Monday, June 4th, 2018 - Monevation

Increasingly, companies are automating everyday conversations with their customers through chatbots designed to save time and money. But for small businesses that don’t have the resources to navigate the sometimes confusing and intimidating world of chatbots, it can be a challenge even getting started.


Identifying a marketplace need for high-utility, easy-to-deploy bots, Monevation, a Sydney-based startup, helps companies define their conversational strategy and deliver automated conversations at scale through a co-development model.


“The amount of Facebook pages for local businesses is staggering,” said Graham Chee, Co-Founder, of Monevation. “These businesses have a massive opportunity to communicate effectively with their customers on a daily basis, selling products or saving customer service staff time, just by building a custom bot.”


With Monevation, small businesses can launch a  custom bot, by merely by chatting. This frictionless experience allows the business owner to create a fully functioning bot using relevant APIs to add value for customers instantly.

According to Gartner, “By 2022, it will be far more common for a chatbot to be used by the customer support agent while conversing with the customer. Because of this, we expect the interaction proportions of human and artificial agents to be 36% human agent intervention/participation and 85% software (a combination of self-service and software used simultaneously with the human agent engagement). Of that figure, 64% will be completely customer self-service, and an additional 21% will include some level of agent-assisted self-service.”


Monevation has co-developed a variety of simple, easy-to-build chatbots that cater to the most common chatbot use cases for small businesses. Cybil Bot enables a business to help with educating staff, management and directors about cyber security; Sally Bot lets employers and employees provide gain insight and knowledge about superannuation; and Melanie Bot allows consumers to ask money questions about home loans, superannuation and other services.


Graham Chee, explains their approach: “Small business owners don’t have the time to configure, deploy and maintain a chatbot, but could benefit from meeting their customers where they are. Monevation develops and co-develops with our clients allowing them to easily turn ChatBots into their new ‘Front Desk,’ which drives sales, saves resources, and can grow their business overall.”


While three ChatBots are already live, other models that target specific small business verticals are set to be released every month. Future templates include Accounting Bot, which responds to accounting questions; Legal and Regulatory Bot, which assists with fundamental regulatory and legal matters; and Real Estate Bot, which enables insights, education and search for real estate.