PayProp has been named Tech Company of the Year – Large at the Global Business Tech Awards 2023.
The annual Global Business Tech Awards recognise and celebrate outstanding technology developments from around the world in 28 categories – from entrepreneurial startups to recognised market leaders.
As the recipient of the Tech Company of the Year – Large award, PayProp set a steep benchmark for other entrants.
To qualify, nominees in this category need an annual turnover of over £50m/$67m. PayProp cleared this comfortably in its fiscal year 2022–2023, processing £2.2bn in rental payments for more than 260,000 active tenancies worldwide.
According to the Awards’ judging panel of tech leaders, PayProp stood out for its unique and robust rental payment automation, rapid growth in the UK, South Africa and North America, and cutting-edge platform features including its core payment service and other features like its free maintenance ticketing system.
Judges called PayProp “impressive and innovative”, praising the company’s attentiveness to clients’ needs and its ability to come up with novel solutions.
“This title represents a culmination of 19 years of hard work, passion and pushing boundaries,” says Johannes Van Eeden, CEO of PayProp. “I want to thank every member of PayProp’s talented workforce, whose unwavering dedication has driven our success.”
Winners were announced via a virtual ceremony on 11 May. Visit https://globalbusinesstechawards.com to see the full list of 2023 Global Business Tech Awards winners, and view the judge's commendation of PayProp below.
Automating rental payments with PayProp enables letting agents to spend more time focusing on business development and manage more rental properties in less time. The platform saves property managers the hassle of manual payment administration by automatically sending invoices, reconciling incoming payments, calculating commission and paying owners and contractors – all on the same day the rent comes in.
Key features of the PayProp platform include:
- Direct bank integration with automated reconciliation of payments to properties as well as full audit logs;
- Arrears flagged in real time and with legally compliant reminders that can be set up to go out automatically to late-paying tenants;
- An Owner app that enables owners to view always accurate account totals with the most up-to-date status of their portfolio's balance;
- A Tenant portal that allows tenants to view their entire invoice and payment history, make instant online bank transfers, and request maintenance services;
- Automatically generated management reports that allow property professionals to check the health of their portfolios in real time and compare themselves to other local businesses; and
- An application programming interface (API), which allows property managers to access PayProp data through other PropTech solutions.