Manthan Systems, a global leader in the retail Business Intelligence and Analytics space, today announced its selection by the Infocomm Development Authority of Singapore (IDA), a Singapore Statutory Board, to participate in its innovative data and analytics program for the retail and wholesale sector. Manthan beat numerous global solution-providers in a highly competitive call-for-collaboration to emerge as one of the selected vendors that will offer comprehensive customer analytics assistance via a shared services platform to help retailers streamline performance and improve bottom-line.
Data and analytics is a key focus area for IDA and take an integrated approach in catalysing the growth and competitiveness of key economic sectors in Singapore through greater adoption of data and analytics.
IDA’s project is a pioneering model of public-private partnership and a unique government led initiative to improve operational efficiencies and enhance revenue growth across various industry verticals. Manthan will begin the project by implementing its game-changing Customer Analytics (CA) suite on a Software-As-A-Service (SaaS)-based model at leading Singapore retail organizations – NTUC Fairprice, NTUC Unity Healthcare and CK Tang, and Singapore’s largest multi-merchant loyalty program provider NTUC Link.
Manthan’s Customer Analytics solution finally presents a means by which retailers can connect with their customers to explore key parameters such as customer loyalty, sales transaction and stores’ data to gain critical insights and spot customer trends and opportunities. With these insights, leading retailers can aim to improve promotion effectiveness, deploy targeted campaigning, optimize the mix of marketing spends, drive customer retention and increase loyalty – all through a single interface. With its focus on customer insights, the solution has a track record of increasing retail customer response rates by 2 to 5% and reducing customer churn by 8 to 12%.
Says Mr. Atul Jalan, CEO, Manthan Systems; “Manthan already has a notable presence in Singapore with our solution in use at one of the country’s leading electronics retailers – Courts. But the IDA project opens up the market and provides a tremendous boost to our growth plans in the region.”
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Besides the solution implementation at leading retail organizations, Manthan is taking steps towards the setting up a world class Center of Excellence (COE) in Singapore.
“Manthan’s proposed COE will comprise of senior professionals/experts from across the world in the fields of retail, technology, statistics and marketing sciences. Our vision is to leverage these efforts to make Singapore a global analytics hub,” says Jalan.