A chatbot otherwise known as conversational AI in a few contexts has become one of the most sought after technologies for businesses to improve their customer experience. Because of the growing customer demand, organizations are often resorting to conversational AI to automate their day to day processes with the help of chatbots to improve their operational efficiency. By automating mundane tasks, they let existing staff concentrate on other important areas where human presence is required.
Highlights:
- What is Business Process Automation (BPA)
- How Can AI Chatbots Help in Business Automation?
- Conclusion
What is Business Process Automation (BPA)
In simple terms, Business Process Automation (BPA) is the use of technology to automate business processes that are complex, mundane, and data loaded in nature. It’s a process businesses use to streamline their operations. One of the steps in BPA is engaging Conversational AI platforms to respond accurately to the customer questions, to demonstrate comprehension, and to offer relevant solutions. AI/ML frameworks used in building Chatbots helps to bridge the divide between human languages and the language of computers.
How Can AI Chatbots Help in Business Automation?
Customer Support
Banks, financial centres, and similar businesses often take advantage of conversational AI. These institutions take help to provide efficient and timely customer support services. Whether answering FAQs, directing users to a relevant service, or automating voice-mail follow-up. Conversational AI takes complex and personal interactions and automates them.
Lead Generation
Chatbots play a crucial role by sharing details of the services and products the company has to offer to the customers and keep interacting with the prospects and customers regularly. A chatbot, therefore, doubles up as a lead generation platform by sending notifications, alerts to the prospects and nurturing them to potential customers. They address the age-old customer hopping problems by providing the details to the point. Being a complete marketing tool, it also nurtures leads with a lead generation workflow.
Bot as an Intelligent Assistant
Chatbots act as intelligent assistants by helping companies in myriad ways, be it customer service, transactional e-commerce etc, thus saving a lot of time and effort put up by humans usually. Through conversational AI systems, they also remind us of meeting schedules, help in triggering notifications to customers, address FAQs etc. Engaging AI chatbots in BPA is a rudimentary step as it helps in streamlining customer interactions to boost data collection.
Transactional E-commerce
Businesses having to do with repeated transactions can implement Conversational AI . One good example is Domino’s; it uses a chatbot for receiving and processing the orders including the payment transactions using the respective payment gateways. Chatbots in business process automation wrt to e-commerce are invaluable, to say the least. They are super fast & increase the overall ecommerce experience.
Chatbots in Sales & Marketing Function
Consistency is the key element in sales and marketing to communicate the value proposition to the prospects and customers. As per a report, after one follow-up, 44% of sales professionals give up in their follow-ups. One of the ways to do marketing outreach programs is through AI Chatbots, chatbots can be built to send sales and marketing related notifications to your prospects and customers consistently allowing them to comprehend the value of your business and all this in a very attractive RoI.
Data Collection
AI Chatbot in the BPA context, helps companies gather data from the conversations it has with the customers. These data points help businesses to train the bot for better conversations and in turn increase customer satisfaction.
Conclusion
Business Process Automation is all about integration and aligning your existing business practices so that they reach the maximum operational efficiency. In case you are wondering where to start?, well conversational AI could be the very first step in BPA. The potential rewards of investing in AI chatbots are evident from streamlining customer interactions to boosting data collection, conversational AI does promise an impressive ROI.
Nuacem AI, is a Conversational AI-Powered Cognitive Customer Engagement platform. We’ve worked with many banks and BFSI institutions on various use cases wrt to their industry in solving their day-to-day challenges in customer support. In case you are looking for chatbot solutions to address your customer engagement problems in your banking institutions, we would be glad to assist you. You may please reach us here.
