Running a small business is not that easy as it seems to be. You need to operate and work more efficiently to make the best use of your resources. The technology that is making this more effective is Artificial Intelligence (AI).
AI can help you across your back-office operations. Here are a set of few areas in which it can improve your overall business operations.
Human Resources and Administration
For every office function, there is an application in the market. This makes the mobile phones of the entrepreneurs’ mobile phones full of applications. Most of the applications are absolutely free of cost. Some of the human resource applications powered by AI technology can conduct a set of tasks such as scheduling, reminders, employee tracking, as well as accounting.
Some of the applications offer services such as voice activation, which saves you the time required to carry out manual entry work. At the same time, you can make use of the smart voice assistants in your mobile phones such as Siri, Cortana, and Alexa to search the internet just on your voice command.
Marketing tools and applications that are powered by AI capabilities. These tools use data collection and analysis to make smart decisions to enable lead generation, customer personalization, and content creation.
The use of AI in your marketing efforts, as well as back-office operations, increases operational efficiency to a greater extent. These tools will make you smarter at each and every step and will increase your productivity. You will notice a significant impact on your marketing research. The AI technology will make it a lot easier to collect and analyse the vast amount of information which was difficult to achieve in its absence.
AI technology uses data and customer profiles to tell you the best way to communicate with your target audience. You will also be able to track your customer’s buying habits. All this information will help you to develop effective marketing strategies.
Accounting and Bookkeeping are some of the back-office tasks that are monotonous and reparative. This time-consuming work often results in missed or incorrect information filled in the business information system. The best way to improve this operation is through automation. The more you automate it involving numbers, the less likely human errors will occur.
Another way is to sync the accosting functions with your business bank account. This will save a lot of time for you and will also reduce mistakes. You will also be able to manage the cash flows effectively. At the same time, the accounting applications give you access to your bills and invoices wherever you are. Applications such as Bill.com makes the best use of AI to improve back-office operations and offer end to end financial workflow automation capabilities.
When you add the eCommerce sales automation tool to your website, it is almost similar to hiring an additional resource to improve back-office operations. The AI-powered tools are capable of answering questions such as product specifications. They can also suggest some complementary purchase items, as well as direct the website visitors to the correct web pages.
At the same time, the AI-powered chatbots can cut down on the number of questions that are asked by the users saving a lot of time for you. These chats can also reduce your shopping cart abandon rate. AI tools are also capable of collecting customer behavioural data that will help you to understand what your customers are actually looking for.
Source – Small Biz trends