Sponsored Content: Drooms
The real estate industry is no exception. For many organisations, the daily struggles of trying to manage hundreds of projects running across different geographies, is contributing to continued poor return on investment or failure to unlock full investment due to an increase in costs, extended timelines, delayed benefits, or reduced outcomes. To be able to manage real estate portfolios efficiently at all times, the following six areas should be considered:
- Digitisation is key: As businesses look for ways to improve functionality and efficiency, digitisation is playing an increasingly important role in the real estate sector. When managing a real estate portfolio, the distribution of documentation across multiple locations by different stakeholders can make it hard to identify the correct document versions and keep them up to date. Prioritising digitisation to facilitate access and management of information is crucial to future success.
- One source of information: To facilitate access to documentation, it is important to centralise data on a single platform. This ensures that information remains available to necessary parties at all times.
- Keep information up to date: With so many people accessing files at a given time, and with regulations constantly changing, it is paramount that documentation is regularly updated. This also ensures transaction readiness at all times and is a huge time-saver in the event of a sale.
- Selecting the right technology: A key way to help your business thrive and become more efficient is to leverage the right technology that enables controlled access to large amounts of highly confidential documents across company boundaries. The structuring, storage, searching and sharing of data from anywhere and at any time should be a major focus.
- Intuitive and fast workflows: One of the biggest challenges in managing a real estate portfolio is the vast amount of mostly unstructured data that needs to be organised. However, data structuring is an enormously time-consuming task. Therefore, it makes sense to automate internal processes and, for example, to use an AI-driven user-friendly platform.
- Be secure: Regardless of what technology you use, trust is key to the relationship succeeding. If you use a digital platform to store your confidential documents, you need to be confident that the platform meets the highest IT security and data protection standards available.
What is the solution?
A long-term data room makes it possible to keep documents up to date and available in one place so that they can be quickly transferred to a transaction data room for due diligence in the event of a pending transaction.
The most advanced way to manage real estate assets during their lifecycle is with Drooms PORTFOLIO. The platform, built with AI and based on in-depth market research, alleviates a lot of the common pressures associated with traditional portfolio management workflows.
Drooms PORTFOLIO delivers long-term value and supports strategic objectives by ensuring operational excellence. By consolidating investment-related documentation on one secure platform, organisations can finally eliminate siloed work processes, monitor, update, share and review information in real time quickly and securely, ensure process automation at scale and minimise risk. With no limit on users, or the need for a VPN, parties can enjoy a seamless experience.
To find out more information on how you can get Drooms PORTFOLIO free for three months, as well as getting an extra 50% off your order of one asset data room (for three months), visit this LINK.