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Company News
Press Releases
Mid-America Apartment Communities Completes Deployment of OpsTechnology's Expense Management Platform
-- Memphis-based REIT is using on-demand tool for procurement and invoice management for 40,000 units --
San Francisco, Calif. - December 17, 2007 --
OpsTechnology (www.opstechnology.com),
the leading provider of on-demand systems that enable real-estate
operating companies to automate their purchasing, payables and
procurement functions, today announced that Mid-America Apartment
Communities, Inc. (NYSE: MAA, commonly known as "Mid-America") has
fully deployed OpsTechnology's entire suite of products - including
its integrated procurement, invoice management and budget-based approval
engine applications - for its portfolio of over 40,000 apartments
in the Sunbelt region.
"After an intensive due diligence process, we chose OpsTechnology because our goals were to
find an integrated invoice management and eProcurement application, eliminating data entry,
decreasing administrative costs, increasing compliance and allowing our site users to focus on
revenue-generating and service-related activities," said Rick Barton, Senior Vice President and
Controller for Mid-America. "OpsTechnology's reporting and workflow functionality also provides
us with a comprehensive audit trail for Sarbanes Oxley compliance, which was also a key
decision driver."
"We're very excited to work with Mid-America and deliver the expense visibility and site-level
control they're looking for," said Sukhi Singh, COO of OpsTechnology. "We've designed our
services to deliver ROI by controlling spend, saving time, and reducing errors through an
integrated community of national and large-scale regional service and product suppliers, invoice
processing services, and full integration with other financial systems," said Singh.
About Mid-America Apartment Communities, Inc.
Mid-America is a self-administered, self-managed apartment-only real estate investment trust,
which owns 40,248 apartment units throughout the Sunbelt region of the United States of
America. Mid-America's common stock is listed on the New York Stock Exchange under the
symbol 'MAA'.
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
manages spend for assets valued in excess of $100 billion and serves 8 of the top 10 REITs
in the United States. For more information, visit
www.opstechnology.com.
Media Contact:
OpsTechnology, Inc.
Sukhi Singh, 415.222.6992
Email: ssingh@opstechnology.com
Web site: www.Opstechnology.com
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