CommerceIQ to help consumer brands to win in e-commerce
Hyderabad: CommerceIQ, an ecommerce management platform, leveraging machine learning and analytics to optimise the e-commerce channel across supply chain, marketing and sales operations, is looking to solve the end-to-end shopper journey for consumer brands through automation.
The company wants to help consumer brands understand the shopper intent better, know what customers want and understand demand patterns by providing consumer insights/demand forecasts as well as help improve the supply chain.
Prasun Kumar, VP-Engineering and Head of India Operations, CommerceIQ, told Telangana Today, “We want to help consumer brands win in e-commerce by tapping several platforms. Our product helps our clients to be visible, available (helping in supply chain and forecasting the demand) and purchasable. We also help these brands in improving advertising efficiency. We currently cater to eight geographies including the US, Canada, India and certain markets in Europe.”
Expansion plans
The US is the biggest market globally at present, but the company which has launched operations in India recently is also seeing good traction. The company sees scope to further expand presence in the APAC region and the US.
The company plans to be there in the entire shopper journey from discovery to purchase of products, by making consumer brands optimal on all e-commerce channels.
CommerceIQ has been doubling both revenues and team strength year-on-year. The company has about 150 people in India constituting engineering, data sciences, analytics and customer support, while the global team is about 250. Outside India, the company has operations in Seattle, California and New York.
Driven by technology
He informed, the company plans to double headcount in India and the US in the next one year. India alone would see its headcount touching 250 with a focus on engineering, data sciences (AI and ML capabilities) and natural language processing (AI-driven).
“We bring different sources of data (supply chain, sales, inventory and advertising) together to create a single source for decision making for e-commerce. From data to decisions to actions, we provide algorithms, insights and machine learning through our suite. We enable automated actions using data science and machine learning capabilities,” Kumar explained.
The company is also monitoring opportunities to help offline retailers strengthen e-commerce presence after a year or two.
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