Wadsworth Development Group Expands Its Yardi Voyager Property Management Platform
Commercial property manager supplements its Software as a Service platform with solutions for budgeting, mobile leasing, fixed assets, electronic invoice processing, maintenance and business intelligence
SANTA BARBARA, CALIF., Dec. 16, 2014 – Vertically integrated commercial real estate company Wadsworth Development Company (WDG), gearing up to handle increased work volume resulting from rapid portfolio growth, recently adopted several new software solutions from Yardi®.
“After evaluating four or five options, we selected Yardi Voyager® as our new property management and accounting platform based on its ability to handle multiple property and investment management operations along with its Software as a Service capability,” said Mike Gibbons, chief financial officer for WDG.
WDG will extend Yardi Voyager by adding new products to the browser-agnostic, mobile-enabled platform. One of them is Yardi Advanced Budgeting & Forecasting™, an automated solution that delivers accurate budget projections for revenue and expenses using tenant lease data drawn from Yardi Voyager. “We conduct extensive modeling to determine the optimum retention for each asset. Advanced Budgeting & Forecasting will let us do that within Voyager instead of using an external analysis tool. This will provide faster, more accurate evaluations of each asset,” Gibbons said.
WDG will improve interaction with clients using Yardi Commercial LeasingPad™, an automated, fully mobile solution that shortens leasing cycles by combining contact and prospect management with portfolio health analytics. “We will use Commercial LeasingPad to extend opportunities for personal, real-time interaction with clients and prospects,” Gibbons said. “Our leasing agents can finalize lease terms right in front of potential clients without returning to the office.”
The Utah-based company will improve asset tracking and reporting accuracy with Yardi Fixed Assets™, which enables monitoring of fixed assets from purchase order issuance through purchase, use and final disposition; reduce its paper footprint with Yardi PAYscan™, which scans invoices into electronic transactions and automates the approval workflow through vendor payment; and improve responsiveness to tenants with timely repairs with Yardi Maintenance Mobile™, which allows workers to create, update and close work orders from a mobile device, with results automatically recorded in Yardi Voyager.
The mobile-enabled Yardi Orion™ Business Intelligence solution will combine WDG’s financial and financial and operational data from Yardi Voyager into a 360-degree view of the business. “We’ll have customized dashboards at our fingertips in a timely fashion, improving our decision-making ability,” Gibbons said.
About Wadsworth Development Group
Wadsworth Development Group (WDG), a Draper, Utah-based brother company of Ralph L. Wadsworth Construction Company, began in 1996 with the development of 14 acres of land. WDG has evolved into a regional commercial real estate company that operates more than 35 properties throughout the intermountain area whose value exceeds $200 million. In October 2014, two entities owned by WDG won the Mountain West Capital Network’s Top 100 award, given to Utah’s 100 fastest growing entities. Other awards include 39th place in Utah Business’ Fast 50 awards (August 2014), a Top 10 Commercial Real Estate Developers in Utah by Utah Business magazine (July 2014), Utah Best of State (2013 and 2014), and the 2014 Volunteer of the Year Award from the Children’s Justice Center of Salt Lake County (June 2014). For more information, visit www.wadsdev.com.
Now in its fourth decade, Yardi® is committed to the design, development and support of software for real estate investment management and property management. With the Yardi Commercial Suite™, Yardi Multifamily Suite™, Yardi Investment Suite™ and Yardi Orion™ Business Intelligence, the Yardi Voyager® platform is a complete real estate management solution. It includes operations, accounting and ancillary processes and services with portfolio-wide business intelligence and platform-wide mobility. Yardi is based in Santa Barbara, Calif., and serves clients worldwide from offices in North America, Asia, Australia, Europe and the Middle East. For more information, visit www.yardi.com.