So many mistakes can happen when handling money manually. The slightest difference, in the amount, or a number out of place can have huge effect on the overall spreadsheet. At DDR Corp. Tenants can make their payments online and track reports though SnapPay RE.
According to Kevin Moss, DDR’s Chief Information Officer, there is a growing amount of retail landlords who are now using online portals to acquire rent payments and make sales reporting more effective. In January 2015 DDR began to experiment with SnapPay RE and saw a great opportunity.
This platform is designed to combine with Oracles JD Edwards EnterpriseOne Software. By enabling DDR to use this new portal, they are able to track tenant billing in real time. Tenants are able to log on and view how much rent they owe, as well as other charges such as maintenance fees, insurance premiums, and real estate taxes. DDR has seen continual adoption within 30 percent participation across overall portfolio. Retailers like that SnapPay are easy to use, efficient and make life easier.
“High-tech portal helps DDR Tenants Track Rent.” Shopping Centers Today Week, Retail Real Estate News. ICSC. N.p. 14 July 2016. Web. 28 July 2016. http://www.icsc.org/sct/newsletters/article/high-tech-portal-helps-ddr-tenants-track-rent/