PayProp successfully defends title as Tech Company of the Year – Large, at the 2024 Global Business Tech Awards
Lettings management payment platform scoops Tech Company of the Year – Large for the second consecutive year
PayProp, the automated rental payment platform for residential letting agents, has successfully defended its title as Tech Company of the Year – Large in the 2024 Global Business Tech Awards.
The unmatched payment innovation of the internationally recognised PayProp platform once again wowed judges. Standout features include its live bank integration, smart ring-fencing of funds and automated reconciliation of client accounts, as well as its ironclad security and suite of ancillary technologies that raise the bar in financial management, transparency and control. These include live landlord and tenant dashboards and self-service, comprehensive business intelligence and client reporting, proactive accounts communication, maintenance management, and more.
The judges highlighted PayProp’s “dedication to education and networking with sector leaders” as setting the company apart as true innovators.
“Their localised strategies demonstrate a deep understanding of diverse target markets, ensuring tailored approaches for maximum impact.”
PayProp’s win at the 2024 Global Business Tech Awards comes on the heels of its previous success, having secured the same prestigious award last year, reaffirming the company’s position as a tech industry leader.
“This victory validates PayProp’s relentless pursuit of excellence and innovation,” says Neil Cobbold, Managing Director of PayProp UK.
“I’m incredibly proud of what we’ve accomplished together, and I’m excited for the journey ahead as we continue to push boundaries and make a real difference in the lettings industry.”
You can find the full list of winners here: https://globalbusinesstechawards.com/2024-winners/
Unrivalled innovation
Bank-integrated payment automation with PayProp enables letting agents to cut their portfolio administration time to a fraction, enabling them to focus on business development and managing more doors. As a result, PayProp’s UK clients grow more than 20% on average in their first full year of processing on the platform.
The platform automatically generates bulk rent and other invoices ready for approval and sending from the platform. Once payment is received, it automatically calculates commission, and allows letting agents to reconcile bulk incoming payments and pay landlords and contractors in just a couple of clicks.
Key features of the PayProp platform include:
- Automated reconciliation of rent payments to properties;
- Set-and-forget payment rules for multiple recipients across entire rental portfolios enabling bulk settlement in a few clicks;
- Strict user permissions, access control and full audit logs and client communication logs to ensure the safety of client funds;
- Arrears flagged in real time and missed payments recovery with automated reminders to late-paying tenants;
- Live management reports for letting agents to check the financial health of their portfolios and benchmark themselves against competitors;
- Comprehensive client reporting (Owner, Property and Tenant statements, portfolio reporting and live portfolio dashboards);
- A Tenant portalthat allows tenants to view their entire invoice and payment history, make fast online bank transfers and request maintenance services; and
- A fully documented application programming interface(API), which allows letting agents to access PayProp data through other PropTech solutions.
