Advancements in software have made it possible to validate addresses in near real-time. This capability enables organizations to minimize the potential for error while meeting the needs of customers, faster.
The process for validating addresses takes place using an application programming interface (API). With this technology, software systems communicate relevant information with each other.
The digital-first global economy is booming. Within this landscape, organizations are under pressure to meet the needs of their customers at record-speeds. A by product of fast-moving markets is the increased potential for risk, especially with regards to human error, fraud, and miscommunication between technical systems.
The practice of validating addresses is one of these methods that can prevent multiple problems within a business, including:
Address validation also has use cases for marketing, customer insights, and financial services. The information in an address validation string communicates rich demographic data, which can help organizations make data-driven decisions.
Businesses collect address data for different purposes ranging from planning to invoicing, onboarding and order management. Address verification provides an extra layer of due diligence, to prevent operational errors and improve the speed of meeting customers’ needs.
When choosing an address verification API, businesses will need to give careful consideration to the types of solutions available. Here is some criteria to evaluate:
With eCommerce playing a greater role for many retailers, address verification can help to secure on-time deliveries and validate customer data. In digital environments, address verification enables e-tailers to manage high-volume transactions.
In physical environments, this technology is essential for supporting social distancing measures in environments where people need to pass through quickly. For in-store scenarios, address verification supports the speedy and accurate capture of addresses. Increasingly, in-store retail assistants are using specialty EPOS & mobile POS retail software to efficiently capture accurate data from their customers.
Address validation software supports a variety of retail use cases. These include, but are not limited to, the following:
Address verification has a direct impact on your business’s revenue optimization strategy. With so many touchpoints, exchanges of data, and service expectations in modern commerce, retailers need automation to stay relevant in today’s economy. Validating addresses will bring the following benefits to a retail organization:
eCommerce makes it possible for global business to occur in real-time. For this reason, address verification APIs need to support rapid, instantaneous information transfers by being easy to use and scalable.
Address validation technology has real-time use cases across industries ranging from eCommerce, finance, gaming, retail, education, healthcare, travel & hospitality, grocery, and insurance.
Loqate helps businesses around the world verify customer addresses by combining our global datasets with best in class technology. Our easy to integrate API helps our customers verify customer data at the point of capture. Find out more about how Loqate address verification solutions can help your business.