Vertically focused payment facilitators are known for developing comprehensive software solutions geared to the needs of their target markets, either by building them in-house or acquiring companies that offer the complementary services they need.
To that end, payment facilitator RealPage announced this week that it has acquired SimpleBills, which provides utility management services within the student housing market. This acquisition follows closely on the announcement by PF Toast last week that it had acquired a restaurant HR software company.
RealPage is a software provider for the real estate industry. SimpleBills works directly with students to bill and collect utility payments, simplifying utility payment management for both students and property managers.
According to a press release, the SimpleBills service provides students with only their portion of the utility bill. The service enables simpler splitting of bills among roommates, the company said. It also eliminates the need for students to pay deposits and setup fees to utility providers.
“The acquisition of SimpleBills is a mark of our commitment to providing complete energy management solutions to our clients. It is also a pivotal, winning moment. We’re adding game-changing power to our Student offerings, giving our clients the ability to fully outsource their utility needs. There is so much excitement around SimpleBills’ capabilities,” Jason Lindwall, SVP for RealPage Spend Management, said in the release.
The company plans to incorporate the SimpleBills capability into its RealPage Utility Management product suite, enabling the company to offer utility billing to students as well as other markets such as multifamily, single family, HOA and senior living.
Last week, PF Toast said that it has acquired StratEx, which provides HR and payroll software for restaurants.
“At Toast, we know that for a restaurant to be successful it often starts with recruiting and retaining a great team, yet many restaurants wrestle with employee turnover that can exceed 70 percent,” Chris Comparato, CEO of Toast, said in a press release.
“By adding StratEx to the Toast Platform, we can better support restaurants of all sizes in simplifying HR, payroll, and talent management on a platform that works seamlessly with Toast and our technology partner ecosystem.”
Toast has added the StratEx solution to its Toast Payroll & Team Management HR product suite, which helps restaurants with employee onboarding, tracking of employee hours across locations, payroll and compliance.