Smart technology, automation, big data, artificial intelligence, and so many other tech topics are demanding your attention–and business investment–every second.
Knowing how to achieve greatness while riding the wave of new technology takes skill and awareness, but even having the best tech doesn’t matter if you can’t implement it properly. For most businesses, making current tasks more efficient is a good start.
Consider your billing process as a place where time and resources can be saved. Here are a few ways that technology can modernize your billing process while giving you a chance to experiment elsewhere.
Automation is the New Normal
How much time does it take to fill out a form for a new customer? When an order is placed, are there any manual entries that need to be made? Do you have a way to shift between spreadsheets, forms, and other files to make sure reports all make it to the right place?
More importantly, do you have a way to quickly alert a professional when a billing problem occurs? If you’re doing anything manually, it’s time to consider implementing automation into your business. In the digital tech world, automation is the term for allowing a programmed robot to perform tasks without human interaction. Automation is also referred to by other names, depending on the function it provides the business. Currently, practice management software is a popular form of automation that helps businesses organize and speed up their online billing and procedures.
Automation can sound like something that is too sci-fi to be a real part of modern day business practices. But, the truth is that modern day technology has far outpaced a lot of classic sci-fi themes.
While startling at first, technology and A.I. can provide a business with a more efficient workflow.
Artificial Intelligence and Customer Service
Artificial intelligence and automation both definitely improve a business’s function from an efficiency standpoint. But, these two things can also have an impressive effect on boosting the customer service of a business.
Think about your customer service process and how it ties into billing. If someone contacts your business with billing questions, how long does it take them to get to the right place? Are you sure that they’re asking about billing and not sales or marketing?
Sometimes sales, marketing, and billing concerns happen at the same time. A customer can ask a lot of questions within a single email, text, direct message, or voicemail, but it may take time to gather everything needed.
A good professional can listen to a question and start gathering documents needed for research and product delivery, but what if they had relevant suggestions before even waking up for the day? It’s a convenience that should be embraced.
AI can listen for keywords and look through previous tickets/contact events to figure out the best recommended data for professionals. This helps your clients get help faster, but it also adds to employee quality of life.
That doesn’t mean AI is telling workers what to do. If you’re worried about AI forcing a decision, or if you have team members that don’t like taking forced directions, don’t worry; data can be offered up as optional and available when needed.
What if you notice that the information suggested isn’t helpful, or isn’t quite on the mark? Don’t abandon AI, enhance it; simply discuss the results and give helpful information about what you expect.
Artificial intelligence and machine learning become better by training with data sets. This means being fed information and given an ideal goal, then running loops of decisions until the results look good to your team.
Business Tech Research for Billing and Beyond
On a side note, this works amazingly when you want a specific result, but you want something different for research and development. If you want AI to discover a lot of ideas that humans don’t have time to look up, let the AI run without too much change.
Data set training still needs to happen at a basic level, and while that may introduce additional bias, the industry is constantly changing. Research and development is a far cry from billing, but your billing AI can help you see future potential.
Whether you’re interested in just billing technology or want to branch out to more advanced tech, AI and automation will often be two of the most vital topics. For more details, contact a business technology expert.
Tarah Mills has always had a passion for writing. Her philosophy is that not only can writing be educational, but it can change the world. While she is dedicated to her work, she still enjoys a good game of basketball, curling up to a good book, and all things Star Wars. She currently resides in the Richmond, Virginia area with her family.