Akeneo, the product experience company, has been recognised by Ventana Research, an independent market research and technology advisory services firm, as a Value Index Leader in the 2023 Product Experience Management (PXM) Value Index.
The PXM Value Index is a measure of a vendor’s ability to fulfil a buyer’s PXM needs using their software. By incorporating customer expectations and demands for vendor selection, Ventana Research generates a complete report, helping organisations evaluate the efficiency and effectiveness of Product Information Management (PIM) tools in delivering engaging digital experiences through PXM best practices.
This quantitative, research-based index assessed Akeneo and 15 other PIM vendors across seven categories, comprising five Product Experience categories and two Customer Experience categories: Adaptability, Capability, Manageability, Reliability, and Usability were related to product experience, while Validation and TCO/ROI pertained to customer experience.
Akeneo was rated first place in the “Validation” category, which analysed a firm’s ability to support a customer through their PXM journey across sales, onboarding, support, services, and partners, and how the vendor uses customer interactions and feedback to improve their product. Akeneo was also ranked second place in several categories, including “Usability,” which analysed the technological intelligence of the vendor’s software across the user’s experience, including the use of Artificial Intelligence (AI), Machine Learning (ML), and usability of the software by employees of varying skill levels and expertise.
“Since our inception, we have prioritised innovation to ensure our solutions are evolving alongside the ever-changing needs of today’s retail market,” said Kristin Naragon, Chief Strategy and Marketing Officer at Akeneo. “Being named an Exemplary Vendor by Ventana Research further validates that our solutions are effective in propelling our customers towards measurable outcomes, like enhanced revenue and reduced returns, through exceptional and consistent product experiences.”
“Congratulations to Akeneo for its overall Value Index Leader ranking in our 2023 Product eXperience Value Index and the continued investment to its platform and portfolio of products necessary for organisations and its commitment to the Customer Experience it provides,” said Mark Smith, CEO and Chief Research Officer at Ventana Research.” Akeneo PIM, with its dedication to automation and intelligence that enables organisations to manage products effectively across business processes that reach across an enterprise to its customers, partners and suppliers.”
This news comes on the heels of Akeneo’s 2023 Spring Release, introducing new AI-powered capabilities and retailer integrations for its Akeneo Product Cloud solution. The update features Akeneo Activation for Retail, enabling consistent product experiences on channels like Amazon and Macy’s, AI-driven data cleansing for Akeneo PIM, and an expanded Akeneo App Store with apps like ChatGPT. These enhancements support companies in future-proofing their go-to-market strategies by rapidly delivering compelling product experiences across the customer journey.
For more insight into Akeneo’s results in the 2023 PXM Value Index, the Ventana Market perspective can be found here.