More data sets are being added all the time, so watch out for news about exciting additions to our RDM service. As well as providing publicly-available data sets, which we provide to our subscribers free of charge, we can offer additional, premium services to our aviation customers. These include bespoke services to manage an airport's own reference data, either on-premise or on our cloud platform.
In our role as managers of the ACRIS Semantic model, we are uniquely placed to assure the compliance of all your reference data with the model. More information about this service can be found on our Reference Data page. For more information, or to request access to the Reference Data Repository and Data Service, please get in touch. Rockport offers consulting services, including to Airports, Airlines and other Aviation companies working with these industry models.
Rockport has developed several innovative software products. The Rockport Information Broker is an industry leading messaging broker supporting the latest international standard for baggage messaging. Rockport offers these software products and associated supports, maintenance and continued development services. Rockport Software has many years' experience and great depth of expertise in Business Intelligence, Data Analytics, Big Data and Data Warehousing, having designed, developed and implemented BI and DW systems and applications for many clients worldwide.
We work with industry leading technologies, including those from Oracle, Microsoft and others, on premise or in cloud platforms to enable the digital enterprise.
Rockport offers consulting services covering all areas of the project lifecycle, including requirements analysis, project management, design, development and testing.
Enterprise performance management, including Key Performance Indicators, Balanced Scorecard, process modelling and activity costing. We have developed and implemented EPM applications for many clients worldwide leading to demonstrable financial benefits as a direct result of the analytics. Rockport offers consulting services to assist your enterprise to manage and optimise performance.
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The COVID 19 pandemic has challenged the aviation industry with reduced levels of passenger air travel. Rockport contributed to an international project comprising a collaboration between organisations to develop the ACI World Airport Health Measures portal. Now that we have explored the traditional advantages that Excel offers over system based underwriting applications, we will explore the traditional disadvantages which Excel traditionally encountered.
We will then examine how these are no longer a concern with Rockport's Integrated Excel Underwriting. Classic Excel: Portfolio level reporting is nearly impossible with offline Excel spreadsheets.
Excel is great for analyzing loans as you make them but is almost impossible to cleanly and automatically roll up to a portfolio level. In general this forces companies into have disconnected Excel spreadsheets and then additionally a centralized system. This tends to lead to double entry of everything. This is not only a terribly inefficient approach but inevitably leads to errors when data gets updated on one side but not the other.
This limitation is absurd with today's technology. Integrated Excel: As a result of Rockport's multimillion dollar investment in creating its integrated Excel model this is no longer an issue.
Rockport has basically linked its model directly to the application so that the user can analyze the loan in Excel and then save back information and vice versa, pull updated information into the Excel model. This allows all the information on the loan and portfolio level to stay up to date on a real-time basis. The typical answer is that a company makes do with only the Excel underwriting model and its limitations in terms of professionalism of presentation.
If they need it in another format, they do double entry into the word file or whatever other format s the data needs to go into. This is a terrible waste of time.
Integrated Excel: Because the data is kept up to date with the integration of the Excel model and the system it means that all system reports e. Asset Summary Reports, Pipeline Reports, etc. Rockport's capacity to export reports into PDF, Word and Excel format means that these files can be generated with a click of a button and can be customized to a specific client's needs.
Classic Excel: A modern organization cannot afford to have hundreds if not tens of thousands of offline excel models, which get misplaced and can't be found when they are needed.
What is needed is a centralizing mechanism where all these files can be stored, organized and have their information integrated with a centralized system. Integrated Excel: Throughout the underwriting process, the Rockport user can save not only their data back from the underwriting model but they can also save copies of the model itself back into the systems document repository.
This means that a user can keep all the different iterations of an underwriting for future records, all in one place. Classic Excel: It is logical and important for compliance to be able to audit the history of a piece of information.
Integrated Excel: With an integrated system, all the data changes as saved back into the system where there is a full audit trail. By combining the two Excel and System you get more power than just with Excel alone. Classic Excel: Most excel models are built by one or two people in an organization and slowly evolve over time. Unless a firm has a different template for each permutation of these and maintain them , it is very hard to accurately structure different style transactions.
Integrated Excel: With Rockport's unique approach, the system builds every model to reflect the credit characteristics of each deal! This means that the massively intelligent system will figure out for you every single formula of the several thousand that populate these kind of complex models. And if it doesn't integrate with your internal credit system you should ask why. Systems are more than just a tool to do a job.
The true value of systems is derived by what they provide the business enterprise - which is information. Information is not data. Data is raw numbers which have little meaning. Data properly organized and with good reporting tools becomes information. Information is what allows good companies to act faster than less advanced companies and thereby prosper. Good information also makes buyers more comfortable that their bid is appropriate.
With only incomplete or questionable information, most bidders will include a 'fudge factor' or penalty for the unknown. On the other hand, if investors know what they are getting — they will bid much closer to the true value for the asset. Rockport has been approached by many firms which are looking to sell assets into the market to raise capital.
These assets are being purchased by firms which have a great deal of supply to choose from and therefore can afford to be picky. These purchasers need to make sure they can do sufficient due diligence and analysis before they purchase and in order to perform this, they need information. Without this information they need to trim their bid price in order to hedge against undisclosed issues which were hidden as a result of poor information.
With this kind of money at stake it makes absolutely no sense for a firm to use anything less than the best product available. Companies struggle with the idea of build versus buy all the time. Sometimes, the correct answer is abundantly obvious. Very few firms would choose to try to build their own phone systems or perform their own electrical work. However when it comes to other types of systems, such as Commercial Real Estate Systems, some firms are less sure.
This white paper explores what the reasonable cost to build and maintain a Commercial Real Estate System would be and thereby whether it makes more sense to build internally or buy an already built external system. It will be necessary to set some base assumptions for the purpose of this analysis. These are not meant to be accurate, but instead meant to reflect the absolute best case in terms of self building.
The theory is that by assuming the best case it eliminates the "Oh but we're better than that argument" that inevitably will arise from internal tech groups which feel territorial about system development. The assumptions are as follows:.
It should be noted just how rarely this convergence of factors occurs. Distractions, politics, employee retention and lack of integrated knowledge of both real estate and technology are frequently at fault for massively greater costs than the ones included below. The final assumption is that this analysis is strictly of the monetary costs involved in the project.
This will not cover the true cost of putting the best people in an organization on a project that will take years before it reaches final completion, thereby depriving the organization of these skilled employees on other projects which are more likely to be revenue producing. Internal development costs vary widely depending on the scope of the system and the company's threshold for errors or poor performance. Traditionally internal systems tolerate these defects errors and poor performance as they simply do not have the capacity or willingness to spend the time and money to fix them features take precedence.
Third-Party systems have the advantage of a much larger budget base and willingness to spend the money necessary since the system is a revenue center for a third-party system. We will look at two basic scenarios, as well as Rockport's own experience on what a reasonable cost assumption would be. Members of Rockport have built these systems in previous jobs and are well-versed in the efforts required.
This type of system probably takes three person years of dedicated time to build meetings with users to determine fields, report layouts, time to develop, testing and QA. This type of system has acceptable levels of disaster recovery, probably uses a SQL Database, typically only includes a few of the many sophisticated features available in Rockport e. This system will not have any sophisticated interactions with outside third-party systems such as Trepp as third-party systems have a significant aversion to interfacing on a custom basis all cost, almost no benefit.
They will on occasion interface with other third party systems though since the advantages can be spread across significant user bases. This type of system requires a dedicated sizable project team for multiple years to design, build and test.
Absolute minimum team required for two years would probably be:. Unfortunately at the end of this time, the system would probably be hardcoded not flexible to changes in market and have poor performance system slowness and not terribly user friendly. Given the sophistication of these kinds of systems, the best approach to estimating cost is to look at the comparable systems which have been developed over the last few years.
The actual cost with true salaries is significantly higher. Outside of Rockport, there have been several other systems which were developed to do the same thing. Two examples of these systems would be Deal Central and Capital Thinking information from publically available sources :.
The conclusion to the first set of costs the costs solely to build the systems :. The cost of incremental improvements is variable, based on the company and its ability to live with old systems and the complexity of its business model.
Internal infrastructure costs are often ignored during the decision making period. Infrastructure costs should not be ignored however has they can have a significant impact on overall project cost. Since this is a basic system which sits on an internal network, has no additional disaster recovery features and is not internet accessible, the requirements are less on the infrastructure side.
This assumes that it is using shared resources and basically just being billed for incremental use for instance of the technical support staff. For a standard internal system of respectable size and sophistication, the following is a reasonable expectation of cost:. Cost of a system's 3 components Based upon our assumptions at the beginning of the paper which were meant to be unrealistically optimistic :.
Rockport represents an enormous bargain when compared to the cost to build even the most basic of systems. This white paper explores the strategic differences between going with an internally built system and an external ASP style solution. Rockport has tens of thousands if not hundreds of thousands of person hours logged on the system. It has gone through a decade of testing and is maintained by a team of 20 people.
It is used by best-in-class businesses which do not accept imperfect products. This battle testing has made the application rock solid. The alternative is to try and stay with internal development and hope that this continued development will work.
Staying internally is a major gamble as it means taking a little-tested, unperfected product, and continuing to modify it significantly while hoping that it works the first time. Rockport has successfully done this for many other companies. Rockport's developers know both technology and real estate. This integrated knowledge tends to be much stronger than internal IT. No matter what the industry, someone who understands the end user and their daily concerns will develop a far more useable application than someone who does not have the same domain-specific knowledge.
Internal IT typically is tasked with maintaining, improving and building several different applications for several different divisions. Rockport has one and only one focus — improving this application. This singular focus leads to faster and better results because of a lack of distractions, and a lack of fire drills from other departments. If internal IT is completely dedicated to the application then typically this single focus comes with significant costs which makes it far more costly than Rockport.
No matter what the topic - and systems are no different - the time it takes to build is always significantly longer than buying the same product. Whether it is a house, a car or a system it is always much faster and less thereby less risky to buy something than it is to try and build it.
This is especially important to realize if time overruns would be damaging to the business enterprise. Nothing complex ever gets built quickly- especially with internal politics, distractions and technical hurdles. If a system needs to be in place quickly and is nontrivial in nature, it is almost impossible to accomplish this with an internal build. Assembly lines, interchangeable parts, economies of scale, etc.
Systems must continually evolve. The financial industry especially now continues to change rapidly and systems need to react. Technologies, best practices and compliance also change.
Much of this comes 'for free' for Rockport clients as Rockport evolves itself. If done internally every one of these evolutionary steps is paid for with internal work. If not, then the system stagnates. Client support, testing and training all require significant time resources. Frequently on a system release these 'intangibles' can take as much or more time than the actual development itself.
If the project is done internally all of these roles need to be filled by people who have costs associated with them. These costs may be actual costs salaries of technical workers or huge opportunity costs if it pulls people off of other critical work — such as asset management or REO work. If an internal system is built by one person or a small team the only way to do it with any cost consciousness involved , then the key person risk is huge.
If that person s leaves or is transferred to another division or project all their experience goes with them. There are many examples of this occurring with internal systems. Each time, the impact to the system ability to continue to evolve is devastating the new people brought in have to relearn the system from scratch.
This is why Rockport cross-trains all of its employees such that it does not have the same key person risk. Additionally, by focusing on employee satisfaction, Rockport has an incredibly high retention rate. The cost of systems should be broken down into subcomponents.
If cost is of relevance, internal should be asked at what price they can provide the following all of which are required to deploy a Rockport type solution :. Most of the points below, despite sounding minor would take probably on average 6 person-months to create EACH ; all of these features exist in Rockport. However they rarely exist in internal systems:. Rockport stores the user, time and value of every record changed in the system, maintains the entire history and makes it accessible to the user upon demand.
This is a big help in compliance and to understand why field's value is what it is. Rockport has an incredibly advanced and user-friendly ad hoc reporting tool. Ad hoc reporting is one of the most valuable features an enterprise system can have as it empowers the end user to do their job instead of always waiting on technical resources for the answer to their questions. Extensive prebuilt reporting means that a client has to build less from scratch e.
All of these would need to be built by internal system to be comparable in functionality. Reports can be scheduled and emailed from the system. This requires significant integration with mail servers and permissioning which is difficult to replicate as an internal system without significantly adding to complexity.
Rockport has spent years building a completely unique capacity to heavily integrate Excel with the Rockport application. This allows for the extension of the application into Excel for the functions which users would prefer to perform outside of a system.
This feature alone is estimated to cost several million dollars. Rockport stores all counterparties to a loan companies and individuals as actual records in its database so that there is no duplicate entry of information and so that all information e. Otherwise a user would never know unless they spoke with the loan officer who worked on the last deal with the specific counterparty.
All major sets of data which have time dimensions are entered into Rockport such that they can be stored on a time series basis e. Appraised values change over time and reported as such. This adds a significant complexity on the database architecture and therefore time to develop a comparable internal system. Portfolios can be built either by use of filter criteria e. Portfolios can also be made up of other portfolios. All these features are available on demand to the end user and are deployed with intuitive end user interfaces.
These portfolios are then integrated into every report so that portfolio level reports can be run on any subset of data that a user prefers. The user can add read-only notes to the different chronological records so that histories of that record can be maintained for both compliance concerns as well as a record of who said what when lender liability, etc. Rockport geocodes properties which allows for mapping, as well as quality controls for instance to make sure the same property isn't in the system twice.
Rockport PA, L. Client will make no representations or warranties to any third party based upon the Service, nor will Client transfer or purport to transfer or assign any rights in the Service or any portion thereof to any third party.
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Rockport Networks has sought to address the root causes and ramifications of congestion and latency, particularly tail latency, in Performance Intensive Computing PIC clusters. It has designed a distributed and embeddable switchless network architecture to resolve these issues. Home Product About Careers News. A new era in networking is here.
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