ALCO reduces time required to process checks by 75%.
Q: Tell us about ALCO Management.
A: For more than 40 years, ALCO has developed, acquired, and managed apartment communities throughout the Southeastern United States. We currently have approximately 7,000 apartments under management. In the mid-2000s we became increasingly active in developing housing under the Section 42 Low-Income Housing Tax Credit program and our compliance requirements grew. This led us to seek software to eliminate redundant data entry and other inefficient practices by integrating multiple property management, accounting and affordable housing databases.
Q: Why did you go with Yardi?
A: The centralization of core functions and enhanced reporting tools made Yardi Voyager[TM] the best solution for ALCO. We were also impressed by Yardi's strong presence in the Affordable Housing market and by their understanding of HUD compliance issues. We've since extended our Voyager platform with Yardi Procure to Pay[TM], Yardi CHECKscan[TM], Yardi Resident Screening[TM], Yardi Energy Solutions[TM], and Yardi Fixed Assets[TM]. The fact that all of these products work together in a completely integrated platform creates real savings for ALCO. For example, Yardi CHECKscan reduces the time it takes to process tenant receipts by 75%.
Q: What is new for ALCO in 2013?
A: We have a lot going on with Yardi this year including upgrading our portal offering to RENTCafe, implementing Yardi Leasing Pad[TM] and Yardi PopCard[TM], and expanding our use of Yardi Procure to Pay. With Yardi Procure to Pay we are looking to create more efficient procurement processes and create more internal efficiencies by routing invoices for approval online. What we anticipate with Yardi Leasing Pad is the flexibility of leasing agents to be able to use a tablet to gather information while showing apartments, and not be tied to a desk when working with prospects.
Q: What is it about Yardi that works so well for ALCO?
A: Yardi Voyager is valuable to ALCO because everything is built into one integrated platform. A good example is Yardi Resident Screening, which pulls accurate, real-time data from the database and feeds the screening results directly back into the system. Yardi Resident Screening is a part of the solution; it lives in the system and affects other decision making in real time without the need to import data from another service. Like all Yardi products, it is truly integrated and not just interfaced; that's the benefit.
Executive Vice President, Chief Administrative Officer ALCO Management, Inc.