As the managing director of Bozzuto Management Company, I oversee operations for multi-family management. I have been witnessing various technological trends creating an impact in the PropTech space, the most prominent of which is smart home technology, which today has gone beyond“Alexa, turn on the lights.” Subsequently, the PropTech space has to consider the different elements associated with this trend such as infrastructure and devices. We have a pilot with IoTus group that provides a smart apartment platform on which users can control temperature, lights, and other such equipment in a smart home setting.
Another trend we are witnessing is the change in consumer communication and interaction patterns.All of our customers rely heavily on their mobile devices, and they want every feature on them—from scheduling to service requests—which can be configured on their devices. Recognizing the need, we have invested a tremendous amount in software that can fulfill this. We have recently extended our focus on enhancing the customer journey by investing in an ideal CRM system. This ensures that right from a consumer's initial visit to our website, to their interaction with it, the system can assist the associates in guiding the process (customer experience and journey) seamlessly while better understanding our customers.
Data is the New Fuel
As we improve the customer journey, it is essential that we streamline the data collection process as well. We need to maximize the performance of the assets; wherein, it is very important to comprehend how the assets are leveraged. As an organization, we manage data for various entities and so the data that we collect is scattered.