Devon Storage Managers Generate Huge Spike in Automated Collections
PHOENIX, ARIZONA – November 18th, 2016 – Today OpenTech Alliance, a leading provider of self-storage technology solutions, announced that Devon Self Storage, a Top Operator in the Storage industry, reported a significant increase in tenant usage of XpressCollect, a SaaS product that collects late rent payments automatically.
With over 40 facilities that span across 15 states, Jim Mooney (Director of Operations at Devon) transitioned the entire portfolio from a manual calling collection process, to a cloud-based automated collection system, by implementing XpressCollect in January of 2016.
From the onset, the results were encouraging. In February of 2016, the automated service collected a total of $36,161 in late payments throughout the portfolio. Since then, the solution has produced even better. In September of 2016, the automated service collected a total of $92,817 late payments throughout the portfolio. Tenant usage increased over 200% in 2016. Even more amazingly, $50,352 in late payments were collected in 1 day on September 5th – Labor Day, when all Devon stores were closed.
When asked what he liked the most about the decision to automate collections, Mooney answered with a question, “How long would it take for you to call 125 people? Once twice, or maybe five times? Now multiply that by 40+ managers. The future of storage collections is all about our managers. And that decision has reduced a large portion of our manual collection calls. Through these efficiencies, our managers have been able to focus more on sales and operations.”
Devon has triggered XpressCollect to send friendly payment reminders via text or email when accounts are 5, 9 & 15 days late. Managers never have to worry about scheduling collections, or sending reminders. Once the system is setup, they never have to touch it again. When reminders are sent, tenants make their payment thru the service by pushing a few buttons on their phone to complete their payment through XpressPay, OpenTech’s pay-by-phone service, or they simply click to make their payment through their phone. Devon collection reports also highlighted that even though the last payment reminder is sent to accounts that remain unpaid on the 15th, thousands of dollars are still collected thru XpressCollect by month end.
Mooney added, “Tenants are unpredictable, and will pay when they can pay. But now, we are far more consistent in reaching past due tenants. The solution delivers everything needed to drive late rent payments automatically, and into the channels our tenants prefer, whether it is by phone, email, or text. As more owners, operators, and managers look for easier solutions to streamline collections, XpressCollect will offload manual collection tasks at much lower costs than doing it manually.”
Why We Do What We Do: Every day, OpenTech Alliance connects thousands of tenants with storage companies around the world. With over 4,000 daily transactions, the companies automated products and services helped Storage Managers move-in over 130,000 tenants in 2015, generating over 140 million dollars in new sales revenue alone. OpenTech also owns a majority stake in Storage Treasures, LLC and operates www.storagetreasures.com, the largest online and onsite self-storage auction market place in the industry with over 900,000 bidders, 6,500 self-storage facilities and over 140,000 auctions held in 2015. OpenTech, Making Self-Storage Easier, So More People will Use It. For additional information, please visit our website www.opentechalliance.com or call an OpenTech Business Development Manager at (602) 749-9370.
Mike Sawyer, Director of Marketing
OpenTech Alliance, Inc.
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