Single platform delivers a real estate accounting solution for all asset classes.
CARROLLTON, Texas (June 20, 2016) – RealPage, Inc. (NASDAQ:RP), a leading provider of on-demand software and software-enabled services for the multifamily, commercial, single-family and vacation rental housing industries, announced that it launched a new Enterprise Accounting solution, designed to provide companies one single accounting platform with which to manage all functions related to real estate investing. The new platform is applicable to all real estate asset classes.
Enterprise Accounting manages transactions related to accounting for real estate investment vehicles. It was developed to help provide a best-in-class accounting solution for middle market real estate investment companies.
The Enterprise Accounting platform incorporates three distinct solutions:
- Investment Accounting: Designed to help manage all types of capital transactions, automating calling for, collecting, distributing and recording capital activity. It also manages investor correspondence and reporting while tracking investment returns.
- Advanced Consolidations: Consolidates accounting records and manages complex ownership structures of multiple subsidiaries to present consolidated financial statements for multiple sets of books for the parent company. Automated consolidation rules help reduce the closing cycle time.
- Corporate Accounting: Enables real estate firms to simplify the process of allocating expenses and overhead from the corporate entity to investments and properties, and to manage financial reporting for business units not specific to a particular asset or investment vehicle.
This solution was created to address accounting, finance, and reporting challenges often confronted by middle market investment management firms. These firms commonly use spreadsheets and limited human resources to meet minimum requirements because the total cost of ownership of available alternative solutions may be too formidable for a growing mid-market firm.
“This solution fills a void in the real estate investment market,” said Alan James, RealPage senior vice president, investment management and commercial. “RealPage is making significant investments in solutions to manage the investment management lifecycle and is collaborating with leading real estate consulting firms to execute a business strategy designed to deliver the most complete suite of products that have a low total cost of ownership for our customers.”
For more information, visit: www.realpage.com/ea.
RealPage, Inc. is a leading provider of comprehensive property management software solutions for the multifamily, commercial, single-family, and vacation rental housing industries. These solutions help property owners increase efficiency, decrease expenses, enhance the resident experience, and generate more revenue. Using its innovative SaaS platform, RealPage’s on-demand software enables easy system integration and streamlines online property management. Its product line covers the full spectrum of property management, leasing and marketing, asset optimization, and resident services solutions. Founded in 1998 and headquartered in Carrollton, Texas, RealPage currently serves over 11,000 customers worldwide from offices in North America, Europe, and Asia. For more information about the company, visit http://www.realpage.com.