geoAMPS Press Release

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Over $1.1 billion in payments processed with geoAMPS software

geoAMPS’ clients report processing combined payments of more than $1.1 billion by utilizing geoAMPS software products. geoAMPS is only in its third year of operation.
 
Making ongoing payments on right of way, rent, lease and royalty agreements is an essential part of the operation of land service, pipeline, alternative energy, transportation and utility projects, among others. geoAMPS, a technology company located in the Columbus, OH, area, provides software products which, among other essential capabilities, enhance efficiency in processing those payments. 
 
“We are pleased that our customers have utilized geoAMPS technology to complete such a large number of transactions in a relatively short period of time,” Yogesh Khandelwal, President and Chief Executive Officer of geoAMPS, said. “It is rewarding for the entire geoAMPS team that our customers are experiencing efficiencies through the use of our software.”
Due to the many variables associated with land ownership and payments, meeting ongoing payment obligations for a project can be complex and require a great deal with organizational resources.
 
To meet these complex and changing conditions, organizations resort to various means with varying degrees of success. Many work from spreadsheets, while some still work from paper records. In either case, information must be input manually through each payment cycle. That is a time-consuming process. In addition, many calculations must be done quickly, which increase the chance of error.
 
geoAMPS software automates the process of meeting ongoing payments. The software includes lease management, automatic reminders, a payment tracker and scheduler capabilities. It automates development, construction, royalty and other types of payments based on complex calculations and varied schedules.
 
“It is gratifying that our customers are experiencing substantial cost savings through geoAMPS software,” Yogesh said.  “That kind of measurable return on investment can translate into improved profit margins and the incentive to embark on a greater number of projects.”
 
He said that geoAMPS is continually improving its payments/financials product module.
 
Dan Liggett is Communications and Public Relations Manager for geoAMPS, a technology company in the Columbus, OH, area that specializes in software solutions to manage land rights and infrastructure assets. For more information, call 614-389-4871 or visit www.geoamps.com.
 
This article also appears on:
Renewable Energy World

Alternative Energy eMagazine
New Technology Magazine

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