Accruit Holdings LLC separates Qualified Intermediary Services and Technology Operations by launching Accruit Technologies LLC.
DENVER, Aug. 9, 2022 /PRNewswire/ -- Accruit Holdings LLC launched Accruit Technologies LLC to focus on the further development and growth of Exchange Manager ProSM, their patented 1031 exchange software. Originally developed for internal use by Accruit LLC, an independent Qualified Intermediary, Exchange Manager ProSM standardizes and automates the workflow improving efficiencies and increasing client satisfaction.
In 2021, the Exchange Manager ProSM Software as a Service (SaaS) offering became available to other Qualified Intermediaries and organizations that advise on 1031 exchanges. To date Exchange Manager ProSM is licensed by numerous third parties and has processed over 10,000 exchanges.
The formation of Accruit Technologies allows further separation of the 1031 exchange software from the Qualified Intermediary services. It also paves a clear path for initiatives in the Accruit Technology pipeline. Earlier this year, Mark Mayfield, Vice-president of Service Development and Delivery, initiated steps to conduct a SOC 2 Type 2 audit under the technology division. The company expects to finalize the first phase of this process by Q4.
"Accruit Technologies is an exciting step for our organization. It allows our SaaS offering, Exchange Manager ProSM, to develop and expand separately from our Qualified Intermediary practice. Exchange Manager ProSM is revolutionizing the 1031 exchange industry, and we believe it is only just the beginning," said Brent Abrahm, CEO of Accruit Holdings LLC.
Accruit Technologies developed Exchange Manager ProSM, a proprietary, online software application that makes administering 1031 exchanges safe, secure, and simple. Exchange Manager ProSM was designed to automate routine functions of Qualified Intermediaries including online client onboarding, document creation and distribution, and automatic deadline reminders and notifications.
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SOURCE Accruit Technologies LLC