#toptechnology

[qservicesinc1]

Technology has a huge impact on businesses today, whether they are small, medium-sized, or large-scale. The best corporate technology innovations are being utilized to their utmost extent in order to streamline operations, boost productivity, and double revenue.

𝐋𝐞𝐭 𝐮𝐬 𝐧𝐨𝐰 𝐥𝐞𝐚𝐫𝐧 𝐚𝐛𝐨𝐮𝐭 𝐭𝐨𝐩 𝐭𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲 𝐭𝐫𝐞𝐧𝐝𝐬 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐟𝐮𝐭𝐮𝐫𝐞 𝐲𝐞𝐚𝐫𝐬.

1. Artificial Intelligence

2. Voice Search

3. Natural Language Processing

4. Blockchain

5. Internet of Things

6. Edge Computing

7. 5G

8. Facial Recognition

9. Big Data

10. AR/VR

𝐅𝐨𝐫 𝐦𝐨𝐫𝐞 𝐢𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐯𝐢𝐬𝐢𝐭: www.qservicesit.com/blogs/

[radgladiatorsuit]

Top Technologies Revolutionizing the Collections Industry

The digital lending sector is expected to grow from $405.11 billion in 2023 to $710.76 billion by 2028. This is not surprising, as digitization has substantially improved the borrowing process by making it more convenient and user-friendly. At the same time, financial institutions have benefitted from a wider customer base and access to valuable data.

The collections industry is not, however, free from challenges. Concerns persist related to data privacy, lack of empathy, poor visibility into customer data, low agent productivity, etc. The good news is that the latest innovations in the market have reduced these hurdles significantly.

Here are some of the top technologies revolutionizing the collection industry:

AI Bots

Many interactions between agents and customers in the collections industry involve routine tasks, such as answering common queries or offering basic information about outstanding debts. Traditionally, these tasks were handled by human agents, which could be time-consuming and resource-intensive.

Humanized collections bots, like those offered by Exotel, are designed to replicate human-like interactions while automating these routine tasks. Notably, 47% of CX leaders have embraced AI-based initiatives, often employing this technology to develop chatbots. These bots can understand and respond to borrower inquiries in a conversational manner and resolve first-level queries without making customers wait. Moreover, they can meet more queries at a relatively lower cost.

Automated Reminders

The introduction of automated reminders is revolutionizing the collection industry by addressing a common challenge both borrowers and agencies face. Borrowers often find it easy to overlook their payment deadlines or struggle to locate the appropriate payment links. This leads to potential delays or missed payments. On the other hand, manually reaching out to each borrower to provide reminders can be a cumbersome task for collection agencies.

In response to these challenges, collection agencies have adopted automated reminder systems to boost debt recovery. These reminders are customized according to the borrower’s details and loan amount. They not only serve as a nudge to prompt borrowers to make their payments but also provide custom payment links for added convenience. Agencies can significantly enhance in-moment remittances by offering borrowers hassle-free means of fulfilling their obligations and guiding them to the correct payment links.

Predictive Dialers

Traditionally, collection agents spent significant time manually dialing numbers and waiting for debtors to answer their calls. This frustrating process led to several challenges, including incorrect or outdated contact numbers, unresponsive debtors, and non-contextual interactions. Predictive dialers have emerged as a solution to these challenges by automating the dialing process.

Calls are placed from a pre-uploaded list of debtors, and the dialer ensures that the numbers are validated and accurate. As a result, agents no longer need to spend valuable time dialing numbers manually. They are seamlessly connected with debtors who answer their calls. This automation also filters out busy tones and answer machines, ensuring that agents spend more time engaging in meaningful conversations and less time navigating unproductive interactions. Agents can now achieve 4-5 hours of talk time during an 8-hour shift, a significant increase from the past.

Advanced-Data Analytics

Historically, collection agencies had to resort to a one-size-fits-all approach while devising collection strategies. This was because they lacked sufficient customer data. However, with the advent of big data and advanced analytics, agencies now possess the tools to craft more targeted outreach strategies.

For instance, based on historical data, agents can decide the best time to reach the borrowers, leading to improved call pick-up rates. Additionally, they can categorize borrowers into different risk profiles, such as hard or soft buckets. They can then choose an online or field collections strategy and promptly identify delinquent customers. Furthermore, collection agencies can evaluate agent performance and monitor real-time conversations. This critical insight helps identify training needs, track outcomes, and ensure that borrowers are assigned to the right agents based on factors like region and predefined categories.

Omnichannel Communication

Borrowers have different preferences when it comes to communication. Omnichannel communication ensures that agencies can meet borrowers on multiple communication channels. This flexibility ensures that borrowers can engage in discussions regarding their debts through the most convenient means, ultimately enhancing response rates and fostering more productive interactions.

Unsurprisingly, around 80% of customers prefer omnichannel strategies due to the seamless communication experience. What makes omnichannel particularly powerful is its ability to integrate multiple channels seamlessly. This means that if a borrower initiates contact through one channel, such as a chatbot on a website, and later decides to call the agency, the agent has access to all relevant information. This eliminates the need for redundant explanations and boosts productivity for both borrowers and agents.

Customer Relationship Management (CRM) Systems

As agencies grow in scale, the sheer volume of customer interactions can become overwhelming. Agencies can not only end up losing valuable insights but also suffer negative consequences related to agent productivity. CRM systems, powered by technological advancements, are revolutionizing the collection industry by integrating various communication channels and data sources. This has streamlined collecting, storing, and retrieving borrower information.

Collection agencies now have a comprehensive and organized platform to manage interactions with borrowers. They have 100% visibility into borrowers’ profiles, which enables highly personalized conversations. CRM integration has also improved agent productivity by automating routine tasks, like data entry and follow-up reminders.

Partner with Exotel!

As the collections industry continues to adopt the latest technologies, it stands ready to deliver improved outcomes for all stakeholders involved. For borrowers, these innovations translate into more convenient and empathetic interactions. On the agency side, the benefits are equally compelling and include increased efficiency, reduced operational costs, and better compliance with regulations.

Collaborating with experienced industry leaders like Exotel can be particularly valuable for businesses seeking to maximize these advantages. Exotel’s solutions offer a range of benefits, from extending business reach and providing multilingual support to improving promise-to-pay ratios and lowering the cost of customer coverage. Importantly, Exotel’s collection platform ensures that customers feel supported like a trusted friend. This helps build synergy between technological innovation and customer-centric solutions, benefiting everyone involved.

[harisystems]

Top 5 Technologies in 2023 | Artificial Intelligence | Angular JS | Reac...

[sagorika]

Which are the top technology trends in 2023 by Gartner?

Which are the top technology trends in 2023 by Gartner? #Techtrends #Gartner #toptechnology

According to the latest press release by Gartner, the technology trends in 2023 are:- Sustainability: It is going to play an important role in the technology trends in 2023. Companies need to become more efficient in the use of raw materials, resources, energy, and material including in the IT sector. The targets can be met with the use of transparency in the process, analysis, renewable…

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[ethreesixty]

Top Trending Technologies to Learn in 2020

2019 has seen some incredible growth in technology. Tech innovations in the fields of artificial intelligence machine learning blockchain and cybersecurity have increased significantly. Among others, such monumental rice has created a way for more innovations. So here are the few trending technologies that you should look out for in 2020. AI as a Service:

Artificial intelligence is one of the most revolutionizing technology of this age. But to build and deploy AI-based Solutions is a costly matter for most businesses. Big Brands like Google Apple and Microsoft are Head of their game and at the forefront of this special initiative, digging deep into the capabilities of this technology. To stay ahead of their competitors they experimenting and finding out AI-based solutions. The advent of artificial intelligence has changed the perfection of technology. It has proven to be one of the most transformative tech evaluation today. According to top specialists in the field, the growth of AI knows no boundaries and will continue to widen its horizon in 2020. Over the next year, we will see massive adoption and many more companies delivering AI application-specific tasks. 5g Technology:

The fifth-generation mobile network will not only connect people but also interconnect and control goods and devices. Though 5g mobile data networks became available in 2000 languages. They are mostly still costly and limited to working in major cities. 2020 undoubtedly will be the year when 5g makes its mark across the globe with more affordable data plans and better coverage. Switzerland is the current world leader in 5G. It is expected to give at least 20 GBPS downlinks and 10GBPS Uplink. Which would make it 40 times faster than the existing 4G LTE technology. Opening doors for new service network processes and customer experiences by telecom operators companies. Heavily in the development and testing of 5G equipments are Samsung Huawei Intel Ericsson Nokia Deloitte and Qualcomm.

. Autonomous driving: The fact is that self-driving cars are coming to life that has left everyone surprised. Although we do not regularly travel in or see them. 2020 will mark a pivotal year from new innovations. And the center in vehicles being so advanced in 2020 that the driver can practically take a nap. vehicles being so advanced in 2020 that the driver can practically take a nap. Personalized and Predictive medicine: Technological advancements in healthcare have saved many patients under sincerely improving our standard of life. Advances and machine learning artificial intelligence and huge genetic sequencing will guide the way to personalized health care. In 2020 combined with AI and ML their ability to apply medical knowledge, of course, past data sets will generate important new insights. Allowing doctors to precisely prescribe customized medication. Here is one top companies like Google are doing to help improve predictive medicine.

Computer Vision: I'm sure everybody has heard about the Amazon Go Google lens and faces a cognition. The significant factor in making all this possible is computer vision. In simple words, CV is a field of artificial intelligence that chains machines to see and interpret the visual world. Computer vision is fundamental to the way autonomous book since they have to see and navigate their way. Computer vision is bound to steal the spotlight with further progress in 2020. Augmented reality virtual reality and mixed reality is the commonly held buzzword these days and these emergent technologies fall inside a single framework called extended reality. Although AR and VR offer a wide range of traveling to the experiences. The same basic technologies are covering augmented reality today. In 2020 AR and VR will become increasingly prevalent for training and simulation and business objectives.

AI Products : Yet products are all decreased now. Products like alter ego or mind-reading available and robots like Sophia is only a glimpse into how big AI technology will get in 2020. These products will hit the market for commercial usage and business purposes. Companies like Dominos and Doordash are excessively experimenting with jones and robot delivery. It’s no doubt the technology is advancing towards total automation and it has already had as welcome cashier-less Amazon go store across the U.S According to CNBC there will be 3000 cashier-less Amazon go stores by 2021. Automation was also highlighted in Gartner's recently published top 10 strategic technology trends for 2020. Other technology trends like blockchain cryptocurrency robotics and data policing among others are something to look out for in the coming year.

Cognitive cloud computing: Now cognitive cloud is an extended ecosystem. That is why we can deploy knowledgeable cloud computing applications and solutions to the masses using cloud computing. Not just that it is one of the next big things in the IT industry. Plus, it can communicate in natural language and helps in decision-making by understanding the complexities of Big Data. It is expected to generate Rate a revenue of US Dollars 13.8 $ billion by the year 2020 alone. And that is why big companies such as IBM Microsoft Google and Cisco are already investing in this next Generation technology to keep up with the upcoming Market. Now cognitive cloud is an extended ecosystem. It is due to this that we can deploy cognitive cloud computing applications and solutions to the masses using cloud computing. Not just that it is one of the next big things in the IT industry. Also, it can converse in natural language and helps in decision-making by understanding the complexities of Big Data. It is expected to generate Rate a revenue of 13.8 billion US Dollars by the year 2020 alone. And hence big companies such as IBM Microsoft Google and Cisco are already investing in this next Generation technology to keep up with the upcoming Market. Big data in trending technologies:

The word has been special abuzz for quite a few years. With all these businesses moving beyond the traditional ways of data storage and processing big data has made its way to the big games. Now with all these new technologies such as Data analytics automation augmented and data as a service. Big data is here to change the game across Industries. Now while we're on the subject, let's talk a little bit about a subset called Dark data. When I write dark data, I mean all this data that is generated along with big data but is untapped. The potential is unlimited and by the year 2020. About 93% of all data is going to be categorized under this subset. Now coming back to Big Data companies which are investing in big data include Netflix Amazon Starbucks Spotify and Adobe. DARQ trending technologies:

This is a coming technology model consisting of other big trending technologies. It is supposed to be a catalyst for change in the post-Digital World. Now as you probably have noticed DARQ is an acronym. So D means for distributed Ledger which first gained its momentum in the industry with the introduction of blockchain and Bitcoin. A stands for artificial intelligence, which is bringing about a huge change in various domains. R as an extended fact including augmented reality and virtual reality. Q as in Quantum Computing which primarily means you're trying to create it Technology-based off of the laws of quantum theory. Recently Google has made a Major Breakthrough by attaining Quantum Supremacy with 53 cubits of quantum processors.

In 200 hundred seconds a million times It has successfully carried out a random circuit program, which otherwise will take more than ten thousand years through traditional computing at this. At this time 9 out of 10 businesses are testing with one or more Darkness acknowledge. Whereas every individual technology is at a different level at the adoption curve. One thing is for sure. The first wave of dark Technologies are coming soon. So congratulations to all of us the DARQ Ages here. Conclusion: The world is full of advanced technologies everywhere. This was some of the most trending technologies list I brought for you. I hope you would like it and if you know some more technology share it with us in the comment box. Read the full article

[rankwebner-blog]

If there is something that is always evolving and advancing, then a no doubt answer is technology. The popularity of technology depends on factors such as its usage, advantages, user-friendliness, ROI (Return On Investment) and etc.., Moreover if industries taste success with the use of any latest technology, then that technology becomes more successful and popular.

Can we sense and act upon these future tech trends that is unclear? The great news is that this technology penetration is highly understandable and knowable. There are technologies that have made their mark in the year 2018 and many more to hit this year 2019. These top emerging technologies change the way we work and interact with others.

[toptechnologyleader17-blog]

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[harisystems]

Top 5 Technologies in 2023 | Artificial Intelligence | Angular JS | Reac...

[technestarjun]

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[w2ssolutions]

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Meet Us at Hall No 7 - Stand No E24, Dubai World Trade Centre.

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[egrex]

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