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Enjoy our weekly roundup of top news stories across the Customer Experience (CX) landscape.

 

Oracle CX Social Content:

  • Great news! @Oracle was named a winner of @pgreenbe’s coveted #CRM Watchlist - one of the most coveted #awards in the #CX space! http://ora.cl/fe802 via @ZDNet #OracleCX
  • .@OracleCommerce & @OracleEngmtCld news are moving to @OracleCX! Start following @OracleCX for the latest product updates and news!
  • Learn about #CX and the #experienceeconomy in this deep dive with @mkrigsman and @rtarkoff , EVP and General Manager of @OracleCX Group via @cxotalk: http://ora.cl/Dv8HE
  • Creating personalized experiences is the secret to growing your #loyalty base http://ora.cl/bD1JJ by @bobbymeix #CX #OracleCX #custloyalty
  • Find out how your peers are adapting to meet skyrocketing #CX at #OOW19 . View the CX content program here: http://ora.cl/bp1zI

 

Oracle CX in the News:

CRM Watchlist 2019: The big engines that could  - Paul Greenberg, Zdnet, 7.15.19

  • Check out the story from independent analyst Paul Greenberg diving into Oracle’s victory surrounding our industry impact, fundamental culture change and company vision in his CRM Watchlist editorial.

 

Industry News:

How to Turn Customer Experience Strategy into CX Execution - Jeannie Walters, Customerthink, 7.17.19

  • Customer experience strategy requires a leader who is willing to beat on a drum so often some people will think you are too focused on this idea.

Ask The Consultant: Your Top Customer Service Questions Answered – Micah Solomon, Forbes, 7.17.19

  • Each customer service minute should be devoted to a single aspect of providing great service. Read about more interesting questions on customer service.

Good, bad, or indifferent: Influencing emotion in customer experience - Gavin James, Customerthink, 7.18.19

  • Creating positive emotional customer experiences starts within a company. It’s important to have a clear CX vision and help employees understand how to bring that vision to life every day.
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Oracle recently surveyed 477 senior CX executives form across the globe to discuss their firm’s customer experience capabilities and business results.  We wanted to understand the correlation between CX performance and the maturation of emerging technologies and validate the extent to which adopters are driving business success. Further, we also wanted to understand what distinguishes the leaders who are aligned with CX best practices.  We published these insights in a brand new report titled The Impact of Emerging Technology on CX Excellence: Insights from Oracle’s Global Survey of Customer Experience Visionaries.

The "emerging technologies" we discuss are artificial intelligence and machine learning, digital assistants and chatbots, augmented reality and virtual reality, and the Internet of Things.    

What Does it all Mean?

The report discusses a broad spectrum of topics related to the use of emerging technologies for CX.  It's clear that brands are adopting these technologies at a rapid pace. You can use this report to better understand how and why organizations are applying these technologies to improve the customer experience and to create urgency within your organization to transform its CX technology portfolio, and learn from your peers how to maximize your success.

If you’re interested in learning how Organizations are turning to emerging technologies to deliver the innovative, distinctive, and differentiated brand experiences that modern customers demand, download The Impact of Emerging Technology on CX Excellence – Insights from Oracle’s Global Survey of Customer Experience Visionaries, today.

 

 

 

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Enjoy our weekly roundup of top news stories across the Customer Experience (CX) landscape.

Oracle CX Social Content:

  • How @OracleServCloud helped @Payoneer’s call center agents offer step-by-step instructions to help their #customers set up automatic payments from a virtual #retail #marketplace: http://ora.cl/fj4ZX #OSvC via @Forbes @BanksLouie
  • Transform your #eCommerce before you need to! Check out how @WebContinental competes in a rapidly-growing #market http://ora.cl/SH8dP by @PedroLdeMartini
  • 2,000 sessions, 250 exhibitors, speakers from 90+ countries, open your world at #OOW19. http://oracl.info/OnkK50uJb3j
  • Share your feedback with #Gartner Peer Insights about @OracleServCloud & the first 15 published reviews come away with $25 Visa gift cards. Reviews must be submitted by July 30 http://ora.cl/jO6Wm #OSvC
  • #OracleCX @katrina_gosek and @bobbymeix speak at @CommerceNext in NYC! Learn more here: https://lnkd.in/dsMzUpt #CN2019 #digitalcommerce

Oracle CX in the News:

In The Philippines, Payoneer Helps Lift Rural Poor - Sasha Banks-Louie, Forbes, 7.9.19

  • Oracle Service Cloud helped Payoneer’s call center agents offer step-by-step instructions to help their customers set up automatic payments from a virtual retail marketplace.

Transform Your eCommerce Before You Need to: How WebContinental Competes in a Rapidly-Growing Market - Pedro Martini, Upshotstories, 6.27.19

  • After a careful analysis of the ecommerce landscape, and given the intention to expand operations outside the Brazilian market, WebContinental chose Oracle Commerce Cloud as their new platform.

Industry News:

Combine humans and bots for a winning customer service experience - Paul Selby, Customerthink, 7.10.19

  • Neither human agent nor chatbot is perfect on their own; each has benefits and shortcomings. Together, however, they offer a powerful customer service combination.

Man and machine: A dualism like Yin and Yang - Theindependentbd, 7.10.19

  • As AI moves beyond hype and becomes a worthwhile business asset, more and more companies know it’s a way to improve processes. But, rather than staff fearing for their jobs in this future, it’s an opportunity for them to upskill and help to get the best out of the technologies.
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Don’t miss taking advantage of the early bird pricing for Insight 2019, the annual event for Commerce Pros, the official Oracle Commerce User Group! Insight 2019 will be at the Hilton Austin in Austin, Texas from August 26-28, 2019 and is the only event dedicated to Oracle Commerce and Oracle Commerce Cloud. 

Join over 200 Oracle Commerce and Oracle Commerce Cloud customers, partners, product management, and other digital leaders in learning about the upcoming product roadmap, best practices, practical guidance, how-tos, innovations, and much more! 

Take advantage of over 45 sessions, pre-conference training, hands-on Oracle Commerce Cloud lab, and 20+ hours of networking. More than 25 sponsors and exhibitors will be featured on site. Five keynote sessions have been announced, including Katrina Gosek and Ian Davis from Oracle CX Product Strategy and Oracle Commerce Product Management.

Session topics include:

  • Motorola Talks Oracle Commerce Cloud and CPQ
  • Improving the B2B Experience Using Oracle Commerce Cloud
  • Personalization with Oracle Commerce Cloud
  • Preventing Ecommerce Payment Fraud
  • PWA: The Next Generation Interface After Headless
  • Customizing Oracle Commerce Cloud with Webhooks and Server-Side Extensions
  • Leveraging Oracle Content and Oracle Commerce Cloud Together to Drive Improved Customer experiences
  • The Secret to Using Oracle Commerce Cloud with Oracle CPQ, ERP, and Other Solutions
  • When and How to Integrate 3rd Party Cloud-Based Microservices with Oracle Commerce
  • Migrating from Oracle Commerce On-Premise to Oracle Commerce Cloud
  • How 100+ Leading Retailers Are Investing in Digital Commerce
  • And much more!

To make things easy for you, the team at Commerce Pros has created an Advance Programs that you can use to plan your conference — one for Oracle Commerce Cloud customers and one for Oracle Commerce On-Premise customers.

Register here before Early Bird rates expire at 11:59pmEST on Thursday, July 11!  Rates increase $300 on Friday, July 12. 

Bring 3 team members and receive a complimentary 2019 Commerce Pros membership and save 10% on registration fees!

NOTE: Hotel Cutoff at Hilton Austin is July 26: www.commercepros.org/insight/hotel

For more information or to utilize concierge registration, email jesse.howard@commercepros.org

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Over the last few years in helping companies roll out new commerce initiatives I’ve run into a conversation from some of my more technically advanced customers who tell me, “We want headless!” There’s been a lot of buzz in the market as well. But what does it mean to go headless? What are the advantages and the challenges?

This is the first of a series of articles where I’ll talk with experts and examine the pros and cons of a headless approach. My goal is to empower my fellow commerce professionals to make the right choice for their team and for their business.

First, let’s establish, what is Headless?

I’m not talking about the horseman from “Sleepy Hollow.” Headless, or Headless Commerce, uses a commerce platform without a customer-facing front end. It delivers functionality via APIs and then the “head” is run by another system, like a Content Management System or a native mobile application. This is only one flavor of headless.

Another option is a hybrid headless approach where you use your commerce platform to deliver web-based experiences and then use the APIs to enable new channels and experiences like augmented reality and IoT.

Technical Drivers of Headless

Technical teams are quite often overrun with requests for new features, performance improvements, and system stability requirements as well as technical debt. In turn, they’re usually working with a legacy, monolithic ecommerce platform that makes it hard to keep up with the needs of their business users. They see headless as a way to be more agile in how they handle their workload. When they see new technologies like React, they can pick their own front-end implementation to reduce time to deploy new features and acquire new skills and talent on their teams. They also see decoupling the functionality from the experience as a way to swap in new components more easily and with less integration.

We all know the pace at which technology is changing. What is fast and cool today is slow and dated tomorrow. Technology churn is something these teams are always juggling. The move to headless gives them the power to change up components of their experience without altering others. This way, they can retain their core ecommerce system with the history of promotions and data that they have used for their success.

Business Drivers of Headless

Two main needs drive the business-side of the headless discussion: agility and differentiation. The need for agility stems from constantly changing customer expectations and the need to quickly expand into emergent channels, like voice assistants, mobile applications and third-party sales channels. At the same time, customer experience is key, so most companies want to have a unique interactive experience that doesn’t look like every other commerce store.

The average business user doesn’t care how the technical team supports them to achieve these goals. They just need them to make them happen. But, they do care about having the tools to make changes on their own, quickly. Most business teams need to make these changes on their site in hours, days and weeks, not months or years. The traditional, monolithic platforms haven’t supported the speed necessary. In addition, most of the commerce business teams I talk to tell me business tooling is just as important as making the experience customized. If the tools they have are intuitive and easy to use, it makes their jobs easier and they can focus more on what to do, not how to do it.

Speed and Flexibility

Headless can be one way to get that result but it can also have its own drawbacks. It works well for teams that have a large development staff, or a partner on retainer to assist in the development of features and functions across their multiple systems, like the Commerce platform and the content management system (CMS).

Teams also need to cover all their bases. Quite often, you may realize too late that a key piece of functionality is missing or not connected. In headless environments, business teams often find themselves playing hopscotch through different interfaces to do the simplest of site updates and changes. To launch a product on their store, they need to; add pricing and product information into the core ecommerce platform, upload imagery to a Digital Asset Management system, and then publish via a third party tool for their CMS. This can severely slow down their productivity and make it difficult to train new team members.

How can you best use a headless architecture to truly improve your customer experience without a large development team or a mishmash of site management tools? We’ll discuss this over the next few articles where I’ll answer the following questions.

  • What is the architecture for a highly successful headless approach?
  • How can I easily add new channels to my system?
  • Is my team ready for headless?
  • What is the best approach to flexibility and speed in a modern commerce team?

Click to read "What is Headless Commerce?"

Click to Learn more about the Oracle Commerce Cloud

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Enjoy our weekly roundup of top news stories across the Customer Experience (CX) landscape.

Oracle CX Social Content:

  • One of the most important success factors in changing #CX is #customerservice, without which you'll never create long-term, profitable relationships that build success: http://ora.cl/vB2bj #OracleCX @rtarkoff

  • What is the true meaning of #CX and how it’s evolving? Here are takeaways from #ModernCX. Sign up to learn what's ahead for CX 2020! http://oracl.info/v7SO50uNWWU

  • Proud to announce @Oracle is named a Leader in the @Gartner_Inc June 2019 #MagicQuadrant for CRM Customer Engagement Center for its ability to execute and completeness of vision. http://ora.cl/X0US7

  • Learn how emerging technologies can enhance #CX and drive business benefits http://ora.cl/uu4QU #survey

  • With #custsuccess stories from all types of businesses-from all over the world - #OOW19 SF is the place to shape the future of your company. Register now to save $400: http://oracl.info/AorL50uAC2I

Oracle CX in the News:

Boosting Customer Satisfaction Through Predictive Service – Rob Tarkoff, Smartcustomerservice, 6.24.19

  • Oracle CX Rob Tarkoff shows how customer service helps to create long-term, profitable relationships that build success.

Industry News:

Digital Identity Is The Key To CX - Glenn Larson, Forbes, 6.21.19

  • Today 88% of businesses view CX as a competitive differentiator- customers are willing to pay more for a better experience, and often experience trumps both price and product.

3 key takeaways from the Forrester CX NYC 2019 Conference - Courtney Garcia, Smg, 6.27.19

  • Customers matter more than ever, and it’s our responsibility to understand what they value, what motivates them, and what inspires them.

Creating competitive advantage through CX  - Derek Bose, Bizcommunity, 6.28.19

  • Research firm International Data Corporation (IDC) predicts that at least 15% of a business’s standard CX decisions will be handled by algorithms by 2020.

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Enjoy our weekly roundup of top news stories across the Customer Experience (CX) landscape.

Oracle CX Social Content:

  • How emerging technologies such as #IOT, #ArtificialIntelligence, #chatbot & #AugmentedReality will affect #custloyalty & brand performance within the next five years: http://ora.cl/WF5Of via @forbes

  • Details on how @sportablescrbrd, a battery-powered, portable scoreboard company ups its game by investing in #CX Cloud technology: https://buff.ly/2IN7vXE

  • #Oracle Collaborates with top @Oracle PartnerNetwork Platinum Level Members to rethink customer #data platform market http://ora.cl/ml5Db @oraclepartners #CX

  • Don’t let time run out on the Early Bird discount to #OOW19. Register by July 6 and save $400: http://oracl.info/fCDm50uE6ns

  • CMOs are using technologies to gain insights from #data and create better #CX. The first step is to make sure the data is accurate. http://ora.cl/jE5sP

Oracle CX in the News:

Oracle Collaborates with Top Oracle PartnerNetwork Platinum Level Members to Rethink ... – Prnewswire, 6.17.19

  • To help organizations quickly and easily bring together customer data from across the entire organization, Oracle is collaborating with Accenture and Capgemini.

Industry News:

The Rise of Human Agents: AI-Powered Customer Service Automation - Brad Birnbaum, Forbes, 6.19.19

  • AI-driven automation plays a critical role in helping customer service agents and it’s predicted that the use of AI by customer service teams will increase by 143% next year.

Google Wants a Piece of the Ecommerce Marketplace – Blake Droesch, Emarketer, 6.19.19

  • Google's redesigned version of Google Shopping brings its online marketplace center stage.

Cloud Field Service Solution Market 2025 – Robin, Theinvestorstrategy, 6.18.19

  • Global Cloud Field Service Solution Market is expected to Huge growth with a during forecast period 2019 to 2025. Read the full report covering Cloud Field Service Solution Market from the bottom line.
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Listen to Westrock discuss their digital transformation triumphs as they transitioned into selling their products fully online!

Join us to learn how WestRock Company, one of the nation’s leading corrugated and paperboard manufacturers and distributors, transitioned their sales approach for their smaller clients from manual, very labor intensive processes like phone, fax, email, and field sales reps, to a much more compelling, automated, and personalized experience for each of their customers by introducing B2B online eCommerce.

Watch LIVE as our expert podcast panel discuss the business drivers that pushed WestRock to move into online eCommerce, the internal and external challenges associated with doing so, and ultimately the great value and benefit to both WestRock and its customers in making the leap… and see and hear all of this in just 30 minutes in a very concise and engaging audio/video broadcast!

Click here to register today!

Paul Zaher, VP eCommerce, WestRock 

Paul joined WestRock in 2016 and leads the company’s Digital Customer Experience initiative. In this role, he is responsible for delivering new digital solutions for customers and employees and changing the ways that WestRock engages with its customers. Prior to joining WestRock, Paul held leadership roles at Dunkin’ Brands and Limited Brands.

Jay Atkinson, Senior Principal B2B Product Strategist, Oracle Commerce

Jay has been in eCommerce for over 18 years. He has spent time working as a retailer, consultant and product manager, doing design, development and strategy. Over the course of his career he’s worked with Sony, Ticketmaster, CVS, Home Depot, Costco, Office Depot and many others. His roots are in UX & Design, however, he is just as comfortable talking about code and servers. 

Mike Graziano, SVP Sales, Marketing & Client Services, TAISTech

Mike (“Graz”) joined TAISTech in 2012 where he leads the Sales, Marketing, and Partnership activities for the company. Major account wins under his tenure at TAISTech include WestRock, Lululemon, Vitamin Shoppe, CORT, Rue 21, Things Remembered and Visionworks. His eCommerce roots date to 1997, and prior to joining TAISTech, he held leadership positions at several leading digital agencies.

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Oracle recently surveyed 477 senior CX executives form across the globe to discuss their firm’s customer experience capabilities and business results.  We wanted to understand the correlation between CX performance and the maturation of emerging technologies and validate the extent to which adopters are driving business success. Further, we also wanted to understand what distinguishes the leaders who are aligned with CX best practices.  We published these insights in a brand new report titled The Impact of Emerging Technology on CX Excellence: Insights from Oracle’s Global Survey of Customer Experience Visionaries.

The "emerging technologies" we discuss are artificial intelligence and machine learning, digital assistants and chatbots, augmented reality and virtual reality, and the Internet of Things.    

What Does it all Mean?

The report discusses a broad spectrum of topics related to the use of emerging technologies for CX.  It's clear that brands are adopting these technologies at a rapid pace. You can use this report to better understand how and why organizations are applying these technologies to improve the customer experience and to create urgency within your organization to transform its CX technology portfolio, and learn from your peers how to maximize your success.

If you’re interested in learning how Organizations are turning to emerging technologies to deliver the innovative, distinctive, and differentiated brand experiences that modern customers demand, download The Impact of Emerging Technology on CX Excellence – Insights from Oracle’s Global Survey of Customer Experience Visionaries, today.
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Technology continues to shape the way we shop and conduct business. For consumers, the expectation is that the way we transact will keep pace with innovation, and remain seamless behind the scenes. In this Q&A, I spoke with with Oracle Commerce Cloud partner, WorldPay, Spiros Theodossiou, SVP of Product. He shares insights into some of the changes underway in the payment industry and predicts what the future of payments may hold.

1. I think there is often a perception that payments just happen. You take out your debit or credit card, swipe or enter in the details, and press ‘enter.’ I imagine that it’s a bit more complex than this.

Technology and payment methods are rapidly changing the commerce and payments landscape. If you accept payments, it can be more than a little bewildering and downright intimidating at times to try and keep up with everything you need to know.

Consumers often don’t realize the number of steps and separate entities involved in their credit or debit card transactions. We just pull out our cards, things somehow magically work, and we continue on our way. The industry has done a good job of masking this behind-the-scenes complexity and making it increasingly seamless – but not perfect – to consumers and for businesses.

2. I’ve read that the average authorization rate for card-not-present transactions, or eCommerce, is lower than for card-present, or point-of-sale transactions. In your experience, what does the cost of declined transactions look like to businesses you work with? Also, what are Worldpay and others in the payment industry doing to improve acceptance rates?

According to a report from Javelin Strategy and Research, false-positive declines impacted nearly 7% of all consumers – just in the U.S. alone last year. The large number of issuers and vague declined reasons can make authorization strategies difficult. Unfortunately, this means that many organizations are leaving lots of money on the table.

Increasingly, artificial intelligence (AI) and machine learning (ML) are being incorporated into payment processing solutions to present information in the right formats to help organizations maximize approvals on their initial authorizations – thereby increasing their approval rates and getting a corresponding lift in revenue.

3. The annual Worldpay Global Payments Report highlights the increasing number of payment methods across the globe, varying from region to region and often country to country.  What are some examples of new and exciting payment methods for merchants?  And given that the common method of payment can vary from country to country, what does this mean for businesses that are thinking about global expansion? 

Our most recent Global Payments Report, published in Q4 of 2018, reveals a complex payments landscape brimming with diversity. Alternative payment methods are rising to meet the needs of consumers online, led by digital wallets and bank transfers. Though its long reign of supremacy is nearing its end, cash remains the leading payment method at the point of sale. This multifaceted landscape opens doors for organizations to increase consumer satisfaction by offering the right mix of payment options that are most appropriate for a given geographic region.

Digital wallets have vaulted to the forefront of payments by offering seamless convenience. We expect continued growth in China and a surge of adoption in North America to propel digital wallets to become the leading eCommerce payment method globally by 2022.

Bank transfers are also growing in popularity as an online payment method. Factors contributing to the growth of bank transfers include convenience for consumers, lower costs of acceptance and fewer chargebacks for merchants. There is also a regulatory push from PSD2/Open Banking mandates in Europe, and a rise of banked populations in emerging markets.

Being aware of payment preferences and differences in consumer behavior across geographies is key to anyone contemplating global expansion.

4. Do you see the world going cashless? There are businesses going this route, but there are also real societal concerns, prompting some cities to ensure businesses offer cash options.

In some parts of the world – China's major cities, for example – mobile payments are already the preferred way to pay for just about everything as mobile phones and QR codes have largely replaced cash, and card schemes aren’t accepted by many smaller retailers. But, will using cash as a payment option ever entirely go away everywhere on the planet? It’s hard to see that happening in the short term, and perhaps even in the long term. But, who knows? That’s what makes this industry so fascinating.

5. If you had three tips for companies thinking about their payment strategies for 2019, what would those be?  

Regarding payment strategies, the three primary areas of focus can probably best be summarized by what we like to call the three “Rs” – reach, revenue, and responsiveness.

  1. Reach – By introducing more payment options and acceptance currencies, organizations can engage more customers, enter new markets and expand their global footprint.
  2. Revenue – Companies need to leverage data more effectively to boost revenue. Data can be used to increase card authorizations and reduce the cost of acceptance.
  3. Responsiveness – Businesses can stay ahead of the curve with effective payment analytics and expert advice, thus becoming increasingly proactive and responsive to their customers’ needs and market shifts.

6. Lastly, what do we have to look forward to over the next 5 years in how we shop and make purchases?

What was made abundantly clear from the research as part of our 2018 Global Payments Report is that in the next half-decade the ongoing adoption of digital wallets around the globe, such as WeChat Pay and Alipay in China, will be quite pervasive.

We also see a corresponding rise in mobile commerce, or mCommerce, as merchants need to offer customers compelling mobile experiences. Research studies found that consumers are seeking a more luxurious and personalized service on their mobile devices, and are willing to pay a premium for it. What’s interesting is that this preference was strongest in emerging markets. For example, 62% of consumers in China indicated they would pay for a “five-star” service compared to just 37% in the United States.

All of this means that understanding consumer behavior in different parts of the world, staying on top of payment landscape shifts, and offering localized, and even customized, payment experiences are important factors in the success of any global eCommerce business.

Spiros Theodossiou is the SVP of Product at Worldpay. Spiros is responsible for defining and executing on the product vision and roadmap, aligning to the company goal of ‘advancing the ways the world pays.’ Spiros and the Worldpay team are focused on helping businesses grow by breaking through borders to simplify payments.

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