How AI/ML can Improve Automation for Quotation Process?

In today’s time, there’s nothing more concerning than losing your prospects due to delayed responses. It’s all too easy for your future clients to look for other vendors and choose a quotation that fits them better, but it will cost you a fortune in sales. By bringing together two evergreen technologies – AI/ML & RPA, you can achieve Intelligent Quotation Automation whether you need to extract data from email, or calls or post, and ensure that you never overlook an enquiry again.

With automation and AI/ML, you can simplify your enquiry processing, allow your workers to focus on more strategic tasks and provide answers to the quotation requirements in just seconds.

Most of the time, it gets very hard to reply to potential customers on time and takes a lot of manual effort, particularly in the case of quotation enquiries. Dealing with a daily influx of over 100 enquires requires dedicated personnel to manually extract the relevant customer requirements. Subsequently, these requests are forwarded to HR service level agreements (SLAs) who, due to their own time constraints, often struggle to deliver timely and accurate quotations.

The constant back-and-forth tasks, such as extracting data from emails, calls, posts and navigating through various backend systems, including ERP and CRM consumes a lot of valuable time and introduces the risk of errors, diminishing the overall accuracy and efficiency of the workflow.

The manual nature of the process poses another challenge of scalability. As the workload increases, businesses face challenges in meeting growing demands, necessitating the hiring of additional staff. This not only incurs higher costs but also introduces limitations in terms of scalability. Considering the substantial costs and time constraints associated with hiring HR service level agreements (SLAs), redirecting these funds to more impactful areas of the business can enhance efficiency and financial outcomes.

Furthermore, analyzing and reporting on quotation requirements or customer sentiments is a complex task when performed manually. Integration of analytics tools could automate this process, providing insightful reports to enhance workflow efficiency.

Sunflower Lab’s Intelligent Quotation Automation revolutionizes your enquiry processing journey by harnessing the power of StaCy’s pre-trained Named Entity Recognition (NER) as our core AI/ML model. Specifically designed to tackle business challenges related to accuracy and efficiency, NER excels at identifying and categorizing specific keywords, such as people or places, from your text. Alternatively, we can integrate other AI/ML libraries like Gensim or NLTK into our email extraction system. Your text can be a transcript converted from a call, or a direct email or a scanned post.

NER plays a crucial role in our model, ensuring that even unstructured data can be processed without human intervention. When a prospective client requests a quotation for products, our intelligent solution, driven by Power Automate as our automation tool, takes charge. It automatically extracts and processes data, utilizing NER technology to identify information distinguished by specific keywords or product references from the text. This information is then sent back to Power Automate, which extracts the necessary product data from ERP systems like Microsoft Dynamics 365 Business Central, SAP Business One, Oracle NetSuite, or CRM systems like Salesforce, Dynamics 365, etc., to create a quotation.

Utilizing advanced AI/ML technologies, such as Generative AI, Predictive Analysis, and Sentiment Analysis, we enable the generation of tailored replies to your prospects, significantly reducing manual efforts. This streamlined approach ensures efficient automation without compromising accuracy.

In addition to ensuring timely responses, our system places a high emphasis on accuracy and preventing missed enquiries. If the NER model encounters difficulties in understanding the content, it promptly notifies you, enabling personalized intervention. Sunflower Lab is committed to ensuring no enquiry goes unnoticed, providing a comprehensive and efficient solution to your communication needs.

Let’s suppose you get 100 potential clients reaching out to you via mail, calls or any other source of communication, in a day and you need to create Quotation based on requirement of the prospect.

So, in the manual process, the total estimated time for handling 100 emails would be 1500 minutes and cost associated would be 30$ per day. In contrast, the time taken in an automated process would depend on the efficiency of the automation solution. If, for instance, the automation can handle all 100 emails within 30 minutes and the cost associated with it would be 30$ on an average.

Thus, it gets definitely clear how can automation help you save your employees from repetitive tasks while saving costs and time as well.

Intelligent Automation has many advanced technologies which benefit businesses in a lot of ways. To connect to your prospects on a personal level, it is important to reply to their concerns and requirements on time and make a considerable impact using them. Below are a few benefits that you will achieve in your business with Sunflower Lab’s Intelligent Quotation Automation Solution.

• Scalability :- Any business which can smoothly handle the growing demand of the industry is definitely reaching the top. With email automation, you can handle any number of emails, whether it’s 100 or 1000 without any hassle or ever being involved in that.
• Cost Savings :- Obviously, cost saving is an added benefit as now you don’t need to hire HR SLAs or employ your highly trained staff for such repetitive tasks.
• Adaptability to Customer Behavior :- With technology like Sentiment Analysis, you can identify customer behavior and revert with tailored content that suits them better.
• Segmentation and Targeting :- Automation helps you segment your audience based on various criteria. This can help you to attain targeted communication to deliver the right message in the right manner, increasing the likelihood of conversion.
• Optimized Campaigns with Analytics :- With advanced integrations, you can track the performance of email campaigns, achieving insights for future campaigns, improving open rates, click-through rates, and overall effectiveness.

There can be many improvements made in different industries whether it’s manufacturing, healthcare or retail with the combination of AI/ML and RPA. Intelligent Email Automation cannot only be limited to automating email replies or enquiry replies with information, it can also be useful to classify emails – like if any email is spam, for sales or marketing, etc. It might be used in order processing or confirmation, enquiry and other areas which can always be explored, if we work together.

With advanced technologies by your side, you can improve your business workflows and achieve your goal in a better and quick way.

Our automation solution is trustworthy and reliable. With Sunflower Lab’s NER model, you can speed up your workflows and remove the human intervention in repetitive tasks. This will help you and your employees indulge in more strategic and brainstorming work, enabling your business to grow in this dynamic landscape. Let us focus on your workflows, so you can better focus on your customers.

Let’s intelligently automate your processes together. Contact Us today and our team would be happy to discuss with you.