human handoff bots Archives - BotCore Enterprise Chatbot Fri, 15 Mar 2024 10:02:51 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.1 https://botcore.ai/wp-content/uploads/2020/02/cropped-favicon-32x32-1-70x70.png human handoff bots Archives - BotCore 32 32 Building A Resilient Customer Service During Uncertain Times https://botcore.ai/blog/customer-service-during-uncertain-times/ Wed, 20 May 2020 14:09:00 +0000 https://botcore.ai/?p=5810 Building A Resilient Customer Service During Uncertain Times The onset of the Covid-19 pandemic has posed some unprecedented challenges to both public and private organizations. Measures implemented to control the spread of the virus and the impact caused by them have created confusion, uncertainty, and fear amongst consumers. The immediate need for clarity among customers […]

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Building A Resilient Customer Service During Uncertain Times

The onset of the Covid-19 pandemic has posed some unprecedented challenges to both public and private organizations. Measures implemented to control the spread of the virus and the impact caused by them have created confusion, uncertainty, and fear amongst consumers.

The immediate need for clarity among customers on a variety of issues, from loan payments to booking flights, from cancellations to insurance claims and mortgage payments, has led to a huge spike in the number of calls received by the contact centers. A majority of customers prefer call support as their initial channel of communication since it allows for greater flexibility and provides a human touch.

Customers want an opportunity to explain, reason or negotiate with contact center agents. Also, they generally prefer to solve urgent issues by calling for support rather than use other channels.

Many organizations across industries are ill-equipped to deal with such a massive increase in call volumes, leading to longer wait-times as the support staff serves other customers.

Adding to the turmoil is the need to comply with social distancing norms that have forced the support staff to shift to a work-from-home setup. Moreover, there is a shortage of service staff as workers fall sick and are unable to report to work.  

The pandemic has brought to the forefront the pressing need for businesses to be empathetic towards the needs of their customers while also implementing significant changes in their operational setups.

In times of crisis, a business’s ability to provide quick and compassionate service will enhance its brand value and go a long way in building a loyal customer base.

The obvious question, which then arises is, “How can an organization respond to these challenges?” Let’s find out.

The To-Do List: Addressing Key Challenges

Before delving into the potential solutions, it is imperative to understand the key areas of concern that require swift action by the organizations. These include –

  • Enhancing the quality of service by reducing customer wait-times
  • Leveraging automation to control the average wait-time
  • Adopting digital and self-service channels to address repetitive issues
  • Ensuring the availability of consistent and accurate information to customers
  • Ensuring scalability to meet the increased demand for customer support
  • Facilitating personalized customer experiences 24×7

Building A Resilient Customer Service

To navigate through the crisis, organizations must modernize their existing IT infrastructure. As a part of this modernization process, our customers and several large enterprises are adopting a myriad of advanced technologies. But the most popular of them are conversational AI and data analytics. 

The combination of these technologies is enabling companies to effectively manage the growing demand for customer support, while reducing the burden on the support staff. 

While analytics provide insights on the changing customer behaviour, emerging customer issues and common roadblocks in customer service operations, conversational AI can be used to deliver the first line of service and improve agent productivity.

1. Use Data Analytics To Enable A Forward-Thinking Approach

Utilizing data to the fullest has never been more important. In the midst of this volatility, contact centers must utilize data to

  • Predict customer demand
  • Predict workforce supply

         This can be done in the following manner –

  • Predict Customer Demand: Forecasting models used prior to the pandemic are no longer viable to use. To predict the volume of calls in the new normal, data related a region’s economic activity and population health must be analyzed. Additionally, companies must also analyze the data pertaining to customer demographics, impact due to company actions, the volume of COVID-19 related calls in other virus-affected areas, PHI data, social media sentiment data, data derived from agents, etc. By analyzing this data with predictive and prescriptive analytics, companies can be better prepared to manage the influx of call volumes.
  • Predict Workforce Supply: A similar approach can be taken to predict any deviations in the planned workflow supply. Factors like workflow demographics, the spread of the virus in areas where members of the staff reside, etc. must be considered to predict the availability of contact center staff.

In addition to these two approaches, analytics can also be used to identify and deflect non-critical calls, requests and contacts to virtual agents or other self-service channels.

2. Use Conversational AI To Deliver Service At Scale

Conversational AI is an advanced technology that enables computers to process, understand and respond to text or voice inputs in natural language. Conversational AI platforms can be used to build conversational user interfaces, chatbots and virtual assistants which can be integrated with messaging platforms, social media platforms, SMS, and website chat.

Conversational AI technologies like chatbots and conversational IVR are designed to understand and provide answers to customer queries with minimal agent intervention. They can act as first line of support and improve the productivity of human support staff in the following ways –

  • Using data analysis, organizations can identify the primary reasons customers are reaching out to the support staff and can employ a dedicated chatbot on the website or mobile app to answer the repeat queries. This will allow the service agents to focus on the more critical and complex customer needs;
  • Conversational IVR systems which are enabled by Natural Language Processing (NLP) can handle the sudden surge in calls and reduce panic among the customers;
  • Chatbots can also monitor conversations and inform organizations about the frequently asked customer queries;
  • Bots can draw up the relevant knowledge and background information from CRM systems to assist contact center agents in servicing customers quickly. This will improve first call resolution rates
  • They can transfer calls or conversations to the right agents in case of more complex queries that require human attention

Learn More: Human Handoff In Service Desk Bots

To realize the potential of chatbots completely amid this crisis, organizations must be mindful of a few things –

  • Time is of the essence when implementing conversational AI solutions. It is prudent for the organizations to quickly set-up and adopt the technology to keep up with the rapidly evolving needs of the customers. Hence, there is a need for low-code bot-builder platforms like Acuvate’s BotCore or Microsoft’s Power Virtual Agents for quick deployment of virtual agents.
  • While designing chatbots, it is crucial to be sensitive to the customers’ emotions and feelings. For this it is necessary to use empathetic language and be proactive in answering the customers’ queries.Using sentiment analysis in chatbots can enable them to understand human emotions.
  • Offering personalized solutions is the key to gaining the customer’s faith. The chatbot must integrate with third-party databases to draw up relevant background knowledge. This helps in providing personalized solutions that are specific to the needs of the customer. This reassures the customer that he is understood and valued by the organization;
  • Consistency of information is the key to superior customer service. The information provided by chatbots must align with the information given by call center agents to avoid any confusion or misunderstanding.
  • The chatbot must stay up-to-date on the needs of the customers. Drawing up the old chatbot conversation data helps the organizations in understanding the frequently asked topics. They can then stay relevant by designing new chatbot conversations and workflows to address these issues.

Learn More:

There are several real-life scenarios where companies have adopted chatbots amid COVID-19 to keep up with the growing customer needs –

  • Bank of America introduced its chatbot ‘Erica’ inside its mobile banking app. From providing balance information, tracking spending trends to suggesting ways to save money to providing personalized recommendations, Erica has been helping customers address their banking problems. Erica added 1 million users a month from March through May 2020.

Since March, it has assisted 350,000 clients who had trouble meeting their credit card, auto loan and other payment obligations, thereby reducing the call volume to the bank’s contact centres.

  • Reliance General Insurance – A large insurance company based in India, Reliance General Insurance deployed an NLP based chatbot called RIVA, which is available on the company website, WhatsApp and Facebook Messenger. RIVA can generate a policy quotation, accept claim intimation, and provide a soft copy of the claim and policy in less than a minute.

The bot has handled more than 20,000 transactions handled monthly and 70% of chats handled have an average handling time of less than 2 minutes. The bot reduced the company’s operational cost by 60%.

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We, at Acuvate Software, are helping clients to streamline their customer service operations and reduce costs through our chatbot-builder platform called BotCore.

BotCore presents several benefits – (i) it is an intuitive, no-code platform to easily build AI-powered bots, (ii) it is versatile and can seamlessly integrate with existing legacy systems and AI services, (iii) it allows the connection of existing bots across different departments to create a strong digital network, (iv) it is deployable on both on-site and cloud environments, (v) it facilitates the creation of chatbots that can simulate highly complex conversations.

Get Started

The pandemic has accelerated digital transformation initiatives in different functions of an organization and customer service is no different. To build a resilient customer service and infuse agility in day-to-day operations, organizations must continually evolve and adapt to the changing times. They must revamp their existing IT infrastructures to manage the pandemic-driven needs of the customers.

This response to the crisis is likely to transform the future of customer service forever. Adopting conversational AI and data analytics is a good starting point for organizations looking to transform their operations.

Since it is hard to predict the end of the crisis, organizations must plan both for short-term continuity as well as enabling long-term operational changes.

If you’d like to learn more about this topic, please feel free to get in touch with one of our chatbot experts for a personalized consultation.

The post Building A Resilient Customer Service During Uncertain Times appeared first on BotCore.

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How Banks Are Leveraging Conversational AI Amid COVID-19 https://botcore.ai/blog/conversational-ai-amid-covid-19/ Wed, 06 May 2020 06:04:00 +0000 https://botcore.ai/?p=5805 How Banks Are Leveraging Conversational AI Amid COVID-19 The onset of the COVID-19 pandemic has brought some unprecedented business issues to the forefront. One of the major industries that is compelled to accelerate its digital transformation initiatives is banking. As social distancing becomes the new norm, the need for digital banking services has increased manifold. […]

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How Banks Are Leveraging Conversational AI Amid COVID-19

The onset of the COVID-19 pandemic has brought some unprecedented business issues to the forefront. One of the major industries that is compelled to accelerate its digital transformation initiatives is banking.

As social distancing becomes the new norm, the need for digital banking services has increased manifold. With businesses significantly impacted due to the disruption, a large number of customers are seeking extensions on loan installments and mortgage payments.

Customers are also seeking small-business loans, thus giving rise to a significant number of applications awaiting approval at the banks. A delay in grant of loans affects the customer’s ability to continue business. Moreover, some retail customers may want to capitalize upon the business opportunities created by the pandemic.

For instance, governmental regulations like the CARES Act passed by the United States Congress are putting immense pressure on banks to process two decades of small-business loan applications in a single month. This massive surge in demand has overwhelmed banks which haven’t adopted automation in their operations.

All this has led to an unprecedented increase in the number of customer calls to banks’ contact centres. This causes hours of wait time to connect with an agent, delays query resolution, causes dissatisfaction among the customers, and hence tarnishes the bank’s reputation. In times of uncertainty, limited access to banking operations can also severely hamper customer morale and alleviate anxiety levels. 

In times like these, deploying conversational AI platforms can infuse agility in day-to-day customer service operations. This enables agents in improving their productivity as they can focus on the crucial tasks, while leaving virtual agents to deal with basic or repetitive queries.

Navigating the Pandemic: Key Challenges facing Banks

In the wake of the pandemic, the banks are facing several critical challenges in servicing their customers –

  • During crises, customers prefer the human touch, thus resort to verbal communication channels to resolve their queries. However, customer care centers lack the capacity to serve the increased volume of calls;
  • Shortage of contact center staff due to stay-at-home orders or workers falling sick;
  • Contact center staff may lack the expertise to answer the wide variety of questions;
  • Remote working poses additional operational challenges related to device, technology, network, etc.
  • Dependence on legacy systems

To tide over these problems, it is imperative for banks to opt for conversational AI to support the evolving customer needs.

What is Conversational AI?

Before delving deeply, let us first understand the concept of Conversational AI.

Conversational AI is an advanced technology that enables computers to process, understand and respond to text or voice inputs in natural language. Conversational AI platforms can be used to build conversational user interfaces, chatbots and virtual assistants which can be integrated with messaging platforms, social media platforms, SMS, and website chat.

Conversational AI in Banking

As discussed above, the current scenario is posing some tough challenges to banks.

It takes years to build brand loyalty. Inability to service the customers during a crisis can negatively affect the bank’s brand image.

Some areas where banks can leverage the functionality of conversational AI are as follows-

  • Conversational IVR:

    Conversational AI platforms that use natural language processing technologies can be integrated with the IVR systems. These conversational IVR systems will answer repetitive questions, handle a sudden surge in calls and prevent panic among customers.

  • Website Chatbot:

    Banks can detect the top reasons customers are reaching out to contact centres and deploy a dedicated web interface chatbot which can address these concerns and related FAQ. Routine questions which the contact center receives can be routed to this web chatbot. This will allow the service agents to focus on complex queries and reduce wait times.

  • Assisting customer service agents:          

To assist the customers in a speedy manner, contact center agents can use chatbots to draw up the relevant knowledge and background information from CRMs and any relevant banking apps. This will improve first call resolution rates. Additionally, conversational AI technology can monitor conversations and inform agents about what customers are asking frequently.

Learn More: CRM Chatbots

  • Scheduling appointments and meetings:

    In order to comply with the social distancing rules, banks need to restrict the inflow of customers into their branches. Firms may use chatbots to schedule the customer appointments.

  • Transferring calls to the relevant agents:

    For complex queries that need human attention and based on the nature of the queries, bots can be optimized to transfer the calls to the right agents. For instance, a highly complex query can be transferred to an agent with a low average handling time. In addition to this, video calls with the agent can be initiated for the most complex service requests.

Learn More:

Examples Of Banks Using Chatbots To Tackle COVID-19 Challenges

Several banks have already implemented chatbots in their customer service operations to fight the COVID-19 disruption, including –

  • Bank of America – Bank of America introduced ‘Erica’ inside its mobile banking app. From providing balance information, tracking spending trends to suggesting ways to save money to providing personalized recommendations, Erica has been helping customers address their banking problems via text or voice.

Due to the increased number of customers looking for personal finance services amidst the pandemic, Erica added 1 million users a month from March through May 2020.

Since March, Erica has assisted 350,000 clients who had trouble meeting their credit card, auto loan and other payment obligations. The bot also learns from the conversations and can now understand more than 60,000 COVID-19 related terms and requests – thereby reducing the call volume to the bank’s contact centres.

“We think of Erica’s ability to deliver insights as the ability to deliver advice at scale,” says the bank’s CIO, Aditya Bhasin.

Learn more: Customers bank on BofA chatbot amid pandemic  

  • Standard Bank (South Africa) – Standard Bank South Africa launched a COVID-19 chatbot on WhatsApp in April 2020. This chatbot provides information about – (i) banking services available during the lockdown (ii) answers to FAQs (iii) debt relief offered by the bank to clients whose income is affected due to the virus (iii) measures taken to curb the spread of the disease at Standard Bank locations (iv) the bank’s contribution to the economy and the government, and (v) updated information on COVID-19 in South Africa.
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Introducing BotCore

We, at Acuvate Software, are enabling clients to build AI-powered bots through our low-code, intuitive bot-builder platform called BotCore.”

BotCore offers several benefits:

  • Intuitive, no-code interface simplifies and accelerates the creation of chatbots;
  • Users can build bots to handle the most complex conversations
  • Using “Cognitive Abstraction”, BotCore can leverage any available AI service. It can aggregate LUIS Bots, QnA Maker Bots, Power Virtual Agents and other third-party bots;
  • It allows the creation of virtual assistant network through connection of existing bots across different departments;
  • It is a globally competent solution that works seamlessly with existing legacy systems and LOB apps;
  • It enables users to customize bots to match the branding and culture of the organization;
  • It works well with any kind of data source and also integrates with your existing Microsoft AI cognitive services.

BotCore is platform-independent, and hence deployable on both on-site and cloud (Microsoft Azure) environments.

Get Started

The new normal  necessitates the intervention of conversational AI in banking. It is essential to reduce call volumes and waiting times in day-to-day functioning of customer support centers. This will allow agents to focus on more critical tasks that require human judgement. It will also ease the financial burden of banks to deliver superior service and pave the way for stronger and more positive customer relationships post COVID-19.

If you’d like to learn more about this topic, please feel free to get in touch with one of our experts for a personalized consultation.

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10 Powerful Benefits Of Chatbots In Customer Service https://botcore.ai/blog/10-powerful-benefits-of-chatbots-in-customer-service/ Thu, 12 Jul 2018 11:34:00 +0000 https://botcore.ai/?p=122 10 Powerful Benefits Of Chatbots In Customer Service Thanks to artificial intelligence and machine learning technologies, today’s chatbots have become invaluable tools for customer service operations. They are not only streamlining and optimizing customer experiences at every stage in the service process but are also proving to be helpful aids to customer service representatives. Here […]

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10 Powerful Benefits Of Chatbots In Customer Service

Thanks to artificial intelligence and machine learning technologies, today’s chatbots have become invaluable tools for customer service operations. They are not only streamlining and optimizing customer experiences at every stage in the service process but are also proving to be helpful aids to customer service representatives. Here are 10 powerful benefits of adopting chatbots for customer service:

24/7 CUSTOMER SERVICE

Maintaining a support team that can care for customers at all hours can be very costly, but customers’ needs may arise outside of business hours. Frustration can build when problems are not addressed immediately, so providing a way for customers to ask questions and get answers at any time can be a major relief and a way to increase satisfaction as well as customer retention. Because chatbots allow customers to get help at any time, businesses can leave a positive impact on their minds even if service staff are unavailable.

RESOLUTION SPEED

A direct result of 24/7 availability is the obvious benefit of increased resolution speed. Quick response and fix to a problem can be the difference between keeping a customer or having them abandon a service. A chatbot can tap into a database and provide answers to questions immediately, at any time. Even if a human agent needs to intervene and provide further support, chatbots cut the workload and allow agents to focus on the more critical steps in finding solutions to customers’ problems.

INSTANT RESPONSE

As previously mentioned, even if chatbots can’t solve a problem immediately, they can at least provide an instant response relevant to the customer’s query. Customers do not like to wait for help but staffing costs do not justify keeping a large enough live team at all hours to guarantee that they get help immediately. Chatbots can be the first point of contact, reduce customer frustration, and fill in for agents when needed. Even if a follow up is required, the customer can feel well cared for due to the quick initial response.

REDUCED OPERATIONAL COSTS AND IMPROVED MORALE

One of the most immediate benefits of chatbots is monetary. Chatbots reduce operational costs by reducing staffing needs. A full-time support team is costly, so leaving the after-hours support to a chatbot provides enormous savings. Also, chatbots can handle tedious and repetitive tasks so human agents don’t have to. Agent productivity increases as they don’t have to answer repetitive and basic questions of customers. This saves time and money but also has the added benefit of positively impacting employee morale. People are much happier when they don’t have to reset passwords 100 times a day, for example.

LANGUAGE SUPPORT

Chatbots handle thousands of customer queries at once in multiple languages. They can not only work with several languages, but they can even understand different intents. This makes them very versatile and useful, especially for global companies. Sometimes it’s hard to find speakers of some languages, so these bots are a good alternative. While they cannot fully replace fluent human agents in all circumstances, they reduce the need to employ multiple language speakers as staff at all times.

CONSISTENCY AND ACCURACY (EVEN IN THE MOST REPETITIVE, LOW-VALUE TASKS)

The workload can be strenuous and tough on agents’ performance, especially when having to work on the same tasks over and over. Furthermore, they may sometimes experience off days, when they may not work to their full capacity. Chatbots have the benefit of needing no breaks and performing at the same level regardless of how many times they have to repeat an action.

DATA GATHERING OPPORTUNITIES

For people, it is hard to remember every part of a conversation, and it is even harder to analyze all the details in order to improve services and better meet customer expectations. Some chatbots, however, have the ability to gather analytics and can be trained to do so on the spot. Chatbots also give consistent responses that can be used to test customer responses without bias. This allows businesses to improve their service strategies.

REDUCED IVR FRUSTRATIONS

Most customers loathe the dreaded use of interactive voice response (IVR) systems during phone calls. Having to listen to the menu and being unable to get a personalized response is frustrating. To some people, it is even downright insulting. IVR systems are also too structured, and oftentimes leave no room for special requests or unique scenarios. Customers have very few choices and sometimes end up being routed to the wrong help team. Chatbots can fully replace these outdated systems. Customers can still be routed to the right team without the intervention of a human agent, but they at least feel like they are being cared for and understood. Finally, using a chatbot also reduces the time and cost associated with transferring a customer between different departments, especially if some of these transfers are wrong.

LESS CUSTOMER STRESS

Reducing stress and frustration happens on many different levels, not only when substituting IVR systems. Some customers may experience anxiety when having to contact the help department and explain their issue, for example. Having the option to speak to a chatbot instead reduces these fears. The immediate response and overall reduced resolution speed also lessen the negative emotional response that some customers may have. Chatbots streamline the entire customer service process and help keep customers happy and satisfied.

BETTER SELF SERVICE

Finally, while chatbots can help route customers to the right hands, some customers would rather find the solution to their issues independently. With improved machine learning technology, chatbots can direct customers to answers that will help them solve their own issues or gather the needed information. This helps keep a high level of customer satisfaction while simultaneously decreasing support tickets.

FINAL CONSIDERATIONS

Chatbots are becoming essential for a well-rounded and solid customer service strategy.
As you can see, chatbots provide responses and help that can either strengthen or substitute the need for two-way human intervention. This cuts operational costs and also leads to much greater levels of customer satisfaction.

Read more: Chatbot Technology: Past, Present, and Future

BOTCORE – AN ENTERPRISE CHATBOT BUILDER PLATFORM

If you’re planning to customer service chatbots, you might be interested to check out our enterprise chatbot builder platform – BotCore which can be deployed both on cloud and on-premise environments. BotCore helps large and medium sized companies reduce customer service costs, improve agent productivity and enhance customer experience.

If you’d like to learn more about this topic, please feel free to get in touch with one of our experts for a personalized consultation.

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