AI: The transformation of admin, sales and reporting
Ambroży Rybicki, CEO and co-founder of ARP Ideas
The rise of AI technology has been extraordinary as big tech companies continue to invest heavily in the industry. Although the technology has been around for a while, it’s currently at the forefront of people’s minds thanks to the likes of ChatGPT, and most recently, Salesforce’s generative artificial intelligence (AI) chatbot, SlackGPT.
However AI is not just confined to Big Tech, all businesses are exploring new ways to optimise and promote their products, services and operations, and calling on new technologies and innovation to do so. With the use of AI, businesses are able to access and utilise different methods from data analytics to building models. As a result, businesses are finding it easier to sort and determine the true meaning of data, providing a platform in which to improve the status of business reporting. So, as the technology develops, what will AI bring to the future of business reporting?
Cost Savings
Given the current tough economic circumstances worldwide, businesses are continuing to look at different ways to cut expenditure and save costs; particularly within more creative departments such as marketing and content creation. To combat this, AI can increase both the efficiency and strategic areas of marketing by providing more significant insight into customers journeys, activities and preferences. As a result, companies can reduce their outgoings on ineffective costs, for example on campaigns that do not generate adequate sales.
AI can also improve cost savings through appropriate staff allocation. By automating particular tasks, businesses can save on costs associated with bringing on more staff whilst also driving sales in more strategic ways to connect with customers.
Enhanced Customer Experience and Sales
Whilst AI helps businesses to save costs, it can also be utilised to drive customer sales and experience. Combining AI and Microsoft Dynamics 365 Sales, for example, enables sellers to obtain an all encompassing view of the customer, learning more about customer history, identifying the best option and accessing information from various sources of data. From this, the sales process can become significantly more efficient and personalised; driven by insightful customer information.
Similarly, AI can also help to develop an in-depth prediction model for sales. Utilising technical and basic data, AI can analyse and find patterns that may not be visible on first glance. From this in-depth AI analysis, companies can build a prediction model that identifies these trends, then allows them to plan growth expectations for future sales, and account for the necessary supplies and services to fulfil them.
For customer experience, AI can transform the process of communication by providing quick responses to customer queries, ensuring businesses can provide customer support 24/7, as well as shortening response times. Through the combination of AI and platforms like Microsoft Dynamics 365 Customer Service, businesses can obtain a competitive advantage over other companies in the market by providing better customer service and therefore garnering higher rates of customer loyalty and satisfaction.
Improved Accuracy
A key feature of any business is admin work, usually involving repetitive tasks and countless data. As a result, issues like typing errors or miscounting are likely to occur. AI can help to combat this, automating admin tasks and gradually reducing the risks associated with human error. As a result, businesses can trust the reliability of the information developed, allowing them to focus their efforts on other jobs.
Report Generation
It is important to note the capacity of AI beyond data sorting, providing customer support and speeding up sales processes. In fact, it can also complete detailed reports based upon its in-depth data analysis, resulting in actionable insights for businesses to address and staff to make informed decisions on.
For example, by using solutions such as Power BI, companies can benefit from in-depth data analysis tools which aggregate, analyse, visualise and share the data before AI provides further insight through its report generation function.
In summary, AI technology is rapidly advancing and furthering business reporting as well as boosting business efficiency, furthering customer service and supporting sales.
As we look towards the future, it is clear that these technologies will be increasingly present within the workplace, particularly when it comes to streamlining business admin tasks and reporting – reducing challenges and allowing businesses to focus on the more fruitful and complex work.
