Blog Post
In today's post-pandemic, inflationary manufacturing and distribution landscape, the pressure is mounting on companies to exceed customer expectations while increasing profitability. While nailing these two KPIs sounds good in theory, balancing them is easier said than done.
Our recent webinar, Revealed: Secrets to Boost Customer Satisfaction & Ship More Perfect Orders, delves into how businesses can harness the power of Artificial Intelligence (AI) to enhance their order processing systems, thereby achieving higher accuracy and customer satisfaction.
Hosted by Conexiom’s CMO, Chris Bauserman, and SVP of GTM Operations, Tiffany Alexander, the session provided a wealth of insights into the integration of AI technologies to streamline operations and reduce errors, which are crucial in today's competitive B2B environment. We’ll cover the key takeaways in this post but encourage readers to watch the on-demand recording to deepen their understanding of optimized order management processes.
Leveraging the Connection between Customer Experience and Order Accuracy
In the current landscape for manufacturing and distribution, the emphasis on customer experience and order accuracy has never been more pronounced. As companies increasingly digitalize their operations, the goal is not just to keep up with the competition but to significantly enhance customer satisfaction and minimize order errors. This shift is largely driven by the evolving expectations of B2B buyers who now demand a consumer-grade experience in their professional procurement processes.
Chris points out that B2B buyers are not just looking for products; they are looking for seamless, error-free buying experiences.
He goes on to say, "Your buyers, B2B buyers are really now expecting a consumer-grade customer experience... What's not an okay churn is if you're not able to fulfill their expectations about order fulfillment excellence."
This underscores the necessity for businesses to prioritize not only the speed and efficiency of their order processing but also the accuracy and reliability of each order fulfilled.
He also shed light on the tangible benefits of digital transformation in order processing. By adopting advanced digital tools, companies can reduce the frequency of order errors, which are not only costly but can also damage customer relationships. The cost of these errors is substantial, averaging around $18,000 per error, highlighting the high stakes involved in order processing and the significant impact of digital proficiency on a company's bottom line.
The Role of AI in Enhancing Order Processing and Fulfillment
Integrating AI into your order processing and fulfillment can revolutionize how businesses handle their operations.
Tiffany Alexander, Senior Vice President of Solution Engineering at Conexiom, explained the transformative impact of AI, stating, "We can use AI today to now be able to do that in more of a copilot mode, to be able to extract information." This approach not only increases the efficiency of processing orders but also ensures a higher level of accuracy and performance.
AI technologies, like Conexiom's Sales Order Automation, are designed to automate the extraction and validation of information from orders, seamlessly processing them into enterprise resource planning (ERP) systems. This automation significantly reduces the likelihood of human error, which is often a major contributor to order inaccuracies.
There are efficiency gains to be had by using text-based processing over image-based methods, with ongoing enhancements to AI solutions, including augmenting optical character recognition (OCR).
"The accuracy and efficiency of processing any of those inbound document orders, whether it be PDF or excel or other documents, is always better if it's text versus image... we do have OCR option as well, and we do have on our interactive roadmap right now additional improvements and enhancements to work on that," Bauserman noted.
By continuously improving AI capabilities, Conexiom aims to support businesses in achieving near-perfect order accuracy, thereby enhancing overall customer satisfaction and operational excellence.
The Evolution of Order Fulfillment: AI-Driven Improvements on the Horizon
Leveraging AI in order processing and fulfillment is not just a technological upgrade but a strategic necessity for businesses aiming to enhance customer satisfaction and operational efficiency. As businesses continue to navigate the demands for a consumer-grade customer experience, the role of AI in achieving these expectations becomes increasingly crucial. To stay competitive and forward-thinking in your industry, embracing these AI-driven solutions is key.
Learn more by watching this full webinar on-demand!