June 19, 2006 07:00 ET

KSI Management Selects OpsBuyer to Manage Procurement, Purchasing and Payables

SAN FRANCISCO, CA -- (MARKET WIRE) -- June 19, 2006 -- OpsTechnology (www.opstechnology.com), a developer of Web-based systems that enable real-estate operating companies to decrease costs and increase Net Operating Income (NOI), today announced that multifamily real estate firm KSI Management is now using its on-demand OpsBuyer suite to manage procurement, purchasing and payables operations in its communities. KSI Management oversees operations of over 8,000 units in 34 apartment communities throughout the DC Metro region, most of which KSI Services owns or is the majority owner. The firm expects to add 4,500 additional units over the next several years. The units range from high-end luxury to some of the most desired affordable housing in the Greater Washington area.

KSI is using OpsBuyer to centralize its data, standardize workflow processes, and increase purchasing compliance. The company's property managers can now use a Web-based interface to create and approve purchase orders, receive and process invoices, track purchases and reduce invoice-coding errors. OpsTechnology is also managing and hosting the online catalogs of KSI Management suppliers, contract pricing, and integrations between existing order processing, inventory and invoicing systems and customers' accounting systems.

"We looked at several alternatives for a spend-management solution," stated Andrew M. Timmins, Director of Financial Systems and Planning at KSI Management. "Our goal was to find a hosted solution that was easy to use and deploy. OpsTechnology's established interfaces with Intuit Real Estate Solutions (formerly MRI) and robust supplier catalog with pre-built integrations to submit and receive invoices electronically were among the key decision-making factors in deploying the solution at KSI. We have realized better visibility and significant time savings across the board in our organization."

Sukhi Singh, Founder and Chief Operating Officer of OpsTechnology, said, "KSI represents yet another example of how the best-of-breed approach to property management software is right for the solution. OpsTechnology's extensible solutions allow us to integrate with various applications to ensure that our customers receive the best set of features required to optimize their operations."

About OpsTechnology

OpsTechnology develops software that saves money for real estate operating companies by improving their ability to manage and standardize Procurement, Purchasing and Payables functions. Founded in 1999 by real estate and technology industry experts, the company is backed by real estate operating companies and VC firms including SAP Ventures, Vortex Partners, Cohen & Steers, Equity Residential, and Camden Property Trust. For more information, visit www.opstechnology.com.

About KSI Management

Based in Centreville, VA, KSI Management Corp. provides property management and marketing services for its own properties and for third parties on a fee-managed basis. To accomplish their mission of creating and managing distinctive communities, KSIM provides the highest level of customer service and the finest quality homes in every market and price range, as showcased in their 34 apartment communities throughout the Washington metro area. www.ksi.com