Anant Yardi, Robert Teel and Akshai Rao
CEO; president of global solutions; and president of residential at Yardi Systems
When Yardi Systems launched in 1984, proptech as we know it didn’t exist. Founder Anant Yardi built his first software product on an Apple IIe. Yet, in the 40 years since, the property management software provider has not only kept up with an ever-changing industry, but has also thrived in it.
Even with more than 40 offices spread across four continents and 12 billion square feet of commercial properties managed on Yardi’s platforms, the privately-owned company has managed to retain a customer-focused, family-style workplace culture and the plucky spirit of a startup, said Robert Teel. Those values have helped Yardi stand apart, Teel said, and it may also explain the more than 90 percent retention rate of its employees. Teel himself has been at Yardi since 2003, while Akshai Rao joined in 2013.
Yardi’s flagship product is Voyager, a property management platform used for myriad purposes, including deal and asset management, accounting, marketing and leasing. Yardi Breeze is a simpler platform for smaller portfolios or more streamlined management styles.
Voyager 8, the newest version of Voyager, was announced in early September and is currently in limited release, with a full release coming next year. Along with an overhauled user interface, Voyager 8 includes Voyager Virtuoso, Yardi’s new AI system that provides customers with a virtual assistant, sophisticated chatbots and improved channels for work orders.
The embrace of AI demonstrates Yardi’s drive to remain an industry leader and to ultimately better serve its customers, Teel said.
“We view artificial intelligence and the Virtuoso engine as a 10-year time horizon,” Teel said. “Dot-com and the introduction of the web completely transformed our technology. … The cloud was another major technical innovation that made us rethink everything. But I think AI has the possibility to surpass both of them in terms of impact. We see AI as a framework and foundational enhancement, not just a point solution to deliver next year.”
