B2B and B2C digital commerce software provider PhaseZero announced its CxAnalytics solution Tuesday (January 18), designed to help business managers proactively manage sales and market growth.
This new addition is part of the company’s broader SaaS (SaaS) platform.
Depending on the release, these solutions allow businesses to take advantage of role-based information and manage things like pricing, inventory, and availability, along with inventory scenarios, cart abandonment, order shifting, and user search.
“So far, data science, artificial intelligence, and machine learning capabilities have been affordable and accessible only to large companies,” PhaseZero founder and CEO Ram ChandraSekar said in the release.
“By integrating industry-leading AI and data science technologies with prefabricated connectors for all relevant data sources, CxAnalytics Enterprise Data and Enterprise AI makes advanced analytics capabilities affordable and accessible to our customers in the automotive and industrial manufacturing ecosystem,” ChandraSekar continued.
The release says the platform will bring easy-to-use access to data for many people such as business users, developers, and marketing agencies, and will include applications based on artificial intelligence (AI) and machine learning (ML).
There will also be configurable data flows, cloud-based solutions, and a portfolio of pre-built data connectors for linking to parts catalog systems, among other things.
PYMNTS writes that the pandemic has seen B2B companies move into e-commerce channels and markets, as have other companies, including B2C companies. Payments and processing are also trending this way as companies work to keep themselves afloat in a changing world.
See also: 66% of B2B companies believe digitally enabled sales interactions are important to customers
B2B buyers, especially since the pandemic, have reported a preference for online purchases and interactions in this way with business partners.
According to the Global B2B Payments Playbook, a collaboration between PYMNTS and Worldpay B2B Payments, 66% of B2B business representatives believe that digital sales are more important to customers than regular sales interactions.
48 percent of those representatives also said this applies to the lead-up to the pandemic, and the report notes that B2B companies need to keep up with ease of use and make their offerings easy to navigate.
Related: B2B Global Payments Guide