German software company Evana, a digital document management specialist, has entered into a strategic partnership with compatriot realxdata, a provider of data analytics, to pool resources in automated real estate prospectus data analysis using artificial intelligence.
The two companies are linking their algorithms to collect prospectus data within seconds, store it in data rooms and prepare it for analysis. The new product will be available from summer 2020.
Evana and realxdata will focus on sales prospectuses with further information of the buildings/portfolios which should be sold. They include for example the exact addresses, lists of tenants, cashflow/rents and other relevant data. The artificial intelligence will analyse this information automatically and store it in the data room and the realxdata platform.
The customers will work in a dashboard including a map.
“The tedious typing up of prospectuses, which pile up in mailboxes or digital inboxes, takes up an unnecessary amount of time and ties up valuable capacity in the company. Here we see an enormous automation potential from which our customers can benefit greatly,” believes Dr Titus Albrecht, CEO of realxdata.
Sascha Donner, CIPO of EVANA, explains: “Our strategic partnership solves a common problem for asset managers and investors. In addition, we reduce the potential for errors in data transmission many times over and ensure that more market data is available close to the investment process.”
The two companies regard their partnership as a necessary preliminary stage on the journey to the complete digital exchange of purchase offers within the real estate industry.
Evana is based in Frankfurt am Main and Saarbrücken and has 90 employees. Realxdata is based in Berlin and has 30 employees.