It is all about the journey!
The 2. edition of PropTech Connect conference was intense and genuinely inspiring.
📍 The event aimed to make conversations between real estate investors, landlords and all sorts of real estate technology providers flow at ease and PTC 2024 delivered fully! The transparency of what technologies are available and how they can be applied or connected with other solutions enables better understanding for the user side on what makes sense streamlining in a holistic way.
🔆 What were dominantly on display?
Many solutions that focus on:
➡ building automation
➡ decarbonization
➡ potential use of AI
It could seem at this point that many companies try to provide solutions with aiming the same pain points, but as many on the receiving side said, a big number of these applications focus on partial solutions and Real Estate landlords and asset management companies would like to understand how it all comes together.
We felt a bit of controversy though - all eyes are on how hashtag#AI can be utilized in the Real Estate space, but landlords' and asset managers' hashtag#FinancialDataManagement is left behind and handled on a much less efficient way.
What the iREMS International AG team saw and heard as a typical setup with big landlords and asset managers is to have a core (accounting-focused) system with Excel reporting floating around.
💣 The challenges of elevating the automation and connectivity of financial data are coming from:
📌 the rigidness of outdated system architectures
📌 the accounting focus ahead of the real estate specific business focus, where so much financial information needs to be followed upon and connected way before it reaches accounting momentums
Asset Managers agree that efficiently automating and streamlining financial data flow is key for realizing the highest hashtag#ROI. Yet we also see that many stakeholders seem to tolerate the handicaps of legacy solutions and fear touching their existing reporting setups.
hashtag#PropTechConnect created a platform where these challenges can be analyzed and discussed in a holistic way.
🔆 It emerged again that Real Estate investors need to follow the data and not systems. The solutions that support this vision will enable the highest potential for efficiency and cost control.
The 2-day conference and the evening receptions generated super exciting discussions and supported the connection across all stakeholders beyond expectations.
A huge thank you for the PTC Team for filling the gap in the industry with a narrative where Real Estate investors and asset managers have direct access to the various technology solution providers and can understand how technology can support their journey.
✅ If you own the data, it serves you every way you need them to!
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