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Wednesday, 14 November 2018

How Cloud-Based Software Is Transforming the Commercial Real Estate Industry

Commercial real estate(CRE) has been notoriously slow to embrace new technologies, but new cloud solutions are providing an excellent opportunity. For corporations and firms that embrace and leverage the utilization of the latest technologies, there are considerable gains to be had. The commercial real estate industry is ready to take off by utilizing a portion of the new advanced technologies accessible.

In correlation with different organizations in the real estate sector, companies trying to differentiate themselves from the competition by using the most recent technology and innovations, including cloud computing, big data, and VR, to transform the experience of property exchange for buyers, occupants and real estate agents.

When discussing “the cloud,”, A top notch multi-cloud strategy can rain savings on a commercial real estate enterprise.  Cloud-based solutions are coming up as the clear winner over conventional on-site IT systems, with the potential possibilities to transform every aspect of the real estate business – from property management to accounting to construction administration. Also, any potential answer for the CRE business' data problem must be sufficiently adaptable to accommodate brokers’ dynamic, always-on-the-go workflows. Locking market data away on an inaccessible server wouldn't benefit anybody in any way. Luckily, the generally quick rise of distributed computing over the previous decade has given CRE experts all that they have to move into a major information driven future — both all through the working environment.

The Modern CRE Paradigm


In spite of these noteworthy advantages, numerous CRE professionals are reluctant about relying on cloud-based tools, voicing concerns about reliability, security, or usability. But in reality, tools designed for use across over mobile applications, tablets, and laptops are inherently more easy to understand than PDF or Excel reports exchanged between each.

Obviously, the genuine viability of any CRE tool comes down to the quality of the data it's giving. In an industry with margins as razor-thin as CRE, any boost to efficiency can have the effect between a deal closed and an opportunity lost. Real estate is — and will dependably be — a business grounded in relationships, but in today’s fast-paced marketplaces, steady and consistent access to quality data might be more valuable than a broker’s charm.

Cloud computing has been credited with increasing competitiveness through cost decrement, adaptability, elasticity, and optimal resource utilization. Here are a couple of situations where cloud computing is utilized to improve the ability to accomplish business objectives.

 Private cloud and hybrid cloud


Among the numerous incentives for using the cloud, there are circumstances where companies are looking into ways to assess some of the applications they intend to deploy into their environment using a cloud (particularly a public cloud). While in the case of test and development it may be limited in time, adopting a hybrid cloud approach allows for testing application workloads, hence giving the comfort of an environment without the initial investment that may have been rendered useless should the workload testing fail.

IBM Cloud service models - IaaS, PaaS and SaaS


Infrastructure as a service (IaaS) 


When it comes to IaaS, using an existing infrastructure on a pay-per-use scheme seems to be an obvious choice for organizations saving on the cost of investing to acquire, manage and maintain an IT infrastructure. There are also likewise instances where organizations turn to PaaS for the same reasons while also seeking to increase the speed of development on a ready  to-utilize platform to send applications.

Platform as a service (PaaS)


A specialist offers access to a cloud-based condition in which clients can manufacture and convey applications. The supplier supplies hidden framework.

Software as a service (SaaS)


A specialist conveys programming and applications through the web. Clients buy into the product and access it by means of the web or seller APIs.

Coding: Cloud based real Estate.

const moment = require('moment');

module.exports = function(contract, rentDate, previousRent, settlements, rent) {
  const currentMoment = moment(rentDate, 'DD/MM/YYYY HH:mm');
  rent.term = Number(currentMoment.format('YYYYMMDDHH'));
  if (contract.frequency === 'months') {
    rent.term = Number(moment(currentMoment).startOf('month').format('YYYYMMDDHH'));
  }

  if (contract.frequency === 'days') {
    rent.term = Number(moment(currentMoment).startOf('day').format('YYYYMMDDHH'));
  }

  if (contract.frequency === 'hours') {
    rent.term = Number(moment(currentMoment).startOf('hour').format('YYYYMMDDHH'));
  }

  rent.month = currentMoment.month() + 1; // 0 based
  rent.year = currentMoment.year();

  contract.properties.filter((property) => {
    const entryMoment = moment(property.entryDate, 'DD/MM/YYYY').startOf('day');
    const exitMoment = moment(property.exitDate, 'DD/MM/YYYY').endOf('day');
    return currentMoment.isBetween(entryMoment, exitMoment, contract.frequency, '[]');
  }).forEach(function (property) {
 if (property.property) {
   const name = property.property.name || '';
   const preTaxAmount = property.property.price || 0;
   const charges = property.property.expense || 0; 

   rent.preTaxAmounts.push({
     description: name,
     amount: preTaxAmount
   });


         rent.charges.push({
            description: `charges ${name}`,
            amount: charges
         });
       }
    });
  return rent;
};

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