Cognizant Launches Stores 360 to Transform Retail Operations in Collaboration with ServiceNow

14. Januar 2025 | Aktuell Allgemein
Cognizant Launches Stores 360 to Transform Retail Operations in Collaboration with ServiceNow.
Cognizant Launches Stores 360 to Transform Retail Operations in Collaboration with ServiceNow.

Cognizant (NASDAQ:CTSH) introduces Stores 360, a comprehensive retail solution designed to streamline store operations, boost employee productivity, and enhance customer experiences. Developed in collaboration with ServiceNow, it leverages the Cognizant Neuro® AI platform and generative AI-powered Now Assist solution to support every touchpoint in the retail value chain, fostering frictionless and efficient operations.

Retail has rapidly evolved with shifts to digital channels, data-driven customer experience transformations, and rising supply chain costs, demanding new operating models. According to McKinsey & Co., retailers adopting advanced technology see approximately 2.2x greater returns to shareholders and 40-45% higher customer engagement and brand awareness. Cognizant’s Stores 360 aims to be a pivotal enabler of these benefits.

This collaboration highlights the need for retail innovation and the transformative power of integrated AI in enhancing in-store experiences. Scalable within four weeks, Stores 360 can reduce the time to open new stores by 10-20%, cut operating expenses by 30-40%, and ensure up to 98% uptime for store systems, reducing truck rolls by up to 10%.

„Stores 360 has the potential to revolutionize retail as consumers increasingly seek immersive experiences,“ said Sushant Warikoo, Head of Cognizant’s Retail Business Unit. „Our partnership with ServiceNow reinforces our commitment to providing innovative solutions that yield substantial results, boost productivity, and reduce costs.“

The solution focuses on a store-centric associate experience, automation, and workflows for cost efficiency and revenue growth. It includes three sub-offerings: new store opening, store management, and store asset management, elevating operations and enhancing both employee productivity and customer experience through integrated, automated, predictive, and AI capabilities.

„Creating an exceptional in-store experience is vital, with most retail revenue still from brick-and-mortar stores,“ added Rita Chung, Head of Retail Product at ServiceNow. „Our ongoing partnership with Cognizant aims to address major retail challenges with designed-for-retail solutions, combining Cognizant’s Neuro AI for enhanced customer experiences and faster results.“

Stores 360 integrates retail ecosystems, connecting associates, managers, customers, HQ employees, and field technicians, ensuring consistent, connected experiences across channels. Cognizant Neuro AI supports this by recommending new store locations based on data analysis, including demographics and buying behaviors. The solution also utilizes Cognizant IoT for real-time insights and efficient field service management.

„Modernizing store operations is a key investment despite economic challenges. AI- and ML-integrated solutions will increasingly predict demand, optimize pricing, and personalize recommendations,“ said Abhilasha Sharma, Practice Director, Everest Group. „Cognizant’s robust capabilities in store operations, data, AI, and analytics, paired with strategic industry partnerships, position it to capitalize on this trend.“


Tags: #Cognizant #Collaboration #Retail Operations #ServiceNow #Stores 360 #Transformation