SOURCE: NWP Services Corporation

NWP Services Corporation

June 24, 2010 10:05 ET

NWP Services Corporation Introduces UtilitySmart™

Multifamily Housing Clients Can Now Take Advantage of Cutting-Edge Utility Management Processes to Optimize Multifamily Operations to Their Best Performance and Cash Flow

IRVINE, CA--(Marketwire - June 24, 2010) -  NWP Services Corporation (NWP), the leading provider of financial transaction processing solutions for the multifamily housing industry, announced the introduction of UtilitySmart™, the company's new utility management offering. Now, multifamily housing owners and operators can take advantage of UtilitySmart's cutting edge utility management processes developed specifically to optimize multifamily operations to their best performance and cash flow.

"Today, many multifamily owners and operators are feeling pressure to control expenses and increase the Net Operating Income of their properties," commented Michael Radice, president and CEO of NWP Services Corporation. "A significant opportunity is to focus on one of their largest operating expenses, utilities, but many struggle to know how to identify opportunities to reduce utility expense, reduce utility consumption and how to prioritize utility-related improvement projects so their assets can achieve their maximum financial potential. UtilitySmart helps to answer these questions by targeting utility expense and delivering a customized utility management solution to effectively control, manage and plan utility spend with precision," added Radice.

UtilitySmart™ delivers over ten intelligent modules that align to create a custom utility management suite for the specific location and dynamic of customer properties. Modules address all utility types including electric, natural gas, water, sewer and waste and range from Business Intelligence and Benchmarking Analytics to Vacant Recovery, each delivering a calculated return based on years of performance data.

Jim Charles, senior vice president of product management and engineering for NWP commented, "The UtilitySmart process begins with benchmarking, which property owners and fee managers do for most aspects of their business. For example, they already track how occupancy rates and rents stack up against the competition. Benchmarking their properties utility performance provides similar information from a cost and consumption perspective. This constitutes a new level of business intelligence that will help customers have transparency of operational cost, compare their usage performance against competitors and provide them with line-of-sight to identify solutions and new efficiency projects that will assist them to achieve measurable increases in Funds from Operations (FFO), Net Operating Income (NOI) and the asset value of their properties," Charles added.

With UtilitySmart's Business Intelligence and Benchmarking Analytics, a property can obtain a utility spend and consumption performance ranking based on the property's operating characteristics, location, and monthly utility use. The result is a comparative performance indicator that provides essential information to portfolios striving to reduce their utility costs and consumption. Once a single property, or a portfolio of properties, has received ratings, operations and maintenance staff can easily compare the utility performance of these properties against one another. This information is critical for identifying poor performers, proposing and prioritizing solutions, earning recognition for top performers, and identifying best practices that can be communicated and replicated. More than 1,100 multifamily properties are using UtilitySmart to benchmark their properties representing over 2.8M utility invoices.

"Through UtilitySmart, the industry now has access to a robust online, easy-to-use benchmarking and executive dashboard environment that provides key utility analytics generating line-of-sight to expense reduction projects, budgeting tools that simplify and expedite the entire budgeting process and a suite of new utility management modules from which to create a totally custom utility management solution for their unique properties and portfolios," commented Mark Gentile, Director of Product Management for NWP.

There are numerous benefits associated with UtilitySmart properties. In addition to larger-scale impacts such as reductions in utility consumption, sustainable best practices offer benefits to individual residents, which include reduced utility costs for their apartment homes. Economic benefits to owners and fee managers include long-term reductions in operating costs and utility expense as well as increased asset values of their properties as a result of positive gains in operating income. Visit www.beutilitysmart.com for a complete listing of UtilitySmart™ modules, request a demonstration and view exclusive web content.

NWP representatives will be demonstrating UtilitySmart's powerful suite of utility management services at the National Apartment Association's Annual Education Conference and Exposition held on June 24-26, 2010 at the Hilton New Orleans Riverside & Morial Convention Center in New Orleans, Louisiana at NAA Booth # 115. To learn more about the National Apartment Association, it's annual Education Conference and session details, visit www.naahq.org.

About NWP Services Corporation:
Headquartered in Irvine, California, NWP Services Corporation (NWP) provides financial transaction processing services for the multifamily industry including resident billing, resident payment and utility management. Resident billing helps owners recover utility expenses with options including convergent billing with Resident OneBill. NWP's Resident ePay service allows residents to pay rent and other charges online or in person with funds transferred to the bank electronically. NWP's utility management product, UtilitySmart, helps owners and operators optimize utility spend, increasing in Funds from Operations (FFO), Net Operating Income (NOI) and the asset value of multifamily properties. Additional information is available at www.nwpsc.com.

Contact Information

  • Contact for NWP Services Corporation:
    David Collins
    949-253-2589
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