Portals: the gateway to superior service and increased marketability.

With technology at the forefront of real estate, the amount of accessibility to business information continues to grow exponentially. The profound impact of instant access to data is clear to those managing a real estate business, but how does this access reach beyond the boundaries of the real estate company and into the market?

As it has become necessary to provide executives, advisors and managers with automated, real-time access and reports, such access is also necessary for the most important person in the business--the customer. In the same way the CEO, CFO or fund advisor may require real-time key performance indicators, financials and performance returns, tenants will also require the same kind of instant access to these reports. It is important to keep in mind that these individuals already do business online--such as booking travel, purchasing merchandise, paying bills and even managing their stock portfolio. It is only a matter of time before they will demand online access to all their business information, which will require dynamic integration with their real estate database.

IPC REIT ADOPTS PORTALS

IPC Real Estate Holdings, a REIT with portfolio in both the U.S. and Canada, recognizes that by providing online access to tenants they will boost their level of service and marketability. To do so, they have adopted portal technology which enables them to provide a variety of tenant services and functions through a web interface. According to Eric Oakley, the IT Manager at IPC, "The idea of having these portals is to add value for our tenants and staff by improving communication, and making access to information and forms easy and fast. This solution saves everyone time and keeps people informed."

Using portals can result in significant cost savings by reducing--and hopefully eliminating--paper statements as a company moves toward electronic statements, and direct automated e-mail for tenant reminders and notifications. "Work order integration enhances our customer service by notifying our tenants immediately as their work orders are closed and their issues have been resolved," Oakley said.

Demonstrating real thought leadership, IPC REIT will also use portals in a way unique to the industry. The company has asked Yardi Systems to develop a highly sophisticated emergency portal with message boards, RSS feeds from news bureaus and government agencies, and real-time mapping functionality showing key points in a building and the surrounding area where services are available (such as food, water and medical treatment) in the event of an emergency.

"Using our experience during Hurricane Katrina with the 39-story Energy Centre office building in New Orleans, we are exploring ways to use an online portal for emergency communications to our tenants and staff in the event of a disaster," Oakley explained.

VALUE OF PORTALS

A portal is a seamless conduit between a Web site and the operating database that provides secure access to information, applications, forms and communication tools in order to automate document management and electronic transactions. Online, tenants can view ledgers, input monthly sales, pay rent, and make service requests; vendors can directly submit invoices for payment. All information gathered from these users through the portal is entered directly into the operating database and processed in real time.

Because it is essentially part of a Web site, portals also offer the ability to dynamically market properties by using the operating data to show buildings and available space, provide square footage and availability, and allow prospects to take virtual tours of the property and book appointments with leasing agents. As these types of administrative tasks are automated, managers and staff have more time to focus on the core real estate business.

Like IPC REIT, many savvy managers are implementing portals and realizing their significant value in streamlining business operations and strengthening customer relations. These early adopters understand the competitive edge they will gain by utilizing such automation technology to provide a higher level of service to their customers, and the resulting return on investment.

Brad Setser, Vice President of Marketing

Brad joined Yardi Systems in 2002. He first worked in Client Services, focusing primarily on implementations and technical support, as well as product specialization. In 2004, Brad took on the role of Director of Commercial Client Services, soon followed by a change in focus starting as Director of Sales Operations and, most recently, to his current role as Vice President of Marketing. Brad came to Yardi Systems from the entertainment industry, where he served as General Manager for a professional production company in Southern California. He holds a masters degree from New York University.

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Lee Ann Stiff, Marketing Writer

Lee Ann joined the Corporate Communications team at Yardi Systems in 2007. As a writer and editor she has worked in advertising, marketing, public relations and content development. She has contributed to a variety of online and print publications, and holds a masters degree from Yale University.

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About Yardi Systems

Yardi Systems, Inc. is the global leader in the design, development and support of integrated Asset and Property Management software for organizations of all sizes. Our client-driven software serves more than 15,000 businesses, corporations and government agencies, representing more than 5 billion square-feet of commercial space and 5 million residential units globally.

For more information about Yardi products and services, visit www.yardi.com.

by Lee Ann Stiff and Bradley Setser, Yardi Systems

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