Drooms launches new lifecycle data room for real estate asset managers
Drooms has launched a digital platform that further boosts real estate asset managers’ administrative processes. The new ‘Drooms PORTFOLIO’ incorporates features developed throughout more than a decade’s experience in providing services to asset managers, such as UBS's real estate investment management business.
Drooms PORTFOLIO facilitates intelligent and secure portfolio management of multiple assets throughout their hold phase, allocating bespoke data rooms to individual assets while storing them on a single platform. It includes an ‘auto allocation’ functionality, which applies artificial intelligence to sort all incoming documents and indexes them accordingly.
The new product is a valuable tool in enabling real estate asset managers to stay competitive and relevant in a market that is modernising quickly and generating relentless cost pressures. Data gaps, time restrictions, varied file formats and asset categories as well as unique accounting systems are key issues causing process inefficiency and expense. Drooms PORTFOLIO enables users to address these issues. Crucially, by using its ‘transaction flag’ functionality, relevant documents can be marked for readiness and a transaction data room can be opened, reducing the time at which assets are brought to market by making divestment quick and easy.
Alexandre Grellier, Co-Founder and Chief Executive Officer of Drooms, says: “Making more use of the high impact technologies that are now available is a top priority for real estate asset managers, who are keen to address the heavy cost pressures they are under. So far, they have escaped the major disruption of new digital tools but time is running out as more players modernise their processes, creating a widening gap between the winners and losers.”
“This is a serious issue - in many multi-national organisations, for example, hundreds of projects are running across different functions and geographies and they are being managed via a variety of approaches. Such complexity causes chaos, continued poor return on investment and, potentially, failure in unlocking full investment values due to extended timelines, increased costs, reduced outcomes and delayed benefits. Our enhanced product offering, based on years of experience in asset portfolio management, offers a comprehensive and leading-edge solution.”