SOURCE: Virtual Premise, Inc.

Virtual Premise, Inc.

March 31, 2010 12:45 ET

Virtual Premise Announces Revolutionary Enhancements to Its Real Estate Information Management Solution for Retailers

Powerful Strategy and Analytics Component Enables Retailers to Align Real Estate Operations With Company Objectives to Increase Profitability

ATLANTA, GA--(Marketwire - March 31, 2010) -  Virtual Premise, a leading Software as a Service (SaaS) provider of real estate information management solutions, today announced general availability of its newly enhanced VP Retail Edition™ which includes an advanced strategy and analytics module designed for company executives, real estate dealmakers, store planning and construction managers and anyone else who needs visibility into critical store performance and real estate information. This latest release of the company's proven solution for retailers answers customers' calls for technology that consolidates critical deal, store, lease, demographic, sales and center information with data from other business systems into actionable information.

"Virtual Premise has taken an entirely unique approach to solving the business challenges faced by retail companies," said Paul Hiers, partner at Asset Strategies Group (ASG) of Columbus, Ohio, an early-adopter of the new solution. "The company utilized their deep understanding of commercial real estate best practices to build a solution that supports every aspect of the real estate lifecycle. As a result, retailers now have an easy and accurate way to consolidate and analyze the complex information needed to effectively monitor store performance and strategy execution from a real estate perspective."

Embedded within the basic structure and functionality of the VP Retail Edition are industry best practices that help customers become efficient retail organizations that eliminate information silos, open stores faster, stay within budget, better manage their existing portfolio and leverage all available lease terms to their advantage. The strategy and analytics module provides customers with better business intelligence, efficiently consolidating market and competitor information, lease, and store performance indicators into one central system that empowers users at all levels of the organization to make better decisions and drive success.

"The significant amount of initial interest in our new solution we are seeing from retailers is a testament to the fact that we are answering a demand that we heard from our blue-chip retail customers and the market at large," said Andy Thomas, president and COO at Virtual Premise. "In developing our new solution, we have taken a revolutionary approach focused on providing the technology, services and best practices that retail real estate managers need to truly make a difference for their companies. Now, with our new strategy and analytics module, real estate organizations are transformed from reactive firefighters to preemptive, proactive teams who know how to set priorities for real estate initiatives that will make the biggest positive impact on their companies."

Virtual Premise will demonstrate the new real estate technology solution to retailers in the company's booth number S6653 at the ICSC (International Council of Shopping Centers) Recon Convention, May 23-25, 2010 in Las Vegas.

About Virtual Premise
Virtual Premise, Inc. is a leading SaaS provider of real estate information management solutions for corporations, retailers, restaurants, landlords and commercial real estate service providers. 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 www.virtualpremise.com.

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