June 6, 2024
Do you want to transform the way you manage customer communication and improve customer experience?
Success of every customer facing business depends on its ability to provide an excellent customer experience to its clients. This means improving the operational efficiency of their customer communication processes.
Yet, even after having a sound customer communication management (CCM) process, organizations struggle with efficient management of communications through mobile, social media, emails, and IVR. Because manual processes are slow, is prone to errors, and create unsatisfied customers and cost a substantial revenue loss.
What is the solution?
Efficiently manage the huge amount of data and validate in terms of correctness, duplicates data and arrive at the correct recommendation is possible only through Artificial Intelligence (AI.)
Complement your Customer Communication Management with Robotic Process Automation (RPA)
RPA can help reduce human-hours spent on validating information for communicating with customers yet maintain positive customer experience. Because, when manual validations are removed, and communications are correctly analysed the customer communication is bound to improve.
A CCM platform can maintain high-class communications between a business and its clients. Complimenting with RPA just makes it better and more efficient. It employs a type of AI called software robots or bots to perform following given company procedures in the form of templates.
So, you get the ability to:
- Automate responses and streamline marketing operation
- Send requested resources
- Receive, store, and organize customer input
- Send alerts for further action
- Improved workflow:
Also, in combination with machine learning RPA helps companies to perform higher-order tasks with Artificial intelligence (AI.) The rule-based decision-making capability of AI and standardised workflow removes silos and improves user experience. The improved efficiencies and transparency and reduced dependencies (in case of attrition) empower teams find solutions to any business problem.
For example, RPA with machine learning helped Fidelity emails tagging and rerouting to the proper channel. It brought down processing speed from 45 hours to just 3 seconds.
Already Have CCM? Just Add RPA
RPA automates on top of existing (legacy) software systems. So, if you already have a CCM platform, you already have won half the battle. Just find an expert vendor to implement RPA because most CCM software has built in automation capabilities.
RPA enhances existing capabilities:
- Improved WOM (Word of the mouth): Direct customer communications like answering queries and better engagement with customers.
- Improved Efficiency: AI-powered process mining helps the sales force to have customer historical data at hand. Reports are accurate and without human errors.
- Become more customer focussed: Being free of repetitive tasks they dislike employees can provide personalized attention and quality service to customers. Even Back office resources can be deployed in front-office roles and can be trained to manage complicated customer demands.
- Refine Customer Communication: The speed of RPA will allow employees to spend more time on face-to-face customer interactions. This helps develop soft skills for better communication and customer satisfaction.
- Ensure Business Growth: RPA eliminates manual copy-and-paste mistakes when same data is entered into multiple systems. Reduced error and refined customer communication grows your business faster.
- For example: Safe-Guard Products, a North American based insurance company reduced the time to process a claim by 75%. Their overall productivity and capacity to manage claims were increased by 30%.
- Track Operational Efficiency Quickly: Automation makes tracking operational efficiency of bots is much easier than tracking human efficiency.
- Efficient Finance and Accounting: A substantial percentage of daily bank reconciliations is automated through mere mouse clicks, keystrokes, hitting buttons, template auto-fill, copy-pasting information, field-entries, and more. So transactional expenses and policy-cost footprint is reduced.
Are these mere words?
Let us take the example of any traditional insurance company challenges:
- Risk appraisal in underwriting is dependent on predetermined criteria which is time consuming.
- Huge amount of data comes from unstructured sources. Therefore, for traditional insurers, claims administration is slow and prone to errors.
- The above challenges create poor customer experiences.
How RPA Can Help if added to a CCM Solution?
- RPA streamlines claim registration and processing by integrating the unstructured data and reduce underwriting time and claim processing. Automation populates fields in internal systems with pertinent data, generate reports, or make recommendations while measuring run loss.
- Work processes get automated making quicker data extraction complex error tracking, claim verification, integration of claim-relevant data sources, and more. Faster processing results in better customer experience at a reduced cost.
- The commercial benefits of RPA automation also include processes like claims intake, assessment, and settlement.
- Claim intake is based on correct risk assessment (acquiring and evaluating data from numerous sources are correctly analysed) reduces risks (health risks, financial limits, creditworthiness, duplicate policies etc.) connected with a policy.
- Sales and distribution team can have sales scorecards and sending notifications to agents, ensuring compliance, legal, and credit checks.
- Policy cancelation is quicker, without errors and in adherence to cancellation regulations
- and procedures.
- RPA will ensure regulatory compliance by validating customer information, generating regulatory reports, and send out account closure processing notices. It also ensures customer research, customer data security and compliance checking.
DBP can help you couple your internal CCM process with RPA to ensure:
- Cost optimization
- Competitive edge
- Increased Customer Engagement
- Maximised the customer lifetime value
- Greater ROI
Interested to discuss more, please feel free to contact the author at ashish.bhalla@dbppl.com
About Ashish Bhalla
Ashish has almost 30 years of industry experience in a wide range of business solutions primarily focusing on end-to-end customer experience management. He is the founder and CEO of Digital Business People (DBP), an omni-channel customer experience management company headquartered at Singapore with it’s development and delivery centres in India.
To know more please visit us at www.dbppl.com or write to us at contact@dbppl.com