CFO Tech Outlook Weekly Brief
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Today's customer needs are rising exponentially. To cope up with this, companies need to change and modify the way they do business, along with the way they treat their customers. Fortunately, technologies help brands to achieve business goals. The type of tech tools an organization need for customer service depends on the type and size of the business, but below are few must-haves that most business can't live without.
Chatbots: Chatbots are best applied for answering predictable, repetitive questions. Chatbots under good design and implementation can resolve more than eighty percent of customer queries without human intervention. Chatbots are an excellent solution for providing immediate response to every inquiry since response time is critical for customer satisfaction. Customers can appreciate the acknowledgment even though the bot only collects initial information to pass onto a live agent.
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Customer Relationship Management (CRM): CRM enables the business to manage customers' data and track their relationship with the brand by providing valuable insight to improve service and bring new customers on board. All history and contact information is stored on a centralized system which is easily accessible through an intuitive dashboard. When inquiries arise, they are routed through the CRM system and promptly resolved instead of lost in voicemail or email inboxes. Businesses can integrate CRM systems with other applications.
Business Process Automation (BPA): Business Process Automation (BPA) systems efficiently manage internal operations and communication. With BPA data is collected from employees within a centralized system, avoiding manual data entry errors while raising request and approval rates. Reports and analytics provide additional insight into areas needing improvement. By building online self-service forms that trigger automated workflows, businesses can accelerate response times for dealing with customer/client concerns and requests.
Robotic Process Automation (RPA): By reducing risks and costs of manual efforts, RPA can manipulate data on a pre-defined track under a given set of parameters to process the data entirely by itself, improving the speed of processes. All automatically, RPA programs can also open emails, analyze data, move through a series of checks, transfer data, and recognize if any information is missing.
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