2C segments.
Covid-19 global pandemic has accelerated the implementation of digital retail strategies, especially across B2B organizations for delivering a seamless online experience. Digital Commerce platform vendors are offering customizable commerce products for business users to upgrade their antiquated pricing infrastructure and helping them to provide quick pricing quotes for accelerating and optimizing the sales cycles. Besides, the vendors are also enabling business users to support and enhance their real-time digital selling environment as well as scale digital selling channels to meet the demands (including website responsiveness and accuracy) of online B2B buyers. The digital commerce platform vendors are focusing on enhancing the B2B functionalities and augmenting commerce workflows specifically through the mobile channel. B2B organizations are looking at optimal ways to leverage the personalization and product recommendation tools across their operations. These organizations are adopting advanced order management capabilities such as order shipping and order tracking through a new platform or adding these features to an existing platform. Organizations are also leveraging insight tools such as web analytics, AB/MV testing, customer analytics, etc. to uncover cross-selling opportunities, understand the types of products and pricing to be offered, and drive customer satisfaction.
HCL Commerce offers powerful B2B specific digital commerce functionalities, including catalog/merchandise management, promotion, and marketing, organization management, contracts, entitlements, catalog filter and pricing tools, approvals, shipping management, and extended sites store management. The platform facilitates B2B organizations to optimize their e-commerce workflow with its built-in suite of tools for store management, merchandising and marketing operations. For B2C, HCL Commerce delivers native B2C commerce capabilities including a flexible catalog management system, easy multi-site implementation capabilities, personalization, centralized business user tooling, product management, search, customer service and precision marketing.
According to Quadrant Knowledge Solutions analysis, “HCL Software has scored strong overall ratings across the performance parameters of the technology excellence and the customer impact for B2B and B2C Digital Commerce platforms market. HCL Software has emerged as the top 3 technology leader in the 2021 SPARK Matrix of B2B and B2C Digital Commerce Platforms market.”
“HCL Software’s enterprise-grade digital commerce platform is well-versed in catering to complex business-to-business (B2B) requirements, helping business users to manage and optimize digital commerce activities across their network with robust, self-service tools and capabilities,” said Priyanka Panhale, Analyst, Quadrant Knowledge Solutions. “HCL Commerce continues to differentiate itself in the global B2B digital commerce platform market with B2B-grade, AI/ML-driven personalization and marketing capabilities, its support to configure and deploy commerce site rapidly, and the ability to deliver retail-like shopping experience to its business customers through a single unified platform,” adds Priyanka.
“HCL Software’s cloud-native, cohesive digital commerce platform infused with AI-powered analytics enables brands to design compelling customer-specific products and services as well as optimize omnichannel campaigns to deliver personalized shopping experience across channels. The platform supports a hybrid approach by offering a comprehensive set of capabilities exposed via a modern REST API,” said Shruti Jadhav, Associate Director, Quadrant Knowledge Solutions. “HCL Software with its strong customer experience capabilities, Google Cloud partnership, robust technology platform and functional capabilities, integration framework, and best-in-class inheritance, is well-positioned to expand its market share in the global digital commerce platform market,” adds Shruti.
“We continue to enhance HCL Commerce to be the cloud-native transaction platform that helps our customers sell more,” said Raj Iyer, Vice President of Product Management at HCL Software. “Our unwavering focus to deliver new capabilities that make a difference in how our customers sell and the results and conversions they achieve, is helping them win and out-perform their competition.”