Dallas, TX - November 5, 2002 - Two of the real estate industry's most recognized names, AMB Property Corporation (NYSE:AMB) and L&B Realty Advisors, have entered into separate agreements for the use of Realm Business Solutions' CTI property management solution, each for terms of seven years. Realm will be deploying CTI as an ASP (application service provider) for both companies, enabling their employees, partners and customers to connect to the system over the Internet, reducing hardware and support costs, streamlining the flow of information and improving operational efficiencies across their organizations.
"Considering the success that we've had over the last three years with Realm and the CTI ASP, we feel that this agreement is a natural extension of our relationship," commented Wayne Pryor, Chief Information Officer at AMB. "The Realm team is clearly at the forefront of their industry and has demonstrated a strong understanding of our business needs and objectives. With this partnership one of our goals is to contribute to the future development of CTI, particularly for international requirements."
"L&B has built our business on a reputation of superior customer service and our clients were our main priority in selecting a property management solution. Realm's CTI offered the best overall package to enhance the service we provide to our customers," noted John Gerdes, Vice President of Asset Management for L&B. "CTI's comprehensive reporting and portfolio roll-up functionality means that more people throughout the firm, and eventually the client, will be able to share accurate, up to date information through the accessibility and convenience of the Internet. Better information translates to better decision-making and better customer service."
AMB, one of North America's largest owners and operators of industrial real estate, became the first ASP-based CTI user in 1999, in order to enhance efficient management of its 97 million square foot industrial portfolio. As part of the new agreement to extend their use of CTI through 2009, the company plans to increase the number of users on the system by more than thirty percent.
A large part of AMB's success reflects its outsourced, alliance-based operating model - a model that benefits from the use of advanced software to increase operational efficiency. "The flexibility and accessibility of an Internet-based solution lends itself to the highly distributed nature of our property operations," continued Pryor. "By utilizing the CTI ASP, we've been able to minimize the resources needed to support our business partners, thereby reducing costs and enabling us to focus our time on the business of real estate."
By deploying CTI through an ASP, both AMB and L&B are able to reduce the cost of supporting a traditional software installation, while improving the accessibility for users. The significant advantages of an internet-supported solution include:
- Eliminating infrastructure costs, including hardware
- Reducing the burden of support from the internal IT group, enabling them to focus on other tasks
- Ensuring that users are automatically upgraded to the latest version of the software
As a leading pension fund advisor, Dallas-based L&B is continuously analyzing the value of existing properties and potential acquisitions, requiring significant data sharing across the company and across applications. "Integration between ARGUS [Realm's leading financial analysis tool] and the property management system is extremely important to us. Our goal is to eventually maintain a single, constant stream of data on a property from initial evaluation to acquisition through asset management," continued Gerdes. "After a comprehensive evaluation of vendors, we found that for fully-integrated systems, Realm is the best."
Don MacKinnon, CEO of Realm, noted that the two agreements represent an additional milestone for CTI, in what has been a long history of success as the leading property management solution among the industry's elite. "We are proud to partner with two companies that have maintained such strong reputations in the market," MacKinnon remarked. "AMB is a hallmark for the industry in both operational efficiency and innovation. Additionally, L&B has maintained an extraordinary reputation of service and value to their clients for more than thirty-seven years now. We look forward to our role in helping both of these companies extend their leadership in the industry for many years to come."
About Realm Business Solutions
Realm Business Solutions, Inc. provides software and services that enable its customers to better manage the financial and operational performance of their real estate portfolios. More than 8,000 of the industry's leading owners, managers, financial institutions and REITs trust Realm solutions to improve the visibility and flow of information throughout their critical business processes. Realm is the developer of such industry standard products as ARGUS, BUDGET, CTI, DYNA, INSIGHT and LEASE. Visit Realm's website to learn more about these solutions, as well as reXML, the open source language for exchanging data between Realm and other applications: www.realm.com.