Technology and the growth of e-commerce have given organizations opportunities to expand their businesses to newer markets. However, the vast use of the internet by the business houses, corporate and the consumers have also opened up avenues for the growth of grey market sales and counterfeit items. The frequent technological evolutions, have paved way for IT sector and the organizations to come up with collaborative proactive solutions to tackle such issues.
Online fraud protection solutions helps to proactively reduce the impact of counterfeits and grey market sales. Such protective solutions which are generally offered to organizations as software-as-a-service (SaaS) helps to monitor various global sites prone to grey market and counterfeiting and facilitates effective enterprise risk management.
However, with the dangers of counterfeiting lurking large over the internet, its effect tends to deeply impact the brand name and sales revenue. The proactive actions taken by the organizations against such corruptive mechanism should also include sale intelligence that would help the organizations from unauthorized distribution of their products and would safeguard the brand and the sales channels.
Sales Intelligence though has been around for a long time, of late it has been recognized as a solution for preventing internet fraud. However, it needs to be understood that sales intelligence cannot replace the human factor involved. With the visibility into the marketing and channel management of global markets, sales intelligence facilitates reduction in lost revenues and margins, increases loyalty levels for the distributor channels and provides a potential source for contacts.
Enterprises however experience a value-add in sales with sales intelligence. From creating transparency with large amounts of data related to prospects, it has paved the way for improved performance of the sales cycle and targeting segmented populations for greater returns. However, as the customers move online, the businesses follow, paving way for grey market and counterfeit products affecting the e-commerce sector.
Sales intelligence at the enterprise level though not very advanced, works to prevent internet fraud through factors such as channel intelligence, market intelligence and warranty intelligence. The enterprise channel intelligence provides the enterprise with real-time visibility into the distribution channels across the global open market.
This facilitates for monitoring of grey market activities, contract violations and inappropriate discounts. The market intelligence provides an insight into the market trends and competitive price benchmarking and new product launches. The enterprise warranty intelligence, works with the real-time data collected from global markets in relation to the customer service management.
Thus Sales intelligence methods pave way for regular monitoring of the global market and helps to check on replacement frauds and illegal contract sales and also facilitates enterprises to take necessary action to safeguard against equipment license, software abuse or any other form of internet fraud.
By Andrew Brown