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CIOReviewT h e N a v i g a t o r f o r E n t e r p r i s e S o l u t i o n s

MARCH 21, 2018

eCOMMERCE SPECIAL

CIOREVIEWINDIA.COM

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CEO INSIGHTSMilan Kumar,

CIO, WABCO

IN MY OPINIONAditya Rao, Partner, PwC

Lumata Digital

Parag Grover, CEO

Driving Omnichannel Consumer & Devices Engagement

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Lumata DigitalDriving Omnichannel Consumer

& Devices Engagement

With a steep decrease in communication costs, enterprises are now increasingly becoming pro-active in reaching out to their consumers. How-ever, to engage the consumers, many enterprises are triggering quite the opposite i.e. consumers are becoming increasingly dis-engaged with an onslaught of non-relevant communication. The emotional connect between the enterprises and its consumers has been lost for many. The en-gagement disconnect problem is so acute that a few enterprises have reverted from digital en-gagement to the traditional broadcast media as they feel the broadcast media are better at creat-ing a greater recall value with consumers.

Delhi NCR based Lumata Digital - a digi-tal engagement solutions firm - strives to bridge the communication gap and keep the consum-ers actively and emotionally engaged with the enterprise. The engagement journey begins with deep insights into the consumer psyche by ana-lysing the digital footprint of each consumer. Thereafter, the enterprise can easily overcome

By Shaheen Saikia

20 MOST PROMISINGe-CommerceSOLUTION PROVIDERS 2018

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Lumata DigitalLumata Digital

has architected

a robust

platform

enabling

enterprises to

connect with

the consumers

using next-gen

engagement

channels Parag Grover, CEO

COVER STORY

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the challenges of engagement by taking a data-centric omnichannel engagement approach.

Built with the idea to engage consumers through the channel of their choice, Lumata Digital has architected a robust platform enabling enterprises to connect with the consumers using next-gen engagement channels (such as interactive videos and social media) in addition to the traditional channels (such as SMS, IVR, E-mail, USSD etc), all the while maintaining a single view of the consumer.

Providing further insight into this omnichannel approach, Parag Grover, CEO, Lumata Digital, elabo-rates, “While there is a lot of talk in the industry about the omnichannel mode of communication, very few companies can truly claim to adhere to an omnichan-nel strategy since most them are actually multichannel. Multichannel basically means that service providers may communicate with consumers via multiple channels but they might not have a single view of the consumers.” Citing an example he further adds, “For instance, an en-terprise may have a CRM system based on contact cent-ers and the consumer profile remains tightly coupled in that particular application. If the enterprise chooses to communicate to the consumer through SMS/E-mail/chat etc, the consumer information gets separated across various systems. This creates challenges for the enter-prises in consumer engagement due to scattered, incom-plete and often duplicate insights thus resulting in poor consumer experience. This may tip the consumer off the edge due to non relevant or repetitive communication. Lumata Digital ensures enterprises have unified view of all consumer interactions and the flexibility to engage with consumers using the most relevant channel based on the consumer insights.”

Another strong distinction which Lumata Digital brings into the picture is the ability to work with struc-tured as well as unstructured data. Social media posts, a major contributor to unstructured data, has emerged as a big game changer in the consumer engagement land-scape bringing in the potential to make or break the im-age of enterprises. Lumata Digital is perfectly equipped to exploit such sources while also addressing the chal-lenges of consumer experience.

Opportunity to MonetizeIn order to effectively increase the value of consumers, Lumata Digital provides intelligent, robust and virtual-ised platforms touching consumers at different points of their lifecycles.

Lumata Digital’s digiEnable is a powerful service lifecycle management platform which enables enterpris-es to strengthen their bond with consumers by creat-ing and provisioning unique personalized subscription-based services bundled into relevant products. The powerful service creation environment gives opportu-nity to enterprises to create and monetize highly cus-tomized and personalized products which can range from a unit to a combination of many products. One of the many use cases could be where enterprises are of-fering cloud services to consumers. The consumers may pick and choose individual services or bundles and pay using the payment plan of their choice. The platform enables the enterprises to offer this service flexibility to its consumers thereby greatly elevating the consumer experience rendered.

Highly Interactive EngagementLumata Digital’s digiEngage enables enterprises to unlock the value of their consumers with emphasis on retention and loyalty. As opposed to the one-size-fits-all methodology, digiEngage enables organizations to differentiate consumers into various segments and then deliver exciting personalized experiences by using con-sumer insights and applying contextual strategies such as a combination of Points-based, Badges-based or be-spoke loyalty programs.

Interactive multimedia technologies have been witnessing a lot of traction in the current consumer engagement landscape, bringing in the potential for greater conver-sions rates. Lumata Digi-tal is already harnessing its power to create in-novative solutions such as Video Bill and Gamified Engagement. Video Bill is an interactive billing solu-tion wherein consum-ers are presented with a detailed summary of the various transactions in a multimedia format as they open the bill. With a call-to-action built within the bill, the enterprises achieve better conver-sion rates to upsell or cross-sell addi-tional services, especially utilizing the

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interactivity of gamified engagement. As an example, the gamified engagement may encourage the user to solve a simple interactive puzzle or spin-a-wheel to avail special offers.

Extending the video engagement to other verti-cals in an organisation, Lumata Digital has launched Visume that allows an enterprise to “Hire fast, Hire

Smart”. Visume is aimed to transform the tra-ditional hiring process and replaces it with

a new interactive process that results in-significantly shorter recruitment cycles. Designed to facilitate quick and high-vol-

ume recruitments, Visume is an easy-to-use visual platform which uses Robotics Process

Automation and short-video of the candi-date to select the candidates for a job posi-tion. The candidate is objectively evaluated

on multiple dimensions by the platform for the relevant skillset. This includes automatically

scoring the resume in terms of relevancy of the job us-ing heuristic machine-learning algorithms. Additionally, the platform can quiz the candidates with relevant ques-tions and automatically score each answer. Thus, the Vi-sume platform drastically reduces the hiring time and associated costs.

Analyzing Consumer BehaviourLumata Digital’s digiEmpower is a big data analytics platform with a repository of various analytical models which empowers enterprises with a robust decision sup-port system. Sourcing in data from existing business ap-plications such as ERP system, marketing CRM, sales CRM, social media etc., digiEmpower provides enter-prises with a 360-degree multi-dimensional profile of the consumers along with a historical perspective of the consumer’s digital journey. Empowered with these insights, enterprises are better equipped in taking data driven intelligent decisions, developing contextual strat-egies for different consumer segments to improve busi-ness KPI’s.

Staying Abreast of TechnologyIn present times, one of the key determinants of an en-terprise success is consumer experience and consumer engagement. Lumata Digital has been spearheading the domain by developing solutions that drive consumer experience with a personal touch. Virtualization, Big Data Analytics and Robotic Process Automation have stood as key enablers in this process. Parag Grover ex-pects the market to further evolve with the advent of such disruptive concepts. Staying abreast of technol-ogy, Lumata Digital envisions to disrupt the indus-try with innovative solutions that enhance consumer engagement & experience thus resulting in increased revenue for enterprises.

Managing Social Media Presence

Social media today has evolved from a net-working platform to a strong business tool. A poor consumer experience could lead to a viral social media post strong enough to affect the brand image. Consequently, enterprises are now making attempts to engage with consum-ers across social media, respond to consumer queries and resolve complaints. However, with so many consumers taking on to social me-dia to vent their dissatisfaction, there are high chances that some complaints are exaggerated, untrue or even being tweeted by a competitor through bots.

Lumata Digital provides a set of social lis-tening and analytical tools that processes un-structured data on social media using Natural Language Processing techniques. With the sea of tweets and messages coming in the enter-prises’ social media handle, it can conduct a sentiment analysis about the brand, compare it with that of peer brands and check the NPS of their own brand. Using these tools enter-prises can further determine the value and genuineness of asocial media account and take apt actions.

Lumata Digital’s digiEngage enables enterprises to unlock the value of their consumers with emphasis on retention and loyalty

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Company:Lumata Digital

Description:The portfolio comprises loyalty management, service delivery & monetization, smart promotion management and mobile wallet revenue enhancement solutions.

Key Person:Parag Grover CEO

Website:lumatadigital.com

Recognizes

In Annual Roll of Honor As one of the

Lumata Digital

Sudhakar SinghEditor

CIOReview India

In commendation for their unbridled strive towards excellence and innovation in this field

CIOREVIEWINDIA.COMT h e N a v i g a t o r f o r E n t e r p r i s e S o l u t i o n sCIOReviewCIOReviewThe literal meaning of

ecommerce translates to commercial transactions conducted

electronically on the Internet. Either occurring as B2B, B2C, C2C or C2B, ecommerce generates and consumes various types of data across different operations. Enterprises are increasingly finding this difficult to integrate and streamline this huge data base under one platform and thereby generate powerful analysis, sometimes proving to be a much-needed breakthrough to re-design the entire operation’s architecture. For sure, cost, time and resource implications will be borne by businesses making the decision to choose the aptest e-commerce solution as such; critical to say the least.

Quite a few people will recognize one of the largest e-commerce platforms; the Indian Railways catering to its customers since years now with its e-ticketing kiosks. Apparently, the database generated and the sleuths of operations integrated

inside makes it the epitome of creating a live database with transactions difficult to fathom. Businesses of all rungs have the opportunity to trap vast opportunities with the best e-commerce solution and march ahead. Opting for an apt e-commerce solution provider allows the ecommerce stakeholders to redesign this segment. The stakeholders, years of experience and expert’s views are some of the other pivotal aspects on which the decisions can be made. Considering these and observing the trends as well, CIOReview India has come up with a list of “20 Most Promising e-commerce Solution Providers 2018”. A distinguished panel of CEOs, CIOs, industry analysts and the CIOReview India editorial team has closely scrutinized these companies addressing the above features. We believe that these vendors will bring in a better sense of clarity thereby enabling the e-commerce stakeholders to take decisions that will sustain the test of time.

20 Most Promising e-Commerce Solution Providers 2018

eCOMMERCE SPECIAL

MARCH 21, 2018