Veritec Self Storage Revenue Management System
Veritec Revenue Management System—VRMS—is a powerful pricing solution for the self-storage operator, designed with you and your customers in mind. Easy-to-use. Effective. Comprehensive.
Grow Your Company’s Revenues
Companies often focus on operational efficiencies and cost savings. But what about the top line? Increasing the top line contributes to increased profits, and even to your company valuation in the long term. Yet there is so much more.
- Achieve top-line revenue increases of 9% to 14%, or even more. One of our three modules, Value Pricing, has been documented to increase move-in revenues by up to 10%. For new stores in lease-up mode, the incremental revenues can be much greater!
- Increase staff utilization. Pricing Life Cycle Management built-in – Your team treats pricing as a normal business process, not a one-time event. No disruptive meetings to determine the best price.
- Never lose sight of your customer. Your customer’s life cycle, including attracting, closing, and retaining them, requires very specific and different pricing strategies. VRMS utilizes unique and specialized methods for each phase, like competitive pricing feeds to dynamic value pricing within like storage units. Together, these methods work to sustainably increase revenues for you.
- No technology write-offs: Pay as you go in a convenient, cloud-based solution with no long-term commitment. Subscribe to VRMS on a monthly basis. It’s that simple.
We’ve been using VRMS for several years. It has given us the comprehensive information we need to make better pricing decisions and we’ve seen our year-over-year revenues increase far faster than we anticipated. The results to our top line have been nothing short of phenomenal!
Veritec’s Value Pricing program is truly a game-changer for us.
President and Chief Executive Officer
Investment Real Estate, LLC
Compete Much Larger Than You Really Are
Larger competitors have so much more resources, especially when it comes to investing in technology. Achieve the same level of technological capability as they do.
- Access to world-class data-driven technologies with no up front development costs.
- No Hardware or Software Maintenance. No need to procure and maintain software or hardware. No need to dedicate valuable and skilled IT staff to run your pricing system. Our Cloud-based solution means we completely enhance, develop, and maintain VRMS, while securely maintaining your data. We regularly add new features to make it even more powerful. Our solution allows you to focus on your business, not ours.
- Scalable solution that grows as you grow. Whether you have a few, or a few hundred or more stores, our software fits. That’s because today, right now, we have customers that range from two to many hundreds of stores, and we help with their pricing every day, for every store.
- Manage tiered, convenience pricing automatically. VRMS Value Pricing (patent pending) provides an easy way for you to automatically and dynamically differentiate and optimize your pricing for similar units to maximize your market potential and effectively outsmart the competition, while still allowing your customers to pick their preferred units and price points.
Be Faster, More Efficient. Do More With What You Have.
Your time is limited. Yet a pricing discipline is so important to your top line. With VRMS, you can achieve that, and more.
- Easy to Use Sophistication that saves time. Our intuitive interface has drawn rave reviews! Be an expert without a long learning curve. Despite being easy to use, you have access to comprehensive rich, actionable intelligence at your fingertips. Access data based on pricing criteria you specify to better drill down on the things you need.
- Let VRMS show you where pricing changes are most needed across your entire portfolio! Export to a spreadsheet for further analysis. Use the included workflow functionality that complements and supports your business processes.
- Seamless PMS Integration NOW with SiteLink and Yardi Store Enterprise™ (formerly Centershift). Use VRMS to easily manage your prices across your entire portfolio. Data is seamlessly and automatically imported into VRMS daily. No importing data. No exporting data. No complex data mapping. No expensive programming.
- Bottom line: One person can now actively review, manage, analyze, and update the prices at up to 100 stores. You get to focus on your business, easily and efficiently managing your prices across your entire portfolio.
Make More Confident, Fact-Based Pricing Decisions
It can be difficult and uncomfortable when setting prices, especially in a highly competitive market. At the same time, in less competitive markets, are you leaving money on the table?
- Time-tested, market validated pricing system at your disposal. An industry leader, VRMS serves over 3,500 stores run by over 65 self-storage operators, small to large, worldwide. Our solution quickly won approval among operators as it provides guidance for setting move-in rates as well as rent increases, in a comprehensive, yet easy to implement manner.
- Perfect hybrid human-technology balance. We use a combination of predictive analytics and our unique Multiple Signal Modeling (MSM) technology to guide you to an “optimal” price now and over time. Our modeling technology automatically adapts to changes in the business environment. Our advanced analytics have been specifically designed and fine-tuned for self-storage. They have been used for years by some of the largest self-storage operators.
- Deep-dive into easily accessible pricing data for rigorous analysis and “What If” scenarios to be more forward-looking.