We believe that by separating into two focused and better understood companies, the opportunities for both companies can be substantially enhanced and greater value could be created than under the current structure
Carrollton, TX (PRWEB) May 01, 2013
RealManage Holdings, Inc. announced that it has completed the formation of a new subsidiary, CiraConnect, LLC in a strategy to separate RealManage, LLC -- its community association management business -- from its on-demand software-as-a-service (SaaS) and central services platform, CiraConnect, LLC. The spinoff will result in two highly-focused subsidiaries under the same ownership of RealManage Holdings, Inc.
“We believe that by separating into two focused and better understood companies, the opportunities for both entities can be substantially enhanced and greater value could be created than under the current structure,” said Christopher O’Neill, CEO of RealManage Holdings, Inc. “Operating separately will allow each company to benefit from greater strategic and managerial focus. The separation will enable the continuation of growth and market leading HOA management services from RealManage while allowing strong effective focus in the respective markets of both CiraConnect and RealManage moving forward. We are excited about our ability to deepen our business and portfolios through the evolution of great systems, processes, and people.”
RealManage will continue to provide outstanding service and technology in association management directly to HOAs and condo associations, while CiraConnect will license its cloud –based SaaS platform to other management companies, developers, and self-managed communities.
The Story Behind CiraConnect
From its launch in 2004, RealManage has maintained a sharp focus on creating a distinctive advantage with its significant investment in its world-class, proprietary software and best-practices services platform that has enabled the company to grow rapidly since its founding into one of the top management companies in the U.S. After a groundswell of interest from other community association management companies in licensing the RealManage software and its on-demand “back-office” services, RealManage decided to spin off its central services group that includes all of its software, resident service center, accounting, collections, and disclosure functions into a separate operation called CiraConnect.
“The name CiraConnect has its genesis in the acronym CIRA which stands for Common Interest Realty Associations,” explained Monte Irion, Chief Process Officer of CiraConnect. “The ‘Connect’ part of the name comes from our ability to connect all constituents in the community association industry via our extensive application infrastructure from smartphones to tablets to web portals. Further, the cloud logo portrays our value proposition as a cloud-based on-demand software and services platform.”
The Transition to CiraConnect
Existing RealManage clients will not experience any disruptions in service, nor experience any change in operations other than a branding change on their portals, reports, and correspondence that originate from the newly-formed CiraConnect. New and existing RealManage clients will benefit from an even broader base of best practices and software development as CiraConnect expands its management company customer base.
CiraConnect has already signed new management company clients and has a significant sales pipeline of new management companies interested in transitioning to the CiraConnect offering that enables them to grow faster with best-in-class service at less risk and a variable cost.
“The CiraConnect platform is hands down the best in the industry and it’s a real game-changer for my management company,” said Ron Corcoran, CEO of Texas-based EHC Management. “There is no way I could afford this kind of solution on my own, but with CiraConnect, I can easily grow my business without the significant investment in software and additional, hard-to-retain staff like CPAs and software developers. And best of all they provide 5-star business support.”
RealManage is a property management company that specializes in HOA management and condominium management and manages hundreds of community associations in Arizona, California, Colorado, Florida, Louisiana, Nevada, North Carolina, and Texas, including homeowner associations (HOAs), condominium associations, cooperatives, municipal utility districts, luxury high-rises and large master-planned communities. For more information visit RealManage.com.
CiraConnect is a software-as-a-service and on-demand "back-office" services platform that serves community association management companies, self-managed associations, and community association developers in Arizona, California, Colorado, Florida, Kansas, Louisiana, Maryland, Nevada, North Carolina, Texas, and Virginia with flexible, high-quality, and comprehensive back-office services via a secure web portal and app ecosystem. For more information, visit CiraConnect.