There will be a 400% increase of artificial intelligence (AI) handled customer service interactions by 2021, according to the leading research company Gartner. Virtual digital sales assistants backed with a machine learning algorithm will also be on the rise, giving businesses an estimated 25% improvement in revenue growth. As a small business owner, what does this even mean?
Expensive.
Complex.
Scarce resources.
I know what you’re thinking. Would you invest in a tech in its early stages, requiring very specialized talent and not to mention very expensive? Good news is artificial intelligence is no longer rocket science. In fact, off the shelf products can transform small to midsized companies toward digitization for as low as a $40 per subscription.
AI for Small Business
Microsoft Dynamics 365 is a combination of a Customer Relationship Management System (CRM) and Enterprise Resource Planning (ERP) application that uses a common data platform. A brainchild of Microsoft CEO Satya Nadella, Dynamics 365 can be easily extended so that data from various sources can be utilized instead of having them in silos.
Artificial Intelligence for Sales and Customer Service
Dynamics 365 uses predictive and prescriptive machine learning algorithms to help small companies gain more insight into customer behavior. This allows them to identify the best strategies and outweigh competition through better pricing.
Microsoft Dynamics 365 for sales can also help small businesses target the right customers by knowing who has the highest possibility of selling. It even can collaborate with customers on a personal level using insights coming from data of various sources such as LinkedIn or Office 365.
Dynamics 365 can also create better customer service experience through harnessing loyalty, improving satisfaction and efficiency. Small businesses can leverage their own data to gain insight, shortening waiting times and improving current processes. This increases the rate of issue resolution and transforms a small company towards a leaner operation. With built-in dashboards through Power BI, Dynamics 365 can create reports that businesses can use to track in real time performance even across various locations.
Internet of Things
IoT is an ecosystem of things, communications, applications and analysis which use can range from transforming business operations to revenue generation.
IoT devices can be integrated with Dynamics 365 through the Connected Field Service add-on. This enables small businesses to take a more proactive role in providing services and even predict consumer needs right before they need it.
The technology works by having registered IoT devices send a message to Dynamics 365 workflow engine and execute an action such as taking a corrective action or make an inventory forecast.
IoT can also help automate system self-diagnosis through using real-time performance report, reducing the need for human intervention. With this, technicians will only be requested when needed, maximizing their hours and removing the waste of return visits.
Embedded Analytics
The capability to do data analysis without leaving the application, otherwise called as embedded analytics, is another powerful feature of Microsoft Dynamics 365.
Embedded analytics enable users to do diagnostic, predictive and even prescriptive data evaluation without even realizing it.
Simple, yet powerful, small businesses can weave data science to increase office productivity through tracking business performance, data visualization, and interpretation. With this, small businesses can create a data-driven decision-making culture. This extends the power of data science not only amongst core operations but also to non-IT roles such as human resources and finance.
Microsoft Power BI can be embedded into Microsoft Dynamics 365 using PBIX files or adding direct links to Power BI hosted reports. Power BI Embedded service also comes packaged with all cloud hosted and multi-box deployments and doesn’t require a separate license.
Full Application Suite
Being primarily a cloud-based application, the product combines the best of Microsoft products such as Office 365, Power BI, Cortana Analytics, Azure IoT, Microsoft Dynamics and more recently AppSource into a single system.
Perhaps what separates Dynamics 365 against its competitors is AppSource. It allows both enterprises and small to medium size businesses to a suite of applications that can be integrated seamlessly without compromising productivity nor security. It is through AppSource that businesses can digitize workflows and processes without having to look outside of the Microsoft Dynamics ecosystem.
Flexible Pricing Model
Dynamics 365 follows a typical software as a service pricing model. For a small business, this means that subscription can start for as low as $40 per user which can be easily scaled up as the business grows.
The key to getting the most out of Dynamics 365 subscription is knowing specifically the business need. Are you looking for a CRM or ERP solution? Or both? Maybe you just need specific functionalities – then you can purchase apps individually and create your own suite.
Small businesses can also prioritize which employees need a full access or which ones are good enough with a read-only view. Microsoft Dynamics 365 for small business has Team Member, Essential User and Professional User licenses that is perfect for SMBs which wanted to keep the cost at a minimum.
Start with a free trial
Artificial intelligence can set a company apart – no matter how small or big it is. AI tech through flexible Software as a Service models such as Dynamics 365 makes this possible. Machine learning, IoT, Insights, and a full turn-key solution are just a few capabilities for small business. Microsoft offers a free 30-day trial. Start with your own proof of value and experience it yourself.
