IRVINE, CA - NWP Services Corporation (NWP), the leading provider of financial transaction processing solutions for the multifamily housing industry, announced that it will introduce its next generation utility management offering, UtilitySmart™, at the National Apartment Association's (NAA) Annual Education Conference and Exposition on June 24-26 in New Orleans, Louisiana.
"UtilitySmart is an all-new utility management suite of products that wholly targets one of multifamily properties' largest operating expenses: utilities," commented Michael Radice, president and CEO of NWP Services Corporation. "With it, owners and operators can effectively control, manage and plan utility spend with precision, and as a result, gain measurable increases in Funds from Operations (FFO), Net Operating Income (NOI) and asset value of their properties," Radice added.
When introduced later this month, the cutting edge product will deliver over ten intelligent modules that align to create a custom utility management suite for the specific location and dynamic of customer properties. Modules range from business intelligence and benchmarking analytics to vacant recovery, each delivering a calculated return based on years of performance data.
Jim Charles, senior vice president of product management and engineering for NWP, commented, "Property owners and fee managers benchmark most aspects of their business. For example, they already track how occupancy rates and rents stack up against the competition. Benchmarking their properties' utility performance provides similar information from a cost and consumption perspective. This constitutes a new level of business intelligence that will help customers have transparency of operational cost, compare their usage performance against competitors and provide them with line-of-sight to identify solutions and new efficiency projects that will assist them in reducing expense, improving net operating income and values of their properties."
"Utility Budgeting is also included in the UtilitySmart Suite," said Charles. "Utility Budgeting is an integrated budgeting and forecasting tool for the portfolio and property; it streamlines the entire budgeting process from data creation/importing to budget distribution and time spent populating spreadsheets with prior-year data. It simplifies and expedites the entire budgeting process."
Multifamily housing owners and operators will soon be able to take advantage of UtilitySmart's cutting edge processes developed specifically to optimize multifamily operations to their best performance and cash flow. Visit www.beutilitysmart.com for a sneak preview, request a demonstration and view exclusive web content.
Additional educational resources are now available including an on-demand webcast: Green Light: Using energy benchmarking to boost NOI. Watch it now and learn how new legislative mandates and requirements for publically disclosing utility consumption and cost will impact the multifamily housing industry and discover how benchmarking will help the industry prepare to meet new challenges.
NWP is a proud sponsor and supporter of the NAA and will be attending and exhibiting at the Annual Education Conference and Exposition held on June 24-26, 2010 at the Hilton New Orleans Riverside & Morial Convention Center in New Orleans, Louisiana. NWP representatives will be demonstrating UtilitySmart for conference and exposition attendees at NAA Booth # 115. To learn more about the National Apartment Association, its annual Education Conference and session details, visit www.naahq.org.
Headquartered in Irvine, California, NWP Services Corporation (NWP) provides financial transaction processing services for the multifamily industry including resident billing, resident payment and utility management. Resident billing helps owners recover utility expenses with options including convergent billing with Resident OneBill. NWP's Resident ePay service allows residents to pay rent and other charges online or in person with funds transferred to the bank electronically. With UtilityPay Manager, NWP processes invoices sent to properties by utility companies, helping managers reduce time spent on administrative work while providing valuable data and additional utility cost management opportunities.
Source: NWP Services Corporation