After three days of networking, product demonstrations, and fun, ServiceTitan Co-founder and President Vahe Kuzoyan and Chief Technology Officer Anmol Bhasin headlined the Pantheon 2022 keynote address to deliver their vision for the future of ServiceTitan.
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Before launching into their presentation on the power of harnessing data to optimize business performance, and introducing a major product development, Kuzoyan took a moment to reflect on his family’s story from working in the trades — first as technicians, then as business owners — and how the site of Pantheon 2022 holds a special place in the company’s history.
“Although you may know that ServiceTitan was born in the trades, the reality is the technology was actually born here at USC (University of Southern California), where I was a student,” Kuzoyan says. “As we were graduating college, we realized something was wrong. There was a glitch in the matrix. We’d studied computer science and knew there was all this super-powerful tech out there, but our dads’ businesses were frozen in time, left behind really, with previous generation technology.
“Where was the cloud tech? Where was the mobile tech? Where was the comprehensive end-to-end solution? All our dads had available to them were Windows applications held together with manual processes and shoe boxes full of receipts, left behind by Silicon Valley.”
Read on for more on Kuzoyan’s and Bhasin’s vision for the future and learn about an exciting new feature coming to ServiceTitan’s cloud platform.
“The Numbers Don't Lie. The More You Use ServiceTitan, the More Business Results You Achieve.”
Kuzoyan kicked off his keynote by diving into ServiceTitan customer data, specifically comparing the more than 8,800 ServiceTitan customers versus nonusers. He mentioned how each of the Pantheon attendees received their Titan Score earlier in the morning, and joked how even the contractors on the bottom end of the scale crushed the competition.
“Don't feel bad even though you're in last place in team ServiceTitan, you still not only beat the rest of the industry, but did so by a big margin,” Kuzoyan says.
“Across the board, it's clear Titans are winning,” Kuzoyan says. “And just to be clear, this is mostly utilizing the core service that you're already paying for. What you did last year in the face of uncertainty is remarkable. We want to take a moment to acknowledge the incredible outcomes you achieved.”
Kuzoyan also crunched data on ServiceTitan customers who utilize the platform’s Pro features versus customers who use only the core features.
According to the ServiceTitan data:
Customers who offer financing enjoy 50% higher conversion rates
Customers who use Pricebook Pro grew 12% faster
Customers who use Marketing Pro grew 29% faster
“The numbers don't lie,” Kuzoyan says. “The more you use ServiceTitan, the more business results you achieve. What makes this all even more amazing is all of this happened during a time of COVID supply disruptions, labor shortages, and inflation.
“But as everyone here knows all too well, you can have all the pandemics and economic turmoil you want, but when our communities call upon the trades to serve the most fundamental, non-negotiable human needs, the trades show up.”
Before passing the mic to Bhasin to present the company’s vision for the next decade, Kuzoyan teased out the latest product enhancement coming to ServiceTitan’s end-to-end shop management platform.
“What I'm most excited about is the single most important way in which we're going to help you win — by unlocking the power of your data. Introducing Titan Intelligence, bringing the power of artificial intelligence (AI) to get the most out of your data and ServiceTitan.”
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Artificial Intelligence Fuels Digital Transformation
Bhasin spoke on the ways AI and machine learning are fueling digital transformation for all industries. As ServiceTitan looks toward the future, he says customers can expect some exciting developments combining business performance insights and AI.
“Every business can leverage data and AI, and every business will be affected by this movement that is artificial intelligence,” Bhasin says. “Let's get excited and be prepared for this juggernaut of a data and AI revolution that's upon us. Together with ServiceTitan, we are going to unlock AI superpowers and turbocharge your business.”
What does it mean for the trades?
“When you embrace data and AI, your business improves,” Bhasin adds. “The winners are the companies that leverage data and AI to do two things. One, better serve your customers, and two, run your businesses more efficiently.”
Bhasin says syncing data with AI enables shops to:
Automatically assign technicians to high predicted-value jobs.
Manage resources during a supply chain shortage.
Provide immediate chat bot-driven customer service on your website.
Accurately predict inventory demand.
Set prices dynamically using seasonal trends, local weather, and competition.
Optimize dispatching to maximize expected revenue and utilization while minimizing drive time.
Deliver proactive maintenance using IoT and predictive intelligence.
“This is how you win. See, AI is an unstoppable force, and resisting AI will have our future shaped by it, but those who embrace it will shape the future themselves,” Bhasin says. “ServiceTitan is here again to help you shape your future. And today I am proud to unveil the next frontier of service intelligence.”
Titan Intelligence Leads the Trades into the Future
Bhasin capped off the keynote by delving further into Titan Intelligence, ServiceTitan’s AI-powered solution to help businesses harness their own data to automate repetitive and simple tasks, improve customer experience, predict outcomes, lower costs, and stay competitive in a world run by data.
“Titan Intelligence marries your data with external data and generates insights for your business,” Bhasin says. “Data regarding talent, supply chain, pricing, reviews, GDP, inflation — all the data you care about — then we aggregate it with data from your business. Then we mash it, clean it, churn it, and let the magic begin.”
Current Titan Intelligence features:
Benchmark Report: Available to every ServiceTitan customer, the Benchmark Report shows how their business-performance data stacks up with other similar businesses.
Price Insights: Allows contractors to easily see average pricing for jobs and materials in their region, enabling them to competitively price services based on the average cost for similar services locally.
Features in development:
Smart Dispatch (beta): Uses your data to predict a job’s value and automatically assigns it to the closest technician with the right skills for the job type.
Marketing Pro-Ads (beta): Optimizes and automates digital ad spend to reveal the true ROI of each of your Google Ad campaigns.
“I hope you all see the promise,” Bhasin says. “The promise of data and AI and using them in a laser-focused, business outcome-driven sense. In the times to come, you should see Titan Intelligence continue to roll out functionality, lighting up all parts of your business, like sections of an orchestra.”
ServiceTitan is a comprehensive software solution built specifically to help service companies streamline their operations, boost revenue, and substantially elevate the trajectory of their business. Our comprehensive, cloud-based platform is used by thousands of electrical, HVAC, plumbing, garage door, and chimney sweep shops across the country—and has increased their revenue by an average of 25% in just their first year with us.