Riding the Bot-Building Wave with SnatchBot
Riding the Bot-Building Wave with SnatchBot
SnatchBot Team, 05/10/2017

The bot industry is evolving. Last year, 2016, saw bots as one of the hot mobile trends for enterprises, with companies like Microsoft and Facebook leading the charge toward bot technology. As the space evolves, more and more companies are filling the competitive landscape, from bootstrapped start-ups to well-funded tech giants.In 2016, SnatchBot emerged from beta to launch our bot-building platform, which provides enterprises and developers alike with the processes and tools they need not only to create and deploy their own bots, but also to track and monitor across the entire bot lifecycle.

We’re proud to say that we’re among the first pure-play vendors in the bot industry. Privately-owned and privately-funded,SnatchBot is acting quickly to stake our claim in chatbot territory. We’ve worked diligently to make our platform simple and user-friendly, with little to no coding required to get your bot up and running in no time. The use cases we’re seeing emerge from our platform are a solid indication that SnatchBot is an attractive and viable tool for any enterprise, large or small, established or start-up.

 

About SnatchBot

Compared to other industry leaders, SnatchBot is still young, but our user base is very promising and we expect to gain significant market traction over 2017. Our aim is to help enterprises solve business solutions, primarily CRM (customer relations management), by giving them the framework and integration they need to develop bots with speed and efficiency.

SnatchBot began in 2015 in Israel, where it is headquartered today. We believe that chatbots are the future, and recent market trends indicate the same. Moreover, we believe in the power of bots to bolster a connection between an enterprise and their consumer base by creating real relationships, rather than the traditional one-way branding of yesteryear.

We’ve already developed a number of bots for leading brands in finance, healthcare, retail, and others, and through our understanding of potential use cases and market requirements we are able to expand our user base and offer revolutionary technology that blends machine-learning innovation with conversational design.

The tools and built-in integrations offered by the SnatchBot platform span the entire development cycle of a bot, from design and testing to hosting, cross-platform publishing, and monitoring, both historically and in real time. We support a number of channels, including the most popular messaging platforms like Kik, Facebook Messenger, Slack, and Twitter, to name just a few.

SnatchBot’s key features

  • SnatchBot offers scalable, turnkey hosting, cloud-based coding, and data storage.

  • Our bot creation can adapt to a wide range of use cases and flexible workflows.

  • We provide web-based front-end development with testing, debugging, and mock-chat features.

  • SnatchBot’s built-in integration tools include common natural language processing (NLP) services such as LUIS.ai and Wit.ai.

 

We believe that our competitive edge stems from the balance our platform offers; SnatchBot provides a potent, capable set of features for complex use cases, while at the same time making it easy for anyone to get started without needing a knowledge of advanced code. These capabilities are most evident in the prebuilt templates that we’ve launched with our “no coding required” approach, as well as the use cases for IVR (interactive voice response) customer service applications.

Our initial client base leans more toward the B2B (business-to-business) applications, though SnatchBot also supports B2E (business-to-employee) and B2C (business-to-consumer) applications. Our user base is ever expanding, including not only start-ups and organizations seeking to automate service efforts, but also established brands and organizations like Interactive FXTataComputers Limited, and NEOPOST, to name a few.

 

Competition in the bot industry

The bot industry is one that is still evolving, and the competition is commensurate with that. 2016 saw a great many start-ups with aspirations of providing bot-building platforms, but many are still in beta or never fully emerged.

That being said, SnatchBot’s primary competitors include not only other bot-building enterprises, but also some well-established ventures seeking to capitalize on bots and NLP technology. However, we’re confident that with SnatchBot’s ease of use and front-end development capabilities, we’ll continue to gain traction and expand our user base even further.

SWOT Analysis

Every new venture needs to understand both its potential and limitations, and here at SnatchBot we’re transparent about our goals, our aspirations, and our competition. Therefore, we’ve included our own SWOT analysis, an internal study to identify our organization’s strengths, weaknesses, opportunities, and threats.

  • Strengths: The SnatchBot  platform has demonstrated viability and accessibility based on deployment of relevant use cases and its own bot-building experience. Although the company is still at an early stage, its ease of access and use is a key asset.

  • Weaknesses: Still being fairly new to the market, SnatchBot could be at a disadvantage against competitors who have been long established, as well as those enterprises that focus their development efforts on a commercialized platform.

  • Opportunities: The primary use cases for SnatchBot are based on customer service and consumer engagement, the market momentum of which has been recently created by tech giants like Microsoft, Facebook, and Google, which makes SnatchBot a natural fit for like-minded bot creation.

  • Threats: The bot industry is fairly young, and competition is fierce as new enterprises continue to emerge, particularly among the use cases that SnatchBot targets. Existing companies that want to gain bot territory, such as Microsoft, can leverage their market presence and networks with key assets, like Skype.