Product Description

Vision Software is a privately-held New Zealand vertical market software developer with offices in Mt Maunganui and Sydney. Our business is the design, development, implementation and support of corporate real estate and commercial property management software. With market-leading success in New Zealand, and status of fastest-growing vendor in Australia, Vision Software will expand to the US in 2007 and has ambitious plans to succeed in the world’s biggest market.

While most people understand what commercial property is, corporate real estate is less understood and is emerging as the most rapidly-growing sector of the property market. Simply, corporate real estate involves the management of work-space and the best utilisation of property assets for an organisation, especially when that organisation’s core business is not property.

VisionCRE is an integrated workplace management system designed to manage the entire property lifecycle – from acquisition, development, fit-out, refurbishment, lease administration, property management, space management, asset management, facilities management, document management and disposal.

VisionCRE is the only Australasian solution able to manage both owned and leased properties in a single database, and our competitive advantage is further enhanced by technology we have developed to rapidly customise our solution to meet the needs of different corporate entities with very different property requirements.

VisionCRE is designed to integrate with enterprise accounting systems and provide business intelligence to the corporate property team, and to assist them to make sound strategic decisions about their property needs. There is a growing realisation among corporate clients that managing their non-core assets in this way can add real value to the organisation.

VisionCRE’s integrated modules include:

• Property Management

• Lease Administration

• Critical Date Diary

• Space Management

• Document Management

• Accounts

• Project Management

• Asset Management

• Facilities Management

• Data Visualisation

VisionCRE can be deployed both as a Web and a client/server application is written in Microsoft .Net. The Web client can also be accessed via a handheld device, which is important as property management is by its nature a mobile discipline.

Renowned for its ease of use and intuitive user interface, VisionCRE is easy to learn and master, and is backed up by world-class business analysis, customisation and implementation services.

In a competitive market full of multi-nationals, VisionCRE has been chosen by a number of significant corporates, professional commercial property management companies, government departments, non-profit organisations and local authorities in both Australia and New Zealand. See the Performance section for details.

VisionCRE has helped many large organisations to streamline the administration of their portfolios, rationalise and make better use of their leased and owned space, achieve much greater visibility of their key assets, and add real value to their bottom line.

Innovation

VisionCRE has a number of unique properties:

1. It is the only property management solution produced in Australasia that caters for both leased and owned properties in a single database. Technically this is difficult to achieve, because the accounting relationships are complex - in some cases the organisation is both an owner and a tenant, or even sub-tenant of a property.

2. It is the only property management solution produced in Australasia with an advanced Web client, allowing owners, tenants and managers access to key property and lease information from any browser, in real time.

3. It is the only property management solution produced in Australasia that supports mobile solutions - the Web client can be deployed on a handheld device such as Pocket PC, PDA or cell phone.

4. VisionCRE is written in Microsoft .Net as a full Web application. It is the only product in the market fully written in .Net and deployed as both a browser and desktop application.

5. Vision Software has developed (with the assistance of a substantial grant from NZ Government) a development methodology and configuration toolkit that allows us to rapidly deliver high-quality, highly-customised applications. This is not only extremely innovative but also makes our business scalable.

Performance

VisionCRE meets and exceeds all required performance criteria. VisionCRE has been successfully implemented in several blue-chip corporates and property-owning companies in both Australia and New Zealand. Our client list includes;

u     ANZ Bank (New Zealand)

u     National Bank (New Zealand)

u     Westpac Bank (New Zealand)

u     Toll Holdings

u     Smorgon Steel

u     Air New Zealand

u     DTZ (New Zealand) - property managers for Vodafone, Inland Revenue Department, Ministry of Education

u Wellington City Council

u     Woosh Wireless

u     State Parliament of Victoria

u     The Warehouse

u     Australian Discount Retail Trading

u     Patrick Ports

u     Ports of Melbourne Corporation

u     Restaurant Brands - New Zealand owners of KFC, Starbucks and Pizza Hut

u     Salvation Army

u     Savills (Canberra)

u     Bunnings Warehouse

u     Wellington International Airport

One of the key success factors in the success of our products is our ability to execute large-scale and complex implementations. Our implementation processes are world-class and are designed to minimise business risk to the client (and by consequence to Vision), and to ensure an extremely close fit between the client’s business processes and our solutions.

Vision has demonstrated the ability to compete against multi-national vendors such as PeopleSoft, Manhattan and Intuit Real Estate Solutions (MRI) for large projects, and to win the business. In recent implementations at Westpac Bank and ANZ National Bank, all customisations were delivered on time and with zero defects. In the latter case this was achieved to an extremely tight timeframe.

With our new development methodology we’re able to provide high levels of customisation in a short timeframe. In late 2006 we undertook a development and implementation for State Parliament of Victoria using the new methodology. Not only was there a large degree of customisation required, which traditional products lacked the flexibility to provide, but also the client had an immovable deadline (the state elections in November 2006) that simply had to be met. Vision Software delivered a customised version of VisionCRE - on time - that met the client’s needs exactly.

Potential

Based in New Zealand, Vision Software opened an Australian office in Sydney in August 2005. We now have 15 Australian clients and a strong sales pipeline. While there is still potential in both the New Zealand and Australian markets, there is clear evidence that our value proposition “High- quality, highly-customised corporate real estate solutions rapidly delivered using the latest technology platform” will be attractive in other markets.

In 2006 Vision hosted four International MBA interns from Massachusetts Institute of Technology as part of the Global Entrepreneurship Laboratory (G-Lab). The project was to establish the viability of Vision entering the US market, and to determine the best entry strategy and business plan to exploit our competitive advantage.

Potential future markets also include the United Kingdom and the Middle East, specifically the emirates of Dubai, Abu Dhabi and Qatar, where significant opportunities exist in the property industry. However we want to go and take on the big players in the major league, and that means the US.

Having established credibility at Tier 1 level in Australia and New Zealand, Vision’s objective is to scale the business to provide for rapid expansion. In 2007 we expect to have a sales office in the US and our first client. Our target market is Tier 1 and Tier 2 corporations in the US with moderate to high corporate real estate costs, and motivation to decrease those costs and improve their return on their real estate assets.

Other information the judges should know

u     Vision Software was formed in 1988 and has offices in Mt Maunganui, Auckland and Sydney. There are 34 fulltime equivalent staff. Over the last four years our revenue has grown by an average of 40% per annum.

u     In October 2005, Vision Software was awarded Best Business - Service Industry in the regional Chamber of Commerce Business Awards. We also received a special Judges’ Commendation award for having a business with outstanding potential.

u     Vision Software is a member of the HiGrowth 100x100 project, a New Zealand government initiative to help develop 100 companies with annual revenues of $100m within 10 years.

Appendices

u     VisionCRE Case Study (PDF attached)

u     VisionCRE Product Overview (PDF attached)