2023-05-22 13:28:38
Automation, AI, financial services… What are the trends in business software to improve efficiency and productivity while reducing costs?
Are we living the great software reset? Whether the economy is booming or sluggish, the era of big budgets spent on buying bad software is coming to an end and ushering in the era of efficiency. It’s time to buy only what businesses need and stop overspending on bad software.
The big software reset is changing the way businesses work. They are putting their people first and migrating to technologies that next-generation workers love using — more intuitive software that helps them do their jobs better in a faster, digitally driven marketplace.
This evolution changes the priorities in computing. Businesses continue to rely on IT leaders to improve service quality and reliability while embracing technologies like AI and delivering solutions that require fewer resources.
Here are the top five trends shaping the industry today and impacting businesses around the world:
Automation reduces resolution times
The IT people are exhausted and the labor shortage is real. Businesses are considering using AI-driven automation to help eliminate unnecessary, mundane tasks performed by employees, so they can focus on more important tasks. This helps maintain the productivity and employee motivation.
Automation not only helps resolve most tickets on the first interaction, but IT teams also find that it leads to a significant reduction in task resolution time.
Overall, it not only saves time but also improves the overall customer experience with instant and accurate responses.
Seamless ITSM with game-changing bots
Most employees use a collaborative chat application at work on a daily basis. True to their nature, robots, when used as part of IT service management, help businesses achieve amazing results.
When a customer submits a ticket for the first time, bots help halve the time it takes to give a first response. THE bots helping IT teams resolve recurring requests quickly, which can cut response times in half. Decreased resolution time means customers can get back to work sooner, which translates to increased productivity.
A service powered by AI
AI can support conversational assistance using virtual agents. For example, employees can simply use their usual email channel to request access to a dashboard. A virtual agent with AI can process the request instantly, as if it were a simple chat on the messaging channel. Virtual agents help resolve customer issues faster and free up time for their human counterparts to work on more complex issues.
However, AI is not limited to virtual agents. For example, suppose an employee is unable to access a dashboard despite being granted permission. Human agents are able to quickly respond and resolve tickets by using AI to automatically identify the access problem by matching it to similar incidents. By resolving issues faster, the agent is more productive and can handle more issues. This allows service desks to scale and resolve a much larger volume of requests with minimal human intervention and at a faster rate.
Financial services, leader in support
The bankruptcy of the 40-year-old Silicon Valley Bank on March 10 became the biggest bank failure since the 2008 financial crisis and placed regarding $175 billion in customer deposits under the scrutiny of regulators. The bank’s customers of course wanted to get their money back as quickly as possible and, for their part, the IT departments went into crisis management mode and sought to obtain immediate support.
In today’s economic recession, financial difficulties can strike a business at any time. A robust IT service management solution will allow for a soft landing in times of crisis. Despite the headwinds facing the industry, technology plays an important role in anchoring the organization and keeping employees happy. In fact, financial services companies are able to satisfy almost all of their end users.
Early responses play a crucial role in determining customer satisfaction levels. They assure end users that the IT organization is taking care of the problem.
The use of automation and bots also plays a role in reducing friction while providing solutions – financial services firms are able to resolve three-quarters of issues raised in the very first interaction. This translates into huge savings in time and effort for customers, since they don’t need to go back and forth with an agent to resolve simple issues.
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