Groch was one of several representatives of Project Octanethere. As a panelist in the session, "Joined-at-the-Hips CorporateVentures: A Defensive Strategy or Growth Opportunity?" he outlinedOctane's plans to delve into transaction platforms. "Communicationsare a little chaotic," but Octane believes it can use its upcomingplatform to "reduce cost, cycle time, increase transparency andeliminate redundancy."

"The shared services ASP is an information aggregate and processefficiency tool," Groch explained. "The benefits will be to reducecosts, integrate systems, enhance reporting, manage applicationsremotely and provide access to real-time data." This would be thefinal step in its "three primary initiatives."

Joe Fitzpatrick, executive vice president of strategicinitiatives for CB Richard Ellis Global, also spoke about Octane inan earlier panel moderated by Real Estate Forum editor CynthiaHoffman. "End users are demanding lower costs and improved timeefficiency on transactions. Fortune 1000 companies and largeinstitutional owners are requesting and developing Web-based toolsto streamline and reduce the cost of the transaction process. Anumber of on-line competitors are focused on automating thetransaction management process. A shakeout is eminent."