SANTA BARBARA, CALIF., Dec. 28, 2009 – Yardi Systems announced today that multifamily real estate management company Epoch Management, Inc., has purchased Yardi CHECKscan™, which integrates with Epoch’s Yardi Voyager™ property management and accounting system to sharply reduce the time and labor Epoch spends processing rent payments.
CHECKscan scans paper checks and money orders into Yardi Voyager, transforms them into electronic images, and presents a color-coded online review on a dashboard. Upon approval the funds are auto-transferred to Epoch’s bank, and the payments are automatically matched to the resident ledger.
“One of CHECKscan’s principal appeals for us is the ability to direct-deposit rent checks, reducing by several days the time we spend every month on manual check processing and saving us three or four monthly trips to the bank,” said Tricia Relvini, Epoch’s vice president of Finance. “The immediate funds transfer improves our cash flow, and the check images are permanently retained in Voyager. Automatically applying the deposits to our bank reconciliation in Voyager makes reconciling our accounts much easier and more efficient, with minimal keypunching and fewer opportunities for error.”
Epoch also elected to take advantage of Yardi’s Application Service Provider hosting. Yardi hosts the application and database, provides technical support and networking resources, and assumes responsibility for system security, allowing Epoch to focus on its principal business.
“Epoch is an example of a company reaping new benefits by leveraging Yardi’s ability to accommodate new products that meet evolving business requirements. CHECKscan’s integration with Voyager retains the core system’s data integrity, workflow, and automation while enabling an automated, efficient rent-collection process,” said Terri Dowen, Yardi senior vice president of Sales.
About Epoch Management, Inc.
Over its 36-year history, Epoch, headquartered in Winter Park, Fla., has managed more than 70,000 multifamily units in more than 100 cities in 16 states. The company’s regional managers have an average of 16 years of experience. Epoch’s current portfolio consists of 8,500 units in 29 properties in Florida, North Carolina and Texas. For more information, visit www.epochmanagement.com.
Yardi Systems has been committed to the design, development, and support of real estate investment management and property management software for more than 28 years. Recognized as an industry leader, Yardi continues to develop and deliver software and services with the highest dedication to responsiveness, quality, innovation, and customer focus. Yardi Systems has offices throughout Asia, Australia, Europe and North America. More information about Yardi products and services may be found by visiting www.yardi.com.
Trade Media Contact: Joel Nelson 805.699-2040, ext. 1255