Automated processing means fewer bank trips, immediate funds availability
SANTA BARBARA, CALIF., Feb. 02, 2012 – Yardi announced today that Carroll Management Group LLC has collected rent payments more quickly and efficiently since adding Yardi CHECKscan™ to its Yardi Voyager™ property management and accounting system.
Seeking to improve cash flow and reduce manual labor tasks for its property managers, Carroll Management Group adopted Yardi CHECKscan in 2011. The company is executing a phased rollout of the solution to its market-rate and affordable apartment communities.
“CHECKscan saves our property managers’ time by automating the processing of rent checks and virtually eliminating trips to the bank,” said Larry Greenway, chief financial officer for Carroll Management Group. “The full Voyager integration accurately records deposits in our ledgers, and our property managers can spend their time on core property management duties.”
Carroll Management Group uses Yardi CHECKscan to scan residents’ rent checks into electronic Yardi Voyager transactions. Following online review by company officials, Yardi CHECKscan auto-transfers the funds to Carroll Management Group’s bank the same day.
“Payments are automatically posted to Voyager and simultaneously deposited to our bank account. We need cash in the system to make our own bill payments, so the immediate funds availability that CHECKscan makes possible is very important to us,” Greenway said.
About Carroll Management Group LLC
Carroll Management Group LLC, based in Greenville, S.C., was formed in May 2010 when Atlanta-based Carroll Organization Inc., a fully integrated owner and operator of multifamily real estate, acquired Hediger Enterprises and renamed it Carroll Management Group. Operating as a subsidiary of Carroll Organization, Carroll Management Group manages a portfolio of more than 20,000 apartments in 12 U.S. states. For more information, visit www.carrollmanagementgroup.com.
About Yardi
Yardi Systems has been committed to the design, development and support of real estate investment management and property management software for nearly 30 years. With its Yardi Multifamily Suite™, Yardi Commercial Suite™ and Yardi Investment Suite™, the Yardi Voyager™ system is the most comprehensive single real estate management platform on the market today. Yardi serves clients around the world from offices in Asia, Australia, Europe and North America. More information about Yardi products and services is available at www.yardi.com.
Trade Media Contact: Joel Nelson 805.699-2040, ext. 1255