Ordermentum is dedicated to helping suppliers and venues trade more intelligently. As part of this mission, we are leveraging AI technology to provide actionable insights to our customers, empowering them to make more informed decisions.
This guide provides an overview of the AI-powered insights currently available and explains how each one can assist in optimising your business operations.
Table of Contents
Important Considerations
Beta Feature: This AI-powered feature is still in beta and subject to ongoing development. Feedback from early users is essential to refine and improve its functionality.
Human Oversight Required: While AI provides valuable insights, it should complement, not replace, human judgment. Always review AI-generated data within the broader context of your business knowledge and experience.
Data Sensitivity: AI functions are only as good as the data they analyse. Ensure your data is accurate and up-to-date to receive the most reliable insights.
Credit Rating
Overview
The Credit Rating insight is designed to help you manage the risk of bad debts by assessing the creditworthiness of your customers. In an increasingly unpredictable market, understanding the financial reliability of your customers is crucial for maintaining a healthy cash flow.
How It Works
This AI-powered rating evaluates various factors, including:
Payment History: Analyses the customer’s past payment behaviour.
Business Financial History: Considers the financial stability of the customer’s business.
User Behaviours: Observes patterns in how the customer interacts with your business.
By assessing these elements, the credit rating predicts the likelihood that a customer will continue to pay on time, helping you identify potential risks and take proactive measures.
Benefits
Risk Mitigation: Helps protect your business from potential bad debts.
Informed Decision-Making: Provides data-driven insights to guide your credit and collections strategies.
Customer Segmentation: Allows you to categorize customers based on their creditworthiness.
Pricing Analysis
Overview
Pricing is a critical component of your business strategy, and getting it right can reduce churn, optimize revenue, and improve customer satisfaction. The Pricing Analysis insight is designed to help you evaluate whether your pricing is competitive and appropriate for each customer.
How It Works
This AI-driven analysis considers:
Purchase Volume: Reviews how much your customers are buying from you.
Customer Similarity: Compares your customers with others in similar segments.
Using these factors, the analysis suggests whether your pricing is well-matched, over-priced, or under-priced for each customer. While AI provides a data-backed perspective, it should be used in conjunction with your team’s expertise to make the best pricing decisions.
Benefits
Revenue Optimisation: Helps you adjust pricing to maximise profits while retaining customers.
Enhanced Customer Relationships: Supports your staff in navigating difficult pricing discussions with accurate, data-backed insights.
Market Competitiveness: Ensures your pricing remains competitive in a dynamic market.
How to Get Involved
If you’re interested in being part of the beta program and gaining early access to these AI-powered insights, please reach out to our product team at product@ordermentum.com. Your participation will help shape the future of this feature and provide valuable feedback for its development.
Contact Support
For any questions or assistance with the AI-powered customer insights feature, please contact our support team.