Associated Estates Realty Corporation
Technology plays a key role in enabling us to provide optimum service to our existing and potential residents. Our commitment to state-of-the-art software is reflected in the ongoing rollout of LISAĻ (Leasing Information System Assistant); the implementation in 1997 of PeopleSoft financials, budgets, human resources, and payroll systems; and the introduction in 1998 of Yardi Systems, which will allow for the dissemination of critical data between each property and the main office.
LISA, introduced in 1995, is a marketing system which automates activities associated with the leasing and managing of apartment communities. LISA operates as a stand-alone system or as part of a client/server system. Leasing activity at each property is closely monitored through a dial-in feature that connects with local databases for sales analysis and consolidated management reporting. As new properties are acquired or developed, LISA is installed and the leasing personnel are trained to utilize the software to keep track of daily move-ins, move-outs, lease renewals, resident follow-up activities, and prospective residents.
In an effort to continue to better serve our customers, we adopted PeopleSoft technology in 1997 to streamline our information needs. The software handles a wide array of tasks related to all aspects of our business. For example, it assists the human resources department in payroll and benefits administration and in the tracking of employment applicants. The financials module maintains the Company's general ledger, accounts payable and budget. Future implementation of PeopleSoft technology will aid our purchasing department.
In 1998 we will implement a new software introduced by Yardi Systems which will allow for the dissemination of critical data between each property and the main office. The system will allow property personnel to perform functions such as resident and prospective resident mailings and verification of applications and lease expirations through the Internet, while management will also be able to access information on any property in our portfolio through the Internet.
In addition to the new systems being integrated within the Company to service residents and employees, shareholders, potential investors and other interested parties can also take advantage of the technology we've adopted through our web site at www.aecrealty.com for investor relations information. The site is continuously updated to provide current information about the Company through various sections, including: company facts; our properties; press releases; daily stock quotes; SEC filings; shareholder information; upcoming events; and what's new. The web site also serves as another source for contacting the Company to ask questions or request information, and as a link to other related Internet resources.
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