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Monevation [SMART 100, 2018]

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This SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity.

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1. THE BEGINNING

This innovation initially came to life when…

It became increasingly difficult to communicate with clients that would constantly ask similar questions or request similar information and knowledge about topics. The requests came by instant message, email, sms. As we found many more of our friends started using multiple instant message services and moving away from email and sms we needed to centrally manage from a single portal questions and answers via chat that may constantly being asked. Also our task became more needed as chat was starting to be used 365*24*7 but with much more complicated answers required and presented in human like fashion.

2. WHAT & HOW

The purpose of this innovation is to…

…centrally manage communication using instant message platforms of Skype, Telegram, Facebook, Viber, Line, Kik and Webchat and make it easy to provide questions and answers that can be asked by users. Questions needed to be common as to how asked.

It does this by…

…a central platform, with API Integration to the platforms. The questions and answers are entered centrally based upon our teams experience and delivered via the common instant message platform. The user signs up to use the instant message platform and Monevation provides a unique link to the chatbot that they then can communicate through the signed up the platform.

3. PURPOSE & BENEFITS

This innovation improves on what came before because…

Previously communication and service was either by going to a sites FAQ or completing an online form or sending an email. The communication would be reliant on the company having staff on hand to answer. If not available it would wait until they checked the email or when the customer service team arrived. Ding now is 24*7*365 responses.

Its various benefits to the customer/end-user include…

Ease of using commonly used global platforms, users are aware of instant chat, a chatbot is available 24*7*365, it is cheap to use, simple easy interface use of smartphones, no charge per characters sent like SMS.

4. COMPETITIVE LANDSCAPE

In the past, this problem was solved by…

Having human staff sitting and answering chat queries as they came through via the online form, or to the online chat or via email. If a chatbot was available it was usually on the website only. The use of chat or communication was usually disjointed in using different communication platforms.

5. TARGET MARKET

It is made for…

Any small and medium business that wishes to communicate with their clients or obtain new clients by having a service function that helps with providing knowledgeable answers to questions that maybe asked. With the ability to communicate 24*7*365 the business does not have to pay for staffing as much after hours, weekends or public holidays. Where business wants to provide additional information and respond faster to requests from clients but also cost efficiently. The business that also wants to utilise technology more efficiently but at a lower implementation cost and compete with bigger groups.

It is available for sale through…

Direct from Monevation. As it is not a high value item it is difficult to pay a reseller part of the fee for distribution.

Our marketing strategy is to…

Use the AI ChatBot to also sell itself as it communicates with clients, this will be through social media and associations. As each of the platforms of Skype, Messenger (Facebook), Telegram, Viber, Kik and Line have social media reach we will use our AI Chatbots to resell our approach.

FINE PRINT: This SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity.

Maven Judge Vote: Monevation – Smart 100 2018
(Please note – The form below is for judging purposes only and is restricted to the public)

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