February 3, 2003
Industry News
Technology Progress Positions Real Estate Industry on the Verge of Change
By Robert Entin, President
Integrated Business Systems
Fairfield, New Jersey
The rise of the Internet as a medium for conducting business in real estate and other industries mirrors nearly every paradigm shift in history: as with the invention of electricity, railroads and television, it garnered an initial wave of excitement, anticipation, investment and, unfortunately, a lot of wasted money. Yet assuming that the lessons learned from history are correct, we are on the verge of dramatic changes.
We at IBS witnessed significant progress in the technology sector during 2002. While the scope of these advancements may not yet be apparent to the consumer, their evidence will soon become more visible.
For example, IBS has a long history of successfully interfacing with third-party software products. Traditionally those interfaces were via batch methods, where the two products required special import and export menus. While the level of integration is high, the method is a bit awkward. An increasing number of companies are nowtransforming to embrace the new levels of functionality that the Internet enables, via web interfaces and other enhancements. In addition, a number of exciting new software entries are on the horizon, addressing opportunities created by the Internet to improve workflow and business transactions.
The ultimate goal is to provide seamless, real-time connectivity between these software components. As satellite applications, they need to connect to the enterprise accounting system, which serves as a central "hub" that facilitates this communication.
We feel strongly that the strength of the "hub" will be instrumental in future successes, and hence we at IBS have focused a lot of our energy in this area. To this end, we are currently in the midst of developing IBS 10.0i, a web browser-enabled version of the system.
IBS 10.0i is a J2EE-compliant model that adheres to industry standards. The browser-enabled product can be run as an Intranet within a firewall and corporate network, or over the Internet via an Application Service Provider (ASP) model. Its scalability can accommodate a relatively small client with one web server and one application server as well as large entities with clusters of servers. At the same time, because it can be deployed via an ASP, IBS 10.0i can also be run with no internal hardware by enterprises of all sizes.
IBS anticipates that the web project will be completed by mid 2003. One of the benefits of being an established operation, rather than a start-up, is the opportunity IBS has to begin field testing the product mid-stream. The first alpha site recently began to run IBS 10.0i, along with the current version. Several additional users will convert duringthe first six months of 2003. This early interactive use will enable IBS to enhance and rework features before the overall programming is finished.
IBS is certainly at the forefront of the industry's technological progress, and while 2003 may not yield changes of this magnitude across the industry, they will be forthcoming. We will soon see solid evidence that the real estate business is changing. During the next several years, the standards and software tools needed for a seamless, real-time world will mature and become an exciting new reality.
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Founded in 1979, Integrated Business Systems (IBS) is one of the New York Metropolitan Area's best-known and respected providers of in-house real estate computer management systems for real estate owners, developers and property managers. The company provides turnkey solutions for multi-user environments ranging from a few to hundreds of operators. Today, more than 100 of the region's most prominent real estate companies use the system, which addresses virtually all property management, accounting and construction management tasks. Every aspect of delivery - from hardware and customized software, to extensive on-site training, service, support and ongoing system updates - is provided with an extraordinary level of care. For more information, visit the web site at www.IBSRE.com.
