SANTA BARBARA, CA - Yardi Systems, a leading developer of real estate investment and property management software, announced today that Centerline Capital Group, a provider of real estate financial and asset management services, has selected Yardi Voyager™ to facilitate complete transparency and corporate-level oversight of its multifamily assets.
Centerline employs multiple management companies to oversee its more than 60 multifamily assets, and each uses a different property management system (Yardi or MRI). Before implementing Voyager, Centerline received multiple sets of paper reports each month. Now, using Yardi's Extract, Transform and Load (ETL) technology, all of this data is pulled into one central database—daily. Seconds later, Centerline can produce consolidated reports; the company has complete oversight of its portfolio at the click of a mouse.
Kevin Day, a vice president at Centerline, sees tremendous practical value in the new system. "We realized we needed our monthly financial data in one format. Previously, reports delivered by our property managers had to be manually compiled into one spreadsheet report, a cumbersome process," said Day. "Yardi Voyager enforces a consistent reporting standard across our properties and consolidates everything into one format, vastly improving our ability to track and report on property performance."
The ETL toolset provided by Yardi automates the extraction of financial and property lease data from all operating partners to Centerline's new Voyager system in a consistent format. This eliminates the need to rekey data, which can be labor-intensive, error-prone, and painstakingly slow.
To achieve optimal oversight, Centerline also implemented Yardi Executive Dashboard™. Dashboard displays portfolio-wide analytics and key performance indicators (such as vacancy and traffic) in a single, customizable, Web-based screen. This gives executives instant, meaningful insight from any Internet-capable workstation, without having to rely on consultants or IT. With Voyager's underlying, centralized database, they can easily drill down, all the way to the transaction level, on any of Centerline's 60-plus properties.
Centerline 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, so Centerline can focus resources on its core business.
Yardi partnered with REdirect Consulting, leveraging its proven rapid implementation process to ensure that Centerline is up and running on Yardi Voyager within 45 days, and with minimal impact or disruption to its operating partners.
"We are pleased that Yardi's ability to integrate disparate data, automate key reports, and deliver comprehensive oversight and transparency has provided Centerline the end-to-end asset management solution it sought to dramatically improve operational efficiency," said Richard Malpica, Yardi vice president and general manager, Eastern Region.
Source: Business Wire