INVISIBOARD – Press Release

Lockwise Press Releases

Smart Lock Entry Management System

Unlocking the Future of Property Preservation

As an industry, property preservation is focused on providing the services to maintain and protect assets. To date, the industry has not really explored how software for the "Internet of Things" (IoT) can add a new dimension of control and help reduce costs. Is the industry missing out on an opportunity? Can the IoT help industry professionals do a better job with property preservation management?

The answer is yes. The good news is, there is a solution in the entry management space.

First, let’s look at the problems with traditional keys. They can be easily lost or copied, and rekeying costs money. What if there was a software that, if paired with a Bluetooth lock device, could ensure that the investor, servicer and property owner all know who enters the property, when they do so, and how long they remain inside?

Imagine a digital keyless entry management system that enhances security and simplifies the management of access to properties. The good news is that digital entry management has arrived, allowing for a "keyless" environment. This technology eliminates issues with traditional keys being lost or duplicated, reduces the potential for theft and vandalism, and provides an audit trail of property entry.

Many properties in default are either without power or do not have Wi-Fi connectivity. This is where a Bluetooth lock becomes important. Bluetooth is cost-effective, provides a stable environment, is simple to deploy and requires neither power nor a Wi-Fi hub—nor the associated maintenance. Furthermore, some of the locks on the market require proximity and a physical touch to awaken. This is critical for security. The software also encrypts all communication and the battery life can extend to approximately two years.

The lock and associated software are relatively easy to install and set up. Software with a web-based console facilitates entry management to numerous properties and allows for administration from any location. The software is built to manage from one to several thousand properties. For small quantities, the mobile app is ideal, and for large property volumes, the web-based management console has a sophisticated hierarchy, allowing users to decide how they want the day-to-day control and reporting established. The software informs users of the remaining estimated battery life and will send warnings when the power drops to 30 percent and below, providing ample time to change the batteries (which is a two-minute process).

Ownership can also be transferred in a matter of seconds, there is no more rekeying required, and all previous entry permissions can be certified as wiped from the device. In the event a user does not have a working smartphone, the lock software can accept an authorized RFID or fob. Just as easily as you can grant entry to a property, you can revoke it. Simply revoke the access permission from within the software and ability to enter a property will no longer be available. You can restrict date and time either on a regular schedule or as a one-off event.

In the unlikely event that a smart lock is installed on the wrong property or there is a need to give access to an owner who may have been in payment arrears and is now current, within a few minutes, assuming the owner can prove their identity, a link can be sent to the individual’s smartphone to allow entry.

Nothing screams "vacant" more than a lockbox. Lockboxes can draw the attention of the wrong crowd, often leading to vandalism and neighborhood blight. Smart locks powered with entry management software add to the curb appeal, do not attract unwanted attention and alert you when they are opened. We are looking forward to seeing the industry adopt the technology, adding greater control and avoiding rekey costs.

Original Article: DS News

Cyprexx, Prempoint Launch Innovative Smart Lock Entry Management System

BRANDON, Fla.--(BUSINESS WIRE)--Cyprexx Services, LLC in partnership with Prempoint Inc. will be launching a new entry management system in Fall 2017. Lockwise™ is a new keyless entry management system that allows property access to be granted digitally. This device syncs with the Prempoint® app, allowing property managers to control access from virtually anywhere using an online dashboard. This innovative technology eliminates the need for traditional key-based locks that typically require a complicated key sign in and out process. Keys provided directly by property managers or via lockboxes present a number of security concerns including key theft, key loss, inaccurate access codes or unauthorized key duplication. By installing Lockwise once, the recurring monetary and time costs of rekeying can be completely eliminated. Lockwise devices require no special equipment for installation and provide a more secure, flexible, manageable and aesthetically pleasing solution to securing properties.

This partnership with Cyprexx is giving us a huge opportunity to help the property management and realty industries. It’s an exciting time for both companies, but I’m even more excited for our customers... No more lockboxes. No more traditional keys. No more pin codes. All that our customers need is Prempoint and a ‘Lockwise’ Bluetooth lock from Cyprexx. They can manage keyless entry to hundreds even thousands of properties from anywhere at anytime.

by Matthew Hartley, CEO and Co-Founder of Prempoint Inc.

Lockwise devices, when paired with an authorized user via Prempoint, allows property managers to securely control property entry without the need for traditional rekey or being physically present to grant access. Cyprexx has created an inventive and adaptable solution by providing the ability to remove or add authorized users as needed, from anywhere. At any time, property managers will have the ability to grant property access to maintenance vendors, tenants and inspectors. Additionally, relevant documents such as work orders, lease agreements and photos can be securely shared using the encrypted Prempoint system.

"We are delighted to be in partnership with Prempoint. When first introduced to their technology we immediately were encouraged to inject capital to help them develop innovative solutions that we can bring to market. Combined with our Bluetooth lock technology ‘Lockwise’ we see this unique solution as an enabler for Cyprexx to enter the Property Management space. In addition, the control of who gets access, when they get access and the reporting capability of this technology in eliminating the many issues of keys in the Defaults space is exciting. The added control to the access of clients’ properties is powerful." -Ed Mullen, CEO of Cyprexx Services.

Matthew Hartley, CEO and co-founder of Prempoint Inc. adds, "This partnership with Cyprexx is giving us a huge opportunity to help the property management and realty industries. It’s an exciting time for both companies, but I’m even more excited for our customers. The investment we received is being put towards revolutionizing how property managers and realtors will manage access to properties. No more lockboxes. No more traditional keys. No more pin codes. All that our customers need is Prempoint and a ‘Lockwise’ Bluetooth lock from Cyprexx. They can manage keyless entry to hundreds even thousands of properties from anywhere at anytime. Our goal is to empower our customers, and lower their costs, with the elegance of simplicity!"

The Lockwise entry management system provides a cost-effective and comprehensive securing solution by providing easy and secure access while increasing connectivity between all parties. Lockwise devices are available in two finishes: Aged Bronze and Satin Nickel. To learn more about the Lockwise product please visit Lockwise

About Prempoint Inc.

Prempoint is the developer of an all-in-one keyless entry system where property managers and realtors can automate, control, and monitor property access from virtually anywhere. Access management for properties using Bluetooth-enabled locks is just the beginning for Prempoint. In the future, any device connected via the Internet of Things (IoT), like appliances, vehicles and more, will be managed via the Prempoint app. For more, visit Prempoint.

Original Article: Business Wire