Item: VTS
Rating: 10
Author: Jennifer Carrigan

Overall Satisfaction with VTS

Use Cases and Deployment Scope

My entire firm utilizes VTS, and we also share certain permissions in VTS to users from vendor firms. We manage a portfolio of approximately 4.5 million square feet. VTS is a central database for us for internal employees (property owner, property managers, leasing coordinators, accountants) and external vendors (investors, brokerage firms, architects). In addition to manual input of data, we synch automatically with our accounting software, Yardi.

Pros and Cons

Pros

Automatic synch with our accounting system, Yardi. This is crucial, as it means that everyone is working from the same set of information.
Ease of use, especially with speed. VTS can be as robust as you need it to be. But if you literally have 2 seconds, you can jot a quick note into a prospect's record.
Mobile app. The app is so fantastic. Being out in the field and being able to look up a stacking chart or a lease option immediately is key for me. They do this very well.

Cons

Uploading market data is difficult. They still have you email a document to them.
Fluidity of pricing. This is getting better, but it's still a bit awkward. On my end, we pay by the square foot. But we have a multi-year contract, so it's annoying to have to continually work on the billing as our portfolio trades and acquisitions are finalized.
Self help section. Emailing support is very quick and easy. Generally you get correct and helpful information very quickly. But their knowledge library is not robust enough yet.

Return on Investment

It allows a small leasing team for the owner to quickly look over the entire portfolio and approve/alter proposals with a variety of brokers in a very efficient way.
It allows us to track space encumbrances and availability easily.
We've given access to our JV partners, and that has cut the number of conference calls sucking away time from our day by about 70%.

Other Software Used

Adobe Acrobat DC, Citrix ShareFile

Likelihood to Recommend

VTS allows us to take a more holistic approach to a building. We can see the full stacking chart, see vacancies, see market demand, and see suite activity at a glance. It makes it easier for us to strategize when contemplating a tenant move, for instance. VTS is also fantastic for our investors. We don't even put together formal reports for them any longer - we just run a VTS report for them!

Comments

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VTS should stand for Virtual Time Saver!