The platform replaces MYOB which is used for general ledger in Australia, and Intuit MRI, which is used in CLV’s United States operation.
Rothwell earmarked a revamp for other core systems, including CLV’s student management and human resources applications.
Rothwell said that SaaS applications like NetSuite were a good fit for the business.
“Infrastructure is a huge issue for us,” said Rothwell.
“We didn’t want to invest our limited funds in hardware and we simply don’t have the resources to maintain that type of model.”
The Campus Living Villages Fund relies on superannuation funds to provide the majority of capital for its developments. It currently claims to have assets on its books worth around US$1 billion.
It is managed by Campus Living Funds Management, a wholly-owned subsidiary of Transfield Holdings.
CLV said its business model had enabled it to respond to market opportunities despite the turmoil in financial markets.
“We’ve financed four deals in Australia in the recent crisis,” said Rothwell.
“We continue to have strong support from super funds because student accommodation is a stable class of infrastructure that produces long-term wealth creation.”
The company said it manages some 50,000 beds in Australia, New Zealand, the U.S. and United Kingdom.
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