Cognizant Partners NTUC FairPrice to Digitally Transform its Business and Deliver Seamless Multichannel Shopping Experience
SINGAPORE, June 16, 2015 /PRNewswire/ -- Cognizant (NASDAQ: CTSH) today announced that it has partnered NTUC FairPrice (FairPrice), a major supermarket retailer in Singapore, to digitally transform its business and provide customers with a seamless multichannel shopping experience.
By bringing together its consulting, industry and technology expertise, Cognizant reengineered FairPrice's business processes, and implemented a digital e-commerce platform for the multi-format retailer to provide integrated, consistent and personalized customer service across multiple touch points, enhancing customer satisfaction, loyalty and brand perception.
The digital transformation program has also enabled FairPrice to improve real-time product and inventory visibility, make retail management more efficient, and gain a better understanding of customer preferences and purchase history. As a result of cross-channel integration, FairPrice has been able to roll out innovative services for shoppers, including its "Click&Collect" online delivery service -- the option to buy online and pick up the purchase from a store, a first in Singapore.
With superior insights into customer and staff behavior, FairPrice can further strengthen its supply chain, site and store operations, marketing, and merchandizing to drive growth and differentiation. Cognizant is also creating a mobile channel for FairPrice to engage better with its existing customers and attract new ones.
"Mobile and online retail is crucial to addressing heightened expectations of today's digitally-enabled shoppers, and digital technology has enormous potential to enhance their shopping experience," said Seah Kian Peng, CEO, NTUC FairPrice. "This digital transformation program underscores our commitment to our customers and represents a strategic advantage in that we can now leverage inventory across multiple locations and streamline fulfillment processes to not just delight our customers, but also increase sales and reduce operational costs. Cognizant's experience and capabilities have complemented our digital commerce vision and helped to reinforce our reputation as a retailer with a heart."
"A unified multichannel customer experience is increasingly a brand differentiator in the world of retail," said Jayajyoti Sengupta, Vice President and Head of APAC, Cognizant. "This digital initiative is a trend-setter in the region for customer-focused transformation. A single view of the customer, sales and inventory will enable FairPrice to rise to the needs of the next generation of shoppers and define innovative models. We are pleased to have helped FairPrice execute on its digital commerce strategy and utilize multichannel retailing to drive customer engagement, competitive advantage, market leadership, and growth."
About NTUC FairPrice
NTUC FairPrice Co-operative Ltd. was founded by the labour movement in 1973, with a social mission to moderate the cost of living in Singapore. From one supermarket, it has grown to become Singapore's largest retailer serving about 400,000 shoppers daily, with a network of over 120 outlets, comprising FairPrice supermarkets, FairPrice Finest and FairPriceXtra. Its convenience arm comprises a network of over 160 FairPrice Xpress and Cheers convenience stores, which serves over 100,000 customers daily. NTUC FairPrice also owns a Fresh Food Distribution Centre and a centralised warehousing and distribution company.
Today, with its multiple retail formats serving the varied needs and interests of people from all walks of life, NTUC FairPrice has kept pace with the changing needs of its customers while remaining committed to its social mission and its aspiration to be Singapore's leading world-class retailer with a heart.
Guided by the philosophy to do well in order to do good for the community, NTUC FairPrice set up the FairPrice Foundation in 2008 to focus its giving efforts to provide a better life for the community. FairPrice Foundation focuses its giving on three strategic thrusts – the poor and needy, nation building and community bonding, and advancing workers' welfare. FairPrice has since donated over $88 million to the Foundation to further these three areas of focus.
For more information on NTUC FairPrice, visit http://www.fairprice.com.sg.
About Cognizant
Cognizant (NASDAQ: CTSH) is a leading provider of information technology, consulting, and business process outsourcing services, dedicated to helping the world's leading companies build stronger businesses. Headquartered in Teaneck, New Jersey (U.S.), Cognizant combines a passion for client satisfaction, technology innovation, deep industry and business process expertise, and a global, collaborative workforce that embodies the future of work. With over 100 development and delivery centers worldwide and approximately 217,700 employees as of March 31, 2015, Cognizant is a member of the NASDAQ-100, the S&P 500, the Forbes Global 2000, and the Fortune 500 and is ranked among the top performing and fastest growing companies in the world. Visit us online at www.cognizant.com or follow us on Twitter: Cognizant.
Forward-Looking Statements
This press release includes statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions and the factors discussed in our most recent Quarterly Report on Form 10-Q and other filings with the Securities and Exchange Commission. Cognizant undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.
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SOURCE Cognizant
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