Author Archives: Chris B

Conversational AI – how Omnireach has analysed the Credit & Collections industry

Omnireach, the digital conversational platform that centralises web chat, email, WhatsApp, social media and messaging onto one screen, has analysed over 150 million conversations – ensuring our AI has industry-leading accuracy and resolution-solving capabilities.

We have now distilled our knowledge of the Credit and collections Industry into a report, download a copy today.

Download Here

 

Saascoms’ award-winning debt collection software – Omnireach and Mailmaster – can streamline operations and improve customer experience in the Credit and Collections industry.

Omnireach, a conversational AI platform, automates tasks, resolves customer inquiries, and identifies vulnerabilities.

Mailmaster facilitates secure communication and self-service options, reducing costs and improving engagement.

The Credit and Collections industry must constantly evolve to keep pace with the way customers want to communicate. To stay ahead, businesses need innovative solutions that optimise processes and prioritise customer experience. Saascoms offers a comprehensive suite of debt collection software solutions designed to address these challenges.

Omnireach and Mailmaster allow debt collection agencies (DCAs) to:

  • Boost Efficiency
    Automate repetitive tasks, streamline communication, and optimise resource allocation.
  • Enhance Customer Experience
    Provide multiple communication channels, self-service options, and personalised interactions.
  • Increase Recovery Rates
    Improve first-contact resolution and offer convenient payment solutions.

Omnireach: Conversational AI for Debt Collection

Omnireach is a powerful AI-powered platform that centralises all non-voice communication channels, including webchat, email, SMS, and social media. At the heart of Omnireach lies Saasbot, a sophisticated AI chatbot trained on a massive dataset of debt collection interactions.

Here’s how Omnireach empowers DCAs:

  • Automates Frontline Tasks
    Saasbot handles routine inquiries, resolves basic issues (such as balance checks, payment confirmations, and requests for statements), and verifies customer identities. This frees up valuable agent time to focus on complex cases and personalised interactions.

  • Understands Customer Intent
    Omnireach utilises Natural Language Processing (NLP) to analyse customer sentiment and identify the purpose behind their communication. This allows Saasbot to provide highly accurate responses and route inquiries to the most appropriate agent for faster resolution.

  • Identifies Vulnerable Customers
    Omnireach is equipped to detect signs of vulnerability within customer interactions. This might include language suggesting financial hardship, mental health concerns, or other sensitive situations. When such vulnerabilities are identified, Omnireach seamlessly transfers the conversation to a specially trained agent or provides resources for external support organisations.

  • Multilingual Support
    Omnireach breaks down language barriers by offering real-time translation for customer conversations. Saasbot can translate across 92 different languages, ensuring clear communication and fostering trust regardless of the customer’s native language.

  • Continuous Learning and Improvement
    Omnireach is a continuous learning platform. Agents can contribute to Saasbot’s development by feeding new interactions and responses into the AI engine. This ongoing process ensures that Saasbot stays up to date with evolving communication styles and industry trends.

The results speak for themselves. Statistics show that Omnireach:

  • Resolves up to 72.4% of customer inquiries on the first contact
  • Increases “right party contact” by 64% compared to traditional methods
  • Offers a 93.7% success rate in intent and sentiment matching

Mailmaster: Secure Communication & Self-Service

Mailmaster empowers DCAs to initiate secure, two-factor authenticated communication with debtors. It facilitates a self-service portal accessible via SMS, offering functionalities like:

  • Personalised Settlement Letters
    Customers can access personalised settlement letters with current balance information, account details, and clear next steps.
  • Integrated Payment Gateway
    The self-service portal allows secure, partial payments directly through the platform. This reduces reliance on traditional payment methods and streamlines the recovery process for both DCAs and customers.
  • Income and Expenditure Forms
    Customers can conveniently submit income and expenditure forms directly through the portal for streamlined financial assessment. This eliminates the need for lengthy phone calls and manual data entry, improving efficiency for both parties.
  • Branding and Customisation
    The self-service portal can be customised to align with the DCA’s brand guidelines, ensuring a consistent and professional customer experience.

By encouraging self-service options, Mailmaster:

  • Lowers overall collection costs for DCAs
  • Improves customer engagement by offering a convenient communication channel
  • Reduces costs for debtors by providing a cost-effective way to manage their accounts

Conclusion

Saascoms’ debt collection software, Omnireach and Mailmaster, empower DCAs to achieve operational excellence and deliver exceptional customer experiences. With intelligent automation, secure communication and self-service options, Saascoms equips debt collection agencies with the tools they need to maximise customer engagement and results.

Ready to transform your debt collection process?

Contact Saascoms today to learn more about our industry-leading software.

In a recent live event, The Comms Summit by Saascoms, experts discussed the impact of demographic change on the Credit and Collections industry. Here’s a look at the key findings and recommendations for the future.

Demographic Change and the Credit and Collections Industry

The UK’s population is growing and is expected to reach 73.7 million by 2036. However, the way it’s growing is what’s most interesting for the Credit and Collections industry. Here’s a breakdown of the key demographic changes:

  • Growth from Net Migration
    The majority of the population growth isn’t due to the birth rate but from migration. This means a significant portion of the population will be new to the UK and may not have a credit history.

  • Religious Shifts
    The UK is becoming more religiously diverse. While the Christian population is declining, Muslim and Hindu populations are growing. This means traditional collection methods may need to adapt to religious sensitivities around credit and debt.

  • Ageing Population
    The UK population is ageing. This means there will be a larger population comfortable with traditional communication methods like phone calls, alongside a growing tech-savvy generation.

  • Geographical Shifts
    Creditworthiness can be impacted by location. The population is shifting, with younger people moving to cities and older generations moving to rural areas. The Credit and Collections industry needs to consider these geographical changes.

  • Cultural Diversity
    The UK’s cultural diversity is increasing. This means understanding cultural attitudes towards credit and debt collection will be crucial.

The Impact on Credit and Collections

These demographic changes will significantly impact the Credit and Collections industry. Here are some key challenges and opportunities:

  • Newcomers and Credit History
    Many migrants will lack a credit history, making traditional credit checks ineffective. The industry may need to explore alternative assessment strategies like Open Banking.

  • Financial Products and Services
    The growing Muslim population creates a need for Sharia-compliant financial products and collection practices that avoid interest.

  • Customer Experience (CX)
    Younger generations prefer digital communication channels. The industry needs to adopt omnichannel communication strategies with self-service options and AI-powered solutions.

  • Vulnerable Customers
    Digital platforms can aid in identifying vulnerable customers and provide appropriate communication methods.

Industry Recommendations

To stay ahead of the curve, the Credit and Collections industry needs to adapt to these demographic changes. Here are some key recommendations:

  • Establish Credit Facilities for Newcomers
    Explore alternative assessment methods like Open Banking to evaluate creditworthiness for migrants.

  • Develop New Financial Products
    Cater to the growing Muslim population with Sharia-compliant financial products and collection practices.

  • Strategic Customer Experience (CX)
    Implement omnichannel communication platforms with self-service options and AI chatbots.

  • Modernise Collection Technology
    Utilise Open Banking to assess affordability and creditworthiness during collections.

Conclusion

Understanding demographic change is crucial for the Credit and Collections industry to thrive. By embracing these changes and adopting new technologies, the industry can ensure successful customer engagement and remain relevant.

The Comms Summit – download the full report here

Is your business prepared for the impact of demographic change on the Credit and Collections industry?

Contact Saascoms today to discuss how our omnichannel customer engagement platform, Omnireach, can help you adapt and thrive.

Now that we are constantly connected, customer expectations for service have skyrocketed.

We now expect instant, frictionless interactions across various channels. This is where omnichannel customer service comes in. But what’s the difference between omnichannel and multichannel approaches? Let’s explore and see how Saascom’s Omnireach platform can help you deliver exceptional service.

 

Omnichannel vs. Multichannel Customer Service: Understanding the Difference

Both omnichannel and multichannel strategies allow businesses to interact with customers on multiple platforms like SMS, email, social media, and webchat. However, the key distinction lies in how these channels work together.

Multichannel focuses on reaching customers on their preferred channels, offering a broader reach but with separate conversations for each channel. This can be frustrating for customers who need to repeat information when switching channels.

Omnichannel customer service, on the other hand, provides a unified experience. It seamlessly integrates channels, allowing customers to switch between them without losing context. This creates a smoother journey and fosters higher customer satisfaction.

Why Omnichannel Wins for Customer Satisfaction

Enhanced Customer Engagement
An omnichannel approach prioritises the customer. It offers a continuous, tailored experience regardless of the channel used. This fosters deeper engagement and loyalty.

Improved Customer Experience
Imagine a customer seamlessly transitioning between a live chat and email without repeating their issue. This is the power of omnichannel! It creates a frictionless experience that delights customers.

Faster Resolution Times
With all customer interactions centralised, agents can access past conversations and customer data for faster problem-solving. This translates to quicker resolutions and happier customers.

Data-Driven Insights
Integrated channels provide valuable data on customer behaviour across all touchpoints. These insights help you personalise communication, anticipate needs, and continuously improve your service.

Introducing Omnireach: The Ultimate Omnichannel Solution

Saascoms’ Omnireach platform is the perfect tool to implement a winning omnichannel strategy. Here’s what makes it stand out:

  • Centralised Communication
    Unify all customer interactions – web chat, SMS, email, social media messaging – into a single platform for effortless management.
  • Seamless Agent Experience
    Our easy-to-use interface empowers agents to handle multi-channel conversations efficiently.
  • Real-Time Language Translation
    Break down language barriers and serve a wider audience with instant translation features.
  • AI-Powered Chatbots
    Our Saasbot leverages AI to automate repetitive tasks, answer basic questions, and qualify leads, freeing up agents for complex inquiries.
  • Speedy System Integration
    Get up and running quickly. Omnireach has minimal IT involvement.

Conclusion

Omnichannel customer service is the future of customer interactions. By prioritising a seamless, multi-channel experience, you can significantly boost customer satisfaction and build lasting relationships.

Ready to take your customer service to the next level?

Contact Saascoms today to learn more about Omnireach and discover how it can transform your customer experience.

omnichannel platform b2b

Why Every B2B Business Needs an Omnichannel Platform: Boosting Sales and Enhancing Customer Experience

In today’s digital landscape, B2B businesses are constantly striving to stay ahead of the competition and meet the ever-changing needs of their customers. One powerful tool that has emerged to address these challenges is the omnichannel platform. With its ability to seamlessly integrate various marketing channels and touchpoints, an omnichannel platform has become a game-changer for businesses looking to boost sales and enhance the overall customer experience.

omnichannel platform b2b

This comprehensive approach allows B2B businesses to provide a consistent and personalised experience across multiple channels, be it website, email, social media, or even offline interactions. By adopting an omnichannel platform, businesses can effectively engage with customers at every stage of their journey, ensuring a seamless and cohesive experience that builds trust and loyalty. In this article, we will delve into the key benefits of implementing an omnichannel strategy for B2B businesses, exploring how it can drive sales growth and elevate customer satisfaction to new heights.

Understanding the B2B business landscape

B2B businesses operate in a unique environment that requires a specialised approach to marketing and sales. Unlike B2C businesses, which primarily focus on individual consumers, B2B businesses target other businesses as their customers. This means that the decision-making process is often more complex and involves multiple stakeholders.

To succeed in the B2B space, businesses need to build strong relationships with their customers and provide solutions that meet their specific needs. However, doing so can be challenging, especially when customers interact with businesses through various channels such as websites, social media, email, and offline interactions.

The importance of an omnichannel strategy for B2B businesses

An omnichannel strategy is crucial for B2B businesses because it allows them to provide a consistent and personalised experience across all channels. By integrating these channels, businesses can ensure that their customers receive a seamless and cohesive experience at every touchpoint.

In the past, businesses often used a multi-channel approach, where each channel operated independently and had its own set of marketing strategies. However, this approach often led to disconnected customer experiences, as each channel operated in silos, resulting in a lack of consistency and personalisation.

On the other hand, an omnichannel strategy breaks down these silos and creates a unified customer experience. It allows businesses to gather data from various channels and use it to provide personalised recommendations, targeted promotions, and tailored content to each customer. This level of personalisation not only enhances the customer experience but also boosts sales by increasing customer engagement and loyalty.

omnichannel platform b2b

Boosting sales with an omnichannel platform

One of the key benefits of implementing an omnichannel platform for B2B businesses is its ability to drive sales growth. By providing a consistent and personalised experience across all channels, businesses can effectively engage with customers at every stage of their journey.
For example, when a customer visits a business’s website, the omnichannel platform can track their behaviour and preferences. This data can then be used to deliver personalised recommendations or targeted promotions, increasing the chances of a sale. Furthermore, the platform can also integrate with other channels, such as email or social media, allowing businesses to reach customers with relevant content and offers.

In addition to personalised marketing, an omnichannel platform can also streamline the sales process by providing a seamless buying experience. For example, if a customer adds items to their cart on the website but abandons it, the platform can send a personalised email reminder with a direct link to complete the purchase. This kind of proactive approach can significantly increase conversion rates and revenue.

Enhancing the customer experience through an omnichannel approach

Apart from boosting sales, an omnichannel approach also enhances the overall customer experience. By providing a seamless and cohesive experience across all touchpoints, businesses can build trust, loyalty, and long-term relationships with their customers.

For instance, when a customer interacts with a business through multiple channels, an omnichannel platform ensures that their preferences, history, and context are seamlessly transferred from one channel to another. This means that a customer can start a conversation on social media and continue it through email or even offline interactions without having to repeat information or face any disruptions.

Moreover, an omnichannel platform allows businesses to provide real-time support and assistance to their customers. For example, if a customer encounters an issue on the website, they can reach out to the business through live chat or phone, and the support team will have all the relevant information at their fingertips. This kind of personalised and efficient support not only solves problems quickly but also leaves a positive impression on customers.

omnichannel platform b2b

Key features and capabilities of an effective omnichannel platform

To fully leverage the benefits of an omnichannel platform, businesses need to choose a solution that aligns with their specific needs and goals. Here are some key features and capabilities to look for when selecting an omnichannel platform:

1. Seamless integration: The platform should seamlessly integrate with all marketing channels and touchpoints, ensuring a consistent and personalised experience across the board.
2. Data-driven insights: The platform should gather and analyse data from various channels to provide businesses with valuable insights into customer behaviour, preferences, and trends. This data can then be used to optimise marketing strategies and drive sales.
3. Personalisation: The platform should have robust personalisation capabilities, allowing businesses to deliver tailored content, recommendations, and promotions to each customer based on their preferences and history.
4. Automation: An effective omnichannel platform should automate repetitive tasks and processes, such as email campaigns, lead nurturing, and customer support, freeing up time for businesses to focus on strategic initiatives.
5. Analytics and reporting: The platform should provide comprehensive analytics and reporting tools that allow businesses to measure the effectiveness of their marketing campaigns, track customer engagement, and identify areas for improvement.

Implementing an omnichannel platform in your B2B business

Implementing an omnichannel platform requires careful planning and execution. Here are some steps to consider when implementing an omnichannel strategy in your B2B business:

1. Define your objectives: Clearly define your business objectives and identify how an omnichannel platform can help you achieve them. This will guide your selection process and ensure that the platform aligns with your specific needs.
2. Audit your current channels: Take stock of your current marketing channels and touchpoints, including websites, social media accounts, email campaigns, and offline interactions. Identify any gaps or areas for improvement.
3. Choose the right platform: Research and evaluate different omnichannel platforms based on your objectives, budget, and specific requirements. Consider factors such as integration capabilities, data management, personalisation features, and customer support.
4. Plan your implementation: Create a detailed implementation plan that outlines the steps, timelines, and resources required to integrate the platform into your existing systems and processes. Consider factors such as data migration, training, and testing.
5. Train your team: Provide comprehensive training to your team members, ensuring that they understand how to effectively use the platform and leverage its features to enhance the customer experience and drive sales.
6. Monitor and optimise: Regularly monitor the performance of your omnichannel strategy, track key metrics, and gather feedback from customers. Use this data to identify areas for improvement and optimise your marketing strategies.

omnichannel software

Case studies of successful B2B businesses using omnichannel platforms

To further illustrate the benefits of implementing an omnichannel platform, let’s look at some example case studies of B2B businesses:

1. Company A: A B2B software company implemented an omnichannel platform that integrated its website, social media, email campaigns, and customer support channels. As a result, they saw a significant increase in customer engagement, with personalised recommendations leading to a 20% boost in sales.
2. Company B: A B2B manufacturing company adopted an omnichannel platform that allowed them to provide real-time support to their customers through multiple channels. This led to a 30% reduction in customer support tickets and an overall improvement in customer satisfaction.
3. Company C: A B2B e-commerce business implemented an omnichannel platform that integrated its online store with its offline sales channels. This resulted in a seamless buying experience for customers, with a 25% increase in conversion rates and a 15% increase in average order value.

Conclusion: The future of B2B businesses and omnichannel platforms

In conclusion, an omnichannel platform is essential for B2B businesses looking to boost sales and enhance the customer experience. By seamlessly integrating various marketing channels and touchpoints, businesses can provide a consistent and personalised experience that builds trust, loyalty, and long-term relationships with their customers.

As the digital landscape continues to evolve, B2B businesses need to adapt and embrace omnichannel strategies to stay ahead of the competition. By implementing an effective omnichannel platform and leveraging its key features and capabilities, businesses can drive sales growth, increase customer satisfaction, and position themselves for future success.

If you would like to learn more and understand how an omnichannel approach would benefit your business, make contact.

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Conversational Messaging – Benefits and Challenges

Do you know what conversational messaging is and the benefits and drawbacks it has for businesses? Discover everything you need to know.

This year has seen conversational messaging become an increasingly popular way to provide customers with a personalised experience. From being able to get real-time answers in the moment of need, businesses have the opportunity to create meaningful connections and build trust with their customers by responding quickly and effectively – something that every customer appreciates.

Saascoms has developed an award-winning  AI Chatbot and conversational tool, Omnireach, which can streamline digital conversations by either allocating to ‘live’ agents based on decision science/workflows or self-serving via AI Chatbot responses. Our AI-driven technology can detect customer sentiment, allowing the customer to be dealt with appropriately.

In this article, we explore both sides of conversational messaging, from its potential pitfalls to its many benefits.

Benefits:

1. Personalised Experience

Conversational messaging helps you connect with customers on a more personal level! Tailor your customer service to their specific needs and give them an instant response when they have questions or concerns. This powerful technology helps you make meaningful connections that can result in lasting relationships for the future.

2. Improved Customer Satisfaction

Your top priority is delivering exceptional customer service, and one great way to do that is with timely conversational messaging! Responding quickly and effectively to customers demonstrates your dedication to providing the best experience possible – one that can grow long-term loyalty and build relationships.

3. Increased Efficiency

Chatting with customers is an efficient way to boost business productivity! Conversational messaging allows businesses to handle multiple conversations at once – minimising response times and maximising output. Make conversing easier on your team today by taking advantage of this useful feature.

4. Reduced Costs

Human conversations are costly for businesses, but using automated messaging can be a clever way to cut costs. By utilising chatbots and other conversational tools, companies can effectively reduce the need for human customer service staff without sacrificing quality – making cost savings an attainable goal.

5. Build Customers’ Trust

Building trust is key to making meaningful connections with your customers, but it’s not always easy. People need reassurance that you’re real and care about their needs—and they want the conversation started quickly! Showing how much value you place on customer service through speedy responses makes a great impression and encourages people to do business with your brand online.

6. Convenience

Your customers don’t want to feel ignored. Give them the opportunity to have a conversation with you whenever and wherever they choose! Chat when it fits their schedule and get real-time support for any of their needs. With conversational messaging, your customers are never left alone on the proverbial doorstep.

Challenges:

1. Limited Customer Interaction

While modern conversation messaging can provide customers with convenient, efficient service – it isn’t always the right choice. Some clients still really appreciate being able to connect directly with a human who they trust and feel understood.

2. Risk of Misunderstandings

Conversing with someone through conversational messaging can be tricky. Without facial expressions and body language, it’s hard to understand the tone of an individual’s message, leading to potential confusion or misinterpretations on either end. This type of miscommunication is not only frustrating for customers, but it also has the power to disrupt relationships between businesses and their clients – something that we all want to avoid.

3. Privacy Concerns

Talking to chatbots can be a great way for customers to get help quickly and efficiently. However, we know that trusting your data with anything other than the humans you already trust raises some important questions about privacy and security. That’s why businesses have an obligation – both ethically and legally – to take all necessary steps towards protecting their customer’s personal information so they feel comfortable conversing freely with bots.

4. Technical Limitations

When it comes to customer conversations, technological boundaries can create a barrier. Chatbots might not be as helpful or understanding as human representatives, so if you need insight and support from your customers, remember that people continue to make all the difference.

Despite the challenges

Saascoms successfully addressed the acknowledged hurdles of conversational messaging by developing a solution that took these obstacles into careful consideration.

Saascoms developed an award-winning AI Chatbot and conversational tool, Omnireach, which can streamline digital conversations by either allocating to ‘live’ agents based on decision science/workflows or self-serving via AI Chatbot responses. Our AI-driven technology can detect customer sentiment, allowing the customer to be dealt with appropriately.

Limited Customer Interaction – Omnireach has multiple contact points from SMS, email, live chat and Social channels via the Chatbot, which can offer higher interaction opportunities.  All these channels have a fail-safe of human contact if needed via live agent access.

Risk of Misunderstandings – Saascoms language conversion software can detect sentiment and intent via natural language processing.  Saascoms works with you to continually understand how and why your customers are interacting and, via machine learning, refine the chatbot process.

Privacy Concerns –  Saascoms can validate ID&V before sensitive information is discussed or processed.  Omnireach provides transcript reporting and compliance/audit search functions.  Saascoms are hosted within Ms Azure UK and have both ASCB and UKAS ISO27001 accreditation and a G Cloud 13 approved.

Technical Limitations – Saascoms solutions have been developed specifically to ensure ease of use for the end user. Saascoms understands your requirements and how to make the process as simple as possible for your customers.

In Conclusion – Conversational messaging chatbots offer significant benefits such as 24/7 availability, instant responses, cost savings, consistency, and scalability. They can enhance customer experiences by providing quick and accurate information. However, they also have limitations, including a lack of human touch, limited understanding of complex queries, language barriers, technical constraints, and the need for ongoing maintenance.

To maximise the benefits of conversational messaging chatbots, while minimising the drawbacks, businesses must carefully evaluate their use cases and customer needs. A hybrid approach that combines chatbots with human support can provide the best of both worlds, leveraging the efficiency of automation.

Make contact to arrange a demo or to learn how we can create a customer service strategy that meets your business objectives, providing an excellent customer experience.

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Tips to avoid marketing SMS spamming

Marketing SMS messages can be a powerful tool to engage with customers and drive sales, but there’s a fine line between effective marketing and spamming.

Nobody wants to be bombarded with unwanted messages, so it’s important to make sure your SMS campaigns are targeted and respectful.

Here are some tips on how to avoid becoming a marketing SMS spammer:

1. Get consent

Before sending any marketing SMS messages, you must obtain consent from the recipient. This means they should have opted-in to receive your messages, either by signing up on your website, subscribing to your service, or explicitly giving you their phone number for this purpose.

This also prevents you from being blacklisted and protects you from potential fines due to spamming.

2. Be clear and concise

Keep your messages brief, clear and to the point. Avoid using complex language, and make sure your message is relevant and useful to the recipient. If your message is too long, it may be seen as intrusive and annoying.

3. Timing is key

Avoid sending messages at inappropriate times, such as late at night or early in the morning. This will help ensure that your message is not seen as spam and is more likely to be read and acted upon.

4. Personalise your messages

Use the recipient’s name in your message to make it feel more personal and less like a mass marketing message that feels like spamming. This will help build a stronger relationship with your customers and make them feel valued.

5. Opt-out option

Always include an opt-out option in your messages so that recipients can easily unsubscribe from your marketing messages if they choose to. This is not only important from a legal standpoint but also helps build trust and respect with your customers.

By following these tips, you can create effective marketing SMS campaigns that engage with customers without being seen as a spammer. Remember, respect your customers’ time and privacy, and they’ll be more likely to engage with your messages and remain loyal to your brand.

At Saascoms, we offer a range of award-winning solutions designed to enhance your communication with customers. If you’re interested in learning more about how we can help your business, please don’t hesitate to contact us.

We’d be happy to schedule a demo and discuss our solutions with you in greater detail.

Contact us to learn more

Credit & Collections – Utilising Machine Learning

Credit & Collections – Utilising Machine Learning

Machine learning (ML) is a branch of artificial intelligence (AI) and computer science that focuses on using data and algorithms to imitate how humans learn, gradually improving its accuracy.

We have built our own collections learning system based on our analysis of over 130 million real-world customer and agent conversations since 2018. ML algorithms are based on stored data used to make decisions or predictions based on inbound customer conversations.

 

The initial implementation of ‘supervised learning’ is based on two aspects

1. Access to the Saascoms AI engine

2. An agent manually tags each conversation

When tagged, the contents are applied to the Saascoms ML function. The agent can then type a reply or select from a branded template, adding personal customer information into the response via a link to the organisation’s CRM.

When a response is registered within the Saascoms engine, it is added to the data pool for analysing and adding to the ML algorithm.

As the AI becomes more confident, we move to ‘semi-supervised’ learning, where the engine will identify a response to the agent. The agent then approves the content and sends it. The aim is to ensure that content is approved to maintain accuracy and compliance.

The final process of our ML is ‘unsupervised learning’.

Data is analysed and added to the algorithm without human intervention, thus becoming fully autonomous. This process can take several months and relies on stage 1 and 2 sign-off processes between Saascoms and the collection’s organisation.

Every conversation is allocated a confidence score. Depending on intent and sentiment, i.e. vulnerability, it must equal a 95% confidence match. If this criterion succeeds, the ML algorithm will trigger the workflow without human intervention. If the confidence score is under 50%, the ML algorithm is disengaged and passed to an agent.

Benefits to our clients.

  • Compliance and accuracy
  • Reduces human error, ensuring continuity of information and responses for all customers.
  • Offering templated and consistent communications to customers.
  • Full transcript reporting for chatbot, agent, and customer interactions, regardless of the communication channel, i.e. email, SMS, live chat, social
  • Linking previous conversation threads to the new inbound activity, using the content to predict sentiment and intent, and routing the customer to the relevant team based on requirements.

Efficiencies

  • Quicker responses reduce conversation wait times. On average, service level response times were cut by 93.6%.
  • Out of hours 24/7/365 service. Saascoms Chatbots resolved 90,000 collection and arrears conversations in Q1 2022, outside the 8 a.m.– 9 p.m. hours.
  • Available across multiple channels (SMS, email, Live Chat, and social, i.e., Facebook Messenger, Whatsapp) within the same Saascoms conversational platform – Omnireach.

Management Information

  • Offers MI to Collection & Arrears clients based on when customers are engaging, which customers prefer to engage by channel, and when to contact customers to ensure the best engagement.
  • Identifying vulnerable customers to ensure the correct contact strategy is used moving forward.

In conclusion, machine learning has become an essential tool in the credit and collections industry. By using data and algorithms to imitate how humans learn, machine learning is gradually improving its accuracy.

Saascoms has developed its own collections learning system based on the analysis of over 130 million real-world customer and agent conversations since 2018.

The system uses supervised, semi-supervised, and unsupervised learning to ensure compliance and accuracy, reduce human error, and offer templated and consistent communications to customers.

The system also provides quicker responses, out-of-hours 24/7/365 service, and management information that identifies vulnerable customers to ensure the correct contact strategy is used moving forward.

Saascoms’ technology has proven to benefit businesses by improving efficiencies, reducing wait times, and providing valuable insights into customer engagement.

Saascoms have a wealth of experience and are award-winning at that, so book a demo and see how our technology can benefit your business.

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Real-time Personalisation. The future of marketing.

As technology advances, one of the biggest trends gaining momentum in the marketing world is real-time personalisation.

This is a way for organisations to present customers with what they want, at the right time, with content that hits the mark. This strategy dramatically affects revenue because it makes it easier to engage customers, lowers the cost of getting and keeping customers, and makes customers more loyal.

Real-time personalisation has been shown to increase revenue significantly.

This is because customers are more likely to purchase products or services that are tailored to their specific needs and interests. With real-time personalisation, organisations can present customers with personalised recommendations, discounts, and content based on their past behaviours and preferences. This helps to build trust and rapport with the customer and encourages them to make repeat purchases.

Another benefit of real-time personalisation is reducing customer acquisition and retention costs.

Organisations can improve customer engagement and loyalty by presenting customers with personalised content. This can lead to a decrease in the price of acquiring new customers and a reduction in the cost of retaining existing ones.

However, there are some key challenges to implementing real-time personalisation.

These include data management, scalability, privacy concerns, and the ability to deliver personalised content in real-time. To overcome these challenges, organisations need to have a solid framework in place, along with best practices for managing data, deploying AI models, and delivering personalised content.

Artificial intelligence (AI) is core to personalisation at scale.

Data science is the differentiator in this field, and the ability of organisations to build AI models quickly and deploy them effectively is key to success. To do this, you need to know a lot about the data and have experience with machine learning and other AI technologies.

Building a personalisation engine requires a well-defined framework and best practices for managing data, deploying AI models, and delivering personalised content. This means getting to know the customer really well, using data science and machine learning to build predictive models, and putting in place scalable systems for real-time content delivery.

Looking to the future, real-time personalisation is set to become an even more important trend in the world of marketing.

As technology continues to evolve, organisations will need to be able to adapt quickly to changes in customer behaviour and preferences. The ability to deliver personalised content in real time will be a key factor in the success of any marketing campaign.

In conclusion, the future of marketing is all about real-time personalisation. By presenting customers with personalised content that is tailored to their specific needs and interests, organisations can increase revenue, reduce acquisition and retention costs, and improve customer loyalty.

However, in order to be successful, organisations need to have a solid framework in place, along with best practices for managing data, deploying AI models, and delivering personalised content.

Contact us to understand more about how we can help you with a more personalised approach.

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Mobile Marketing – Campaign Ideas that Work

Mobile marketing campaigns are one of the most effective ways to engage and connect with your customers.

With mobile technology becoming increasingly more accessible, now more than ever is a great time to hop onboard the mobile train.

Mobile campaigns are easy and versatile, so you can use SMS messages to provide your customers with engaging content that’s tailored just for them. You can use this platform to offer promotions, alert customers of new product launches, educate them on using services or products and much more.

With just a few clicks, you’ll have an efficient way to keep your target audience informed and up-to-date. Mobile marketing offers endless possibilities – it’s time to get creative and make your mobile campaign ideas sizzle.

Here are ten ways you can use SMS campaigns to make your marketing strategy pop:

1. A great way to reach out to exclusive customers

Mobile campaigns are a great way to make sure your exclusive customers have all of the info on stock arrivals, personalised offers and exclusive viewings.

These one-off messages will stand out for your special customers, and you can even ask them to share the message with their friends as an added bonus – it’s a win-win.

Mobile marketing provides an easy way to keep your customers in the know while making sure they still feel special.

2. A surefire way to get the word out about your new product! 

Mobile campaigns are a great way to jump-start your new product launch, and they don’t have to be complicated either.

With SMS messaging, you can quickly inform your customers of the newest addition to your catalogue and let them know the nearest point of sale. But why not go the extra mile? Give your customers the chance to reply by text message and receive free samples or bonus packs – it’ll make them feel valued and likely encourage repeat business in the future!

Mobile campaigns are a fun, friendly, and professional way to show your customers that you appreciate their loyalty.

3. Sale campaign and promotions

It’s never been easier to stay connected with your customers and make sure they are aware of upcoming events or sales than by using SMS mobile campaigns. Mobile campaign ideas have revolutionised what used to require long-winded emails and comprehensive social media campaigns.

By making a simple text message, you can easily get the word out to your customers on any new opening or special offers in no time. Your customers can feel confident that they will always be up-to-date with the latest news from your business – which only strengthens the connection that you have formed with them.

What could be better than connecting with your customers as quickly, easily and conveniently as ever before?

4. Virtual discounts

Mobile campaigns are an excellent way to reach more customers and increase brand awareness. And with the convenience of sending a virtual coupon via SMS for a discount or special offer, it’s easy to engage new customers and encourage them to spread the word about your business.

We know that people love discounts and offers, so why not make the most out of Mobile Campaign Ideas and send some virtual coupons that encourage further engagement through sharing?

You’ll benefit from increased brand awareness, and loyalty and ultimately grow your customer base.

5. Making your marketing campaigns go viral

Mobile is the way of the future, so if you want to maximise your reach it’s important to make sure your messages are getting passed around. Mobile campaigns can do wonders for business, whether it’s a competition offering or some kind of special reward for sharing the SMS.

Encouraging the recipient to pass on your message is a great way to get more eyes and ears than otherwise would be possible – think of it as social media marketing 2.0.

Get creative with your incentives, and you’ll be sure to see impressive results with your mobile campaigns.

6. Keep ahead of your competitors

Mobile campaigns are quickly becoming the go-to method for keeping customers informed of stock and deals.

By using SMS messaging, businesses can provide news to customers in an instant! Mobile campaigns are cost-effective, and efficient and produce great results. Customers can receive notifications directly to their phones while also being able to share them easily via social media or text.

Mobile campaigns reduce print costs and make it easy for customers to interact with the content sent. Additionally, businesses are able to track read receipts and see who is engaging with their deals and see who is actually interested in purchasing the stock or product.

7. Give your email newsletter a boost

If you’re looking for ways to boost your subscribers’ engagement with your newsletters, why not send a short SMS notification beforehand that summarises the main highlights of your latest edition?

Providing an enticing summary and including a link to the online version of your newsletter, not only builds curiosity but also makes readers much more likely to click through and have a look.

8. Updates to customer details

Text messages are an excellent way to ask for information updates from existing customers, with minimal effort but maximum impact. To sweeten the deal, why not add a prize draw or reward as an incentive?

Everyone loves prizes – and what better motivation could there be than free stuff? Use this opportunity to update customer profile information and turn it into a fun exercise everyone will appreciate.

9. Test the market

Mobile marketing strategies are becoming increasingly popular and for good reason! SMS campaigns are an incredibly cost-effective and simple way to test the waters before launching a full-fledged campaign.

Mobile campaigns also provide a fantastic way to connect with customers on a more personal level. Although there is no one-size-fits-all approach when it comes to mobile campaigns, some ideas could include text message discounts or coupons; promotional Text-to-Win contests; using SMS to engage customers with surveys; keeping customers informed about product launches and sales, or even sending out promotional polls.

10. Pre-orders

Mobile Campaign Ideas are great, but why not take things a step further and give your customers an exciting chance to be the first to get their hands on the latest product launches?

With SMS pre-ordering, you can create exciting discounts or exclusive bundles for your customers, enabling them to get their products before anyone else.

This way, you can easily gauge customer demand before launching a new product and ensure it’s everything they want.

Saascoms have a suite of solutions to help you with mobile marketing.
Our award-winning technology ensures you get the best results.

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