Proptech firm RealNex, which has a commercial real estate platform called RealNex Navigator, released an updated version with a number of new capabilities.
The base version includes customer relationship management (CRM), financial analysis, presentations, marketing, reporting, and transaction management.
In the software industry, vendors keep adding features and capabilities for three major reasons. One is to remain competitive with others in the same line. Second, to demonstrate to customers ongoing value. And the third, to create a rationale for ongoing upgrades and billing that drive renewable revenue.
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"The new release includes the deployment of 222 new presentation templates, a workflow sequence that implements industry best practices, new data fields to better manage business development, automated market intelligence for lead generation and a turbo search feature to rapidly access targeted information," the company said in a press release.
The company says that its template library will let companies "take their CRM property profiles and with one click create professionally designed Flyers, Brochures, Broker Opinions of Value, Proposals and Offering Memorandums."
There are also investment and development, lease versus buy, and sale-leaseback analyses "customized for sale or lease and virtually every property type." The company based its configurable designs on "hundreds of client interviews."
"The CRM has long had a powerful query engine with a flexible display capability which user were readily able to create and save as favorites," the company added. Users have access to pre-loaded views based on lease or listing expiration; type, size, and value of properties; and investors based on given criteria. A market intelligence service will generate "high probability sale and lease leads."
RealNex had released a new version of the product in June of this year. The major change then was the move of CRM capabilities to a cloud delivery format rather than its "legacy desktop solution." There are pros and cons to each approach, but cloud delivery of software has become a major movement in the overall software industry because of two major factors. One is the greater ease of making changes to software without enduring the complexities of clients with varying company-customized versions trying to move to the latest, often requiring significant hands-on help.
The other part is a trend that started in the late 1990s and early 2000s, in which vendors of desktop applications looked for ways to gain annual license revenue, like the old mainframe and minicomputer days, rather than trying to sell upgrades to clients.
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