After a detailed review of Service Optimization in the previous post, part three shifts our focus towards understanding the tangible return on investment (ROI) of improved customer service. Businesses investing time, money, and resources into customer service transformation should have a clear understanding of the potential return on investment (ROI). Fortunately, there is plenty of data demonstrating the value of investing in customer experience (CX).

The money in our wallets doesn’t go as far as it used to. Prices are increasing—the cost of low fat milk was around forty five per cent cheaper in December 2021 than today. Meanwhile, the phenomenon of ‘shrinkflation’, a form of hidden inflation, means we’re all paying more and getting less in return. Companies across the board, from small independent businesses right up to the biggest retailers in the country, are finding it hard too.

Understanding the latest advancements in artificial intelligence (AI) can seem overwhelming, but if it’s learning the basics that you’re interested in, you can boil many AI innovations down to two concepts: machine learning and deep learning. Examples of machine learning and deep learning are everywhere. It’s what makes self-driving cars a reality, how Netflix knows which show you’ll want to watch next and how Facebook recognises whose face is in a photo.

The world is changing and customer experience is shifting alongside. Advances in technology, combined with new and ongoing business challenges, put us all under pressure to continue to evolve, improve and do more for our customers. Many businesses have managed through supply chain disruptions, rising costs and the ongoing shift into the digital landscape – all while under a cloud layer of ongoing economic uncertainty. Companies are faced with tightening margins and cutting costs.

Despite the hype, AI isn’t here to replace your human agents. On the contrary, when human agents and AI join forces, they form a powerful CX team – one that builds on their strengths, while minimising their weaknesses. Your agents shouldn’t be bogged down by busy work. With AI in their corner, they can instead focus on the tasks that make a difference. Which results in a better experience for all involved.

Welcome back to our ten-part blog series on Customer Service Transformation. In our previous blog post, we examined the evolving topic of B2B service trends. Today, we continue to draw further insights from chapter two of the Vivantio eBook, The Complete Guide to Customer Service Transformation – where we explore the cornerstone of this transformation – Service Optimization.

Building software that delivers value to customers comes naturally to us at Freshworks. Sometimes, it also comes “artificially”—such as through innovations in artificial intelligence, including generative AI. Businesses around the world are already realizing the transformative potential of generative AI through automation and productivity-enhancing tools.