How Bots Are Going to Work to Increase Efficiency

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Virtual Sales Assistant Bots

Quote-to-Cash is the integration and automated management of end-to-end business processes on the sell side, connecting the customer’s intent to buy with the seller’s revenue process. To improve on this process, Apttus introduced Max, a virtual assistant utilizing a conversational user interface that will execute any command, taking away the hundreds of mundane, repetitive tasks that users typically need to perform in the revenue process. Max can use any media channel, including voice command, text inputs, Skype for business, email or augmented reality and prompt users to make decisions that are consistent with company goals, and give a "behavioral nudge" that makes clear how a product or discount recommendation will affect a salesperson’s commission.

Bots are moving into the workplace. In fact, you may have interacted with one today. Citing a study by Oracle, Business Insider reported that 80 percent of decision makers surveyed reported that they are already using or plan to use chatbots by the year 2020. Also, in an IT Business Edge post, Don Tennant wrote: "Within the next decade, the customer experience in obtaining goods and services will be dramatically altered by the emergence of bots that communicate with each other, leaving nothing for us humans to do in the process other than letting our personal bots know what it is we want."

You can categorize the bots in several ways, explained Vaclav Vincalek, CTO with Peer Effects. You can split them based on: Platform (Facebook, Amazon, Microsoft); Communication (conversation, listen); Purpose (customer service, selling); Interface (voice, text only, visual); Audience (personal assistant, corporate); and Industry (retail, banking, health).

"Based on this classification," Vincalek said, "you can cover most of the bot activity in the market space."

Here are a few ways that businesses are adopting bots to enhance business practices.

 
 
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