OpsTechnology™ Marks 10th Anniversary as Multifamily’s Leading Spend Management Solution

PRLog (Press Release) - Nov 04, 2009 -
CARROLLTON, Texas - OpsTechnology™, the only on-demand solution that fully integrates with all leading property management software and accounting solutions, is celebrating its tenth anniversary at the forefront of expense management in the multifamily industry. Originating as an eProcurement solution, OpsTechnology has grown to become the industry standard for expense management in multifamily.

“When we started the company in 1999, our goal was to provide property management companies with applications to control expenses related to the management, maintenance, and operations of their properties,” said Sukhi Singh, president and co-founder of OpsTechnology, whose background includes managing a portfolio of properties in Texas. “We wanted to increase visibility, knowledge and control around the procurement, approvals budgets and invoice processing functions in order to deliver operational efficiency and cost savings. The rapid evolution of the product and the tremendous growth of our customer base are indicative of the real value that the solution delivers to the bottom line.”

“OpsTechnology has exceeded our expectations,” said Michael Manelis, senior vice president property operations, Equity Residential, which has used the solution for four years. “Not only with the adoption rate in our organization, but also in our ability to measure savings and negotiate harder with vendors based on the information we see coming out of the application. It's really been a powerful tool for us and has become a proactive spend management solution.”

Through its integrated online community, OpsTechnology has partnered with more than 900 regional and national suppliers to process millions of orders across thousands of goods and services every year.

“OpsTechnology is clearly among the best established applications for online purchasing in multifamily property management,” said Robin Soehl, vice president marketing and business development, HD Supply Facilities Maintenance. “We have seen a marked increase in compliance with our customers on the Ops system, and the payment cycle is shorter due to electronic invoicing. We look forward to working with Ops over the next 10 years as it continues to bring innovation to the multifamily industry.”

OpsTechnology Fast Facts and Milestones:

OpsTechnology is the only on-demand solution in the industry that fully integrates with all leading property management software and accounting solutions.

More than $2 billion in online transactions have been processed through the system.

OpsTechnology is used by owner managers, fee managers, and 8 of the top 10 REITs, with more than 10,000 users across the U.S.

The integrated supplier community is the largest in the industry with more than 900 regional and national product and service companies, including the industry's largest providers, such as: HD Supply Facilities Maintenance, GE Appliances, Whirlpool, Staples, and Wilmar.

OpsInvoice launched in 2004, and was the first multifamily-specific invoice management solution that allowed customers to achieve a fully paperless purchasing and payables process.

In 2009, the company launched the OpsAdvantage Member Savings Program, which is built on the OpsTechnology spend management solution, and incorporates world-class purchasing services that are shared across all members. The “purchasing program in a box” is particularly suited for mid-market portfolios because it allows them to capture a similar level of purchase savings that larger portfolios derive through large, in-house purchasing programs.

Today, OpsTechnology is the industry's leading on demand solution that manages all onsite purchases and invoices, and includes a portfolio-wide, budget-based workflow in a single, integrated solution specifically for property management.

To find out more about the OpsTechnology spend management system or the OpsAdvantage Member Savings program, visit www.opstechnology.com or www. opsadvantage.com or call 415-222-6996. To schedule an interview with an OpsTechnology executive, please contact Karen Dodge at karen.dodge@realpage.com or 972-820-3718.

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About OpsTechnology
OpsTechnology is the multifamily property management industry's leading on demand spend management system that fully integrates purchasing, payables, and eProcurement into all property management and accounting solutions. It includes unlimited access to the OpsTechnology Community, which connects more than 900 national and regional suppliers with apartment communities to transact business online. OpsTechnology manages spend for assets valued in excess of $100 billion and serves 8 of the top 10 REITs in the United States. It is a wholly-owned subsidiary of RealPage. For more information, call 415-222-6996 or visit www.opstechnology.com.

About RealPage
Located in Carrollton, Texas, a suburb of Dallas, RealPage provides Software-as-a-Service products and services to more than 30,000 apartment communities across the United States. Its six on-demand product lines include OneSite® property management systems that automate the leasing, renting, management, and accounting of conventional, affordable, tax credit, student housing, military, and senior living properties; CrossFire® sales and marketing systems that boost occupancy and build retention; YieldStar® asset optimization systems that maximize asset valuation and investment return; Velocity™ utility management systems that accelerate payments for resident charges; LeasingDesk® risk mitigation systems that reduce a community's exposure to risk and liability; and OpsTechnology™ spend management systems that help owners manage and reduce operating expenses. In addition, RealPage now offers Infrastructure-as-a-Service to multifamily owners and operators to help reduce IT costs and dramatically improve integration performance and reliability. For more information, call 1-87-REALPAGE or visit www.realpage.com.