The self-calculating module, an add-on to the company's Web-based ePropertyTax software, gives users the ability to quickly process, filter and sort property accruals and export that information to a client's general ledger. "It creates a seamless integration between their property tax package and their accounting package. It's all done automatically," David Milner, business development director for ePropertyTax, tells GlobeSt.com.

As part of Property Tax Office's subscription-based package, which was introduced in the fall, the Web-enabled management tools can quickly process assessments, valuation, accounts payable and other critical data. Milner said the accrual module, which was quietly implemented about six months ago to a few key clients, has already won high praise from users who have found it can easily overlay property tax data for both fiscal and calendar years.

Milner said one company, with some 2,800 properties, reported back that it slashed accrual data entry time from 20 hours per week to five in a test drive of the module. "A 75% generation in efficiency from a software is a significant advantage," he noted. Although the company doesn't promise that every client will achieve that rate of efficiency, it does promise the user-friendly software will streamline property management for even the largest real estate investment firms.

Currently, ePropertyTax is used by owners of assets valued at $90 million, with 10 of the top 15 REITs in the nation signing on as clients since the company's founding in 1994 by CEO Richard Nearhood.