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Not as surprising was the percentage of people (56%) who identified security as their biggest concern with Web applications. Coming in second (39%) was slow performance, an anomaly, says Greco, with the show of support for T1 use.
"If you have T1 you shouldn't have slow performance," he says. "We'll have to explore this," adding that the responses could be from different participants. Other concerns included low functionality (27%); forced changes in work patterns (13%); difficulty in use and the requirement to work online (both at 9%). It should be noted that participants were allowed multiple responses, bringing the tally to more than 100%.
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"I had always been told that people don't need an Internet application for the news," says Greco, "but this response validates that approach." Other features listed as key to a serious application were: contact management (41%); pipeline management and reporting (39%); analytical tools (38%); access to lenders (32%); preparation of electronic loan packages (21%); and electronic loan submissions (17%).
"This is a very astute constituency," Greco summarizes. As a vendor, "this whole business centers around adoption. I need to speak the language of your constituency. This survey helped us determine that language and validate our business plan."
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
