From Complex to Simplex: How Simplex Streamlined Their Support Operations

Written by Priya Balasubramanian  on   May 26, 2022

Netomi’s customer base spans a range of industries, from travel and retail, to gaming and fintech. This also includes Simplex, a fintech company that allows customers to use their existing financial institutions to buy and sell crypto assets, working with partners to “make cryptocurrency accessible to all.” I recently sat down with two of our customers – Simplex’s Mark Faber and Greta Zubrutė – Barčienė – to chat about the importance of customer satisfaction, and how their chatbot, Sarah, works alongside agents to deliver 24/7 support.

Watch the recording below! 

Developing an Always-On Support Strategy to Handle Unpredictable Spikes in Demand

“It has always been important for Simplex to have a direct contact with our end-customer, and we decided that it was important for us to be able to have immediate interactions with our customers as they were using our product,” Mark emphasized. “[For instance], if they are doing credit card processing or dealing with something that is generally quite unfamiliar to them, we felt it was important to respond to them immediately and quickly.”

By its nature, the cryptocurrency market is unpredictable, and, with prices constantly fluctuating, goes through periods of ups and downs. Alongside this volatility, Simplex’s support team also faces unpredictable spikes in demand. “If we could predict what will happen, I think we would all be doing crypto trading rather than what we are currently doing,” Mark said, citing a recent instance when certain coins that Simplex’s platform supported were extremely popular.

During that time, customers had plenty of questions and concerns, and Simplex’s support team was unable to deal with the large volume of support tickets. As such unexpected surges will likely occur again in the future, the team looked for a comprehensive strategy to help them streamline their operations – one that is scalable, yet also preserves that all-important personal touch.

Simplex & Netomi: A Match Made in AI heaven

In searching for an AI-powered solution, the Simplex team sought one that met several criteria:

  • One that really understands what customers are asking
  • One that is is fully integrated into their support platform (Zendesk)
  • One that can support multiple channels (such as social media, email, and chat)

The team started working with Netomi in June 2021 to launch an AI-powered virtual assistant on chat.

For the Simplex team, maintaining a human touch is critical when it comes to providing support, which is why Sarah works in tandem with human agents to swiftly handle queries such as email verification, basic troubleshooting and checking payment status. “It’s important for us to have human agents available at all times,” Mark added. “We feel like we have gotten to a point where we have the right number of people to be able to handle the kind of requests that we have…it is not a question of shrinking the team, it is a question of not having to grow it.”

As customer satisfaction (CSAT) is also extremely important to Simplex, ensuring a seamless support experience is also critical. “Prior to the bot, the team maintained a high customer satisfaction score,” Greta noted. “Looking into the overall customer experience, we are looking forward to deleting the boundaries between the bot and the agents, so customers would have a strong sense of good support despite the fact that they are talking to a bot or an agent…there should be no difference if the customer is talking to AI or a human being.”

For other companies looking to implement an AI solution, Greta pointed out, the process takes time, from creating use cases, to training and making enhancements to the chatbot.

“It’s ongoing work every single day, but the results are really rewarding,” she said. “You need to do your homework by understanding your demand drivers, identifying scenarios that potentially could be automated, and evaluating your volumes.”

Would you like to see similar results? We’re can help your organization spearhead its digital transformation efforts, send us a message to see how!

Forging Connections in the Cloud: How SaaS Companies Can Leverage AI to Deliver a Superb Customer Experience

Written by Priya Balasubramanian  on   Apr 28, 2022

It is a digital world indeed, and one in which software, in its various forms, stands as a vital component of daily life. Also known as “on-demand” software, Software as a Service (SaaS) refers to a licensing and delivery model whereby software is licensed on a subscription basis and hosted centrally. A SaaS cloud-based service is accessible through an internet browser, rather than users needing to download and install software on a PC or business network.

Empowering businesses around the globe, SaaS platforms are widely adopted for their accessibility, compatibility, and operational management – whether that is for hosting company-wide meetings and webinars (Zoom), sending and analyzing engaging email campaigns (MailChimp), or even signing legal contracts (DocuSign).

Demand for SaaS-based software or services increased in recent years, as, with the rise of remote working, the COVID-19 pandemic encouraged the use of on-demand, scalable cloud models for businesses to achieve both cost efficiency and business continuity. With the increasing use of smartphones and app-based services, as well as the widespread adoption of the public and hybrid cloud, this burgeoning market is only predicted to grow – while the global size of the SaaS market stood at USD $144.17 billion in 2021, it is forecast to reach USD $703.19 billion by 2030. And with this incredible growth, comes competition and a threat of losing customers if their expectations are not met.

The Evolving SaaS Landscape and The Rising Role of Customer Experience

The scalability of cloud infrastructure has pushed the major pain points of scaling a business from technical issues to ones on the customer side, those related to customer satisfaction and engagement. In this fast-paced industry, creating loyal customers and reducing churn rates with continual subscriptions are top of mind for every SaaS leader.

In this highly competitive era, the SaaS business model requires a new approach to customer service and customer experience. B2B and B2C customers expect quick resolutions to their issues and if their expectations are not met, they are quick to churn to a competitor. Keeping customers happy has never been more important, or harder, which is why increasingly, SaaS companies are leveraging AI-powered virtual agents to automate repetitive interactions.

AI-powered virtual agents offer SaaS companies many benefits, including:

The ability to scale with the business, without the added headcount

With the SaaS model, how quickly a business is able to scale is no longer limited by needing to produce and ship physical goods, such as a company that sells bluetooth headphones.

So what is it limited by? It’s not the product, but it’s interactions with people; both those interested in purchasing a service as well as a company’s current customer base.

While increasing one’s outbound marketing spend can bring more potential customers into the top of the funnel, after that, businesses are limited throughout the rest of the process by both their number of employees and how much support they are able to provide. It isn’t just a question of money, and this is where we hit our first major bottleneck in scaling a SaaS business – it’s time – time to source, onboard and train the correct talent, and familiarize them with the service offerings. 

That’s where AI-first customer experience platforms such as Netomi’s customer service chatbot come in – playing a key role in saving valuable agent time that would otherwise be spent triaging client’s and prospect’s questions. Automation of repetitive queries allows them to instead focus their energy on those tasks that are of higher value, carry greater complexity and require more creativity and critical thinking – skills that are vital for members of today’s workforce to flex and hone.

“Technology makes your people more efficient and more effective. It lets you scale across all your customers. But most importantly, it lets you make sure that you’re putting your resources into the efforts that actually have an ROI.”

– Nick Mehta, CEO, Gainsight

Offer timely and proactive support to reduce churn and grow revenue 

Many SaaS companies offer multiple products, at multiple subscription tiers. AI-powered virtual agents can link to a CRM platform to understand the customer’s history and usage in order to up-sell specific features in the exact moment of relevance to encourage a customer to upgrade. It can also preemptively intervene if a customer is at risk of churning with offers, competitive differentiators or other incentives to keep a customer.

In remote and hybrid work environments, troubleshooting issues are bound to occur – and AI helps support teams and customers deal with these issues swiftly and efficiently.

How can SaaS companies take their support one step further – going above and beyond to deliver an excellent customer experience? Harnessing the power of AI, SaaS customer service can take a more proactive and predictive approach – rather than waiting until a customer reaches out with a query or request, what if customers were alerted to issues before they even become visible (such as: ‘We’re getting a lot of questions about this new feature. Let me show you how it works!’) What if such service, that which is preemptive, proactive and highly personalized, was provided in real-time, and at the exact moment of need? This is the power of AI-powered solutions.

Offer a personalized touch in a competitive market 

When it comes to the customer experience, AI is helping SaaS companies meet the levels of personalization that customers have come to desire and expect, and the expectations of SaaS customers are higher and becoming sophisticated and evolving. Research from Salesforce found that 52% of customers expect offers to always be personalized – this is up from 49% in 2019.

AI powered chatbots are able to tailor the interaction based on customer profile and behavior. Such a chatbot can demonstrate that it comprehends prior interactions and customer preferences – noting, for instance, that a customer has asked about subscription options for students in a past inquiry. Might they be interested in a company’s special offer for the upcoming new semester?

How SaaS Companies Can Leverage AI to Conquer New Heights

For SaaS companies, helping businesses and individuals maintain their productivity and thrive in today’s digital-first environment is the ultimate end goal. How can these companies successfully retain their customers, turn them into raving fans and help them to get the maximum value out of the SaaS solution, all while growing their own businesses? A little extra help from AI will make a big impact in this area, especially as demand for SaaS products only grows. In this fast-moving industry, it will be those businesses that integrate AI into their technology stack that will forge ahead, seamlessly scaling their operations while focusing on maintaining long-term relationships with their customers.