Technological progress offers opportunities for better work. Faster processes, more transparent structures through user-friendly design and higher safety standards are just some of the potentials that can be realised with modern software. Companies therefore often have to ask themselves the question: Continue to use old software or dare to change the system?
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The digitisation of the industry continues to gather pace. Anyone following the developments in the PropTech sector has noticed an increasing number of reports of new cooperations and partnerships within the recent year. Mostly it is two companies integrating their solutions or services or connecting them via an interface (API) – the first small steps towards an asset management ecosystem. A good thing. But… can a comprehensive ecosystem really be built on “exclusive” partnerships? Or are they rather extended isolated solutions and thus solutions that the industry actually wants to say goodbye to? At Architrave we believe that data needs to flow. Without restrictions, and therefore “vendor neutral” – and not just between two applications.
Asset managers have to make important strategic decisions every day, react quickly and act with foresight. The key to successful asset management – is information. Despite all digitisation efforts: the important and correct information is still mostly found in documents. The problem: This information is still mostly available on paper. And even if digitised documents exist, they are often stored in several filing systems and sometimes with different service providers – often with incorrect or heterogeneous names. The result: time-consuming search for the right document and inconsistent data. Digital document management helps to ensure that documents and – the information it contains – are always available in an accurate and up-to-date form. This finally gives the data sovereignty back to asset managers.
Displaying an asset one-to-one on a digital platform and thus turning it into a transparent trading object, this is the idea behind the concept of ‘digital asset’. Real estate documentation can already be completely digitised today. The effect: centralised and accurate documentation, easy access for all parties involved – even mobile. Significantly reduced communication volume and more efficient processes. If the property is up for sale, it is directly ready for transaction – at one click. In addition, complete documentation reduces the risk of purchase price markdown.