Top 5 Tech-Savvy, Time-Saving Benefits of Management Software
Whether you’re new to management software or you’ve relied on it for years for a smooth-running operation, you may not have taken advantage of everything it has to offer. We’re calling out a few sure bets for saving time and money:
1. Set security levels to reduce costly mistakes and deliver peace of mind
Set your security levels to allow or block access to specific features for users. For example, you can give one user the ability to give refunds, but not new hires if they haven’t been trained yet. Or, allow a certain amount or number of waived late fees by user type. This can help the manager remove themselves from an emotional situation by saying the software will not allow me to waive that fee based on store policy. These software settings are customizable to your business and employee structure. Taking the time to carefully set this permission-based user access now cuts costly mistakes and can also save you time and money.
2. Allow your management software to manage your rent rates leaving you free to focus on your customers
SiteLink Price Optimizer enables revenue management in your software. You make rate decisions once, then let the program manage the rate changes. This means your software makes suggestions for unit and tenant rate adjustments using the business rules you select, like minimum percent occupancy by unit type, days since move-in and rate last changed. SiteLink will alert you when to approve or adjust an increase and when to send rate increase notices. You have the final say on your tenants’ rates; revenue management simply helps you capture growth opportunities.
3. Customer Relationship Management (CRM)—your go-to multi-purpose tool
Customer Relationship Management provides an automated way to respond to or proactively communicate with customers and prospects. It’s not just about customer retention, although that has shown to be worthwhile. SiteLink has over a dozen trigger events built-in to activate a CRM process that you configure. It’s also is a powerful lead management tool, allowing for automatic follow-up reminders for managers and notices for prospective customers. For example, send an email with a discount code to anyone who inquired two or more months ago, but never rented, or a send a special offer to past tenants to rent again or refer a friend. This turns more leads into rentals and lets you capitalize on more opportunities to promote your business to current, potential and past customers and their friends.
4. Management software can complete a rental—from inquiry to reservation to eSigned lease—before you’ve had your morning coffee
With your management software ready for business 24/7, your rentals will increase. Online move-ins from a website or over the phone, complete with electronically signed lease, is a crucial offering for customers who like to do everything electronically, or after business hours. Tenants can sign electronic leases on any browser, including tablets and smartphones. Many operators still require a new tenant to come in during business hours to present a driver's license to be scanned and added to their tenant record for verification. Some operators who opt for a more unmanned solution can have gate codes automatically emailed to new tenant upon completion of electronic lease and online payment. Either way you can increase rentals and save money on paper and document storage.
5. Use text messaging integration to streamline collections and stay on top of past-due balances
Due to the increase in mobile use, it’s a safe bet to capitalize on this strategy. There’s no better way to improve collections: scheduled, 2-way text messaging and/or robo calls can have a huge impact on your revenue by saving time and reducing errors. Set thresholds and then let your management software monitor the status of all tenants. A text message—complete with payment link—is automatically generated when that threshold is reached. Tenants instantly receive the text and then settle up without having to stop by the office. Used in conjunction with the CRM feature, store managers can use that time normally spent chasing money on renting units and facility upkeep.
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