5 Ways Chatbots Can Benefit Your Business Operations

January 23, 2019

5 Ways Chatbots Can Benefit Your Business Operations

If you are a fan of cartoons and animated movies, you must be familiar with Rosie the Robot Maid in “The Jetsons”, Irona in “Richie Rich”, and the inflatable healthcare robot Baymax in Disney’s “Big Hero 6.”

For many years industries have dabbled with the concept of incorporating robotic assistance in daily human lives. Today they form an intrinsic part of the workforce, undertaking tasks requiring quick results with automated features. Undoubtedly, one of them is the “chatbot.”

You might think chatbots are relatively new, but they are as old as computers. The first trace of a chatbot can be observed in MIT’s Artifical Intelligence Lab with Eliza, created in 1966 to match the human conversations. Chatbot iterations followed with Parry in 1972, Jabberwacky in 1988, and now to our modern day messenger bots.

These bots have been modified over the years to gather better insights from the human brain and to create meaningful conversations. Chatbots are making waves across multiple industries, and not adopting them for your business can be lethal for your brand’s relevance in the market.

Here are some of the most prominent benefits that your organization can enjoy by adopting a chatbot.

1. 24/7 Availability

Unlike humans, chatbots are available 24/7 for 365 days in a year. This improves the overall performance of the organization as they are in customers’ field of vision all the time, ready to help them with their queries and offer services relevant to their requirements.

2. Fast & Accurate Servicing

Paid staff is limited and cannot undertake multiple clients at the same time. Chatbots, however, can engage with various customers at the same time without losing out on precision and time. They are hardwired to perform. And thanks to their AI backed structure, chatbots are continually learning via consumer analytics, further refining their engagement.

Chatbots require maintenance, so it’s an evolutionary process that ensures the customer engagement remains in shape. Hence, chatbots are optimizing both your time and money.

how chatbots help businesses

3. Avoids Redundancy

Chatbots automate many redundant processes that would otherwise require a designated a workforce who would, in turn, require capital investment. Via automation, these processes are executed promptly, which also saves the organization’s time.

For instance, task alerts can be easily automated instead of assigning a team member. Chatbots can also be the face of the organization in the form of customer support and up-sell the company’s products and services (if possible) at the end of the conversation.

4. Seamless Integration

Chatbots are platform-agnostic and therefore, can be easily integrated into with the company’s existing modules. They can be tuned to the websites, tools, customer service orientation, and other business strategies. They save time & effort that would otherwise be invested if working from scratch.

Chatbots can also be deployed for internal communications where it can help employees with payroll processing, leave management, grievances, and much more. Chatbots can ameliorate several processes extensively.

5. Cost Effective

Perhaps the most important benefit chatbots have is the qualitative ability to downsize on expenditure. They slash down redundant, time-consuming tasks and help the workforce by improving turnaround time, increasing ROI by building a rapport with the customer. Chatbots create brand visibility and bring in much-needed traffic to turn up the revenue clock.

In a nutshell, chatbots bring in compactness to business operations, effectively curbing the money spent.

Chatbots, unlike the common perception, are not here to overtake the existing norms but to improve upon them and create spaces for innovations & strategies. Currently, they are fine-tuned via the integration of NLP and Machine Learning to mimic the human conversational abilities and orient themselves for better user engagement for brands.

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