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Chatbots are increasing the ROI of enterprises- Here's How!

Chatbots are increasing the ROI of enterprises- Here's How!

Thursday June 22, 2017,

3 min Read

Chatbots are increasing the ROI of enterprises

Chatbots are increasing the ROI of enterprises

Over the past few years, bots have increasingly penetrated the consumer industry and numerous firms have leveraged their usefulness for the benefit of their business objectives. Upon witnessing the impact bots have created in the B2C arena, more enterprises have started to open up and experiment various ways how they can fully leverage the functionality of bots within their operations. This has also opened up more probabilities and is making enterprises ponder on how to best use bots to increase their revenue.

Enterprises who have already benefited from the introduction of bots, answered this question by identifying certain areas which could yield great benefits on the long run. According to these enterprises, chatbots helped them in getting a better understanding of their customer needs, assisted them in finding the right product, and guided them in registering their product. Bots can also help companies in providing a wholesome view of all their projects, as they combine the needed historical statistics with the evolving data provided by the employees. Bots can be used as a platform to record all the sales leads that a sales executive accumulates on a day to day basis. From performance assessments of employees to facilitating team building activities, between individuals from different departments, organizations have reaped great efficiency in managing their daily tasks. They are now exploring newer ways on how bots can help them boost their business.

So far, organizations have been successful in reducing the cost incurred on developing new UI platforms. IT departments have been able to optimally allocate resources on critical areas where there is less requirement for human intervention. Some of the significant examples of how bots have fared at various industries are mentioned below.

Chatbots in Finance Industry

Chatbots found their way into the Finance industry as a virtual assistant within Mobile Banking Apps. Bots act as a platform were customers can make the payment of Bills, and transfer and deposit funds. According to a survey done by Abi AI, one of the top most IT firm could save 360,000 hours of manpower by deploying bots which helped them analyse complex legal contracts faster than a human could do.

Chatbots in Restaurants and Retail Industry

The idea of introducing chatbots in restaurant and the retail industry proved to be a smart one, as it has been helping famous food chains in reducing the order time of the customers considerably. Bots also help in saving several employees working hours as well, which in turn made them more efficient.


Chatbots in E-Commerce Industry

Companies in the E-Commerce have already introduced bots into their daily course of business, to bring in more personalised methods of selling to their customers. The bot acts like a personal assistant to the buyers throughout the site and records tailored made information of sizes, colors and brands.

In the B2C space, bots have assisted organizations in multiple ways. From helping companies in improving their task management, upgrading their skills in resource management, resource allocation, money management, to setting up of pools and surveys. Overall, the spread of bots in the enterprise space has created a massive impact recently, and its time organizations identify the potentiality of such forward-looking technologies to adapt into their operations to better perform and thrive in the competitive market.