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Company News
Press Releases
Lane Company Selects OpsBuyer to Manage Procurement, Purchasing and Payables
-- Atlanta-based multifamily company latest user of industry's #1 on-demand payables tool --
San Francisco, California - May 1, 2006
OpsTechnology (www.opstechnology.com), a developer of Web-based systems that enable real-estate operating companies to decrease costs and increase NOI, today announced that multifamily real estate firm Lane Company is now using its on-demand OpsBuyer suite to manage procurement, purchasing and payables operations in its communities. Lane Company subsidiary Lane Investment and Development, LLC has developed more than 20,000 condominium homes and apartment units, Lane Realty Construction, LLC has built more than 11,000 units and constructed over 100 multifamily and commercial projects, and Lane Management, LLC manages approximately 30,000 apartment units in eleven states.
Lane will now manage its onsite purchasing and invoice processing - from processing paper invoices to tracking expenses to budget and routing information - based on configurable workflow rules and processes developed by OpsTechnology. Suppliers are also able to receive purchase orders from OpsBuyer and seamlessly transmit approved invoices to Lane's back-end accounting system Great Plains. The selection of OpsBuyer completes the Suite of products that Lane will utilize as the operating system for its managed properties. OpsTechnology along with RealPage and Microsoft make up this cutting edge operating system.
According to Dan Haefner, Chief Information Officer and Senior Vice President at Lane Company, "Lane Company prides itself on its use of technology, and we are confident that OpsBuyer will help us meet our goals of improving efficiency and productivity, while providing substantial positive improvement to bottom line operations."
Sukhi Singh, Founder and Chief Operating Officer of OpsTechnology, said, "Lane is the latest top-50 multifamily company to select OpsBuyer as part of its best-of-breed approach to property-management operating systems. Our on-demand payables, purchasing and procurement solution, combined with other applications for leasing, work order and financials, will provide Lane with real-time visibility into revenue and expenses to maximize their portfolio performance. These applications will provide Lane's on-site staff the tools to focus more on customer-service and marketing issues and less on bookkeeping and administrative tasks."
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 Lane Company
Lane Company (www.lanecompany.com) is an award winning, vertically integrated, full-service multifamily real estate company. Lane's expertise extends to all areas of real estate including property management, asset management, development, construction and condo conversion and sales. With over 30 years experience, Lane Company is recognized as one of the most innovative, efficient and technologically-advanced firms in the multifamily industry.
Media Contact:
OpsTechnology, Inc.
Sukhi Singh, 415.222.6992
Email: ssingh@opstechnology.com
Web site: www.Opstechnology.com
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