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November 2, 2018
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Tiffany Houkom

How to Bring Digital Optimization to Your Property Management Company

We’ve been covering the importance of change management, and the steps you can take to help employees embrace significant changes, rather than fear and reject them. While it takes planning, preparation, and constant check-ins, creating a thought-out strategy for implementing changes throughout your organization is what will enable these changes to stick and succeed.

For property management companies, many of the significant changes you’ll face in the near future will be technology related. In order for businesses to succeed in today’s world, they need to be open to implementing and embracing technology, rather than sticking with the mindset of “this is how we’ve always done things.” You must start asking yourself:

  • How can technology make your team more efficient?
  • How can technology bring in more revenue?
  • How can technology provide a better resident experience?

Digital business optimization is the process of using digital tools to significantly improve operations that will increase productivity, bolster generation of existing revenue streams, and significantly improve customer service. For inspiration, look at how busy restaurants like Shake Shack have embraced digital optimization. Shake Shack launched a mobile app allowing customers to order food via their smartphone with the goal of reducing long wait times. While this app did not completely change their business or its offerings, it’s made improvements to both productivity and customer experience.

Start thinking about how existing technology can do the same for your property management company. Do your Portfolio Managers spend far too much time answering resident phone calls? Is there a technology that can help reduce the number of phone calls they receive? What about dues and fees payments? We constantly talk about how paper checks are costing your team far too much time and money each month. If you’re ready to digitally optimize your business, FRONTSTEPS might be just the tool you’re looking for. Here are three ways it can optimize your business.

Reduce Phone Calls

Portfolio Managers are bombarded by resident phone calls every day, which causes a constant interruption to their workflow and making it difficult for them to focus on projects outside of providing excellent customer service. Think about all of the calls they might receive on a daily basis:

  • Maintenance requests
  • Architectural change requests
  • Amenity reservations
  • Reports of suspicious characters in the neighborhood

FRONTSTEPS digitalizes these requests, enabling residents to make these requests through the platform, rather than picking up the phone. This reduces phone calls, ensures requests don’t fall through the cracks, and increases productivity.

Reduce Manual Work

Traditionally, Portfolio Managers are required to do a significant amount of manual work. From inputting the exact same information into multiple tools, to manually tracking requests and work orders, to using outdated technology like Excel and pen and paper, this is time consuming, unfulfilling, and prevents them from doing more valuable work.

FRONTSTEPS offers a unified directory, allowing key information to flow back and forth between accounting tools, our visitor management and credentialed access solution Secure, and move in and move outs. That means your team will spend less time inputting duplicate information into multiple tools and tracking things on their own.

Reduce Check Processing Fees

Paper checks are an outdated form of payment that is costing your company time and money each month. Banks charge processing fees for each check received, and your team is left with the huge task of manually reconciling checks that are missing coupons.

There’s a better way to accept payments. FRONTSTPES offers in-app dues and fees payments, allowing residents to make digital payments with the click of a button or tap of a finger if using a smartphone. By taking digital payments, you’ll get paid on-time, every time, you’ll bypass processing fees on each payment, and you’ll never have to spend hours reconciling payments.

Those are just three ways FRONTSTEPS can optimize your business processes. When fully utilized, FRONTSTEPS can completely transform the way your company does business, which will lead you to:

  • Save time and money
  • Grow your portfolio
  • Provide more fulfilling career for your team
  • Offer a better overall experience for your residents

Interested in learning more about how FRONTSTEPS can help your company optimize its overall strategy? Schedule your demo today!

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