The Price Is Right With IP Intelligence Technology

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Scenario
E4X Inc., a multi-currency solution provider with a strong Web presence, now faces a new set of challenges as it strives to simplify the process of online shopping by “localizing” global e-commerce.

With online shopping expected to continue expansion well beyond the borders of the United States, buoyed by the fact that the number of European Internet users alone will rise to 196.2 million by year’s end, the importance of providing language- and currency-specific content becomes paramount to the success of any global e-tailer. In fact, studies report that shoppers are three times more likely to buy products from websites that serve content in their respective language.

Solution
During the last several years, as Internet shopping has truly become more global in nature, E4X began developing a seamless method to enhance its existing multi-currency solution. Through initial research, E4X discovered a new technology—IP Intelligence—which uses IP addresses to non-invasively identify website visitors down to a city level worldwide. This new geographic capability was exactly what E4X needed: a way to enable businesses to automatically sell their products and services in local currencies without risk.

Today, E4X can easily solve currency problems for online businesses. E4X integrated Digital Element’s, a business unit of Digital Envoy, industry-leading IP Intelligence technology into its existing solution to create a new feature called Currency Detector™. The addition of E4X’s Currency Detector feature soon provided a foreign exchange solution that not only enabled online merchants to automatically display guaranteed, final prices in local currencies on screen, but also allowed them to receive exact and expected payments in U.S. dollars – without foreign exchange risks and associated costs.

For example, when visitors from the United Kingdom make a purchase selection online, the product pricing is automatically displayed in the shoppers’ local currency (pounds) on both the catalogue and payment pages, eliminating the need to select the currency themselves. E4X’s Currency Detector not only eliminates currency miscalculations but also aids in prevention of fraudulent transactions by flagging high-risk areas and showing geographic details of suspicious activity.

Success
More than 95 percent of E4X’s customers now integrate IP Intelligence technology into their existing multi-currency solutions with the majority posting an increase in revenues. In particular, Register.net, an E4X customer that is one of the leading resellers for the software industry, realized an immediate 20 percent increase in the accuracy of appropriate
currency transactions after the Currency Detector was incorporated into a customized order form - ultimately affecting its bottom-line profit from online sales. Another E4X customer, eSellerate, a leading software commerce provider, has benefited from having an outsourced capability seamlessly integrated into its existing e-commerce functionality, thus eliminating the need to allocate resources and budget to developing its own internal solution.

For companies looking to simplify global e-commerce transactions, Digital Element’s IP Intelligence technology offers a solution that is sure to make the price right for any online business and its shoppers.

Quick Facts
According to Nielsen/NetRatings, the United States accounts for only 25% of the world’s Internet population.

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