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It is fairly easy for large enterprises to adopt emerging technologies like AI and machine learning to streamline their business processes. But SMEs are still trying to understand if these cutting-edge technologies bring any value to them. 

SMEs need to adapt rather quickly to changing business conditions by transforming their processes and products to increase their productivity and outreach and to scale-up, or else alter market conditions by innovating new ways of working. 

AI can alter the business landscape in which these SMEs operate and ease the conditions under which they do business. Furthermore, irrespective of the organisation size, access to relevant and quality data is very important to ensure successful acquisition of market share.

Relationship intelligence is the way forward — not only for large enterprises, but also for SMEs. With AI-based data insights, SMEs can reveal new opportunities for business growth.

Forming Informed Strategic Decisions

The first and most impactful of all benefits of relationship intelligence is the ability to make informed strategic decisions backed by complete, accurate and real-time information. 

Relationship intelligence can prove to be vital for SMEs because it emphasises on understanding and measuring an organisation’s collective network. It also takes into account any unstructured information that can influence an organisation’s strategic decision making.

One way of looking at relationship intelligence is to think of them as building blocks containing better insight that businesses can utilise for addressing specific needs better.

Identify Trends and Patterns

This goes directly in hand with the above because relationship intelligence enables SMEs to spot trends and patterns that will lead to the optimization of resources and processes. 

It is vital for SMEs to react quickly to the ever-changing market trends to remain competitive. The earlier they recognize these, the sooner they can react, prepare for potential threats, and take advantage of upcoming opportunities. 

With relationship intelligence, SMEs can analyse the overall environment in which they are operating and gain a solid grasp of the market by correlating data sets.

Drive Performance and Revenue

Relationship intelligence platform enabled by AI can take customer relationships to the next level. The platform provides valuable insights, right from the first interaction with existing and prospect customers as well as automated marketing & lead generation. 

The AI-powered platform conducts a real-time analysis to offer recommendations and predictions based on the business processes and customer data of the company. Furthermore, it can also adjust the lead generation and marketing activities based on the result of data analysis, for instance, to enhance customer targeting and construct communications that are more precise.

Improve Operational Efficiency

Having access to relationship data and understanding how to use it in your business endeavours can be your competitive advantage. Providing team members an easy access to the right data makes it easier for them to do their jobs more effectively and efficiently.

Uncover the “whys” of every deal lost and won

To help prioritise sales opportunities and reduce reliance on gut-feel or false optimism, a relationship intelligence platform can predict the likelihood of closing an opportunity on the basis of past deals won, thereby increasing the accuracy of your forecast.

Reveal New Opportunities with Mitibase

Mitibas, a relationship intelligence platform, shows you how you can take full advantage of your entire team’s network, and help you to identify new possible connections with individuals and businesses to capture more warm leads. The platform will help you grow your revenue through AI-guided insights.

Want to know how Mitibase can transform your organisation’s operations? Book a demo to see it in action!

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