
Intuit Real Estate Solutions offers strategic integration with Rainmaker for revolution LRO (Lease Rent Options)
CLEVELAND, Ohio — November 13, 2008 — Intuit Real Estate Solutions (IRES) has entered into a strategic integration agreement with The Rainmaker Group, a Georgia-based company specializing in automated revenue management software and services to the multifamily, casino gaming and hospitality industries for total property profitability. IRES, a division of Intuit Inc., (Nasdaq: INTU) provides real estate management, portfolio management and accounting software solutions to the global real estate industry.
Through this integration agreement, IRES is able to offer its customers bi-directional integration from Rainmaker’s revolution LRO revenue management offering directly automating IRES’s real estate management software which allows multi-family housing operators to maximize revenue from apartment leases. Rainmaker’s revolution LRO uses advanced mathematical modeling designed specifically for multi-family housing companies. It enables IRES clients to:
• Leverage high demand periods for increased lease/rents
• Identify changing markets and recommend appropriate optimized rates
• Provide discipline to the pricing process
• Embed corporate strategy into pricing decisions
• Drive pricing consistency and make optimized, uniform decisions '7 x 52'
• Implement optimized pricing compliance across all properties
• Enhance market understanding
revolutionSM LRO works in perfect sync with IRES’ MRI Residential Management solution to ensure pricing and other outputs are based on the most current operating data. This integration will eliminate manual rekeying and the associated data entry errors. It also enables the seamless exchange of data between IRES’ solutions and revolution LRO for the most efficient use of resources.
“We are excited about our partnership with Rainmaker because it solves a critical business process for our strategic residential management clients,” stated Matt Thomas, Partner & Alliance Manager for IRES. “Our strategy is to provide solutions that give our customers options by having the flexibility to select best of breed offerings. This integration with Rainmaker protects our customer’s investment in both our solution as well as Rainmaker’s.”
Jeff Thompson, division president of IRES, added, “The Rainmaker Group integration will allow our clients to maximize profits and optimize revenue across their entire organization. At IRES, we are glad to offer our clients this potential.”
Bruce Barfield, president of The Rainmaker Group, said, “Our two-way data interface with MRI software from IRES enables multifamily operators to optimize their lease/rent revenue without having to manually rekey community performance and availability data. Rainmaker clients consistently gain 3.2 to 5.2 percent revenue lift with the revolution LRO profit optimization solution and the interface with MRI makes the system simpler to use for operators.” Leading multifamily companies using both LRO and MRI include Archstone, Simpson Housing, Equity Residential, Post Properties, Mid America Apartment Communities, Home Properties, Julian LeCraw & Company, Babcock Brown Residential, General Investment & Development and Carmel Partners.
“The formal solidification of this integration agreement by these two “Best of Breed” applications represents a strong alliance for the multifamily industry,” said Dan Amedro, Chief Information and Marketing Officer of Archstone. “At Archstone, our business is heavily dependent on both LRO for our pricing decisions and IRES for our property operations and e-commerce initiatives. The joining of these two applications is essential in our daily operations.” About Intuit Real Estate Solutions
Intuit Real Estate Solutions offers business management solutions to the global property management industry as well as to corporate real estate managers. Offering the most flexible solutions with both outsourced hosted offerings and packaged enterprise software, Intuit Real Estate Solutions develops long-term successful relationships with its clients. The business currently has more than 4,500 installations on five continents and in 41 countries. For more information, please visit www.realestate.intuit.com.
About The Rainmaker Group
The Rainmaker Group provides revenue management for more than one-half million units in the gaming hospitality, multifamily housing and other industries. The company provides the revolution LRO TM profit optimization solution that enables multifamily housing operators to maximize revenue from apartment leases. revolution LRO TM lease rate improvement results have been reviewed and validated by independent accounting firms. For more than five years revolution LRO TM has delivered optimized leasing rates to the largest operators in the industry including Archstone, Equity Residential, Post Properties, Laramar Group, Home Properties, Simpson Housing, Mid-America Apartment Communities, Carmel Partners and other leading multifamily housing companies.
The Rainmaker Group also implements and supports the revolution Product Suite, which maximizes total property profitability for operators of casino hotels and other hospitality enterprises. The company enables clients to identify and maintain availability for their most profitable revenue sources through revenue management implementations. The Rainmaker Group helps casino hotels increase profitability through the accurate, instantaneous ability to determine the minimum acceptable value of each guest. This increases client profitability by securing the most profitable customers and developing more effective business processes. Hospitality clients include Boyd Gaming, Harrah’s Entertainment, Omni Hotels, MGM MIRAGE, Trump Entertainment Resorts and other leading hotel companies.
About Intuit Inc.
Intuit Inc. is a leading provider of business and financial management solutions for small and mid-sized businesses; financial institutions, including banks and credit unions; consumers and accounting professionals. Its flagship products and services, including QuickBooks®, Quicken® and TurboTax® software, simplify small business management and payroll processing, personal finance, and tax preparation and filing. ProSeries® and Lacerte® are Intuit's leading tax preparation software suites for professional accountants. The company’s financial institutions division, anchored by Digital Insight, provides on-demand banking services to help banks and credit unions provide new, innovative solutions for small businesses and consumers. Founded in 1983, Intuit had annual revenue of $2.67 billion in its fiscal year 2007. The company has more than 8,100 employees with major offices in the United States, Canada, the United Kingdom and other locations. More information can be found at www.intuit.com.
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