How AI Can Boost Your Small Business

AI has been on everyone’s mind lately. From ChatGPT and image creators to AI chatbots and automated marketing tools, the AI industry has exploded in recent years. If you’re a small business owner, this isn’t something you can ignore. That’s because AI can help you stay nimble and competitive in your market.

AI can take over manual tasks so you have more time for bigger things, like applying for business loans to grow your company or developing new products. It can also analyze large data sets to help you make more strategic decisions. Here are a few ways AI can boost your small business.

Automate expense management

Collecting receipts, categorizing them, and then filing all those receipts is important for your business finances, but it’s also time-consuming. AI-powered expense management tools connect to your bank account and can automatically collect and categorize expenses for you based on customizable rules.

Take over website support

Offering live support is out of reach for many small businesses. However, AI-powered chatbots make it more accessible. Using tools like SendBird and ChatBot, your business can offer 24/7 customer service right on your website. And these bots are smart! You can set up conversation flows yourself or the bot can scan your documentation to answer most customer questions.

Make marketing easier

Managing multiple social media accounts, your website, and paid ads can be a full-time job. Using AI-based marketing tools, like social media schedulers and SEO research tools, you can automate a lot of the most time-consuming marketing tasks. There are even tools to help you write captions, find the right hashtags, participate on social media, and offer SEO recommendations.

Faster, hands-off invoicing

How long do you spend on invoicing? How often do you have to follow up to remind clients or customers to pay your invoices? With AI, accounting tasks can be streamlined or entirely automated.

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Using AI-based invoicing tools, you can send invoices with one click and then set up rules to automatically send out reminder emails, thank you messages, or upsell current customers. You’ll get paid faster (since invoices go out quicker) and spend less time on invoicing.

Streamline supply chain management

Effective supply chain management can reduce your costs and improve your bottom line. But it can be time-consuming and lead to costly delays, lost sales, and unhappy customers. AI-based supply chain management tools can quickly analyze massive amounts of data to improve demand predictions, spot inefficiencies, and track shipments in real time. This leads to happier customers and a healthy bottom line.

AI can be a game-changer for small businesses looking to stay competitive. It can save time, improve customer service, and help your business thrive.

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