B2B and B2C digital commerce software provider PhaseZero announced its CxAnalytics solution on Tuesday (Jan. 18), designed to help business managers proactively manage sales and market growth.
This new addition is part of the company’s wider Software-as-a-Service (SaaS) platform CxCommerce.
Per the release, these solutions allow businesses to make use of role-based intelligence and manage things like pricing, inventory and availability, along with stockout scenarios, shopping cart abandonments, order conversion and user search.
“Until now, data science, AI and machine learning capabilities were affordable and accessible only to the largest enterprises,” PhaseZero founder and CEO Ram ChandraSekar said in the release.
“By integrating industry leading AI and data science technologies with prebuilt connectors to all relevant data sources, CxAnalytics enterprise data and AI foundation makes advanced analytics capabilities accessible and affordable for our customers in the automotive and industrial manufacturing ecosystem,” ChandraSekar continued.
The release says the platform will come with user-friendly data access for various people like business users, developers and marketing agencies, and will include artificial intelligence (AI) and machine learning (ML)-driven applications.
There will also be configurable data streaming, cloud-based solutions and a prebuilt data connector portfolio to link with part catalog systems and other things.
PYMNTS wrote that the pandemic has seen B2B firms moving to eCommerce channels and marketplaces, as have other companies, including B2C firms. Payments and processing is also heading that way as businesses work to keep themselves afloat in a changing world.
B2B buyers, especially since the pandemic, have reported a preference for buying online and interacting that way with business partners.
According to the Global B2B Payments Playbook, a PYMNTS and Worldpay B2B Payments collaboration, 66% of B2B company representatives think that digital sales are more important to customers than usual sales interactions.
Forty-eight percent of those representatives also said it was true of the period before the pandemic, and the report notes that B2B firms have to catch up on user-friendliness and making their offerings easy to navigate.
Related: The Global B2B Payments Playbook
Read More: Software Maker PhaseZero Debuts CxAnalytics