Entrata Championed Innovation and Openness at 2015 Summit
September 21 2015
LEHI, UT - Entrata, real estates fastest growing technology company, kicked-off its third annual user Summit, on Wednesday, convening a sold-out registration of more than 300 multifamily professionals to explore leading-edge technology developments, trends and best practices at the Stein Eriksen Lodge in Park City, Utah.
This years conference commenced with CEO Dave Bateman highlighting Entratas milestones over the last twelve months:
- Rebranded from Property Solutions to Entrata on June 24, 2015.
- Announced it reached $100 million in annual recurring revenue for 2015.
- Released its property management software for general availability.
- Processed more than $15 billion in payments over the last 12 months.
- Completed 20 major product enhancements over the last year including a multifamily specific calendaring application, improved reporting framework and a more user-friendly dashboard.
- Invested in responsive, Google friendly web technology for more than 1,000 property websites and Entratas own platform applications, increasing duration on site by 954 percent and decreasing user bounce rates by 186 percent.
- Further automated its lead communication tools to boost lead contact rates of an industry average of 1.3 times to over 8 times.
- Assisted properties in delivering more than 1.7 million packages to their residents using ParcelAlert.
- Recaptured more than $7 million in costs for properties using Entratas ResidentUtility convergent billing system.
Our nimble, native architecture is allowing us to grow and innovate faster than any other software company in the space, said Dave Bateman, CEO, Entrata. We are listening to our clients and working to provide only the best in class, customizable software they demand.
During the event, attendees were also treated to an exclusive advanced screening of Universal Pictures Everest, a film which depicted actual events atop Mount Everest which Summit Keynote and world-renowned mountaineer, Ed Viesturs, personally experienced. Prior to the screening, Entrata presented a check for $20,000 to the OxFam International Nepal Earthquake Relief Fund.
The talent and energy of the Entrata team at the Summit solidifies in my mind that the future of the company is only going in one direction and thats up, said Todd Horton, business systems manager, RAM Partners, LLC. Entrata listens. The product updates and announcements made at this years Summit were the answer to many of the challenges weve been experiencing with our technology.
Additional highlights of this years conference included a keynote by Tony Fadell, CEO and founder of Nest and godfather of the iPod in addition to targeted workshops, platform training and a highlight of the industrys most innovative technology. Attendees were also given a sneak peek of the Entrata enhancements currently in development and set to be released in the weeks and months following the Summit, including:
DocumentStorage Partnership with NAA
Entrata partnered with the National Apartment Association (NAA) Click&Lease to provide clients with real-time syncing for all documents within Entrata. The intuitive workflow allows for easy upload, labeling and searching of documents and emails with no time limits, expirations or storage size limits.
Enhanced Corporate Accounting and Vendor Payment Features
Entrata users will soon be able to use job costing to forecast materials, labor and any other overhead expenses through Entratas advanced accounting module, in addition to new features that will fully automate corporate accounting activities such as management fee bookings, bill-back collections, inter-entity reimbursement, reconciliation and vendor payments. A VendorAccess portal will allow vendors to easily understand business requirements and speed up the procurement process with automated electronic orders, invoicing and payments.
Entrata Commercial and Affordable
Entrata is actively working with clients to create a product for the commercial and affordable sectors. Commercial features are being designed to allow for online commercial and retail leasing, managing CAM expenses, setting up flexible space configurations and tracking upcoming renewal options. The initial release of the affordable product will include solutions for managing compliance for HUD and Tax Credit properties.
New ResidentPortal App
The new ResidentPortal App, scheduled for Q4 2015, will allow residents to make payments, submit maintenance requests, stay in regular communication with property staff and review and sign lease and renewal documents all from the convenience of their mobile phone. It uses native architecture and was built specifically for a truly responsive, mobile experience. Entrata is now the first to offer a One-Tap VoicePay system that takes advantage of the brand-new iOS feature - deep linking - to allow residents to use a voice command to pay rent with just one tap to confirm the payment action.
We have recently seen a huge uptick in our mobile traffic, so Im incredibly excited about the functionality, design and simplicity of the newly announced ResidentPortal app, said Sara Graham, Director of Marketing, The Dolben Company, Inc. We anticipate that this will greatly enhance our efforts in creating a mobile-friendly experience for our residents.
Founded in 2003, Entrata is the only comprehensive property management software provider with a single-login, open-access Platform as a Service (PaaS) system. Offering a wide variety of online tools including websites, mobile apps, payments, lease signing, accounting, and resident management, Entrata PaaS currently serves more than 20,000 apartment communities nationwide, including 34 of the NMHC Top 50 Largest Managers. Entratas open API and superior selection of third-party integrations offer management companies the freedom to choose the technology and software that best fit their needs. For more information, go to www.entrata.com.