The Convergence of Physical and Digital Worlds
Will Transform Businesses for a Better Customer Experience
Pitney Bowes Inc. (NYSE:PBI), a global technology company that
provides innovative products and solutions to power commerce, today
revealed five drivers of commerce for 2016.
As businesses examine their physical and digital strategies,
Pitney Bowes identifies five key drivers of commerce for 2016:
1. The Internet of Things (IoT) technologies
will drive better business outcomes
2. Small and medium businesses will greatly
benefit from the digitization of physical communications
3. Personalization and hyper-localization
will drive explosive growth in global commerce
4. Data Analytics will play a key role in
fraud detection and prevention
5. Omnichannel Marketing will increasingly
use data analytics and optimize physical and digital technologies
to deliver a seamless experience for the customer
“At Pitney Bowes, we are increasingly seeing clients of all
sizes reexamine how physical and digital technologies converge to
power commerce,” said Roger Pilc, Chief Innovation Officer for
Pitney Bowes. “Clients are already demanding a more seamless way of
integrating their physical and digital worlds. Businesses will need
to transform their competencies to seamlessly serve customers
across the physical and digital worlds of commerce. For Pitney
Bowes, the Internet of Things, machine learning and data analytics
continue to be areas of investment to enable us to better serve our
clients.”
1. The Internet of Things (IoT)
technologies will drive better business outcomes across
industries
When it comes to industrial businesses, the
opportunity exists to leverage machine-to-machine and Internet of
Things technologies, and extract and analyze data from industrial
machines to drive better business outcomes. Industries across the
board are experiencing a greater focus on creating and measuring
operational efficiency in production settings. The business
benefits include lower cost of operations, greater productivity and
output and higher service levels. Businesses also need the
flexibility to toggle between the physical and digital worlds to
reach their customers in their preferred channels.
2. Small and medium businesses will
greatly benefit from the digitization of physical
communications
Significant shifts in technology, mobility
and information are creating new global commerce opportunities for
small and medium businesses. New tools and technologies enable
small and medium businesses to better target, engage and serve new
customers from around the corner to around the globe. These new
technologies and cloud-based solutions are becoming available to
integrate physical and digital experiences and simplify processes
on one platform. Integrating physical with digital is reinventing
mail, making it more interactive and more sophisticated. For
example, businesses can now complement physical mail pieces with
digital experiences through QR codes, create more interactive and
targeted direct mail, and deliver messages across multiple channels
to boost impact.
3. Personalization and
hyper-localization will drive explosive growth in global
commerce
As cross-border ecommerce becomes more
mainstream, consumers are becoming savvier. Retailers and
marketplaces must continuously improve the global consumer
experience, but shopping experiences across the world are not all
the same. The challenge facing retailers is to create deeper, more
personalized localized experiences that resonate with consumers
from varying countries and regions. To make international purchases
not only possible, but probable, retailers must deliver what their
global consumers want, while also taking into account how they like
to shop.
4. Data Analytics will play a key
role in fraud detection and prevention
The same data analytics in the Cloud that
help create one view of the customer are also being used to fight
crime, help meet regulatory requirements and detect fraud.
Businesses across different industries – financial, insurance,
retail, healthcare and public sector -- have the common
interest in protecting their assets and minimizing their
losses.
Personal identities, which are captured in
the databases of retailers, insurance companies, healthcare
providers, mobile phone providers and more, are almost always
variable. Data quality solutions reconcile these variables and
connect different personas to the same record, matched by a common
address, in a simple, single view. This technology combats the
many faces of fraud, while protecting a business against financial
vulnerabilities and ensuring greater compliance. Physical and
digital technologies must be aligned to protect consumers and their
personally identifiable information. Integrated solutions that
streamline regulatory compliance can help, as can address cleansing
and database cleansing software.
Almost a quarter of security breaches involve
accessing private data in paper-based form. New cloud-enabled
multi-channel communications platforms are now available to help
small and medium businesses ensure client data privacy, meet
growing regulatory requirements and integrate their physical and
digital transactional communications.
5. Omnichannel Marketing will
increasingly use data analytics and optimize physical and digital
technologies to deliver a seamless experience for the
customer
An old strategy has new technologies that
make 2016 the year of one view of the customer. Best next actions
in any physical or digital channel will determine whether marketing
wins the day or drops the ball. Marketing influences within the
enterprise are looking for ways to lower costs and improve ROI.
Making bills and statements more personalized, colorful,
interactive, engaging, and more tightly integrated with digital
channels, helps create more timely relevant and personalized
messages for customers.
Customer service is at the heart of brand
loyalty. In today’s technologically advanced society, there are
more opportunities for prospective and existing customers to
communicate with a brand. Interactive and personalized video offers
human-like communications that improve customer satisfaction, lower
call center volumes and deliver higher customer retention
rates.
With a 95-year track record of innovation, Pitney Bowes is
leveraging physical and digital technologies to drive business
outcomes for clients, including 1.5 million small businesses, 90%
of the Fortune 500 and more than 200 retailers. Pitney Bowes
collaborates with clients on open cloud platforms to create
solutions that transform business. Globally, more than 1,100 Pitney
Bowes innovators have been trained in the areas of the Internet of
Things, Big Data, Data Analytics, Cloud, Mobile, and API
Management.
About Pitney Bowes
Pitney Bowes (NYSE: PBI) is a global technology company offering
innovative products and solutions that enable commerce in the areas
of customer information management, location intelligence, customer
engagement, shipping and mailing, and global ecommerce. More than
1.5 million clients in approximately 100 countries around the world
rely on products, solutions and services from Pitney Bowes. For
additional information, visit Pitney Bowes at www.pb.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20151229005064/en/
Pitney Bowes Inc.Carol Wallace, 203-351-6974Media Relations
DirectorCarol.wallace@pb.com
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