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IBS introduces FINPAK, for financial reporting.

Integrated Business Systems (IBS) of Cedar Grove, New Jersey, has introduced a computer product that generates complex financial reports in highly-decorative formats and automates the entire process, announced Robert Entin, President. The comply provides a computerized real estate management system now used by approximately 80 property owners and managers in the New York, Washington and Florida metro areas.


"Unlike today's PC users who are accustomed to programs like WordPerfect or Lotus 123 which contain extensive graphics capabilities, most property managers use data-processing systems with only limited graphics capabilities," Entin explained. "While they can generate accurate reports for financial statements, rent rolls, arrears, aged payables, check registers expense analysis and general ledger, the reports lack a uniform look and such common decorative elements as boldface, true underlines and shading."

Furthermore, the typical method of report production for property managers involves timely manual processing and working with each individual program needed to prepare specific reports, as well as bursting, decollating, duplicating and collating -- in short, a massive paper job.

In contrast, the new product, called FINPAK, reaches into the data base and allows the user to produce reports with a uniform look and without any manual effort. A single command for each building or entity results in a comprehensive, cohesive report packet with table of contents, reports, appendixes, and other required materials, printed in page order and collated.

The result of nine months of research, FINPAK is now being tested by several IBS users including Manhattan-based Douglas Elliman Gibbons & Ives, property manager of 16,0000 residential units in 180 buildings located in New York City.

"FINPAK is an extremely powerful marketing tool which provides us with monthly reporting capabilities that distinguish us from the rest of the world," commented Michael Bell, vice president of Finance at Douglas Elliman.

A PC based product, FINPAK functions in the IBS mini-based system through its linkup with Digital Equipment Corp.'s PCSA, a combination hardware/software product that enables PCs to be hooked into the mini-computer via ethernet wire. This provides a completely functional DOS network on the mini-based system.
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Copyright 1991, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Title Annotation:Property Management Supplement; Integrated Business Systems
Publication:Real Estate Weekly
Article Type:product announcement
Date:Oct 2, 1991
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