Avannis specializes in providing white-glove customer and employee engagement solutions tailored for banks and credit unions of any size, with a commitment to enhancing the banking experience through insightful customer engagement surveys. Avannis manually reviews, categorizes, and classifies over 20,000 customer surveys each month. This labor-intensive process is difficult to train for and can be error prone without consistent and intensive analysis.
Innovative Solutions and Avannis partnered together to develop a novel Generative AI (GenAI) solution aimed at automating the manual coding of customer survey verbatims, a project that promises to optimize Avannis’ operations by significantly reducing manual effort and enabling the company to scale efficiently.
The primary objectives of the Avannis Tailwinds Project include:
- Improving Staff Morale: Automating tedious tasks to allow staff to focus on more engaging and valuable work.
- Creating More Engaging Work Opportunities: Redirecting the workforce towards tasks that offer greater value and satisfaction.
- Saving Money Through Efficiency Improvements: Reducing manual labor costs associated with coding survey responses, thereby saving the company significant amounts of money annually.
The Customer Challenge
Avannis faced the challenge of manually coding thousands of customer engagement surveys each month, a process that was not only time-consuming but also a bottleneck to growth. This manual process required significant staff hours every day, leading to increased operational costs and limiting the company’s ability to scale its services without a corresponding increase in headcount and expenses.
The Partner Solution
Innovative Solutions automated the coding of customer survey verbatims, classifications, and content extraction leveraging a Generative AI solution built on top of Innovative Tailwinds and Amazon Bedrock (Anthropic).
This AI-driven approach is designed to classify verbatims based on thousands of historical Avannis surveys, taxonomy requirements, and other business requirements. Innovative Solutions generated semantically-similar surveys and requirements to train an Anthropic Claude LLM and a Weaviate vector database to return highly accurate classifications.
This process eliminates the need for manual coding of new surveys and also provides Avannis with a methodology to update and fine-tune the process over time for new customers and markets.
What was the Business Impact of the Solution
The implementation of the Tailwinds GenAI solution has led to:
- Annual Savings: Approximately $54,000 saved per year through reduced manual labor.
- Improved Staff Morale: Employees can now focus on more engaging and valuable tasks.
- Scalability: Avannis can scale its operations without proportionally increasing staff or costs.
Avannis’s GenAI solution has the potential to transform the customer experience by enabling faster and more accurate analysis of survey data. This allows Avannis to deliver insights to clients more quickly, enhancing the responsiveness and effectiveness of customer engagement strategies.
Steve Winn, Founding Partner & CTO of Avannis, praised the team at Innovative Solutions for their intelligence, flexibility, and the effectiveness of the solution provided. He noted the significant improvement over past experiences with third-party development teams, emphasizing the success of the project in meeting Avannis’ needs. Steve shared his enthusiasm for the Tailwinds project, highlighting the anticipated benefits in terms of staff morale, productivity, and operational scalability.
“The Innovative Tailwinds Generative AI solution is expected to save Avannis 3,000 working hours per year, translating to $54,000 in annual savings.”
– Steve Winn, Founding Partner & CTO of Avannis
Furthermore, Steve envisions the potential for direct customer access to the API, allowing for even greater efficiency and service customization.
Why you should collaborate with a partner
Generative AI represents a significant step forward for Avannis, enabling the company to:
- Enhance its operational efficiency
- Improve employee satisfaction
- Provide faster, more insightful customer engagement solutions
Avannis’ success story demonstrates the potential for similar technologies to benefit other businesses looking to optimize their operations and customer service offerings.
Want to learn more? Contact us today.