TriArch Real Estate Group, LLC is a full service real estate investment company focused on the acquisition, management, construction and leasing of multifamily and mixed-use rental properties as well as private off-campus student housing. The New York City-based company decided to stop squandering time on unnecessary labor-intense administrative projects and instead refocus resources into revenue-generating channels.
Costly and inefficient manual mail processes
TriArch opened its doors in 2008 and quickly expanded its footprint in New York City. The young real estate company was frustrated and dissatisfied with the high number of manual-labor hours required to deliver its tenant rent statements each month. TriArch and its staff spent as many as 25 administrative hours every month preparing, formatting, printing, folding, inserting, sealing and delivering rent statements to tenants. They also had to rely on property superintendents, taking time away from important building duties and maintenance responsibilities, to travel to the main office and ensure rent bills were properly delivered to each apartment or retail tenant. Not to mention, the never-ending process of ordering all the supplies that are needed such as paper, ink, envelopes and the additional storage space required in their office to keep all these items. TriArch decided it was time to find a more efficient solution and reallocate time and financial resources toward higher value-add initiatives such as new deal sourcing, renovations, property management and leasing.
The Ideal Transformation
TriArch leaders wanted to redirect those time-consuming administrative hours to activities that would grow their real estate business. They wanted a solution that would streamline their rent billing process as well as yield an efficient and secure procedure for sending mail.
Outsourcing mail processing with Neotouch was the answer
A Captivating SaaS Solution
Neotouch was the answer. The web-based software gave TriArch the power to print their rent bills, sort, insert, seal, meter/stamp envelopes and deliver hundreds of mail pieces through the United States Postal Service® from any computer and all from a remote third party location. The company also gained the options of sending documents electronically via email, fax or text.
Tech-savvy TriArch only needed one demonstration to understand how Neotouch worked. Together, TriArch Chief Operating Officer, Ben Zises, and President, Chris DeAngelis, immediately appreciated the benefits provided and made the decision to move forward, recognizing three fundamental benefits for the company: 1) the platform’s ability to increase the efficiency of TriArch’s mail-preparation and delivery process, 2) the potential of receiving rent payments faster thanks to delivering tenant statements quicker and on a reliable schedule each month and 3) the time saving benefits of Super’s not having to travel to the main office once a month or admins having to order and store office supplies.
The ability to click a few buttons on your mouse and have hard copy paper statements delivered to hundreds of unique tenant addresses in a professionally formatted mailing envelope made Zises’ decision to integrate the software into his company’s business processes easy.
A Much More Efficient Process
TriArch implemented Neotouch one month after the initial meeting and demonstration with a Neopost USA solutions expert. The real estate company’s mailing process is now fully automated.
“We have a much more efficient document creation, management and delivery process now,” Zises says. “We export our monthly rent bills from our property management software, select ‘print with Neotouch printer’ from the PDF program and, a few mouse clicks later, it’s all mailed out. The whole process now takes less than 60 minutes.”
In addition, TriArch has reduced the business risk associated with manual rent delivery and mail processing.
The Immediate Value of Neotouch
The web-based, easy-to-learn Neotouch solution filled TriArch’s exact need. “I estimate that Neotouch has delivered savings of $2,000 per month,” Zises says. “That comes from not having to buy the supplies we used to order plus the greatest benefit of all - the opportunity cost of our staff’s time, which is now being spent on higher priority projects.”