To support marketing and sales efforts aimed at expanding its portfolio of significant deals, Indian IT giant Infosys introduced Infosys Aster, a new AI-based product, on Tuesday. According to a statement from the Bengaluru-based IT company, chief marketing officers (CMOs) should be able to use the AI solution to leverage GenAI and boost sales by roughly 40%.
“Infosys Aster is a crucial part of our big transactions and will support us in providing our clients with comprehensive, transformative value. Infosys executive vice president and co-head of delivery Satish HC stated, “Infosys Aster will assist CMOs in utilizing the power of modern AI, assets, and tools to expand their consumer outreach and consequently help increase sales by 40%.
He continued, “Our clients want to grow into new markets while strengthening their relationships with us, and they want to do it quickly and effectively.”
With more than 50 partners, Infosys, the second-biggest software service provider in the nation, created Infosys Aster to speed up the marketing value chain for both B2B and B2C firms. With an integrated, real-time perspective across customers, brands, channels, and trends, it propels the AI-led transformation of marketing and helps businesses boost marketing return on investment.Global brands have seen a 30% reduction in marketing operations costs and a 50% boost in repeat business because to Infosys Aster,” the company said in a statement.
With a net new deal value of $529%, Infosys’ large deal TCV (total contract value) in the fiscal year 2024 ended in March, reaching an all-time high of $17.7 billion. The large transaction TCV for the most recent quarter, which ran from January to March, was $4.5 billion, of which 44% was net new.
Even with the transaction wins, most IT service providers had a muted overall demand environment during the year, which coincides with the launch of the new marketing product package.
Infosys is also transforming its internal marketing operation with the help of this solution.
By finding and targeting high-quality leads with Al-driven analytics and customer insights from the Suite and lead-generation campaigns, characterized by greater cross-sell and up-sell chances, it is intended to assist marketers boost customer lifetime value for customers.
Predictive insights not only aid in shaping pricing strategies but also assist brands in building a common digital infrastructure that serves as a base for developing new opportunities to generate value for marketing and sales.
In one of its customer pilot programs, Infosys Aster assisted a retailer of diamond jewelry in updating their marketing approach through the use of augmented reality and other customer experiences. This resulted in a 27% increase in commerce sales, a 4x increase in online sales conversion, and a 30% reduction in operating expenses. The product has produced about 5.6 million registered users, earned a 4.6 app rating, and increased to a 40% boost in sales, according to a beauty retain chain.
