Construction cost data provider RSMeans and e2Value, a provider of Insurance-to-Value Internet applications last month formed a partnership to integrate RSMeans data solutions into e2Value's real-time real estate replacement cost valuation platform to create the eValue-MCV tool. Customers were first able to take advantage of the new tool as of July 1, when e2Value took ownership of RSMeans CostWorks Valuator for Insurance. (e2Value will also take over customer service and product support from RSMeans in September).
The partnership is expected to yield a more robust offering for those customers and increase the value of RSMeans data. Customers will now be able to determine accurate replacement cost value within the real estate market and conduct analyses that account for both replacement value and construction costs. Capability now exists for customers to perform commercial and farm and ranch valuations, functions they couldn't previously accomplish with RSMeans.
While RSMeans will undoubtedly increase product interest and appeal to a potentially larger customer base by offering this functionality powered by e2Value, the technology provider is also positioned to gain customers and market share. The partnership represents e2Value's entry into the Canadian market.
This deal is yet another example of content providers utilizing software to convert their valued content into a much richer, even more valued service. This partnership is certainly a valuable proposition for both RSMeans and e2Value. Combining their strengths to create a tool that will most likely be strongly embraced by the marketplace was definitely a smart move. Converting your content to a service will only help increase the longevity of your core product as well as your customer base. Creating such a service is becoming more than a value-added feature today, it's becoming a necessary component of maintaining and increasing market share.