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American Assets Cuts Loyalty to Paper Process, Entrusts Automation
Charlotte, NC (July 16, 2009) - American Assets 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.
About American Assets
Founded in 1967, American Assets, Inc. (AAI) is a full-service real estate company specializing in the investment, development and management of retail, office and multi-family real estate throughout the United States. AAI has been steadfast in its approach to acquiring and developing premiere assets in some of the nation's most desirable markets including San Diego, San Francisco, Monterey and Waikiki. AAI has strong relationships with leading financial institutions, including Bank of America, Citicorp, Wells Fargo Bank, Bear Sterns and Morgan Stanley. Today, the American Assets portfolio boasts more than 3.1 million square feet of retail space, 2.1 million square feet of office space and approximately 1,000 residential apartment units all primarily focused in California, but with significant holdings in Texas and Hawaii. Additional information on American Assets can be found at www.americanassets.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 160 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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