The Differences Are Crucial
As you search for the best Construction Loan Monitoring and/or Construction Disbursement Software to compliment your Construction Financing Software you will find the products are divided into two categories, a Windows PC application installed on your computer (Windows Application), or an application that is located on an cloud based web server accessed via the Internet (Web Application).
Windows Vs. Web:
· Windows application can only be accessed from the PC's on which it is installed, providing strict access to the application and the data it contains. This is especially crucial if security of client data is a concern.
· A Web application can be accessed from any system that has access to the internet. Access can be restricted by Username and Password protocols, but ultimately anyone can attempt access to the application and its data.
· Windows applications needs to be installed on each PC or a server, thus the process of upgrading and maintaining the system can be cumbersome.
· Web applications can be upgraded just one time for all users.
· Windows applications are as fast and reliable as your PC and the network they are installed.
· Web applications are limited to the speed of your internet connection and its up-time reliability – No internet-No application.
Your IT department will know the differences in these two modalities and will be very helpful in steering you in the right direction. Many factors play a role in which system you choose, and yet the security of client sensitive data and how it is stored -under lock and key on the banks internal servers or a massively certified and audited secure server proves to be the biggest factor when the ultimate decision is made.
Wait! The BEST solution may be a hybrid approach!
Some systems have both - They leverage the security and speed of a Windows application while using a Web application to provide their borrowers, builders, inspectors and title companies the ability to synchronize their efforts with each project by entering and sending non-sensitive data such as draw requests, inspections, date downs, pictures and documents.
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