Latest Self-Storage News, plus more…

by Jim Mullin

Veritec continues to grow its self-storage business and is excited to be expanding our work with both National Storage Affiliates as well as National Storage of Australia. National Storage Affiliates has continued to roll out our pricing analytics product to several of the Participating Regional Operators (PROs). This includes iStorage, their recent acquisition!

In other news, we’ve also recently completed a revenue management assessment with Virgin Trains in the UK. The team on this project included Paula, Michael, and Warren.

Finally, we’d like to officially welcome James Kosic to Veritec. James has been working with us as a contractor for the last couple years and is now a full time member of the team. Several of us also worked in “previous lives” with James at Decision Focus/Talus.

Please contact us if you’d like more information.

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Value Pricing and More

by Jim Mullin

Veritec’s SaaS solution for Self-Storage Pricing and Revenue Management continues to evolve. The base product has now been updated with several new features and functions to make setting street rates and managing existing customer rents even more effective and efficient. Our user base now includes a range of self-storage firms from large REITs to smaller portfolios, some with less than 10 stores. In addition, the value pricing module, pioneered in conjunction with StorageMart, has now been piloted and tested with an additional company and the initial results have been phenomenal. We expect to be able to make this module of the software available more broadly over the next quarter.

In addition to our continued work in self-storage, we’ve also kept busy with pricing analytics projects in other industries, including our first in the health care industry in over a decade.

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Self-Storage SaaS

by Jim Mullin

We are excited to update the status of our pricing analytics software for self-storage: We are now integrated with multiple property management systems! As such, we are now able to offer our state-of-the-art analytics to the self-storage industry on a Software-as-a-Service subscription basis, which may be appropriate for many mid-sized firms. Several companies have already signed up.

We also continue to enhance our patent-pending Value Pricing techniques, which include dynamic software as well as operational processes to support our innovative approach to pricing differentiation. We continue to work closely with StorageMart to enhance their Value Pricing implementation, as well as collaborate with them on operational training, best practices, and insights for others interested in taking advantage of these opportunities.

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