VIS (Valuation Information System) is successfully operated by large Valuation Organizations and Banking Institutions in Greece, with demonstrated cost savings and efficiency improvement. It is by far the most popular product within the Greek valuation industry and It has significant market potential in foreign markets, particularly in Europe.
VIS provides a comprehensive end-to-end system for managing property valuation activity.
It brings together a range of software components and technology to manage the process of client request, data acquisition, job scheduling, report preparation and invoicing in a unique product customized to suit the specific needs of the valuation industry. It tracks project status and provides early warning signals of timing delays using color highlighting.
The software can incorporate use of Google Maps and/or Bing Maps to provide convenient additional information about the location of the subject property, and relevant sales data in its vicinity.
The VIS system enables valuers to manage their work schedule efficiently and coordinate their activity effectively with their back-office administration.
Key Business Processes
The system manages :
VIS is an end to end property valuation management system. It is used by practices of property valuers and manages all business processes from receipt of client requests to produce property valuations, through all stages of production, electronic delivery of valuation reports and management of the invoice to payment cycle.
From a technical perspective, VIS is a web based application developed using Microsoft’s .Net platform. Supported databases include Microsoft’s SQL Server & Oracle. It supports Google Maps and Bing Maps to geo-locate property addresses and deliver map views of properties. It also uses AJAX technology to deliver rich browser experiences to users.
Timely delivery of valuations is a critical business requirement. VIS displays progress of each valuation through its lifecycle by an effective summary screen, enabling managers to view progress of every valuation at each lifecycle stage.
VIS supports over five hundred valuation report types and links standard fees earned to each report type. This ensures work delivered aligns with supply agreements and invoicing is timely and complete. For management, VIS provides a comprehensive suite of financial, client, and staff reports that provide a snapshot of the complete business at any point in time.
VIS has transformed work practices for valuers and staff. It has enabled major social change by introducing flexibility into the workplace: choice of work location and hours introduces exciting new ways of doing business. Valuers receive inspection runs using only their VIS client and an Internet Web browser. Innovative use of Bing & Google Maps enhances the mapping and display for each property and enables searching for recent sales evidence to support property valuations. Standard valuation reports are produced using centrally managed standard templates.
For valuer practices, VIS reduces valuation delivery time to their customers and drives down internal costs while managing quality standards. Management follows production progress for each valuation, customers are recognized and billed consistent with commercial agreements and completed work is paid for. Management can set goals, measure work performance and reward appropriately.
Management can access VIS using a browser to view progress on valuations underway and completed valuation reports. Documents can be transacted between customer systems using web services. This tight business integration adds significant value to the relationship between customer and valuer introducing new opportunities and products such as industry data and trends.
Banks, financial institutions, property management companies, real estate companies, appraisers, valuators, engineers (who conduct appraisals).