Compario chief executive Pascal Podvin explains how his business started with a patent, why eCommerce is such an attractive sector and why social media is such a plus for his business.
Compario is a vendor of connected commerce solutions focused on improving the customer shopping experience through enhanced catalogue management, dynamic E-Merchandising and personalised search and navigation.
What were you up to before Compario?
I have been working in global software management for more than 25 years including almost 10 years at PeopleSoft, where I was one of the company’s first employees, and where I became VP of Europe, between 1997 and 1999.
Following that, I became VP of worldwide sales operations for software vendors Blue Martini and i2 Technologies, helping to grow both businesses. Afterwards I invested in several start-ups including BlueKiwi, helping to guide them through their launch strategy.
Why did you choose to invest in Compario?
Having built up experience in B2B software I become an angel investor and this is how I was eventually introduced to Compario. The great thing about Compario, is that retail is in its DNA – that’s where the roots of the business are.
This means that its founders and executives truly understand the industry, so as well as filling a gap in the market, it does so with a fantastic product which is both innovative and practical. Our applications are business enablers and CIOs fall in love with the technology.
How was the Compario solution developed?
The business started with a patent. A lot of businesses are routed on open source software technology, but we developed a new set of platform solutions because there was nothing currently on the market that did this.
Other businesses that have tried to develop their own E-Commerce platforms know that this is a difficult and expensive process, so Compario is often the more attractive option.
It can be put on top of their existing systems – the average implementation cycle takes about 2-3 months to set up and ROI is almost immediate.
What appeals to you about the e-commerce sector?
The world of commerce is changing at a rapid pace – transforming from one based purely offline, to one in which customers (and retailers) move between multiple channels for a single purchase. Technology is progressing fast, so it is a really exciting sector to be in.
Do you use social media and do you find it useful?
Social media is becoming increasingly important for any business, both for communication and networking.
We use Twitter and LinkedIn and find them each useful for spreading marketing messages, starting up conversations and as a platform for publishing our white papers. It also helps us to keep in touch with retailers in order to keep up to date with what’s going on in the industry.
Aside from this, social media is becoming an established method of connecting with the consumer, so it is vital that retailers take full advantage of the opportunities it brings. Shopping offline is a social activity – rather than simply being a necessity – and social media gives retailers the ability to recreate this element online.
We as consumers, are more likely to make a purchase if it is recommended by a friends, so viewing what others tweet about, ‘like’ or re-pin, may help to influence our decision. For this reason, social media is a vital part of e-commerce.
How many customers do you currently have?
Compario powers over 100 websites in more than 15 different countries.
What has been your biggest challenge to date?
Compario recently launched in the UK. This has been an exciting time for the company, though it has also been a huge challenge – Compario is well known in France but much less so here, so it has effectively been like building up a start-up again. However we are coming on leaps and bounds and I am really pleased with the progress we’ve been making.
What plans do you have to grow the business in future?
Compario is growing internationally – 20% of our business comes from outside our core markets. Even though the EU and US are in economic downturn, the e-commerce market is still growing.
People are increasingly going online and emerging markets are continuing to grow. We are specifically targeting the EU and Brazil and are currently developing innovative new ways to enter the US market.
