All the new age disruptions, technology advancements and economic upheavals have taught us one thing: that customer is still king. Whatever a business does, it must revolve around the customer. But the customer engagement game has changed dramatically over the years. Digital transformation and the advent of cognitive technologies have enabled businesses to engage customers better, adding to the growing number of engagement channels and lowering the time it takes to reach out to the customer first.
It is fair to say that a customer-first strategy has given rise to a digital-first business model as more and more businesses are today looking to maximize customer outreach potential through automation. The market potential for digital customer relationship management is huge and growing! If your company hasn't already set itself on a path to digital transformation, now is the time. We discuss automation, specifically intelligent automation, and how it is impacting customer relationship management at a fundamental level.
Intelligent automation is a new age digital transformation technology that is a combination of cognitive technologies like AI and machine learning with Robotic Process Automation (RPA). More sophisticated solutions also include advanced capture automation technologies in addition to cognitive software and RPA, to accommodate for intelligent automation of heavily document-dependent processes.
Using technologies embedded with AI and machine learning capabilities, businesses are able to open up many channels of communication with the customer and understand customer needs better.
Onwards to some of the technologies supporting digital transformation in customer relationship management:
Chatbots: ‘at your service’ is no longer hyperbole and intelligent automation has made it possible to attend to customer queries at all hours; regardless of the location. A chatbot is a virtual agent that simulates ‘human conversations’ with customers via messaging. Chatbot technology employs natural language processing and AI to synthesize responses to queries or answers, based on answers given by a customer. This enables companies to be in touch with customers and engage their needs at all times, allowing them to capture every opportunity for sales and continued business.
Order Processing Software: intelligent automation enables mobility of workflows; this aspect of the technology is utilized to improve document-based processes that require heavy manual work. Order processing is a typical document-dependent process that involves a great deal of manual paperwork, and therefore prone to errors. Order processing software built from intelligent automation takes advantage of AI and machine learning to perform straight-through processing of customer sales orders. Sales order automation dramatically lowers the costs and inefficiencies associated with manual paperwork.
Analytics: with enormous amounts of data collected from customer feedback forms, emails, chat, customer service calls, purchase data from ERP transaction records, website landing pages and cookies, third-party apps, etc., there is enough to determine the buying patterns of select consumer segments. AI can be employed to analyze and tap into customer buying behaviour.