Elastic Path Software Announces Customer-Centric Ecommerce Platform.New Features of Elastic Path 5 Boost Customer Conversion and Drive Revenue for Online Retailers VANCOUVER, British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography -- Elastic Path Software, pioneer of flexible ecommerce software, today unveiled Elastic Path 5, the most recent advancement of its ecommerce platform for online retail. The re-engineered platform delivers a powerful promotion rules engine, innovative search engine marketing functionality, faceted in-site search and navigation, and full web services (1) Loosely, any online service delivered over the Web. Such usage appears in articles from non-technical sources, but not in IT-oriented publications, because definition #2 below describes the correct use of the term. capabilities to mid-sized online retailers. In conjunction with the company's new AJAX-based checkout, Elastic Path One Page[TM] (see October 23, 2006 press release "Elastic Path Software Announces Single Page Checkout for Online Stores"), Elastic Path 5 enables online retailers to attract and convert customers profitably. Jupiter research predicts that online sales will reach $95 billion by the end of 2006. With the exceptional growth in online shopping, retailers have an unprecedented opportunity to grow revenue. However, the increasing cost of acquiring customers forces online retailers to boost average order size, improve conversion rates, and reduce shopping cart abandonment or face becoming dependant on Adj. 1. dependant on - determined by conditions or circumstances that follow; "arms sales contingent on the approval of congress" contingent on, contingent upon, dependant upon, dependent on, dependent upon, depending on, contingent repeat purchasers. Elastic Path 5 is comprised of several components that empower retailers to deliver a rewarding shopping experience and recognize customer profitability Customer profitability (CP) is the difference between the revenues earned from and the costs associated with the customer relationship in a specified period. According to Philip Kotler,"a profitable customer is a person,household or a company that overtime,yields a revenue immediately. Using Elastic Path Rules[TM], ecommerce marketers can efficiently create an infinite number infinite number a number so large as to be uncountable. Represented by 8, frequently obtained by 'dividing' by zero. of promotions using natural language, maximizing the value of each order. Elastic Path Optimize[TM] offers intelligent search engine optimization Designing a Web site so that search engines easily find the pages and index them. The goal is to have your page be in the top 10 results of a search. Optimization includes the choice of words used in the text paragraphs and the placement of those words on the page, both visible and hidden tools used to connect web searchers with the most relevant products possible, boosting overall conversion rates and minimizing customer acquisition costs. Elastic Path Seek[TM] delivers filterable filterable /fil·ter·a·ble/ (-ah-b'l) capable of passing through the pores of a filter. fil·ter·a·ble or fil·tra·ble adj. in-site search and navigation, helping shoppers find products fast. Utilizing web services, Elastic Path Connect[TM] provides connectivity into alternative data sources such as enterprise resource planning See ERP. (application, business) Enterprise Resource Planning - (ERP) Any software system designed to support and automate the business processes of medium and large businesses. (ERP (Enterprise Resource Planning) An integrated information system that serves all departments within an enterprise. Evolving out of the manufacturing industry, ERP implies the use of packaged software rather than proprietary software written by or for one customer. ) to deliver a consistent multi-channel experience to shoppers, all through a highly flexible service-oriented architecture See SOA. . Additionally, Elastic Path 5 dramatically reduces upfront and ongoing costs with its continued use of proven open source components. "The high cost of customer acquisition significantly impacts ecommerce margins," said Alex Fletcher, lead industry analyst at The Entiva Group. "For many online retailers, paid search marketing represents a major part of that cost. Through effective organic search engine An Organic Search Engine is a manually operated search service which uses a combination of computer algorithims and human researchers to lookup a search query. A search query submitted to an Organic Search Engine is analysed by a human operator who researches the query then formats optimization, retailers can change the rules of the game, acquiring more customers at a reduced cost." "We needed an ecommerce platform that would help us raise conversions, lower the cost of customer acquisition and get immediately profitable transactions," said Rob Levy of Electricshopping.com. "Since launching on Elastic Path, order volume has significantly increased, average order size and items per basket is up 25 percent, and order accuracy has never been this high - all without adding resources or changing our business process." A powerful complement to Elastic Path 5 is the company's AJAX-powered Elastic Path One Page[TM] technology, creating an optimal check out experience and enabling returning customers to complete an order with a single click. One Page eliminates waiting for page reloads, provides a constant snapshot of order details and allows cart contents and order details to be adjusted at any time, in any order, without ever leaving the checkout process. "Elastic Path 5 is an example of how we are working with online retailers to meet their current needs, while at the same time, demonstrating the ability to look ahead of the curve and anticipate the ecommerce needs of tomorrow with products like One Page," said Harry Chemko, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Elastic Path Software. "These new tools enable online retailers to reduce acquisition costs, convert customers, boost the value of online transactions and ultimately win market share in this competitive market." Product Availability Elastic Path 5 will be available on November 6, 2006. About Elastic Path Elastic Path Software pioneered flexible ecommerce software that enables online retailers to attract and convert customers profitably. Elastic Path's fully-integrated, ecommerce framework is designed specifically for mid-sized retailers operating within a multi-channel environment. Using innovative search engine optimization (SEO (Search Engine Optimization, Search Engine Optimizer) See search engine optimization. ) technology and simplified open source components, Elastic Path's technology empowers its customers to maximize resources and quickly adapt tactics at a comfortable price. Companies such as Makeup.com, Cotswold Collections, Aeroplan, Random House, Electricshopping.com and Xerox use Elastic Path for maximum control over their rapidly evolving online stores. Elastic Path Software is headquartered in Vancouver, British Columbia, Canada. For more information please call 1-800-942-5282 or visit www.elasticpath.com. |
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