Quadrant Knowledge Solutions announced that it has named HCL Software, a leading global technology company, as the 2022 technology leader in the SPARK Matrix analysis of the global B2C and B2B digital commerce platforms market.
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The Quadrant Knowledge Solutions SPARK Matrix™ includes a detailed analysis of global digital commerce platform market dynamics, major trends, vendor landscape, and competitive positioning. The study provides competitive analysis and ranking of the leading digital commerce platform vendors in the form of its SPARK Matrix, providing strategic information for users to evaluate different vendor capabilities, competitive differentiation, and market position.
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. Depending on the vendor capability, the platform may o**** comprehensive commerce capabilities for B2B, B2C, B2B2C, C2C (consumer to consumer), and C2B (consumer to business) models. Digital commerce platforms may 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 to cater to various business segments. In order to serve unanticipated business and customer needs, many digital commerce platforms are playing a vital role in developing a strong and secure business ecosystem as well as gaining real-time, actionable intelligence.
Due to the growing digital transformation and customer-centric approach across various industry sectors, a robust personalized customer experience strategy is considered amongst the most essential to meet the ever-growing customer expectations, improve brand loyalty, and win over the competition. With the growing popularity of personalized customer experience and making a strong digital presence across industry sectors, the digital commerce platform market is expected to find significant adoption across business segments.
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The digital commerce platform’s key value proposition of providing actionable insights, intelligently managing, and automating product catalogs, and delivering personalized experiences with intelligent search and real-time recommendations are driving the market growth across the geographic market and industry segments. Owing to the rising competition and exponential growth opportunities, several new vendors are emerging with innovative technology offerings. Leading digital commerce platform vendors are making significant investments in improving AI and machine learning capabilities to support a wide range of use cases and leveraging automation and advanced analytics to improve the overall campaign performance and effectiveness.
HCL Software offers enterprise software products and platforms for security, marketing, commerce, and digital domain. The company is positioned amongst the leading digital commerce platform vendors in the 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 facilitates organizations to transact directly with consumers (B2C), businesses (B2B), and business to business to consumer (B2B2C). The HCL Commerce platform offers native capabilities, including a flexible catalog management system, easy multi-site implementation capabilities, personalization, centralized business user tooling, product management, search, behavior analytics, 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 technology leader in the 2022 SPARK Matrix of B2B and B2C Digital Commerce Platforms market.”
According to Priyanka Panhale, Analyst, Quadrant Knowledge Solutions, “HCL Software’s commerce platform facilitates B2B organizations to optimize their e-commerce workflow with its robust built-in suite of tools for store management, merchandising and marketing operations. The platform is capable of managing complex requirements of B2B organizations as well as branding differentiation with agility as it is built on a cloud-native architecture. With its cloud-native approach, comprehensive functional capabilities such as native search functionality, merchandise management tool, and ability to deliver innovative and engaging brand experiences through a configurable platform, has received strong ratings across technology excellence and customer impact.”
“Through its strong customer experience capabilities, Google Cloud partnership, agile technology platform, robust functional capabilities, and best-in-class inheritance, HCL Software reaffirms its position as a technology leader 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 cloud-native, unified platform titled HCL Commerce helps organizations drive revenue growth through new enhanced checkout flows, multiple payments, multi-user order collaboration, native marketplace, open-source CDP, and robust machine learning support. HCL Software has scored strong overall ratings across the performance parameters of the technology excellence and the customer impact for B2C Digital Commerce platforms market and has been placed as a technology leader,” Priyanka adds.
“Every investment we make in the HCL Commerce platform is designed to help our clients sell more,” said Gary Schoch, VP and CX Global Leader, HCL Software. “There is an explosion of new ways to engage customers in the marketplace, so it is vital that our clients are set up to achieve new revenue growth through rapid innovation. We have created a CX Studio and Innovation Team that has designed and built nearly 90 new assets that our clients can adopt such as visual merchandizing tools and AI/ML based products.”
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