The increasingly wired world that we live in is significantly affecting many of today’s most common business practices. One of the most prevalent trending technologies is how robotic process automation is changing the backend of business. Here are four examples of how bots are changing the fundamentals of business:
In today’s increasingly global marketplace, the capabilities of chatbots are being used to understand hundreds of different languages. The latest generation of chatbots has the ability to process and mechanically translate back and forth to converse with people all over the world, regardless of the language that they speak. The translations are so fluid and natural that many customers will not even realize that they are talking to a bot.
Doing the Dirty Work
One of the most significant benefits of the incorporation of bots into everyday business processes is that they have the ability to perform repetitive tasks and other duties that can be easily automated through the use of bot technology. This automation saves an enormous amount of money and allows employees to focus on other critical thinking tasks. According to a 2017 report by the Everest Group, robotic process automation technology is on the cusp of “explosive” growth. Their report indicates that, in 2016, the RPA market grew 64 percent to $200 million and expected to grow another 70 to 90 percent by 2018.
Better Customer Support
The expansion of bots into backend business practices have enabled a more natural customer support experience. No matter where your customers go for support, you should have a plan in place. 53% of customers are likely to abandon a purchase if they can’t find an answer to their questions, making live chat support invaluable for getting sales. This technology provides an authentic and high-tech way for business leaders to connect with customers to deliver automatic and real-time feedback and assistance. Rather than relying on human inconsistencies, these bots are programmed to give customers exactly what they need when they need it. Because the communication is so genuine and natural, many customers do not know that they are talking with a bot and not an actual person.
Reaching Younger Demographics
Millennials and other younger segments of the consumer population prefer communicating with a chatbot over the hassle of making a live phone call. By implementing this technology, business leaders are leveraging an audience with a high amount of purchasing power. Because younger consumers are not usually impulse-buyers, they demand the researched and detailed information that bots can provide them.
Savvy business leaders understand the importance of embracing emerging technologies such as the expansion of bots. By incorporating these new processes into your everyday business practices, you can save money and deliver a more streamlined and consistent experience for both customers and employees.