(April 1, 2009)— OpsTechnology, the multifamily industry’s leading provider of on-demand spend management systems, today announced that California-based Sequoia Equities, Inc., has licensed its suite of purchasing, payables, and procurement solutions. OpsTechnology was acquired by RealPage in October of last year.
“We are very excited about the enthusiasm we have received from existing RealPage customers since the merger,” said Sukhi Singh, the co-founder and president of OpsTechnology. “The ability for new RealPage customers and existing OpsTechnology customers to leverage the investment that the company made in OpsTechnology is particularly advantageous in light of today’s economy.”
Sequoia will license the OpsTechnology platform to lower costs and increase efficiencies and transparency of expenses across its full portfolio, which represents 38 sites and $1.6 billion in assets.
“OpsTechnology will be a critical component to our overall spend management strategy,” said
Myra Teufel, information technology director for Sequoia. “OpsTechnology is a proven solution within the multifamily industry that will allow us to leverage our annual spend with our preferred suppliers, gain significant cost savings and efficiencies through the elimination of paper, and centralize our purchasing and payables processes. And equally important, these efficiencies will allow our site managers to focus on providing service to our more than 20,000 residents and to work with leasing prospects.”
Sequoia is another example of how property management firms of all sizes are adopting on-demand spend management solutions to achieve savings and automate the manual processes surrounding invoice management and procurement to meet today’s economic challenges head-on. Now more than ever, operating expense controls and efficiencies are critical to property operations; from increasing compliance, to purchasing contracts, to eliminating the paper associated with invoices.
To schedule an interview with a RealPage executive, please contact Karen Dodge at firstname.lastname@example.org or (972) 820-3718.
Located in Carrollton, Texas, a suburb of Dallas, RealPage provides products and services to more than 20,000 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, and military 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. For more information, call 1-87-REALPAGE or visit www.realpage.com.
About Sequoia Equities
Established in 1973, Sequoia Equities has remained committed to its mission of creating quality living experiences that positively affect our residents, team members and investors. With a portfolio of more than 8,000 apartment homes and assets valued at over $1.6 billion, Sequoia is one of the largest privately held real estate investment firms in California. The company’s substantial success is a direct result of employing sound business practices and maintaining its outstanding reputation for delivering results with integrity. www.experiencesequoia.com.