Banks are always under constant pressure to control their costs and time savings. As the competition intensifies, banks must adapt and be agile enough to evolve constantly. Often this demands strategic decision making as the business leaders must check all the financial processes and recommendations based on the latest trends and data. Interestingly most of the banks are looking to modernize their procure-to-pay (P2P) processes.
Banks and financial institutions are the perpetual engines of the economy. However, they are often the ones who also bear the brunt of any fallout that affects the economy. Covid-19 has caused chaos all over the World, and organizations have significantly adapted to the latest technological features to upscale their operations. This pandemic has also empowered financial institutions to shift their nature of doing business. Extensive lockdowns have reduced the availability of resources and key personnel during the vital decision-making process.
When organizations undergo expansion, they are forced to deal with the passive manual process for managing their vendor payments, complicating their business process due to the lengthy, time-consuming methods and complexities involved. After a point, one will realize that it is impossible to keep track of the expenditures through excel sheets since the data keeps piling up. The more the information, the more the confusion and potential for making errors.
In today’s demanding world, IT plays a pivotal role in delivering competitive advantages to companies. Fuelled by the organizations’ race to digital transformation and the growing number of millennial employees, IT desks feel the heat to provide quicker, better, reliable, and convenient support. With technology fast-becoming an ally for the digital natives, service desks that adopt a traditional model may prove too little. Some of the challenges being long and delayed queues, siloed knowledge distribution, single communication channel, agent boredom, to name a few.
Higher user expectations. Increased responsibility. Staying abreast of the latest technology but within the budget. Limited resources to offer cost-effective solutions. Wrestle with loads of daily requests.
Yes, you heard it right! These are a few challenges faced by IT Service Desks.
Keeping your IT Desk running smoothly can be an endless challenge. And the only solution is - Automation.
Artificial Intelligence (AI) and Machine Learning (ML) is no more a fairy-tale, we see them everywhere around us. Right from helping us to know the delivery time of our ordered food, suggesting friends on social media, recommending products on e-commerce sites, to our very own personal assistants like Siri, Cortana, etc., AI has managed to influence our daily lives immensely.
If we were to decide on one crucial part of a successful business journey, it would be customer engagement. A customer-centric company’s focus should be supporting the customers throughout the business lifecycle. But as the number of customers grows in volume, organizations struggle to provide instant support even to customers’ generic requests. In this age, when almost all the tasks are automated, when interactive communications have become rare, a question arises whether it is possible to build a long-lasting customer relationship.
NLP is a type of Artificial Intelligence that provides machines the capability to read, understand and interpret the meaning from human languages. For instance, Amazon’s Alexa understands what we say and knows how to respond. Interestingly, Gartner predicts that 30% of our interactions with technology would be through “conversations” with smart machines.
By implementing NLP, your business can organize their large amounts of unstructured data, like emails, social media conversations, online chat conversations, etc. to gain insights and take valuable business decisions.
Do you know 62% of workforce believe that AI will carry a favorable impact on their jobs? And 67% say it is necessary to develop the skills for working in coordination with intelligent machines.
We are fighting battles everyday, trying to develop the business, beat the competition and sometimes even trying to survive. If your technology is not supporting your business and your customer needs, then you are on the backfoot.
Sensiple along with Microsoft empowers your organization and accelerates Agent & Customers experience as the Modern/Digital workspace continue to evolve. We continue to accelerate employees work environment to create an agile, high performing & Empowered workforce.