Switzerland based Hybris Software, which provides enterprise multichannel e-commerce and product content management software, is trying to strengthen its presence in India. As per one of our sources, the e-commerce software company is eyeing at the biggies in the retail industry to be a part of their going online strategy.
This subsidiary of SAP, currently has some technology partners in India, like Accenture, Arvato, Wipro, Embitel, Cognizant, Sopra and so on. It was found in 1997 by Carsten Thoma, Moritz Zimmermann and Klaas Hermanns, and internationally it is powering the omni-channel setup of retailers and brands like Levi’s, Target, Ted Baker, Triumph, Samsung etc.
Hybris had raised an undisclosed amount of funding in 2011 from Huntsman Gay Global Capital followed by a USD 30 million round in first quarter of 2013 from Meritech Capital Partners and Greylock Israel). Hybris was also expected to file an IPO in 2014, but was acquired much before by SAP in June 2013.
SAP had made this acquisition to combine its enterprise solutions with the omni-channel commerce solutions of Hybris to provide enterprises with the enhanced data and tools necessary to optimize margins and customer loyalty. And since Hybris is known for its omni-channel and multi-channel e-commerce products, it can be said that the indigenous e-commerce enablers will have to stiffen up their game.
Omni-channel retail is gradually catching up in the country. According to a Forrester report, 75% of the time, customers will move to another communication channel if they are unsatisfied with an earlier contact method. Today’s customers don’t just want to be able to switch channels, they want to be able to switch channels and continue the same conversation with the brand.
As per Sucharita Mulpuru, VP and Principal Analyst, Forrester, Omni means different things in different markets. In India, it means “Everywhere Commerce” which includes Mobile, Social, Marketplace, Cross Border and Payments flexibility. Below is a video of her talking about “Omni-channel commerce: The surrender of legacy retail to the everywhere consumer ”