16 June 2015
Cognizant Partners NTUC FairPrice to Digitally Transform its Business and Deliver Seamless Multi-Channel Shopping Experience
SINGAPORE—June 16, 2015—Cognizant (NASDAQ: CTSH) today announced that it has partnered NTUC FairPrice (FairPrice), a major supermarket retailer in Singapore, to digitally transform its business and provide customers with a seamless multi-channel shopping experience.
By bringing together its consulting, industry and technology expertise, Cognizant reengineered FairPrice’s business processes, and implemented a digital e-commerce platform for the multi-format retailer to provide integrated, consistent and personalised customer service across multiple touch points, enhancing customer satisfaction, loyalty and brand perception.
The digital transformation programme has also enabled FairPrice to improve real-time product and inventory visibility, make retail management more efficient, and gain a better understanding of customer preferences and purchase history. As a result of cross-channel integration, FairPrice has been able to roll out innovative services for shoppers, including its “Click&Collect” online delivery service—the option to buy online and pick up the purchase from a store, a first in Singapore.
With superior insights into customer and staff behaviour, FairPrice can further strengthen its supply chain, site and store operations, marketing, and merchandising to drive growth and differentiation. Cognizant is also creating a mobile channel for FairPrice to engage better with its existing customers and attract new ones.
“Mobile and online retail is crucial to addressing heightened expectations of today’s digitally-enabled shoppers, and digital technology has enormous potential to enhance their shopping experience,” said Seah Kian Peng, CEO, NTUC FairPrice. “This digital transformation programme underscores our commitment to our customers and represents a strategic advantage in that we can now leverage inventory across multiple locations and streamline fulfilment processes to not just delight our customers, but also increase sales and reduce operational costs. Cognizant’s experience and capabilities have complemented our digital commerce vision and helped to reinforce our reputation as a retailer with a heart.”
“A unified multi-channel customer experience is increasingly a brand differentiator in the world of retail,” said Jayajyoti Sengupta, Vice President and Head of APAC, Cognizant. “This digital initiative is a trend-setter in the region for customer-focused transformation. A single view of the customer, sales and inventory will enable FairPrice to rise to the needs of the next generation of shoppers and define innovative models. We are pleased to have helped FairPrice execute on its digital commerce strategy and utilise multi-channel retailing to drive customer engagement, competitive advantage, market leadership, and growth.”