Ocius Reports Record Revenue and Doubling of Submetering Business

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Company again outpaces growth in the multifamily industry, increases investment in mobile technology and property management platform integration.

Ocius, a leading provider of multifamily resident billing and utility invoice processing services for the apartment industry, today announced results for its fiscal year 2013 ending December 31st.

The company experienced a double digit percent increase in revenue over the prior year from Convergent Resident Billing, Utility Expense Management, and Transaction Processing for apartment residents. Combined revenue from all services allowed the company to deliver its eighth straight year of double digit growth.

Ocius enjoyed growth in excess of 100% in its submetering business driven by industry-leading service, competitive pricing, and sustained new construction in the multifamily segment. The fundamentals in the multifamily market remained strong throughout 2013 and many of Ocius’ largest clients increased their volume of new construction projects.

During Q4, the company released an updated version of its award-winning My Resident Network℠ mobile app. The iOS and Android-compatible mobile app allows apartment residents to see live-balances and pay rent directly from their smart phone. Residents can also view their monthly statements, see utility charges, and enter a service request.

More 2013 highlights include:

  •     Delivered a record amount of ancillary income to clients.
  •     Added two additional major clients to bring the company total to 17 of the NMHC Top 50 Apartment Managers.
  •     Increased the amount of Vacant Unit Recovery from residents who misappropriate power and water utilities by not transferring billing into the resident name after move-in.
  •     Won multiple editorial awards including the Multi-Housing News 2013 Technology Choice Award in three categories: Mobile App, Resident Portals, and Invoice Processing & Payment.
  •     Made additional investments in IT infrastructure to accommodate the company's continuing growth, including enhanced security measures and custom development to support the broadest number of property management platforms.

"We are delighted to have helped our clients generate record results in 2013," said James Rabinowitz, Ocius President and CEO. "It meant that we had a great year too. We succeed by delivering tangible benefits and positive increases in ROI for our clients, and this has helped us maintain our incredible rate of growth.”

About Ocius:
Ocius invented the process of convergent resident billing thirteen years ago and continues to be the innovation leader in this rapidly growing segment. Ocius also provides Utility Expense Management, Transaction Processing, Submetering, and Resident Portal solutions that help clients exceed their goals and delight their residents. Ocius serves approximately 150 leading property management companies including 17 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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