MyGate is a security and community management application that helps residents and management of gated communities. It has a plethora of features that make the life of the residents as well as the managing committee hassle-free. The housing society residents use the MyGate application to manage visitors, delivery executives, and staff; raise complaints; pay maintenance bills; and many more.
The features of the MyGate application is around two primary areas – Security Management and Community Management. A new area is added which is Covid Management.
MyGate is currently in the early growth stage of the product life cycle. As per the data of FY 19-20 the company grew 4X in revenue. Have acquired 15000+ housing societies across 20+ cities.
MyGate has already started facing the heat of the competition from two new entrants – Nobrokerhood and JioGate. Nobrokerhood is converting the customers of MyGate by providing lucrative offers for free for 5 years.
At this stage, MyGate needs to implement a marketing strategy to build strong brand loyalty and compete with new entrants who are going aggressive to eat up the market share. MyGate needs to provide some counter offers to retain the big customers and work towards delivering values to the customers.
MyGate needs to keep innovating and adding new features to deliver value that can beat the competition.
Recommendations to enhance Product Value
Here are a few recommendations that can help MyGate to stay ahead of the competition.
- School Bus pickup drop entry – The app should help to capture the time of school bus pick up and drop off for kids at the main gate. This would add additional safety for the child and peace of mind for the parents.
- Tenant Management and Payment of Rent – The owners giving their flats on rent should be able to track and manage the lease period Agreement and track the rent payment schedule. The tenant should be able to pay the rent through the app. The records of Leave and License Agreement and Police Verification can also be maintained at one single location. Both the tenant and owner should get the reminder for renewal.
- Integration with Utility Companies (Electricity, Piped Gas) – It should enable integration with the major utility service providers in the area they operate so that the users can track and pay the bills from the MyGate app.
- Gate-Pass for taking away items – The residents should be able to generate a gate-pass if they give away some household items to the domestic helps or staffs. The security will only allow to take any material out if they have the issued gate-pass
- Buy, Rent, Sale – The owners should be able to post an advertisement for buy, rent and sale and display it in the app. It should also allow the users to choose to make it public for other users outside the society.
For Management Committee
- Banking Integration – The application should allow integration with the banks to get the feeds of the banking transactions and then tag the same with the income and expenditures. This will help the management or accountant to easily reconcile the transactions.
- Integrate with Online Meeting – Due to pandemic mostly all meetings are now conducted virtually. MyGate should be able to integrate with any virtual meeting platform and the admin can schedule meetings and send meeting links directly to the intended audience (committee member or first owners). The attendance can be tracked from the system.
- Create MOM which Speech-to-text – One of the biggest pain points of office bearers of a society is to document the minutes of meetings. MyGate should provide an option to record the meeting minutes by using speech to text.
- Asset Maintenance Due Date Alert – The various appliances like lift, generator, fire safety, motor, Gym Equipments etc required maintenance at regular intervals. MyGate should allow tracking and send an alert to the facility manager/office bearer when a due date is approaching. The residents can also see when each of the appliances was serviced last including cleaning of tanks.
- Tracker for Promotion – Society as a source of revenue allows promotions with the society with some charges. MyGate should be able to track those activities, durations and the payments received. It should also allow displaying those advertisements in the App for a certain period as per the agreement
- Integration with CCTV provider – MyGate should also provide an AI-based solution to monitor the video feeds and raise alert for any unusual movement or incidents.
- Asset and Inventories – The admin should be able to generate printable asset tags and digitally maintain the asset inventory with the locations.
- Document Management – The application should provide central storage space for all types of documents in digital form. It could be property documents, building drawing and approval, certificate of incorporation and completion. The documents can be tagged as public or private as appropriate by the management committee.
- Broker Management – Many housing society residents use the services of real estate brokers for renting or selling their property within the society premises. Only the registered broker should be allowed to enter and the trigger of exit and entry should be recorded and an alert sent to the owner.
MyGate is the fastest-growing application for residents and the management of gated community in major cities across India. Currently, it supports 15,000 + gated communities in India and validated 2 million check-in requests every day at thousands of gated premises across the 20+ cities. It has simplified everyday living for your housing society with the most advanced security and community management app. The company needs to constantly innovate and provide more value to the customers especially the management committee members to stay ahead of the competition.