October 08, 2009 09:08 ET

Virtual Premise Rolls Out Enhanced Portfolio Management Module

Innovative Lease Administration Functionality Answers Customers' Need to Increase Productivity and Data Accuracy, While Reducing Compliance Risk

ATLANTA, GA--(Marketwire - October 8, 2009) - Virtual Premise, a leading SaaS provider of real estate information management solutions, today announced immediate availability of its enhanced Portfolio Management Module, which includes customer-driven expansion of its lease administration functionality. These time- and cost-saving enhancements are available to Virtual Premise customers at no additional charge and give them access to new Express Charge Entry features, which have been designed to significantly increase employee productivity and data accuracy, while helping to ensure positive audit outcomes.

The new lease administration innovations prove the company's dedication to supporting its customers' critical need for advanced financial information, which is quite different from standard corporate accounting information. Lease administration functionality, which is part of the core Virtual Premise offering, easily integrates with a company's current financial systems to provide real estate professionals a central location from which to automatically collect, manage and report on all real estate data, including real estate accounting information. As a result, companies benefit from a streamlined lease-based charge process that eliminates redundant work while ensuring unprecedented ease, speed and accuracy of data collection.

"Our prime objective at Virtual Premise is to give our customers the power to improve their businesses with effective and pragmatic technology solutions based on industry best practices and standards," said Andy Thomas, president and COO of Virtual Premise. "As customers look to reduce the time and resources it takes to manage their lease-based charges process, the extended capabilities of the Virtual Premise solution provides single-source, integrated visibility into a company's entire real estate information database, eliminating data entry errors that lead to missed payments, incorrect rent schedules or Sarbanes-Oxley non-compliance."

As part of the standard solution, Virtual Premise's lease administration functionality allows users to enter lease charges for both payable and receivable leases, process payable charges for payment, create invoices for receivable charges, post cash receipts, and integrate with corporate accounting systems. Because the Virtual Premise real estate information platform is built according to industry standards, it integrates seamlessly with existing financial tools, including accounting and ERP software, enabling easy data exchange with other enterprise solutions and technologies.

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 www.virtualpremise.com.

Contact Information

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    Star VanderHaar
    Arketi Group
    404.929.0091 x205
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