Syenap, a leading analytics solution provider for customer experience management, is the only South African company to be selected as one of the ‘20 Most Promising CEM Solution Providers 2017’ by CIOReview, a global magazine for information officers that bridges the gap between enterprise IT vendors and buyers.
Johannesburg-based Syenap, which is described by CIOReview as “transforming the way businesses connect with customers by providing live actionable intelligence”, is no stranger to global attention for its innovative approach to CEM. In 2016, the company was a finalist in the inaugural global Accenture Consumer Innovation Awards, which recognise early stage start-up businesses that play a major role in improving the way people shop and engage with brands; and it was selected for RISE’s ALPHA programme where it participated in the PITCH startup competition.
Syenap’s CEO, Elad Segev, says the recognition by an internationally-respected and industry-relevant publication is a proud achievement for the company. “Syenap has always been wholly focused on finding workable solutions to CEM, incorporating user-friendly technology and highly innovative and strategic ideas to deliver results for our clients.”
Syenap was established in 2013 when team members who were involved in marketing interventions in retail stores became concerned about the lack of hard data to back up marketing decisions. Adds Segev, “Traditional sources of data were incomplete and reactive, and there was little or no information about customer behaviour in general. So we began investigating methods and systems to measure and analyse customer behaviour, enabling data-based decisions in stores.”
Syenap’s customer analytics empowers their clients, who include shopping malls such as the Liberty Two Degree’s portfolio of Sandton City, Nelson Mandela Square, Eastgate and Midlands Mall, retailers, banks, and casinos, to extract efficiencies and adapt their business to drastically improve customer service and success. International clients include the likes of Telefónica in Uruguay, Argentina and Peru, one of the largest private telecommunications companies in the world; and Carrefour, for whom Syenap achieved consistent service, meeting the company’s KPI of a three minute wait time while reducing the staff complement by 32%.
The system includes a technology-agnostic platform that collects data from various sources such as in-store videos and data feeds, which are then integrated and analysed to give customers value-adding insights into action that can be taken. Says Kerry Nel, Syenap’s Chief Operating Officer, “The true strength and value of our system is delivering real-time analytics to our clients. Our platform automatically understands, predicts and measures customer behaviour by analysing their path to purchase, including all their deviations in the store, because identifying and understanding customer patterns within retail stores and anticipating trends in their movement is the most crucial factor to strategic planning and the ongoing success of any retail business.”
CIOReview’s overview of Syenap states, “The company brings the power of real-time analytics to retailers’ fingertips with powerful tools that can record and scrutinize the data, including details like the number of shoppers frequently visiting not only the stores but also certain areas within the store, and their movement and duration of stay in the store. Pair these tools with Syenap’s underlying analytics platform, and retailers have clear actionable insights into sales patterns and customer behaviour in brick-and-mortar stores that can drive sales and boost revenue.”
Syenap says their technology will increase conversion rates, reduce operational costs, maximise customer satisfaction, deliver consistent customer experiences, and increase efficiencies. Their services and operational tools include customer entry counting, customer tracking, family groups vs individual shoppers, trend analysis, strategy alignment and measurement, comparative analytics, location specific insights, simulation, integration, real-time alerts and feedback, queue monitoring and management as well as bespoke analytics services.
The other most promising CEM solution providers for 2017 were Amdocs, Avaya, Brite:Bill, Clarabridge, Clicktale, CMC, FreshLime, Genesys, Hinduja Global Solutions, inQuba, Medallia, Memberson, NOW Marketing Group, OnCue, Qualtrics, Satori Interactive, Thanx, Touchpoint Group, and Zendesk.