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The Role of AI in Enhancing Customer Experience in India

  • By Readywire
  • July 8, 2024
  • 42 Views

The automobile industry is a crucial sector of the Indian economy, with dealerships playing a pivotal role as the final touchpoint in the customer journey. Dealerships serve as the tip of the spear not only for automotive OEMs but also for the insurance and banking industries. They also function as collection points for the government in terms of GST and direct taxes. Essentially, dealerships are the critical link in a complex chain.

Despite their high complexity, dealerships remain the least digitised segment within this ecosystem, often relying on manual processes and off-the-shelf applications. As customers and other stakeholders become more demanding and sophisticated, and as automotive products evolve, dealership operations are becoming increasingly complex. This continuous layering of complexity is putting enormous pressure on dealerships.

Dealing with these OEM complexities requires efficient processes on the part of the dealership. In the current situation, dealerships incur higher costs to fulfil these complex processes because they still rely heavily on manual processes and add standalone applications to manage them. Dealerships are perpetually faced with increasing complexities and attempt to solve them by adding one more layer of manual processes or standalone systems. This approach increases costs and errors and fails to solve the underlying problem.

As one of the most critical sectors of the Indian economy and the interface between suppliers and buyers, it is imperative that this sector be healthy, and this can only be achieved through complete digitisation.

The Transformative Power of AI-Driven ERP Solutions

Artificial Intelligence (AI) has the potential to revolutionise dealership operations, providing significant benefits not only to dealerships but also to the entire ecosystem of connected verticals. AI-driven ERP solutions can optimise various aspects of dealership operations, from financial management to customer relationship management, leading to enhanced efficiency, reduced costs, and increased satisfaction for all stakeholders involved.

A New Breed of Service Providers is Needed

Standard off-the-shelf, one-size-fits-all solutions do not suffice for automobile dealerships’ unique challenges. These businesses require specialised, vertical-specific solutions that integrate all aspects of their operations into a single unified system with end-to-end digitisation. This will provide seamless automation and comprehensive data management, enhancing efficiency, reducing errors, and improving overall performance.

Digitising the MSME sector, especially those with limited budgets, calls for a new breed of service providers. These providers must focus on developing innovative, cost-effective, and scalable solutions tailored to the specific needs of high-complexity sectors like automobile dealerships. By adopting these specialised approaches, the MSME sector can achieve the digitisation it needs to thrive in today’s competitive landscape. This transformation will not only enhance the efficiency and profitability of individual businesses but also contribute significantly to the overall health and growth of the Indian economy.

 Amplifying Impact Across Connected Verticals

The digitisation of dealerships using AI-driven ERP solutions also benefits connected verticals such as insurance and banking. Efficient data management enhances interactions with these industries, leading to smoother transactions and better service delivery. For example, timely and accurate data sharing with insurance companies can expedite claim processing, improving the overall customer experience. By adopting AI-driven ERP solutions, dealerships can stay competitive, support other industries more effectively, and drive growth and innovation across the entire value chain.

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