Ocius Announces Record Results and Accelerated Growth in Utility Expense Management Revenue for 2012

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Company outpaces growth in the multifamily industry and increases investment in its MOTUS™ mobile technology platform

"We have remained laser-focused on our customers’ success and the satisfaction of their residents, and that has allowed us to enjoy impressive growth." said James Rabinowitz, Ocius President and CEO.

Ocius, a leading provider of convergent resident billing and utility expense management services for the apartment industry, today announced results for its fiscal year 2012 ending December 31st.

The company experienced a double digit percent increase in revenue from Convergent Billing and Utility Expense Management services over the prior year. Combined revenue from all services allowed the company to deliver its seventh straight year of double digit growth.

Ocius’ multi-year investment in mobile technology enabled the release of its first mobile application based on the company’s MOTUS™ mobile technology platform. The MOTUS mobile technology platform is a service-oriented architecture that enables dynamic data access and advanced analytics for multifamily property managers. The MOTUS application framework provides secure, real-time data exchange for mobile and web resident applications by leveraging a scalable HTML5 platform.

During Q4, the company released My Resident Network mobile, an advanced mobile application for residents using iOS and Android-based smartphones. The My Resident Network mobile app lets apartment residents setup a secure mobile account and pay their rent directly from their smart phone. Residents can view their current monthly statement, make rent payments, and see their utility charges.

More 2012 highlights include:

  •     Significant investments in additional IT infrastructure to accommodate the company’s continuing growth, including new software tools.
  •     Record recoveries of utility expenses for clients with some refunds above six-figures per property.
  •     Record amounts of Vacant Unit Recovery from residents who misappropriate water and power utilities by not transferring billing into their name after move-in.
  •     Record renewal rates for resident billing and utility expense management among existing clients.

“2012 was another remarkable year for Ocius,” said James Rabinowitz, Ocius President and CEO. "We have remained laser-focused on our customers’ success and the satisfaction of their residents, and that has allowed us to enjoy impressive growth while expanding our base of clients. We will continue to invest in key technologies that our clients need to be successful in the coming mobile era.”

About Ocius
Ocius was the first company to provide convergent billing solutions to the multifamily housing industry and continues to lead this rapidly growing segment. Ocius also provides integrated Transaction Processing, Utility Expense Management, Submetering, and Resident Portal solutions. Ocius serves approximately 100 clients including 15 of the NMHC Top 50 Apartment Managers, and processes more than $2 Billion in resident billing annually. For more information visit: http://www.ocius.net or call 866-850-3500.

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John Gunn

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