SOURCE: Virtual Premise, Inc.

Virtual Premise, Inc.

January 26, 2010 09:22 ET

Banking Customer Expansion Validates the Flexibility of the Virtual Premise SaaS Solution

Top 5 North American Bank Selects Virtual Premise to Consolidate ATM, Corporate and Bank Branch Real Estate Information Into One Central Location

ATLANTA, GA--(Marketwire - January 26, 2010) - Virtual Premise, a leading SaaS provider of real estate information management solutions, today announced that it has expanded its relationship with a major banking customer to include tracking of non-traditional real estate locations, such as bank ATMs. This large North American bank, which currently uses the Virtual Premise solution to streamline corporate and bank branch acquisition, disposition and lease renewal processes across all of its corporate real estate portfolio, will use Virtual Premise to manage the real estate contractual information for its national network of more than 8,000 remote ATMs. In addition to tracking locations and real estate contractual changes, the bank will have access to a summary of each ATM's transactional activity and demographics, enabling it to make more informed real estate decisions.

Whether residing on a bank's property or in a retailer's location, banks face a unique set of real estate data management and operational challenges related to the overall management of ATMs. The Virtual Premise solution is flexible enough to manage all lease administration information that is specific to each ATM, such as lease terms and security requirements, as well as all operational data related to installation and upgrades. Because the Virtual Premise solution integrates all ATM, corporate and bank branch real estate data into a central location, the bank has greater visibility into all of its real estate data, giving it the ability to better manage costs.

"ATMs are a critical component to every bank's business model because they address a business, customer service and marketing need," said Andy Thomas, president and COO of Virtual Premise. "With consumers having access to ATMs 24 hours a day, seven days a week, banks must keep them functioning around the clock. By integrating ATM lease and operational data into its real estate information management system, our customer can now successfully leverage their entire real estate portfolio -- traditional and non-traditional locations -- as a strategic asset."

The Virtual Premise solution is flexible, helping companies collect, manage and report on complex real estate information for a number of entities, including office and retail locations, ATMs, kiosks, cell towers and land. In addition to standardizing commercial real estate (CRE) processes, Virtual Premise also maximizes cost savings by providing critical date notifications related to lease expirations, rent increases, options and more. As a Software as a Service (SaaS) provider, Virtual Premise delivers its solution across the Internet, giving customers the ability to access information at any time, from any location.

About Virtual Premise

Virtual Premise, Inc. is a leading SaaS provider of real estate information management solutions for corporations, landlords, commercial real estate service providers, retailers and restaurants. With the Virtual Premise Global Real Estate Management System™, companies have a smart, easy way to collect, manage and report on complex real estate information from anywhere, at anytime. Based on .NET technologies and SAS 70 Type II compliant, Virtual Premise technology solutions include portfolio management, lease management, lease administration, project management, transaction management, and document management. Virtual Premise also offers a wide range of supporting services to include lease abstracting, document management services, data validation, due diligence support, and best practices consulting. For more information, call 404-267-1781 or visit

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