Trust matters: Benefits of a customer data cloud you may not have considered
The benefits of a customer data cloud include managing digital identities, tracking consent, authentication, and authorization.
Recent research turned up some interesting results: The number-one reason consumers abandon a brand is not because of poor customer service, but because their data was used without their knowledge. It’s an eye-opening statistic. People are aware their data has value, and have a strong desire to safeguard that value via customer consent and brand transparency.
Companies who move quickly to provide customer consent with privacy, transparency, and a consent-based data usage model will win the loyalty of their customers.
It’s with this in mind that we announced SAP Hybris’ intent to acquire Gigya, the market leader in customer identity and access management. With the completion of the acquisition on November 1st, we have taken a vital step to becoming the first organization to offer a new breed of solution designed around consumer choice and regulations.
Our goal is to deliver a cloud-based data platform that will enable businesses to build rich customer profiles from disparate sources in a way that respects consumer choices and regulations regarding data collection and usage, including the European Union’s upcoming General Data Protection Regulation (GDPR).
Customer data platforms and customer consent will be required to be competitive in the digital future
I recently outlined the strength of SAP Hybris in the front office, and the power of SAP in the back office.
Combine that with Gigya’s lead position in customer consent and identity management, and I believe we are looking at a real opportunity to offer something no one else can – a next-generation customer data platform.
IDC analysts Henry Morris and Gerry Murray shared their perspective on our plans in a recent research note, highlighting the “perfect timing” for improved privacy, identity and consent services, saying the acquisition is a “tremendous strategic move for SAP Hybris.” Obviously, I couldn’t agree more.
Is it easy for consumers to buy from you? How customer identity management can help
Learn the benefits of centralized customer identity management, including omnichannel customer experience and better security.
But there’s something else that I appreciate about working together with the Gigya team and it’s this: We share a common culture. SAP Hybris was a start-up back in the day and the entrepreneurial spirit we share with Gigya is one that drives our ambition to continually disrupt through innovation. I am convinced we can disrupt once again on a bigger scale with the Gigya team.
We are mega excited to team with the Gigya team to accelerate our efforts in three fundamental dimensions of identity, consent, and profile. This trio will provide the fuel (in the form of context) for the interactions and business processes carried out using the rest of our solution portfolio, as well as with technology from other vendors up and down the customer engagement stack.
And when interactions happen in context, magic moments are created—moments which are truly personalized for customers, rewarding for employees, and that add value to the business.
Game on!
