As an example of how cloud computing can aid the Commercial Real Estate (CRE) sector, the Altus Group has launched ARGUS API, which is an open integration of cloud-enabled ARGUS solutions designed to enhance connectivity for an increasingly global CRE industry.
The optimal solution is to enable a more seamless flow of data to streamline real estate workflows and industry applications, with the objective of less complexity and greater ability to derive more value from data. The ARGUS API has been developed to achieve this. This is a type of application program interface that enables the development of applications and services used for the provisioning of cloud hardware, software, and platforms.
In general, moving to the cloud has several benefits for CRE firms, such as flexible and simplified integration. By adopting this, such a system provides integration flexibility through an extensive set of available application program interfaces (APIs) with the ability to connect hundreds of data points while reducing the need for complex database integration and development work.
The cloud also enables greater access and utilization of data. This measure provides clients centralized and synchronized access to multiple sources of streamlined data between cloud-enabled technology and clients’ additional data including revenue and expense actuals and market data such as sales and leasing comparables while eliminating redundant and time-consuming data entry.
Furthermore, cloud computing can help realize increased workflow connectivity between applications, which enables real-time streamlined integration across different applications and systems to quickly assess impact of key assumptions during various stages of the real estate workflow.
With the ARGUS API, clients can also utilize and connect the cloud-enabled AE calculation engine directly to their non-ARGUS applications.
According to Carl Farrell, President of Altus Group: “The CRE industry is experiencing a proliferation of systems servicing key workflows which is generating islands of data; this has created an urgent need to better put data to work with a more open, seamless and integrated approach. Through a broad set of APIs that we will make available, ARGUS API helps to solve workflow connectivity challenges by enabling clients to more easily connect applications and data across systems. The result for clients is less complexity and greater ability to derive more value from their data.”
