Chatbots in Enterprises – Its Challenges, Benefits and Applications

Chatbots are widespread and one of the integral elements of everyday business, including Enterprises and small businesses. Today when the entire business sector is going through tough competition, innovative technologies are the only way to stay intact and competitive. In short, competition in the industry makes it mandatory for enterprises to adopt innovation. The earlier you embrace the unique trend -innovative technologies, the higher you grab the opportunity to earn maximum profits. At the same time, technology is helping enterprises maintain the business process in the long run.

As the technology advances, chatbots have also gone through significant transformation and now it powered by AI, NLP, and much more to make conversation between machines and human nature, interactive and informative.

For the past couple of years, a chatbot is expanding its utilization across the large sectors of industries, business enterprises, and other SMEs. Business owners at large are exploring its potentials into their business and implementing the technology for a better outcome. So, in this article, we will be discussing chatbots, its challenges, benefits, utilization, and applications. While going through this article, you would be able to understand how useful a chatbot app will be for your Enterprises Mobility Solutions.

Why Chatbots in Enterprise?

80% of business enterprises worldwide want to implement chatbots by 2020._**

50% (more than half) of total online shoppers prefer to shop through chatbots._**

63% of consumers prefer to communicate with brands of business through chatbots._**

Business enterprises in the USA have recorded highest retention rate after implementing Chatbots and if statistics are to be believed, then by the end of 2020, you would find people doing communication with Chatbots more than their friends, relatives, and spouse. In short, Chatbots are interactive, especially AI-powered Chatbots , communicate utilizing natural language processing.

What Challenges Business Enterprise Facing for Want of Chatbots?

Initially, industries or enterprises used to implement Chatbot just for customer care conversation, but gradually, it has become a much bigger strategy, allowing enterprises to do away with many challenges they have been facing. In the next paragraphs, we will be discussing the challenges enterprise facing and the solutions they have got after implementing the Chatbots.

Challenge #1

Lack of personal Assistance:

As an enterprise, you cannot provide personal assistance to each of your team members unless you get enough ROI (Return on Investment). Even if it is possible, there would not be enough space to have such facility, through personal assistance is the need of the time as it helps your business function smoothly.

As an enterprise, you cannot provide personal assistance to each of your team members unless you get enough ROI (Return on Investment). Even if it is possible, there would not be enough space to have such facility, through personal assistance is the need of the time as it helps your business function smoothly.

Solutions

That’s where Chatbot jumps in, acting as personal assistance to your every team member, helping them every piece of information they require. Chatbots turn into virtual assistants for each of your employees and help them remain focused on the essential tasks. With the support of Chatbots, they can undertake plenty of important tasks that include;

• Setting alarm
• Scheduling meeting
• Canceling scheduled meeting
• Make an edit in the scheduled meeting if required
• Scheduling business travel including booking tickets and accommodation

Challenge #2

Lack of On-Demand Customer Support:

If you are dealing customer-centric business, then active and robust customer support team is a must. You need to a large workforce to provide on-demand customer support 24/7, and that is not possible for every business enterprises unless you are capable enough to bear some extra cost.

Solutions

Chatbots, especially the AI-powered chatbots, represent your business 24 hours a day and address every need of your customers. For example, your chatbots can help your customer lodge complaints, know their complaints status, even book services and do shopping, though you need to have advanced AI and NLP-powered chatbots are extremely capable of initiating a formal and casual conversation by customers. The latest chatbots are intelligent of understanding your customers’ behavior, their emotions, and others. Interestingly, the latest AI-powered chatbots can understand slang such as emojis, commas, and the use of punctuation. Using chatbots in your Enterprise CRM Solution is thus beneficial to you.

Challenge #3

Lack of In-Depth Product Knowledge :

There are thousands of products an enterprise has and that create some issues to customers as well. It may create difficulties for customers as they may not know where to begin their searches. The lack of clarity invites difficult situations. These are general issues, and your customer care team will get loaded with lots of work.

*Solutions *

When you deploy Chatbots, they help your customers find and select the right products. You can find thousands of chatbots only on facebook messenger that have implemented by various brands to help customers solve their issues. At the time, these chatbots help them place an order, make payments, and much more. Besides, you can also deploy the chatbots to your sites, which will help customers right from the beginning and provide a better shopping experience. Customers can ask any questions about the machine as they shop and get prompt help. These are the chatbots which can be deployed across all enterprises. It will not only boost your customer base slightly it will increase sales too.

Challenge #4

Lack in Smooth Business Processes:

(If you are not technologically equipped) You can find most of your employees spending their important time in completing mundane, repetitive, yet essential tasks. Due to which your employee don’t get enough time to focus on revenue-generating activities. So, the bottom line, there are plenty of things and activities which essentials, but you can find alternatives to handles such tasks instead of deploying significant workforce.

Solutions

The latest and technologically advanced Chatbots can be replaced for all these tasks and free your workforce for more productive works and activities. Chatbots can help your staffs carry out many tasks, whether it is conducting keyword research, chasing clients, and much more.

Challenge #5

Poor Performance of HR and IT Department:

If you have a large number of employees, then it is inevitable that your HR and IT departments will get a lot of pressures from the team in the enterprises. Solving their issues is important and that will take time, no doubt. At the same time, answering questions asked by employees will consume lots of time to the concerned departments as they need to search through specific information asked by the individual employee.

Solutions

Now, you have chatbots which is capable of using internal data, give instant responses to your employees to their questions. So, that will help your HR and IT departments focus more on other activities.

Challenge #6

Handling Data:

There are plenty of data generated by enterprises, and that is sometimes beyond the workforce to handle it correctly. Enterprises get data from various resources such as a large number of customers, employees, processes, etc. and analyzing and putting them right in order can be tough tasks. You cannot let go of such sensitive things as most of the data may be having some vital information.

Solutions

When you deploy AI-Powered Chatbots, you need just simple text command and your Chatbot would flick through the data (you require) before you in no time. Chatbots can bring segregated insights reports before you. You get insight reports of your customers’ shopping history, employees, sales and much more. At the same time, you can create a bot which can bring you conclusions of your data.

Challenge #7

Time Consuming Business to Business Activities:

There so many things such as placing orders, making an information request regarding products and services and making payments for supplies, which may be handled by your team, is really time-consuming. A large portion of the workforce is wasted behind these B2B activities.

Solutions

The Enterprise-grade Chatbots can easily handle these B2B activities and your entire work load will be reduced with such chatbot integrated B2B solutions. The chatbots simply automate all these processes by redirecting everything to the Instant Messaging Platform. Having equipped with the latest technology such as AI and NLP, the chatbots could be able to answers all questions, including the products, invoicing, payments, and more.

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Is There Any Challenges Implementing Chatbots in Enterprises?

Technological equipment comes up with plenty of benefits; they come up with some challenges as well. This is exactly the case with conversational equipment like Chatbots as they are very essential in terms of improving efficiency and business productivity; they have some obstacles as well.

Limited Data:

If you are using the Chatbots for organizational purposes (within the organization) only, then you can expect the right result and ample data to test. For example, the bot may not have enough data due to the limited numbers of the employee.

Chatbot Testing:

Chatbot evolves through upgradation of natural language models, and that’s the challenge for organizations to test and run Chatbot check its accuracy.

Privacy on Stake:

The conversational agents like Chatbots learn from data and feedback they collect at the workplace. This could lead to revealing some severe data to others. There has to the proper arrangement made to tackle the issues such as by giving employee right to turn off the listening capacity of the bot when needed.

Accessibility:

When you deploy Conversational equipment, you need to ensure that the interface of the bot is accessible to all your potential users. Sometimes, it may not function properly due to UX, language proficiency, capability, and working situation.

Text-Based Chatbots Lack Human Emotion:

If you have deployed text-based Chatbot, it can create some issues, sometimes. A human that understands context, intent, and emotion, chatbots (text-based) may lack in understanding the same. You need to educate even users to initiate chat and how to start asking questions to the text-based bot, though the latest AI-powered chatbots are intelligent and smart enough to interact with users in a great manner. However, if possible, voice-activated chatbots should be put in place instead of text-based chatbots.

Some of the Top Examples of Chatbots

As we have already mentioned that there are more than 100,000 chatbots available only on Facebook messenger. Top companies and brands are implementing chatbots to provide better customer experience. Here some of the top chatbots that genuinely help customers.

NatGeo Genius:

Launched by National Geographic on Facebook’s Messenger to promote its new TV show “Genius,” which is based on the lives of famous faces like Albert Einstein and Pablo Picasso. The bot chat and converse with users using the voice of the Genius.

Hipmunk:

It’s a very popular chatbot that helps people get the best deals on travel, including flights, hotels, packages, rental cars and much more.

BabyCenter UK:

Launched by Johnson & Johnson family of companies, the BabyCenter UK website is a successful pregnancy and childcare resources, offering a plethora of services such as helping with personalized advice whether it is pregnancy or childcare.

Whole Foods:

The bot helps users with plenty of recipes, products, and cooking inspirations. Users can filter their choice and choose the food and recipes they want to see.

How Much Does It Cost to Develop Enterprise Chatbot Application

Chatbots are gaining momentum, and lots of enterprises are looking to implement the conversational agent into their business. So, when thinking to develop a chatbot, the first question you come across is ‘how much does it cost to develop a chatbot application?’ Thus, the following paragraphs are dedicated to pricing factor only.

Method You Choose

First thing first, when it comes to developing chatbot application, you have two options choose from. For example;

1. Build Your Own
2. Use a Chatbot Builder

Build Your Own: If you want to build your own chatbots, you can hire developers and develop a bespoke chatbot, matching business preferences, and requirement. However, you will need to spend some bucks and time on developing the application.

Use a Chatbot Builder: You can choose a third-party vendor and build your Chatbot. You need to pay on a monthly basis to the vendor and get the bot for your enterprise.

If you choose to build from scratch, you need to consider some of the essential things such as;

• Integration
• Business model
• Platforms

Once you have decided everything, now need to look for a chatbot development company and hire chatbot developers to create customized applications.

Now, if everything goes perfectly, a chatbot takes 40-56 hours to get developed. However, if you have some complicated things to integrate, it may go up to 160 hours or above.

As far as cost develop the Chatbot is concerned, it may be around $5000 to $13000. These are the essential cost that you need to spend on a simple chatbot. However, if you have some specific requirement, the cost may go high based on the demand and complexities of the Chatbot. Sometimes, it costs around $100,000 or more.

Is There any Cost Effective Solutions?

Well, it depends on your requirement. For example, if you have a project and you believe that it will take less time, then you can hire developers on an hourly basis from India which may cost around $15 to $25 per hour.

Conclusion

In coming days, months, and years, Chatbots will be the face your brand, products, and businesses. On-time implementation will help reap the benefits right from the, and once you are experienced, you can grab more benefits to the chatbots in the near future. In case you come up with any suggestion, you can write to us from our Contact Us page and share your thoughts. Stay tuned for more updates.