Proda has signed an agreement with German property investment manager HIH Real Estate covering €35.3bn of assets across 11 countries in Europe.
Proda has developed machine-learning technology to standardise the core data source of the real estate industry – the rent roll.
By automatically capturing, standardising and error-checking property data, Proda significantly reduces the time required to synthesise multiple rent roll data sets into a standard format, enhancing the asset management process. HIH will be using the solution to increase the efficiency and accuracy of their rent roll data handling.
Stefan Rath, head of real estate and investment management applications at INTREAL Solutions, an HIH company, said: “Based on artificial intelligence, the Proda software for the automated data processing of unstructured rent rolls solves one of the key digitisation challenges in the real estate industry. So, we quickly made up our minds that we want to integrate Proda into the digital ecosystem of the HIH Group.”
Peter Bredthauer, CEO and co-founder of Proda, said: “We’re very pleased to have HIH on board. Proda eliminates the manual processes associated with rent roll data and allows professionals to increase the accuracy of their decision-making capabilities. We’re excited to be able to work with such an important player in the German market.”
Proda is designed for institutional real estate investors, and any other professionals working with rent roll data, such as banks, brokers and surveyors. Users can drag and drop rent rolls into the system, and Proda’s machine learning software will then automatically extract, standardise and quality-check all of the data, flagging anomalies. Insights can then be generated at the touch of a button.