News
NY Developer Deploys Automation to Shape Up Paper AP Process
Charlotte, NC (October 1, 2008) - Triangle Equities Development Company, LLC has selected AvidXchange and Intuit Real Estate Solutions (IRES/MRI) for their back-office platform. AvidInvoice for MRI is a web-based invoice management system designed to automate the way companies manage their accounts payable documents. The AvidInvoice module provides finance executives and AP managers with enforceable controls, powerful reporting and added "visibility" to all invoice documents in their organization while providing invoice "approvers" with features that make it easier to apply accounting codes and approve or dispute invoices.
"Our goal was to become paperless or as paperless as we possibly can. I like being able to see things straight from my desktop, as opposed to looking in various files. I had previously worked with a more primitive version of having invoices scanned after they were paid, so the check stub and invoice could appear on my desktop. This was great for both printing out backups for tenant operating pass-through and auditing, but it did not integrate with our AP software," said Jeff Sinacore, Chief Financial Officer at Triangle Equities.
About Triangle Equities
Founded in 1986, Triangle Equities Development Company, LLC, was established as a Queens-based full-service real estate firm. Triangle specializes in the creation of major public projects for New York City. It has successfully rejuvenated major hubs and urban renewal areas throughout the five boroughs. These projects have undergone intense public scrutiny, and have required approvals from local, state, and federal authorities. Triangle is both an owner as well as an investor in the real estate projects it develops. The management of a property they've developed, whether it's an office, retail, entertainment, residential, hotel or industrial space, is a critical component of Triangle's success. The importance of tenant relationships is always thoroughly emphasized through maintenance and marketing programs, landscape management, community relations, and security and vandalism programs. Additional information on Triangle Equities can be found at www.triequities.com.
About Intuit Real Estate Solutions
Intuit Real Estate Solutions (IRES/MRI), headquartered in Cleveland, Ohio, offers business management solutions to the global property management industry as well as to corporate real estate managers. Offering the most flexible solutions with both outsourced hosted offerings and packaged enterprise software, IRES strives to develop long-term successful relationships with its clients. The business currently has more than 4,500 clients on five continents and in 41 countries. Additional information on Intuit Real Estate Solutions can be found at www.realestate.intuit.com.
About AvidXchange
Founded in 2000, AvidXchange, Inc., headquartered in Charlotte, North Carolina, is the industry-leading provider of paperless invoice management and electronic purchase order tools for real estate companies in the office, retail, multi- family and industrial sectors. More than 35 public REITs and over 140 real estate companies are managing their payables with AvidInvoice, the SAS 70 Certified AP workflow solution that eliminates lost invoices, minimizes late fees/overnight courier charges and reduces invoice processing costs by up to 50%. Additional information on AvidXchange can be found at www.avidxchange.com.
For Immediate Release
Contact: Michael Praeger
mpraeger@avidxchange.com
704.971.8101
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