9 Things you need to know about Cloud-Computing for Commercial Real Estate

Cloud Computing for Commercial Real Estate Software - the basics explained

Here are a few of the technical terms that you will hear a lot when talking about “Cloud-Computing” as it relates to the Commercial Property Management industry.

The Cloud - Definition

The sharing of computing resources over the internet. It aims to create economies of scale, and greater coherence of systems and simplifies the management effort of your software.

SaaS - Definition

SaaS - Software as a Service

The new software distribution model whereby the provider hosts the application.

API - Definition

Application Programming Interface – In basic terms is the set of communications protocols, subroutine definitions and tools that allows two software products to talk to each other.

SSO - Definition

Single Sign On – The access control of multiple related, yet independent, software systems. Through one application – like Office 365 or Google.

Open Architecture - Definition

Software is structured in a way that makes adding, upgrading, integrating and swapping components easy.

Managed Firewalls - Definition

The management of network security that monitors and controls network traffic based on predetermined security rules.

1. Integration is Key

Open API cloud-based systems usually have an “open architecture”, which allows other software platforms with similar architecture to share data. This eliminates the necessity to run a whole bunch of systems along-side each other, where your staff need to maintain the data independently for each. Open API systems allow each individual application to access the data from one place – creating a “single source of truth”

2. The push and pull of information

The systems do this by “pushing” information out to the integrated applications and, when required “, pulling” the information back in where they need. As explained, that means when you put the information in one system, it is available to all the integrated platforms. And as the information is changed or updated in one system – it flows through to all other integrated systems. This drastically reduces the manual input and opportunity for error.

3. Mapping + Common data fields

The information is shared across multiple platforms by “mapping”. This is the process where the software engineer will use each system’s API to match data fields on both sides.

Examples of a data field is information like

• “Property Address”,
• “Tenant Name” or perhaps
• “Net Rent” –

Which is often treated exactly the same way in one system as it is in another. By mapping the data transfer between the platforms, you avoid having to input and update across each system individually.

4. System Architecture

When we talk about “open architecture”, we are really talking about the ease at which one software application can “talk” to another.

If the systems have open protocols, there is a greater commonality with other systems that have been built in a similar way.

In the old days, many software houses would seek to lock up their IP (Intellectual Property) by not allowing it to integrate with other products. This was often because they had a suite of other products themselves that they would drive you toward. Modern SaaS-based products do not subscribe to that philosophy.

They are generally seeking to build the best product possible in their market segment, and leverage the same development innovation occurring in other companies with complementary systems. This ultimately means the user has access to “best in class” products across multiple market segments and is not indelibly linked to one software provider forever

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