房地产投资信托和公开交易的房地产信息技术调查(毕博公司)

RealEstateInvestmentTrustsandPubliclyTradedRealEstateInformationTechnologySurveyExecutiveBriefingApril,2000SponsoredbytheNationalAssociationofRealEstateInvestmentTrusts(NAREIT®)ConductedbyKPMGConsultingLLCMissionDeliverdistinctivelysuperiorcomprehensivesolutionsthatcontributetothegrowthandprofitabilityobjectivesofclientleadersintheFinancialServicesIndustry.ApproachForOurClientsDeliver,aboveallelse,responsivecomprehensivesolutionsthatlinkstrategywithpracticalresultstoachievesignificantchange.Now.ByOurFocusedProfessionalsUseintegratedteamsofdedicatedprofessionalswithin-depthindustryandfunctionalknowledgeandexperiencetomeetspecificclientneeds.InanEnvironmentofThoughtLeadershipBuildleading-edgeadvancesthatsupportthebestinterestsofourclientsandtheindustry.KPMGFINANCIALSERVICESCONSULTINGCopyright2000byKPMGConsultingLLC.Copyright2000NationalAssociationofRealEstateInvestmentTrusts®.Allrightsreserved.PrintedintheUSA.ThecontentsandformatofthissurveyareprotectedbythecopyrightlawsoftheUnitedStatesandinternationaltreaties.iiiKPMGConsultingthanksalloftheparticipantswhotookthetimeoutoftheirbusyschedulestorespondtothissurvey.WealsowanttothanktheNationalAssociationofRealEstateInvestmentTrusts(NAREIT®)fortheirwilling-nessandeffortsinpursuingthisinformativeproject.SheldonGronerandmanyothersatNAREIT®providedcriticalinformationandfeedbackthroughoutthesurveyprocess.WithintheRealEstateandHospitalityConsultingpracticeofKPMGConsultingLLC,CarlKane,ThomasHanszen,JackGerber,JimFerns,PaulFoster,DavidSrour,LoisMorrisonandMichelleMartincontributedextensivelytothedevelopmentandcompletionofthissurvey.ACKNOWLEDGMENTSACKNOWLEDGEMENTSiVABOUTTHESURVEY1SUMMARYOFFINDINGS3KEYFINDINGS5BusinessPriorities5ITEnvironment7Applications7Infrastructure11Organization14IT14DataProcessing16ITExpenditures19KEYISSUESANDNEEDS21AVIEWTOWARDTHEFUTURE22APPENDICES23AboutKPMGConsulting23AboutNAREIT®25Questionnaire27TABLEOFCONTENTS1KPMGConsultingLLCispleasedtopresentresultsfromthe1999RealEstateInformationTechnologySurvey.ThissurveyissponsoredandconductedbytheNationalAssociationofRealEstateInvestmentTrusts(NAREIT®)andKPMGConsultingLLC(KPMG).PURPOSEThepurposeofthesurveyistoassessthecurrentandchangingroleofinformationtechnology(IT)withinrealestateinvestmenttrusts(REITs)andrealestateoperatingcompanies(REOCs).Particularissuesconsideredincludebusinesspri-orities,ITapplicationsandinfra-structure,Internetactivities,organizationofITdepartmentsanddataprocessing,ITexpen-ditures,andbusinessconcernsregardingIT.Thissecondannualsurveyprovidesthebasisforamorecomprehensiveassessmentofongoingtechnologytrendsandinformationneedsoftheindustry.METHODOLOGYThesurveywasperformedbymeansofaconfidentialques-tionnairewithbothquantitativeandqualitativeresponses.Newforthe1999survey,participantswereaffordedtheopportunitytorespondviatheInternetaswellasthroughtraditionalhardcopymailings.Surveyquestionsfocusedonactivityin1998andprojectedactivityfor1999and2000.Datacollectionwascon-ductedbetweenJuly1999andOctober1999.Thequestion-naireisincludedintheAppendixforreferencepurpos-es.KPMGcompiledtherespons-esandthedatawasanalyzedbasedonseveralsizecate-gories,asdetailedbelow.Asindicatedinthesurveyquestion-naire,allsurveyresponseshavebeenandwillbekeptstrictlyconfidential.ThisExecutiveBriefingprovidesasummaryofthesefindings.RESPONSESThesurveywassentto225REITsandREOCs,identifiedbyNAREIT®fromarosterofitscor-poratemembershipasofJune1999.Ofthe225prospectiveparticipants,64respondedtothesurvey,resultinginaresponseratioof28.4percent.The64surveyparticipantsrep-resentapproximately$74.8bil-liondollarsinequitymarketcapitalizationor47percentoftheequitymarketcapitalizationofREITs(asofsecondquarter1999).Thisyear’sparticipationrepresentsasignificantincreaseinthenumberofparticipantsfromthe1998survey(50respondents).PROFILEOFSURVEYPARTICIPANTSTheprimaryvariablefordistin-guishingtheorganizationsthatrespondedtothesurveyisequi-tymarketcapitalization.Thisrepresentsachangefromthe1998methodofcategorization,wheretotalmarketcapitaliza-tionwasutilizedforcategoriz-ingparticipants.EquitymarketcapitalizationisviewedbyNAREIT®asthepreferredana-lyticalmeasurementduetotheconsistencyinapplication.Forthe64respondents,thedis-tributionofthepopulationwasdividedintothreeequitymarketcapitalizationcategories–small(18respondents),medium(20respondents)andlarge(26respondents),asshowninExhibit1.LargeREITsrepresentapproximately40percentoftherespondentsinthesurvey.SeeExhibit2.ABOUTTHESURVEYABOUTTHESURVEYExhibit1Exhibit22ABOUTTHESURVEYPercentofrespondentsineachequitymarketcapitalizationcategoryLarge-2641%Small-1828%Medium-2031%ABOUTTHESURVEYEquityMarketCapitalizationCategoriesThe1999RealEstateInformationTechnologySurveyyieldsavarietyoffind-ingsregardingbusinessandinformationstrategiesandtheuseoftechnologywithintheREITindustry.Overall,thesurveyresultssupportseveralbasicthemesthataresummarizedbelowanddetailedinthefol-lowingsections.BUSINESSPRIORITIESHAVESHIFTEDFROMPORTFOLIOGROWTHTOPORTFOLIOOPERATIONS.LargeandmediumsizeREITsareclearlytryingtodomorewiththeassetsint