PROBLEM STATEMENT
Businesses face challenges in providing consistent, high-quality customer service. Customers often encounter long wait times, inconsistent responses, and may not receive 24/7 support, leading to dissatisfaction and potential loss in business.
SOLUTION
Developed an LLM-powered chatbot that offers round-the-clock customer service. The chatbot uses natural language processing and runs on top of our client's knowledgebase (curated databases) to understand and respond to customer inquiries, manage bookings, and provide detailed product information. It integrates with the company's CRM for personalized service.
Impacting Business Decisions with TeraCrunch Solutions
The solution resulted in an operational pipeline that automates the initial stages of rating sheet creation, including data extraction, preliminary filling, and chart generation. It successfully replicated the manual process, reducing the time and effort required. This AI driven automation initiative by TeraCrunch for the Investment Bank represents a significant enhancement in efficiency and consistency for the credit rating process. It lays the groundwork for a fully automated system that will offer fast, error-free rating sheets, providing the client with a robust tool for their investment analysis and decision-making.
RESULTS
TeraCrunch solution allowed the department to enhance efficiency, improve accuracy and improved customer experience
Customer Satisfaction:
Increase in customer satisfaction scores by 45% due to immediate, accurate responses and reduced wait times.
Query Resolution Efficiency:
The chatbot resolves 80% of routine inquiries autonomously, minimizing the need for escalation to human agents.
Human Resource Allocation:
Staff can dedicate 50% more time to complex problem-solving tasks, enhancing overall service quality.
Operational Cost Savings:
Implementation of the chatbot leads to a 30% reduction in customer service operational costs annually.
