The traditional way of doing mundane tasks is now becoming redundant when AI takes over, especially when doing things manually costs small businesses way more than it should. Tasks like scheduling meetings, tracking payments, monitoring reviews can saturate workflow and operations. On top of that, it can also lead to high operating costs, burnt out employees, inefficient time management, missed insight opportunities and compliance risks.
Let’s review these hidden costs so we can see why there is a need for AI solutions for small businesses.
Doing things manually may seem like an affordable alternative, until you get into the specifics to see how it drains your budget.
For tasks as simple as scheduling meetings, answering calls and chats, tracking payments, etc., you may need to onboard multiple representatives. And the work does not end there; you have to adequately train them, accustom them to the work environment, and deal with rookie mistakes. This itself occupies a big chunk of your time and costs, and will continue to grow as your business grows.
Regardless of how efficient and well-trained an employee is, being human makes them prone to making mistakes. It could be a seemingly small error, like scheduling a meeting at the wrong time, or a more serious one, like transferring misinformation to a customer. As long as you have humans doing tasks that AI can do better, this problem will persist.
Time is a resource that is too precious to waste, and so no one wants to be caught up in time-lagged processes like hour-long waiting time to speak to a representative. Aside from this, if you are manually keeping track of payments, you are more likely to miss due dates or jumble up the amounts. Automating this process would not only make the work quicker but also make it more skill-oriented than memory-oriented.
The repetitive nature of manual tasks can cause employees to burn out. For instance, answering customer queries for hours on end can reduce employee productivity and compromise the customer service experience. On top of it, the service quality will also vary from agent to agent, which also raises a question about the homogeneity of services.
AI is always monitoring, tracking, improving and adapting things to your business goals, ideas, and processes. However, if a human were to do this job, they will likely miss out on key insights that a well-trained AI tool will effectively capture. Identifying patterns and trends that unfold over the course of years becomes impossible with manual processes. This will cost your small business sales opportunities as leads go cold with inconsistent follow-ups.
When doing things manually, it is easier to overlook important compliance requirements like data protection laws, payment processing regulations, or industry-specific standards. While AI systems are programmed to follow guidelines consistently, the same cannot be said for humans handling sensitive tasks. This seemingly small concern can transform into a legal nightmare, leading to hefty fines and a damaged reputation.
With AI solutions taking over, the costs of manual processes can be minimized. By automating repetitive tasks and removing the manual element from them, you can reduce rookie mistakes, time lag, and the overall costs. All you need is a superior AI tool that is well-versed in your business, and you can rely on it to provide services aligned to your business values, objectives, and tone.
Let’s skim through the benefits of AI solutions.
Continuing to use manual processes adds hidden costs that negatively target productivity, efficiency and profitability. For instance, inconsistent services, unending wait times, missed leads, delayed payments, lost reviews, damaged reputation and missed sales opportunities pile up and cost way more than you think. However, AI solutions for your small business are a quick fix to all these problems and can help you stay at the top of your game!