Enhancing Homeowner Happiness with STAN AI

‍Client: HOA Accounting Services, a 170+ Community Accounting-Only Management Firm

Challenge:

HOA Accounting Services, specializing exclusively in accounting for 170+ communities, struggled to manage high volumes of homeowner inquiries regarding financial matters such as account balances, payment schedules, and community fees. The company needed an efficient solution to streamline these inquiries, improve response times, and increase homeowner satisfaction, while maintaining a high level of financial accuracy.

Solution:

HOA Accounting Services implemented HANK, their branded version of STAN AI, across their website and owner portal. HANK was designed to handle financial inquiries, reduce response times, and boost homeowner happiness by providing quick, accurate, and engaging responses.

Key Results (August 2024):

• 190 Texts Sent:

HANK facilitated real-time engagement through text, providing instant answers to homeowners’ financial inquiries.

Value: Response times improved by 40%, giving homeowners faster access to the information they needed and increasing overall satisfaction.

• 2,236 Chats Handled:

HANK successfully managed over 2,200 chat interactions, addressing inquiries about payment processes, account balances, and other financial questions.

Value: This automation reduced the accounting team’s workload by 45%, allowing them to focus on more complex issues while maintaining efficient, timely communication.

• 78% CSAT (Customer Satisfaction Rating) 😍:

Homeowners reported a 20% increase in satisfaction, thanks to HANK’s fast, friendly, and accurate responses.

Value: HANK significantly improved the homeowner experience, strengthening trust and ensuring that financial inquiries were handled with care and precision.

Additional Value Insights:

• Faster Financial Resolution:

By automating routine inquiries, HANK helped cut response times by 50%, ensuring that homeowners received quick, relevant answers, leading to happier and more satisfied residents.

• Operational Efficiency Gains:

HANK automated over 60% of inquiries, enabling the accounting team to dedicate their time to high-priority financial matters, which improved internal efficiency and allowed for faster resolutions of complex issues.

• Increased Homeowner Retention and Trust:

Homeowners experienced more reliable and consistent responses, which fostered trust in HOA Accounting Services, contributing to a 15% increase in homeowner retention.

"HANK has completely transformed the way we engage with homeowners. We’ve seen dramatic improvements in both response times and customer satisfaction. The ability to automate routine inquiries while maintaining a personal touch has been a game-changer for our accounting services. STAN AI has been a true partner, listening to our needs and rolling out enhancements as a result. Every month, our team and clients benefit a little more, and I am very excited to see what this means 6 months or a year from now!"
‍
Tawny Bartel, CMCA, AMS, PCAM

Chief Executive Officer, Owner at HOA Accounting Services, Inc.

Conclusion:‍

For HOA Accounting Services, HANK has proven to be an essential tool in streamlining financial inquiries, improving homeowner satisfaction, and increasing operational efficiency. By automating repetitive tasks and delivering fast, accurate responses, HANK has helped the company maintain strong relationships with homeowners and ensure financial transparency.