IT major Infosys on Monday launched its sales product TradeEdge and said it is on path to achieve the target of 30 per cent revenues from such platforms, consulting and services.
“We are on our path, and certainly moving in that direction,” Infosys Chairman NR Narayana Murthy told reporters here at the launch of TradeEdge, an insights-driven sales platform, which would provide visibility to global brands across the demand chain from distributors to consumers. He said instruments like TradeEdge were very important for the company to achieve the about 30 per cent target.
“It is very very critical for us to say when will we reach that target of 30 per cent that is talked about, but these are the instruments that will help us move in that direction... So in that context TradeEdge is very very important,” he said. Asked about any acquisition plans, Murthy said: “If the returns are okay, certainly we can look at it. Why notIJ But it is for him (Sanjay Purohit, Infosys Vice-President and Global Head-Products, Platforms and Solution), absolutely.”
Earlier unveiling the product, he said the emerging economies are a complex mix of traditional and modern retail systems and brands have to address unique requirements of both these channels. “The emerging market presents a significant opportunity for these new ideas for global brands. However, winning in these markets requires companies to change their mindset, be innovative and adopt the institutional voice,” he said.
Talking about TradeEdge, Murthy said it will provide brands one of the most affordable ways to expand reach in the emerging markets. The new platform will deliver insights that help brands accurately sense and fulfil consumer demand, while significantly improving sales and operational performance, he said. Murthy said the new platform will have a range of innovative features that empower brands to enhance collaboration by allowing companies and distributors to exchange accurate and timely information related to sales, inventory and products.
He said it would also expand reach by onboarding distributors rapidly in weeks rather than months, via a Cloud-based ERP system, while rolling out best practices across markets within hours. “For global brands, the next billion consumers will come from the emerging markets. To accelerate profitable growth, brands need to know these markets better, reach customers faster and do so at lower costs,” Sanjay Purohit said.
Designed from the ground up for the emerging markets, Infosys TradeEdge is already helping 10 global brands gain visibility into sales opportunities of more than $20 billion in over 70 countries, he said. Murthy also said TradeEdge will improve product placement and maximise return on promotions through visual merchandising by providing insights into ‘share of shelf’ at a fraction of audit costs.