Spend Management for the Multifamily Industry

– Service Allows Residential and Commercial Managers to Automate Bill Processing –

NMHC Apartment Technology Conference, Scottsdale, Ariz. — October 30, 2006 – OpsTechnology, a developer of Web-based systems that enable real-estate operating companies to improve their ability to manage and standardize their processes for procurement, purchasing and payables, today launched OpsInvoice (www.opsinvoice.com), the first on-demand processing service that allows real estate companies to implement one-step paperless invoice management.

OpsInvoice saves money, increases compliance, and streamlines the invoice receiving, entry, approval and storage associated with invoice processing. Suppliers simply send invoices to a central mailbox where operators manage the process for the entire portfolio. Once entered, the OpsInvoice processing solution will route the information to specific users for approval. The OpsInvoice solution gives real estate operating companies an online tool to approve, route and track invoices, review payment information, and even check against budgets in real time. Invoices are then automatically sent to users’ existing accounting systems for payment. OpsInvoice currently supports integrations to most ERP and accounting systems, including Oracle, JD Edwards, PeopleSoft, Yardi, Flexi, RealPage, Realeum, GEAC, Great Plains, SAP, Timberline, QuickBooks and others.

Sukhi Singh, Founder and Chief Operating Officer of OpsTechnology, said, “OpsInvoice makes invoice approval more convenient, but the real benefit of the service is the cost savings it generates and the visibility it creates. Decreased error rates lead to faster, more accurate payments, instant presentment eliminates the need to expensive couriers to send bills, and improved cycle times reduce late fees. Increased visibility into the current invoice obligations and ensured accuracy against corporate approval thresholds leads to better compliance and more information in the hands of the finance and operations departments. In addition, staff members can spend their time on revenue-generating work rather than on clerical tasks.”

OpsInvoice lets real estate operating companies:

• Save money on postage and overnight courier charges by eliminating the need to mail paper for payment.
• Save money by obtaining discounts for prompt payment through faster processing.
• Save money and time by eliminating duplicate data entry and increasing the accuracy of invoice entry and coding.
• Save time on administrative tasks such as copying bills, data entry and sorting invoice mail.

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.

Product Benefits

OpsInvoice Processing Service:

• Opens the mail for you.
• Scans your invoice to our hosted, managed, secure document servers
• Keys in comprehensive invoice information from the invoice
• Sends the invoice image and a completed voucher to you for a paperless approval.
• Stores the images online for you to review and print whenever you need it.
• Prepares and sends a configured file to your accounting system for payment
• Store the image and the approval information for unlimited retrieval online.

You will NEVER

• Open your invoice mail again.
• Key in another invoice again.
• Make Copies of Invoices to send for approval
• File an invoice.
• Mail invoices to the corporate office
• Manage Hardware and Software to store, route and approve invoices

Process Invoices for your Business

• Send your vendor bills directly to our mailbox where we pick up the mail and scan the invoices daily.
• Our operators key in the information from the invoice.
• We validate information against what is provided from your current accounting system.
• Once an invoice has been validated by our review process we send you an email to alert you about invoices waiting for your approval.
• Once you log in into the system you will see a list of all the invoices that you are responsible for approving - with all the information already keyed in to the system for you.

No More Data Entry, No More Opening the Mail

• Once you have added your company�s GL codes and other location information (optional) the information is stored on our servers.
• You can also automate accounting-code assignment using our GL code-profiling system.
• We store the invoices in our secure servers for you to review any time.

No More Manual Paper-Based Approval Processing

• Create custom approval routing based on a configurable rules engine.
• Automatically route documents to multiple people for approval.
• Standardize your corporate policy and procedures for Sarbanes-Oxley (SOX) compliance.
• Audit the approval history of all of your invoices.

No More Overnight Mailing = No More Waiting For the Bills to Get to Corporate

• You and your company will never have to store or ship invoices! We store all of the information online for you to look up at any time.
• All information is backed up and stored securely in our SAS 70-compliant data centers.
• We process all bills in 24 hours.

Media Contact:
OpsTechnology, Inc.
Sukhi Singh, 415.222.6992
Email: ssingh@opstechnology.com
Web site: www.Opstechnology.com