Substandard information availability costs a fortune
Companies with more than 100,000 employees suffer an average of $62.4 million in damages per year because of poorly informed employees. These are direct damages in the form of lost sales due to the employees’ inability to properly serve their customers. The indirect damage from poor information availability is even more extensive: Fortune 500 companies lost an average of $1.2 billion per year in 2019 due to poor communication and substandard information availability. This problem extends to staff such as account managers and inside sales representatives who are unable to find the right information at the time it’s needed in their customer interaction. Information is scattered throughout a variety of systems and documents – a jumble in which a significant portion of staff simply cannot find their way, day after day.Not an information problem, but a communication problem
Information that a customer asks for often does exist somewhere within the organization. However, employees do not always manage to fish this knowledge out of the system and deliver it to the customer in time, if at all. It’s a problem about communication, not information. Any company that grows from a few dozen to a few hundred employees, or even beyond, faces this internal communication problem: How do we get information from all our departments to «the front end»? How can we bring the information to the account managers and salespeople with the customer contact?Internal AI creates order out of chaos at a stroke
To solve this communication problem, companies are now investing a lot of time and money in employee training,coaching and improvements when it comes to internal information systems. They implement new search engines, develop training modules to teach staff how to deal with knowledge bases and then have those staff coached on how to use them. However, this is often far from successful. This then results in a never-ending cycle due to continuous staff turnover. The good news is that AI systems can now be designed to perform searches and deliver information like we’ve never seen, finally bringing order to the information chaos that riddles most organizations. It’s worth noting that “internal AI” differs from external AI in three ways:- They have access to your internal information systems and data, where you choose which data can and cannot be accessed by the system;
- You can limit where they get their further knowledge from, and so they cannot get their input from competitors or other undesirable sources;
- They can only be used by in-house employees, and not by external parties or customers.
