Increasing competition and decreasing differentiation forces enterprises to innovate products and offers
Enterprises today are moving away from product/ price centric business models and are adopting customer centricity. Acquiring customers and orchestrating experience to enhance their lifetime value is number one priority for the enterprises. With increasing competition and blurring differentiation, enterprises need to come up with quick and innovative products and pricing.
In the current scenarios, due to absence of a centralised repository to access product information, companies face a multitude of challenges. Due to siloed existence of customer behaviour and network and product information, enterprises are not able to cross-sell or up-sell in a context-aware manner. The lack of centralised product catalogue with historic view leads to creating same or similar products and offers into the market which might have failed in the past.
Pre-integrated product catalogue enables enterprises to manage products and offers in a centralised way
Xelerate’s product catalogue is a unique solution which enables enterprises to manage all business products and offers in a centralized fashion and streamline product management. Service Oriented Architecture enables fast integration and interfacing with enterprise-wide ecosystem to provide a single, master catalogue. As it co-exists with policy, pricing and billing systems on the same underlying platform, Xelerate’s product catalogue enables creation of products on the fly based on context and customer preferences, which can be priced and billed without any additional effort.
A centralised product catalogue enables multiple product owners to collaborate and manage product data while simultaneously serving multiple sales and subscription channels with single view of products. With the availability of historic data and single view, product and price variations can be created and managed without duplication. It supports complex hierarchy view which makes product listings very efficient. Products can also be bundled in an innovative way which suits the customer requirements better. With the re-usability of product and service definitions and flexibility to configure products and packages, the time-to- market reduces to hours thus helping stay relevant and ahead of the competition in the market. Some of the business benefits of the integrated product catalogue are:
- Reduce time-to-market for new products and offers to hours
- Improve customer life-time value through enhanced experience and offer orchestration
- Reduce total cost of product development and maintenance
- Successful marketing and promotional campaigns due to past and current product performance views
- Define right product at right price as the business demands
- One point reference for your entire OSS/BSS system stack