- Order Management
- Loyalty Program
- Customer Accounts
- Email Marketing
Global Identity Verification and Fraud Prevention
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Ekata, a Mastercard company, provides businesses with the best practices in identity verification and fraud prevention. Leveraging the Identity Engine, a state-of-the-art data science and machine learning platform, businesses are able to safely and accurately verify customer identities while maintaining ... Read More
The process of keeping track of clients' orders and managing the actions required in completing them is known as order management. Accepting the order, picking, packing, and shipping the things indicated in the order, and lastly tracking them until they are delivered are all part of the process. After a customer places an order and pays for it, the order management procedure begins. The order information is sent to the inventory department of the store, where warehouse staff handles the picking, packing, and shipping. The process concludes with the store contacting the consumer to see if they were satisfied with their purchase.
Retailers and other businesses sponsor loyalty programs that offer rewards, discounts, and other unique incentives to recruit and keep customers. They're made to encourage repeat business by rewarding customers for sticking with a retailer or brand (hence the name). The larger the benefits, the more frequently a customer patronizes the merchant—and the more they spend. Loyalty programs are significant for high-volume businesses that rely on repeat business. Because it costs more to recruit a new consumer than it does to sell to a current one, the prospect of building a loyal following is critical to adding value. These programs can foster true brand loyalty when interwoven into the customer's daily routine.
A Customer Account is a single, centralized location where you can manage all of your customers' billing information, including company and contact information, payment terms, and preferred payment methods. Customer accounts are used to keep track of all the essential details regarding the organizations and consumers you're billing, such as subscriptions and amendments, invoices, payments, and adjustments. Customer accounts can help you promote repeat purchases and develop a stronger relationship with your website users. Visitors can create accounts on your site with this option enabled, securely saving payment methods, delivery addresses, shopping carts, and online order information. Consumer accounts can also be merged into a single report that shows which consumers are past due and by how much.
Email marketing is a type of marketing that informs your customers via email list of new products, discounts, and other services. It can also be a pitch to educate audience on your brand's worth or keep them engaged in between transactions. Anything in between is also possible. It is employed in the contact management business since it can assist you in informing your customers about new products or offers by incorporating it into your marketing automation efforts. Through various forms of marketing emails, it can also play a key role in your marketing strategy by generating leads, raising brand awareness, creating connections, and keeping customers engaged in between transactions.
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Ekata, a Mastercard company, provides businesses with the best practices in identity verification and fraud prevention. Leveraging the Identity Engine, a state-of-the-art data science and machine learning platform, businesses are able to safely and accurately verify customer identities while maintaining privacy. The robust contained within Ekata assists businesses in making informed decisions and staying one step ahead of likely fraud. Streamline customer experiences while protecting customers from fraud; get started with Ekata today.
Disclaimer: This research has been collated from a variety of authoritative sources. We welcome your feedback at [email protected].
Researched by Rajat Gupta