Debt Logic is Now Pay Ready
Pay Ready eases the process of revenue management for property managers with its easy-to-use software suite
Pay Ready Inc., a cloud based software platform where clients can manage and track everything debt related in one place, announced its rebrand in the light of their expansion into the New Year. Recognizing that there are major gaps in communication, technology, and trust from the time a file is determined to be delinquent throughout the collection process, Pay Ready built an intelligent system that deploys ongoing automation and statistically based solutions to improve collection performance while eliminating friction. Pay Ready’s capabilities span from Accounts Receivable (AR) management, resident payments and Customer Relation Management (RM) engagement.
Pay Ready’s remote software allows property managers to better view, engage and communicate with their residents, employees and vendors to achieve control over their total balance sheet. Its user-friendly management and services software comes pre-integrated and affordable for companies of all sizes.
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“For us, integrating resident support, payments and accounting is critical to providing the best experience for associates and our residents,” said Rachel Davidson, Executive Vice President at Roscoe Property Management. “That’s why my first initiative on joining Roscoe was to implement Pay Ready within 90 days. Although we have just rolled Pay Ready out, I anticipate our team will see the same improvements to income, operating margin, and resident satisfaction that I have seen with Pay Ready before.”
Davidson, who previously served as Chief Administration Officer at Alliance Residential Companies, felt her trust in Pay Ready was well-earned. “We were an early adopter for Pay Ready’s platform software service in 2016, and as Alliance grew, Pay Ready developed the features and personalized services we needed to transform our organization.”
“Pay Ready software increased Alliance’s former resident collection rates by over 1000 basis points and reduced write-offs by 34%,” Davidson said. “We are excited to be seeing these same results starting to pan out at Roscoe, despite differences in portfolio and organization structure. Pay Ready is adaptable because they have great listeners. They’ve always been very open to feedback and refined their platform and processes quickly where it makes sense.”
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Pay Ready’s growing suite of products include:
- Pay Ready Exchange: secure online data exchange, where property managers can sync resident files in their accounting software to a virtual office in Pay Ready, for a global view and management of AR revenue, payments and resident engagement campaigns.
- Portable Payments Ready: mobile-first, device agnostic online payments processing with seamless integration into Pay Ready’s multi-experience resident touchpoints and third-party enterprise software. Supports resident payments through move-out and beyond.
- Team Ready: a multi-experience resident contact center and software helpdesk on the cloud, which allows property managers to collaborate and support their residents through email, phone, texts, and web portals.
- CRM Ready: a full featured CRM bundled with Pay Ready’s multi-experience resident touchpoints and unified user experience, for engagement teams handling high-velocity contacts.
- Pay Ready Marketplace: an online B2B marketplace and vendor/revenue management solution, to address the growing complexity of property management AR needs through a simple and powerful interface. Pay Ready Marketplace instantly connects property manager’s accounts with registered service vendors.
“In 2016, we started Debt Logic with a dream that a smart algorithm—the ‘logic’ in our company name—could make a dent in the world of post-resident receivables,” said Lynn Musil, CEO & Founder of Pay Ready. “Our customers quickly saw proof of concept, and our little innovation sparked big demand for more. As we expand on our original vision and build out integrated products, we believe this is the right time to launch a new brand that helps us to tell our unfolding story.”
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