Yardi Voyager™ and Yardi Procure to Pay™ as the platform for its residential and commercial property management, accounting and building supplies procurement.">

Colonial Properties Trust Combines Property Management, Purchasing with Yardi Voyager and Yardi Procure to Pay

Share

Alabama-based REIT anticipates new efficiency from single-platform solution.

SANTA BARBARA, CALIF., Nov. 14, 2011 – Yardi announced today that Colonial Properties Trust will adopt Yardi Voyager™ and Yardi Procure to Pay™ as the platform for its residential and commercial property management, accounting and building supplies procurement.

Colonial Properties Trust recently concluded that performing property management, accounting and building materials procurement through separate databases was redundant and time-consuming. The company sought a platform that could drive numerous operational improvements, such as more efficient integration of the lease flow from prospects to leases, easier reporting, and integrated procurement and invoice processing. After evaluating platforms capable of accommodating large commercial and residential portfolios, the company chose Yardi Voyager.

“In researching options diligently, we found that the Yardi Voyager platform represented the best solution for improving the efficiency of our accounting, property management and procurement processes through Voyager’s single-database approach,” said John Rigrish, chief administrative officer for Colonial Properties Trust.

Seeking similar efficiency in its building supply procurement process, Colonial Properties Trust also adopted Yardi Procure to Pay. This solution integrates online supply catalogs from SiteStuff™ with Yardi PAYscan™, which will convert paper invoices into electronic transactions in Colonial Properties Trust’s Yardi Voyager system. Online approval routing is automated and accounting data is updated in real time.

“Performing accounting, property management and procurement in one easily accessible database was very attractive to us. The real-time data should enable us to provide a better overall picture of performance to our internal customers as well as increase our service level to our residents and tenants,” said Ray Thornton, vice president of information technology for Colonial Properties Trust.

“Yardi is pleased that one of the most prominent REITs in the U.S. will benefit from the full-business capabilities that Yardi Voyager provides,” said Terri Dowen, senior vice president of sales for Yardi.

About Colonial Properties Trust

Colonial Properties Trust is a real estate investment trust (REIT) that creates value for its shareholders through a multifamily focused portfolio and the management and development of select commercial assets in the Sunbelt region of the United States. As of Sept. 30, 2011, the company owned or managed 34,369 apartment units and 13.3 million square feet of commercial space. Headquartered in Birmingham, Ala., Colonial Properties Trust is listed on the New York Stock Exchange under the symbol CLP and is included in the S&P SmallCap 600 Index. For more information, please visit the company’s website at www.colonialprop.com.

About Yardi

Yardi Systems has been committed to the design, development and support of real estate investment management and property management software for nearly 30 years. With its Yardi Multifamily Suite™, Yardi Commercial Suite™ and Yardi Investment Suite™, the Yardi Voyager™ system is the most comprehensive single real estate management platform on the market today. Yardi serves clients around the world from offices in Asia, Australia, Europe and North America. More information about Yardi products and services is available at www.yardi.com.

To view a Yardi Voyager client testimonial, visit
http://www.youtube.com/watch?v=rvrezX4Ly0M

To view a Yardi Procure to Pay client testimonial, visit
http://www.youtube.com/watch?v=WjW8jkhNz78

Trade Media Contact: Joel Nelson 805.699-2040, ext. 1255