PepsiCo has adopted AI and machine learning to cut down on the time it takes to validate purchases. The validation process is significant to the company’s loyalty efforts. The new technology is allowing PepsiCo to implement receipt capture and data extraction on its JOY customer loyalty app.
The beverage giant holds loyalty programs dear because it keeps customers engaged personalize experiences. Customer loyalty programs, during the economic downturn, ensure Consumer Packaged Goods (CPG) companies can retain and grow their wallet share. As such, CPG companies like PepsiCo are using receipt data capture for purchase validation to drive loyalty rewards and shopper behavior.
Edgar Reyes, director, of PepsiCo, said PepsiCo is leading the CPG industry with innovations in customer loyalty programs and analytics. “With the Veryfi platform and Lens framework, we were able to add user-friendly receipt capture and data extraction to our JOY customer loyalty app, reducing our purchase validation time from 7 to 11 days, to a few seconds, while unlocking unprecedented cross-basket customer data.”
Reyes outlined that validating customer purchases is an important part of loyalty programs. “It used to take PepsiCo between 7 to 11 days to do that in a manual process that relied on an outside clearing house. Now with the Veryfi optical character recognition and artificial intelligence (AI) technology, it takes just a few seconds. Additionally, overall costs have been lowered significantly and fraud prevention has been improved.”
Moreover, PepsiCo is starting to unlock “cross-basket” insights into their customer shopping behavior. It incorporated the Veryfi Lens mobile framework into its customer rewards loyalty app called JOY and launched the new version to users in just two weeks.
Veryfi Lens captures receipt images with real-time computer vision capabilities, such as automatic edge and document detection, stitching together long receipts into a single image, compression optimization, blur detection, and automatically turning on the camera light. With this, businesses are able to better understand their consumers.
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