International Business Machines Corporation IBM announced that IBM Commerce has been chosen by Russian investment banking firm BCS Financial Group in collaboration with its business partner, GlowByte Consulting for enhancing its marketing capabilities.
IBM Commerce is a range of omni-channel commerce and e-Commerce solutions designed to improve the businesses using analytics. IBM offerings have been helping BCS Financial develop more targeted and personalized marketing campaigns using customer related insights. The solution leverages customer data to obtain valuable information regarding their preferences and serve them accordingly. This approach to marketing will lead its clients to most responsive channels thereby minimizing costs, maximizing their ROI and generating additional revenues for the company.
In the past six months of using IBM Commerce, BCS Financial has already witnessed a 20% increase in cross sales in its online trading, brokerage and investment strategy consulting services. Furthermore, the company’s attrition rates have decreased 0.5%. Its response rates have also increased, thereby translating into more sales.
Business analytics and big data are key long-term growth areas for IBM, in addition to cloud computing, mobile, security and other growth markets. In the last-reported quarter, revenues from business analytics improved 7% year over year to about $17 billion. The company expects to generate as much as $40 billion in annual revenues from the above-mentioned growth businesses by 2018.
IBM has been focused on developing solutions in these areas in order to transform itself into an advanced software and services company, diversifying away from the existing hardware and traditional software offerings.
Currently, IBM has a Zacks Rank #3 (Hold). Better-ranked stocks in the technology sector include Top Image Systems Ltd. TISA, Aspen Technology, Inc. AZPN and DST Systems Inc. DST. All these stocks sport a Zacks Rank #1 (Strong Buy).
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