<ul><li>For organisations on the <keyword id="860946" type="General" weightage="20" keywordseo="digital-transformation" source="Orion">digital transformation</keyword> journey, agility is key in responding to a rapidly changing technology and <keyword id="7890618" type="General" weightage="20" keywordseo="business-landscape" source="Orion">business landscape</keyword>. </li><li>As more and more players adopt the online <keyword id="125920" type="General" weightage="20" keywordseo="marketplace" source="Orion">marketplace</keyword> business model; it becomes extremely important to track key performance metrics to ensure competitiveness. </li><li>These metrics cover usage, transaction and business performance and provide insights that are crucial to build a robust business model.</li></ul>Running an online marketplace is about more than launching it to your first customers and hoping for the best. It is important to monitor the business and regularly assess performance to ensure long-term profitability and growth. We'll examine the most crucial key performance indicators (KPIs) for online marketplaces in more detail to determine the performance of your business. These KPIs can be divided into three distinct subsections, each focusing on specific areas of the business. These are valuable metrics that indicate the number of visitors to the site and what they do there, transaction metrics that ensure that the marketplace mechanics are functioning correctly, and business metrics that provide insights into the financial viability of the business model. Let’s explore these areas in detail and understand how each e-commerce performance metric affects future business decisions. Usage metrics: The traditional ones Usage metrics are not unique to e-commerce marketplaces. These metrics are the traditional metrics that all websites track to monitor their growth. <ul><li>Monthly active users (MAU): Tracking the number of unique visitors to your website each month is a good indicator of your platform’s growth. The number of monthly active users will steadily increase if your site consistently attracts new users. On the other hand, a stagnant or declining number of MAU is a clear sign of trouble.</li><li>Bounce rate: A large number of visitors to your site is meaningless if these visitors don’t engage with the site and leave or bounce immediately. The percentage of visitors who visit your website only to depart is known as bounce rate. Businesses need to maintain the bounce rate as low as possible by ensuring that the website is attractive and engaging.</li><li>Time spent on site: Users who spend time exploring your site are good for your business, as people who spend more time browsing are more likely to buy something. However, customers who spend too much time on a marketplace website can mean they can't locate what they're looking for. This metric is a good indicator of how user-friendly your site is. </li></ul>Transaction metrics: The new realm We’re now entering the realm of e-commerce marketplace–specific metrics. e-commerce sites are designed to facilitate transactions between buyers and suppliers, but merely focusing on the number of transactions doesn’t provide actionable insights that can be directed at ensuring sustainable, long-term growth for the marketplace business model. That’s why we need to look at these relevant KPIs. <ul><li>Liquidity: This metric has two sides — supplier or provider liquidity and the buyer or customer liquidity. Buyer liquidity is the likelihood that a website visit will result in a transaction, and supplier liquidity is the likelihood of selling a product that has been placed for sale. Liquidity is measured in percentage, so supplier liquidity is the percentage of listings that lead to sales. And buyer liquidity is the percentage of website visits that end in transactions. Liquidity is a useful measure of a market's success since it shows the likelihood that users on the supply and demand sides of the market will succeed in their endeavours. </li><li>Supplier-to-customer ratio: Also called the buyer-to-seller ratio, this metric is defined as the number of customers one supplier can serve. The ideal ratio differs across marketplace sectors and provides insights into whether you need to grow your supplier or customer base. </li><li>Repeat purchase ratio: This transactional marketplace metric indicates the percentage of transactions that are repeat purchases from individuals who have already bought products or services from your site. A high repeat purchase ratio indicates that you can afford to direct more resources towards customer acquisitions since each new customer is more likely to make multiple purchases. </li></ul>Business metrics: The futuristic ones Business metrics provide insights into profitability, revenue, and customer acquisition. These KPIs reflect a marketplace’s overall financial health and are useful to assess whether or not the business model is functioning as it should. <ul><li>Gross merchandise volume (GMV): GMV is calculated by the total cost of goods or services sold over a period of time through an online marketplace. GMV is one of the most critical variables to monitor in order to gauge your platform's progress. </li><li>Customer acquisition cost (CAC): CAC is how much you spend to acquire each new customer. In an ideal world, your customer base would grow organically, and your CAC would be negligible. In the real world, this is not the case. Resources directed towards marketing activities and paid ad campaigns contribute towards your CAC. </li><li>Customer lifetime value (CLV): As a measure of the expected revenue, you may expect from each customer, CLV should be larger than CAC for a viable firm. CLV depends primarily on how long a customer is retained, the number of purchases they are expected to make, and the average size of each transaction.</li></ul>For organisations on the digital transformation journey, agility is key in responding to a rapidly changing technology and business landscape. Now more than ever, it is crucial to deliver and exceed organisational expectations with a robust digital mindset backed by innovation. Enabling businesses to sense, learn, respond, and evolve like living organisms will be imperative for business excellence. A comprehensive yet modular suite of services is doing precisely that. Equipping organisations with intuitive decision-making automatically at scale, actionable insights based on real-time solutions, anytime/anywhere experience, and in-depth data visibility across functions leading to hyper-productivity, <a href="https://www.infosysbpm.com/live-enterprise.html">Live Enterprise</a> is building connected organisations that are innovating collaboratively for the future. Disclaimer: This article is authored by Shyam Rao, AVP - Senior Practice Engagement Manager, Infosys BPM. The opinions expressed are those of the author and do not necessarily reflect the views of Business Insider India

Are you effectively assessing the impact of marketplace management services?

Bengaluru, Apr 22 () Aimed at empowering people in itsfight against coronavirus, the Karnataka government onWednesday launched "Apthamitra" helpline with an exclusivetoll free number and a mobile app, aimed at providing requiredmedical advice and guidance for those in need. The help line and app was launched by Chief Minister B SYediyurappa in the presence of senior Ministers and officialsof the department."If anyone has symptoms of coronavirus, they can call thehelpline from their home, get medical advice or assistance andget their doubts cleared.Based on the symptoms, an expert team of doctors willadvice on what to do next," he said.According to the department, the 'Apthamitra' helplinewill work from 8 AM to 8 PM, with helpline Centers at sixlocations in Bengaluru (four centers), Mysore and Mangalore(Bantwal) with total of 300 seat capacity are being set up.It's a two tier system where the first tier is manned byAYUSH or nursing or pharma final year volunteer students.The second tier is manned by MBBS or Integrated Medicineor AYUSH volunteer doctors connecting from their respectivelocations for risk assessment, counselling, telemedicine andreferral for testing and treatment, it added. The helpline "14410" will cover residents in all parts ofthe state.While the 'Apthamitra' App is for those with smart phoneto seek advice for telemedicine from doctors directly.The purpose of this initiative is to reach out to people,especially those staying in Corona hotspot areas, identifythose having Influenza Like Illness (ILI), Severe AcuteRespiratory Infection (SERI), coronavirus like symptoms orhaving high risk of getting infected, the state healthdepartment said.It also intends to identify people with low risk, buthaving some symptoms similar to those of coronavirus andprovide them telemedicine support with OTC medicines, andcounsel them for self-quarantine.It also aims to follow-up all low risk cases till theyget fully cured, along with assessing those having medium tohigh risk of coronavirus and get them to fever clinics orCOVID-19 screening centers for testing and treatment, thedepartment said in a release.The intention of the platform is to analyse incidence ofIlI, inform decisions for graded relaxation of the lockdown toresume economic activities in areas with low prevalence of thesymptoms while stepping up containment measures in hotspots,clusters and disease break-out areas, it said.This entire Solution is owned by Health and FamilyWelfare Department and State Disaster Management Authority.The system works under the aegis of NASSCOM, Bengaluru.The Digital Mobile app and the back end CRM system havebeen developed by Infosys BPM (the subsidiary of Infosys Ltd),the release said.Further Infosys BPM and Hinduja Global Solutions haveworked together to design, build and execute the Multi-Channelcustomer contact Solution with the Contact Center Infra beingprovided by Infosys, HGS, Concentrix, MPhasis and HCL aspartners in the fight against coronavirus,it added. KSU APRRAVINDRANATH APRRAVINDRANATH

K'taka govt launches "Apthamitra" helpline and App to fight COVID-19

New Delhi, Apr 23 () Business process management (BPM) major WNS Holdings on Thursday posted a marginal dip in net profit to USD 29.5 million for March quarter, and said it is temporarily suspending its annual guidance due to volatility and lack of visibility amid COVID-19 outbreak.As per the general accounting standards, the company had registered a net profit of USD 29.7 million in the same quarter last year. Its revenues grew by 18 cent to USD 248.3 million in the March 2020 quarter from USD 210.5 million in the year-ago period, WNS said in a statement.WNS Chief Financial Officer Sanjay Puria said based on the volatility and lack of visibility stemming from the COVID-19 pandemic and the associated impacts on WNS and its clients' businesses, the company has temporarily suspended its annual guidance. "WNS will continue to monitor the COVID-19 situation and plans to resume guidance when visibility improves," he said adding that the company is in a strong financial position with USD 269 million in net cash, USD 64 million in unused lines of credit, and a business model with low capital requirements and operating cost flexibility.IT firms like Wipro and Infosys have also suspended their practice of offering revenue growth forecast, while Cognizant had retracted its annual outlook for 2020.WNS Chief Executive Officer Keshav Murugesh said while the company closed the year with a solid fourth quarter and full-year performance, it enters fiscal FY21 in a "challenging, uncertain, and rapidly changing environment". He added that the company is focused on ensuring the health and safety of its over 44,000 global employees and on servicing the needs of clients in this difficult time. WNS said the COVID-19 pandemic is having a significant impact on its clients' businesses, and on its operations, financials, and visibility. "Revenue is currently being pressured by declining client volumes, delays in new business ramps, and regional lockdowns which impact service delivery. In addition, we are also receiving client requests for price reductions, discounts, and extended payment terms," it noted adding that the company is actively working to understand its client's changing requirements, adapt delivery to a 'work from home' model, ensure data security, prioritise critical processes, adjust service levels, and manage costs. WNS said it is now able to deliver over 80 per cent of its client's current requirements, with ongoing improvement expected over the next few months, and the "adverse impact of COVID-19 on fiscal Q4 2020 financials was limited to a ramp-down in the second half of March". WNS expects a "much greater financial and operational impact" in the first quarter of 2020-21 and potentially subsequent quarters. The magnitude of the impact to the first quarter and full year financial performance will be a function of how long the COVID-19 pandemic lasts on a global basis, and how long it takes for client's businesses to stabilise and recover, WNS noted."While we understand that our financial performance in fiscal 2020-21 will be impacted by the COVID-19 pandemic, our goal is to manage what is within our control, continue to invest and innovate, and remain focused on the long-term BPM opportunity. WNS firmly believes that when this pandemic is behind us, we will return to a healthy environment for BPM services," Murugesh said.WNS posted revenue less repair payments of USD 235.8 million in March quarter, up 14.1 per cent from USD 206.6 million in the year-ago period.In 2011-12, WNS re-negotiated contracts with certain clients and repair centres in the auto claims business, whereby the primary responsibility for providing the services is borne by the repair centres instead of WNS.Its global headcount stood at of 44,292 as of March 31, 2020.For 2019-20, WNS' net profit was up 10.8 per cent at USD 116.8 million, while revenue grew 14.7 per cent to USD 928.3 million from the previous fiscal. SR RUJRUJ

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Are you effectively assessing the impact of marketplace management services?

Shyam Rao

K'taka govt launches "Apthamitra" helpline and App to fight COVID-19

PTI

WNS Q4 net profit dips marginally to USD 29.5 mn, suspends FY21 guidance

PTI