Some view technology as cold. They think it’s a way to widen the chasm between humans. Entrata doesn’t see it that way. In fact, when leveraged effectively, technology can enhance the human connection by better acquainting businesses with their customers and their associates.
That was among the primary messages at the 2019 Entrata Summit in Park City, Utah, where chief operating officer Chase Harrington and chief executive officer Dave Bateman kicked off each morning with an executive keynote.
“What makes Entrata different is that every time we develop a new technology, we do so with people in mind,” Harrington said.
The conference, which featured 400 attendees representing about 110 property management companies, included several educational sessions, learning zones and keynote speakers. The executive team shared several data points—Entrata assisted with 558,830 move-ins and 87,196 support calls over the past year—and pertinent product updates. It was also revealed that Entrata recently became the first platform to integrate with Facebook Marketplace.
“We have 43 new products, and it’s sometimes frustrating how quickly software develops,” Bateman said. “But the unrelenting path of innovation has helped us mature into the premier software provider for the multifamily industry.”
Entrata’s continued focus on AI-related features such as chatbots was among the key topics among the product updates. The company began partnering with IBM Watson last year to develop its ProspectPortal Chatbot tool, which has been particularly timely considering chatbots have become increasingly more prevalent in the leasing world. Among prospects, 27 percent find that communities with AI are more attractive to live at, 62 percent trust a chatbot to schedule a tour and 36 percent trust it to schedule a service request.
AI’s emergence has allowed Entrata’s Chatbot tool to become more sophisticated with regard to natural language analysis, enabling it to provide increasingly detailed answers to real-time questions. Another Messsage Center feature gaining traction is two-way SMS, which allows two-way conversations with Entrata’s support teams.
The executive team shared several additional product updates, include a language translation tool, upgrades to Report Framework 3.0 and LobbyDisplay and a forthcoming Q1 2020 update to AgentAccess.
“This will be a huge game-changer for your budget,” said Virginia Love, industry principal to advance growth and innovation strategies for Entrata. “It will allow your team to do what it does best – secure leases, take care of residents and drive income.”
In addition, Entrata announced that a beta trial is soon to come for a Leasing Intelligence Dashboard update. The tool is designed to increase leasing velocity by providing key insights about projected rent, occupancy, new leads and conversion rates.
“The Leasing Intelligence Dashboard will provide a variety insights in a quick and streamlined way,” said Trevor Riley, senior vice president of product for Entrata. “The data generated will help answer specific leasing-related questions, such as whether you’re denying too many applicants and whether it’d make a positive impact to drop your credit threshold by 10 points.”
Among several additional updates, the company introduced Design Studio, a new service that offers companies a hands-on, interactive design session with a team of Entrata experts to create a truly unique marketing experience.
“We want to be on the bleeding edge of innovation and provide the best technology and tools to make your business succeed,” Harrington said. “Leveraging automation technologies to enhance the human experience is where multifamily can win.”