Thursday, 27 February 2020 15:17

Freshworks acquires AnsweriQ to enhance AI, machine learning capabilities Featured

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Customer engagement software company, Freshworks has acquired intelligent automation for customer service vendor AnsweriQ in a move it says will enhances its artificial intelligence and machine learning capabilities in the customer engagement space.

Freshworks says AnsweriQ - a provider of machine learning (ML) and artificial technologies (AI) for larger enterprises - complements its AI engine, Freddy, by enabling enterprise organisations to fully leverage their existing customer data to scale self-service experiences and automate complex customer workflows.

Freshworks also says AnsweriQ’s “unique” ML models leverage AI algorithms against millions of customer interactions to generate automated self-service Q&As and improve next-step escalations, and Freddy will incorporate AnsweriQ’s AI to learn from ticket data and agent actions within the Freshworks Customer-for-Life Cloud and improve customer self-service capabilities.

“Freddy will extend its capabilities from a knowledge base dependent AI engine to learn from ticket conversations on the fly. Freddy will be able to anticipate customer needs, make recommendations for agents based on the conversations and perform tasks such as refunds and cancellations with no manual input required—significantly improving customer self-service and freeing up agent time to handle more complex requests,” says Freshworks.

Freshworks also announced that AnsweriQ CEO Pradeep Rathinam has joined the senior executive team as chief customer officer, “aligning the weight of the entire organisation towards successful outcomes for businesses that keep and grow customers for life”.

Freshworks says that in his new role, Rathinam will align the entire organisation to ”make customers powerful advocates for Freshworks by delivering successful business outcomes” - and will oversee the company’s global customer support, onboarding and customer success organisations, “further increasing satisfaction, retention and success of the combined customer base, including AnsweriQ customers 2K Games, Freshly and SeatGeek”.

“Unlike clunky, siloed, legacy SaaS solutions, Freshworks is innovating to deliver a powerful and seamless experience across sales, marketing, customer success and support functions,” said Rathinam.

“With Freshworks’ commitment to deploying enterprise-scale AI to better understand customers and build relationships for life, this acquisition is a natural fit. I’m excited to join Freshworks as their new chief customer officer as we create delightful experiences for enterprises that use our products worldwide.”

Girish Mathrubootham, Freshworks’ founder and CEO said: “The integration of AnsweriQ’s technology enhances our AI/ML capability in the customer engagement space and offers significant value to our customers.”

“Pradeep brings executive-level acumen and expertise, which will be leveraged in his new role as chief customer officer as we double-down on our efforts to engage and keep customers for life.”

The acquisition of AnsweriQ is Freshworks’ second in less than a year and comes on the heels of what the company says is nearly 60% year-over-year growth in billings fuelled by “widespread industry recognition”.

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Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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