Nowadays entrepreneurs have a lot of options to choose from when it comes to business management software applications. What’s not that easy is finding the right solution and then tailor-making it to suit the strategic and operational requirements of the business. And even with so many options, there’s still no easy way for entrepreneurs to streamline their business processes, monitor performance and gain an insight into the operational health of their businesses. Various software available in the market today are good at providing tons of data in the form of reports but does not tell what to do, how to use and when to use these reports.
With startups and SMEs constituting nearly seventy percent of the businesses in the world and majority of them facing standard problems and challenges in the area of business process management, creates a huge void for introspection and improvisation.
Obizcoin is developing a Smart Business Process Automation BOT (currently in development stage) based on Artificial Intelligence and Blockchain Technology to help entrepreneurs effectively and efficiently manage their business processes and keep a tab on the operational health of their businesses.
How Obizcoin Smart Process BOT can provide an edge to startups and SMEs
BOT Domain Expertise
Lack of domain knowledge and expertise can prove to be one of the self-inflicted wounds to a business enterprise and no entrepreneur would ever wish to indulge in such a rodeo.
The BOT will be equipped with the domain knowledge of specific businesses, derived from Knowledge Pool of experts of various industry experience, to provide industry domain expert solutions.
This will help entrepreneurs save time on research and development and speed up the turn-around-time from development to execution. With the addition of new business domain knowledge, the knowledge pool of the BOT will keep on expanding.
BOT Process Design and Process Decisions
Processes are vital for an organization and can prove to be very instrumental in bringing standardization, scalability, ease in operations, efficiency and resource savings etc.
The BOT will be equipped with inbuilt processes designed for different departments like Purchase, Sales etc for different categories of organizations (startups, SMEs) for different industries like e-commerce, apparel, education, healthcare, retail, hospitality, etc. These processes can be customized according to the strategic and operational requirements of a business enterprise.
The BOT will also help businesses to take appropriate process decisions for optimum utilization of resources towards a balanced and sustainable growth of the company.
BOT Audit System
Audit is an important tool of management control. The purpose of audit is not just to travel back in time to churn out data on what has already happened but more importantly, to shed light on what can be improved.
With the help of Artificial Intelligence, the BOT will conduct process audits (tracking and reviewing processes and performances) of the organization towards improving the efficiency and effectiveness of the processes.
Operational Risk Score Analysis
Monitoring and measurement are two important requirements for improving performance. The same applies to striving for business process excellence as well.
Operational Risk Score Analysis is one of the key features of Obizcoin Smart Process BOT and it shall be helpful for startups and SMEs to determine the degree of process implementation within the organization, to measure team performance across the organization, and to assess the strengths and weaknesses of the organization.
In addition to determining the score, the feature will also include an analysis report on the top and weak scoring parameters of the organization and on strategies for improvisations.
Domain knowledge and assistance in process design and decisions can provide a strong impetus to startups and SMEs in the face of the challenges and problems which they encounter in business process management. With the passage of time, improvisations also become necessary which call for effective monitoring and measurement. And talking about business and technology, it has become very important for entrepreneurs to embrace and make use of the latest technologies which can help them manage their businesses better and also provide them a competitive edge in the dynamic business environment of the present day.
Disclaimer: The above content/article is intended only to provide a general overview and is not to be used as a basis for the exercise of any business, professional or investment judgment/action.
For detailed information, please visit the company’s website and carefully read all the necessary documents.
To read read more article related to this topic: Obizcoin: Your Virtual CEO, Make your business processes SMART with Obizcoin BOT, How Obizcoin BOT can help your Business Grow?Managing Business Efficiently using Smart Process BOT,Obizcoins’ Technology: A boon to startup community,Obizcoin will revolutionize the way of doing business!.
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