Artificial Intelligence in Recent Years
The world of Artificial Intelligence (AI) has become a very popular topic in the recent years. Across different industries, from video games to business software, AI seems to be something that will continue to be a hype or even destined to reshape our future. For the last ten years, the “AI” search phrase has grown extremely quickly and signs little of slowing
Figure 1: “Artificial Intelligence” as per Google Trend. April 2009 to April 2019.
Retrieved on 26th April 2019
Because of its popularity, many tech companies have started to put AI as one of their biggest investments in recent and many more years to come. This aligns together with the revenue that is obtained based on AI-related products. According to the statistical data published by Statista, companies around the globe have received more than USD 1.6 billion from AI products (enterprise applications in particular). Moreover, this is predicted to grow up to USD31 billion by the next 6 years.
Figure 2: Revenue from AI for Enterprise Apps (market worldwide), Statista.
Retrieved on 26th April 2019
In many ways, we might wonder how AI can play an important role in the implementation of CRM too. Whether it comes to automating tedious activities, enhancing background information to make a decision, or offering a way for you to understand more about your Customer, AI is able to assist CRM users in many ways. Don’t worry though, we can provide smart AI combined with the best breed of our CRM through SugarCRM.
Within this article, we will discuss four components on how AI can help you to get the best from your solution
- Dialogflow: Google-owned Human-Computer for SugarCRM
- Sugar BPM: Automate Your Tasks in SugarCRM
- Sugar Hint: Customer Relationship Intelligence
- Sugar Forecasting: Transcribe and Analyse Your Sales Data
Dialogflow & Sugar: A Great Assistant for your CRM
Dialogflow is a Google-owned developer of human-computer interaction technologies based on natural language conversations. The technology leverages Google’s machine learning and is built upon Google infrastructure.
Figure 3: Monica, Bot created by IZeno which able to capture new potential customers, based on Dialogflow
In a way, Bots or a Digital Assistant are not yet at the point of completely replacing humans. However, they are indeed capable of automating simple tasks and capturing common requests. iZeno has successfully customised Dialogflow and integrate that with SugarCRM. The bot is capable of emulating natural language and handling rudimentary operations such as capturing potential customers and the type of the inquiry. For each unique potential customer (based on email address), the data is then captured by Dialogflow and translated into a lead recorded in SugarCRM. The benefit is clear: a customer service agent who works 24/7 that helps you reduce the expenses of your organisation
SugarBPM: Automate Complex Business Operations
According to research from McKinsey, the accelerating progress in AI and automation is creating rapid opportunities for businesses and society as a whole. This is due to the fact that automation, enabled through AI, has a role in reducing the time taken to do various activities. The latest release of Sugar 9 comes together with SugarBPM (formerly known as Advanced Workflow). BPM enables users to automate various complex processes based on real-life scenarios using the state-of-the-art automation engine which is constructed according to the BPMN standards.
Figure 4: Lead Routing Process Automation via SugarBPM
With this, any users will be able to quickly design and deploy different business processes with an intuitive user interface. Combined with configurable user dashboards, it allows Users of the Enterprise and Ultimate editions to seamlessly view snapshots of ongoing workflows and tasks.
At iZeno, we have also successfully integrated SugarBPM with external systems, including Dialogflow which was discussed in the above section, or even ERP systems to break down any boundaries and to ensure cross-departmental efficiencies.
Sugar Hint: The CRM Intelligence
The purpose of AI is to learn continuously in a way that a human employee would. Companies may be overloaded with data and CRM departments have a lot of information regarding their customers and potential customers. As such, AI solutions are expected to provide a more efficient way of dealing with this information and thereby freeing up human employees
In 2017, Sugar launched “Sugar Hint”, a relationship intelligence service that makes information available for your Contacts and Leads/Prospects in SugarCRM. With a robust framework, data such as social media accounts (including Facebook, Twitter, and Linkedin), work information, and company details are visible based on the email address of the subject. With a click, users are also able to quickly import the details gathered and update the Sugar record.
figure 5: Graphical Representation on How Sugar Hint AI Automatically
Generates Customer Data based on Email Address
According to Nucleus research, “Hint can save an average of 17 minutes per lead, delivering payback in less than a month based on just two calls”. In turn, Hint will be enable Sugar Users to:
- Make smarter decisions
Higher visibility of your customer background allows you to stay proactive with key insights about Leads and Customers to support the right business decisions at the right time.
- Accelerate the Conversion Rate
Hint eliminates the time consumed to do research and manual data entry, enabling you to focus on actual selling activities
- Enhance Productivity and Profit
Measurably increase seller productivity with more time to cover more accounts, contact more prospects and drive more conversations. Reducing time and thereby increasing the profit margin for your company.
- Better CRM Adoption
Make Sugar the go-to customer data platform for your teams by providing a superior user experience with a tool they’ll actually want to use.
CRM for Sales Forecasting: Transcribe and Analyze your Performance
With the advanced AI machine, Sugar’s sales forecasting software will be able to provide comprehensive and detailed view of your sales pipeline. Easily view sales quotas at individual, team, and sales organizational level, this will allow you to make a data-driven decisions in a seamless way.
Figure 6: Sugar Forecasting Software
Capable of analyzing thousands of transactions every single day, the forecasting engine of Sugar can be configured to model a wide range of scenarios. Information can be automatically collected through different Opportunities with dozens of revenue Line Items.
Conclusion
In a nutshell, if implemented in right manner, AI will make a good addition to your CRM software. As discussed in the above points, SugarCRM can help you to unlock the best possibility of utilizing AI with your CRM. From the Digital Assistant, Automation, Relationship Intelligence, and Sales Forecasting applications, iZeno has the right experience for you to transform your CRM into a platform which designed to ensure the smooth operation of mission-critical activities by leveraging AI technologies.
About iZeno
iZeno was founded in 2003 on the principle of providing enterprises with best-in-class solutions they need to keep their business running seamlessly. With a team of 70+ innovators, in-house, we have delivered over 500 Enterprise Solutions, implemented and optimized to enable smarter insights.
Our team draws on industry experiences in accomplishing a portfolio of mission-critical applications, integrating Cloud, CRM, Data Analytics, and other leading technologies with our clients existing IT frameworks.
With a leading presence in the region, headquartered in Singapore and operation in Malaysia, Indonesia, Thailand and Philippines, no project is too complex for us, and our team is always ready for a new challenge.
Get in touch with us here.