International Business Machines Corporation IBM stated that it is on track with the development of enhanced solutions to help retail clients accelerate their digital transformation efforts. The initiative was unveiled by the company at the National Retail Federation's 2020 Big Show.
The solutions for such digital transformation will be developed on the IBM Sterling Supply Chain platform as well as in collaboration with other companies like Salesforce CRM, Publicis Sapient, project44 and Flooid.
The digital transformation and growth initiatives will enable retail companies to solve challenges related to returns, omnichannel as well as logistics swiftly and thereby improve customer experience.
Efforts to Boost Digital Transformation
A hassle free shopping experience is being preferred by a growing proportion of retail customers, per a study conducted by the IBM Institute for Business Value in association with the National Retail Federation.
To meet such an objective, IBM along with other providers aim to introduce improvements in front and back office omnichannel connectivity. Further, optimizing and orchestrating returns is likely to drive greater logistics insights and fulfillment, which will enable retailers to remove needless friction.
Accordingly, IBM has undertaken the development of a Connector with the support of MuleSoft. The connector will integrate the IBM Sterling Supply Chain Suite with Salesforce Commerce Cloud, Service Cloud and Marketing Cloud.
Publicis Sapient will extend its relationship with IBM by providing supply chain solutions using the IBM Sterling Supply Chain platform. Further, project44 plans to integrate its extensive and growing global carrier network with the IBM Sterling Supply Chain Suite. The firm will aid clients to obtain accurate shipment ETAs and quickly respond to relevant supply chain events.
Additionally, Flooid will now work with IBM to offer a seamless omnichannel experience across store and online sales channels.
International Business Machines Corporation Price and Consensus
International Business Machines Corporation price-consensus-chart | International Business Machines Corporation Quote
Capitalizing on Retailers Digital Transformation Effort
Efforts to provide retailers with enhanced digital solutions for meeting supply chain needs effectively are likely to boost customer engagement and drive profitability. Markedly, retail clients are striving to modernize supply chain on top of open platforms so that they are able to harness technologies such as AI, blockchain, IoT and hybrid cloud.
Retailers shift away from legacy applications to scalable, enterprise-tuned platforms that hold scope for immense growth for software solution providers. Moreover, this will boost the adoption of IBM’s analytics, cloud computing and security solution across enterprises.
Apart from IBM, other digital solution providers such as Oracle ORCL and Microsoft MSFT have recently initiated a slew of services for their retail clientele.
Wrapping up, IBM’s endeavors to boost its clientele and efforts to enhance offerings in the cloud computing space are expected to improve the company’s financial performance in the upcoming days.
Zacks Rank & Key Pick
Currently, IBM carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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