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Company News
Press Releases
OpsTechnology Announces Two New Customers
-- Dunlap & Magee and Sherman Residential
to use OpsBuyer™ --
San Francisco, California - September 2, 2004 — OpsTechnology, a developer of Web-based systems
that enable real estate operating companies to decrease costs and increase NOI, today announced that two companies, Dunlap & Magee and Sherman Residential, have licensed the company's OpsBuyer product to centralize their data, standardize workflow processes, and increase purchasing compliance. Dunlap & Magee, founded in 1985, manages dozens of residential communities throughout Arizona. Sherman Residential, a division of Chicago-based Benj. E. Sherman & Sons, owns 25 apartment complexes in five states in the south and southwest.
Sukhi Singh, Founder and SVP of Business Development of OpsTechnology, said, "We are happy to welcome Dunlap & Magee and Sherman Residential to our growing list of customers that are using OpsBuyer to streamline and standardize their operations. In today's economy every dollar counts, and regional property management companies are looking for ways to improve their business processes and increase their net operating income. OpsBuyer provides an excellent way for companies in the multifamily industry to optimize their purchasing, procurement and payables processes to realize immediate savings."
Both new customers, Sherman Residential and Dunlap & Magee, will use OpsBuyer to manage their purchase order, invoice and budget control functions. OpsTechnology will provide the ability to manage and host the online catalogs of their suppliers, contract pricing, and integrations between existing order processing, inventory and invoicing systems, as well as the customers' specific accounting systems. OpsBuyer is the real estate industry's only comprehensive onsite payables, purchasing and procurement application with full budget-based controls, automated approval routing, full detailed reporting and access to a complete network of online vendors. OpsBuyer provides customers with the ability to centralize their data, standardize workflow processes, reduce administrative costs and increase purchasing compliance to achieve significant, sustainable cost savings.
OpsTechnology was founded in 1999 by real estate and software industry experts to improve efficiencies, reduce costs and save money for real estate companies by improving their ability to manage the relationships between property personnel and their suppliers. The company's customers include Real Estate Investment Trusts (REITs), product and service suppliers, and property management companies.
About OpsTechnology
OpsTechnology develops software that saves money for real estate operating companies by improving their ability to manage and standardize Procurement, Purchasing and Payables functions. Founded in 1999 by real estate and technology industry experts, the company is backed by real estate operating companies and VC firms including SAP Ventures, Vortex Partners, Cohen & Steers, Equity Residential, and Camden Property Trust. For more information, visit www.opstechnology.com.
About Dunlap & Magee
Dunlap & Magee, established in 1985 and located in Phoenix, Arizona, is a real estate property management firm. The company's primary focus is the management of multifamily properties, both conventional and affordable. The company is well recognized for its commitment to manage both conventional and affordable apartment properties with high standards of quality management and customer service. Dunlap & Magee has been an Accredited Management Organization designated by the Institute of Real Estate Management since inception. Only those firms with impressive credentials in the areas of experience, education, and ethical conduct qualify for this sought-after designation.
About Sherman Residential
In the over 80 years that Benj. E. Sherman & Sons has been in business, the firm has established a reputation for honesty, integrity and knowledge of real estate that continues to benefit its clients and associates. The company's solid history of achievement, forward thinking and talent for identifying potential new markets has made Benj. E. Sherman & Sons not only one of Chicago's oldest, but also one of Chicago's premier real estate firms. The firm has expanded from its home city and currently employs more than 200 people in five states. Sherman Residential, the firm's largest division, was formed to reflect the focus and direction of this National business.
Media Contact:
OpsTechnology, Inc.
Sukhi Singh, 415.222.6992
Email: ssingh@opstechnology.com
Web site: www.Opstechnology.com
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