PwC presents its new Real Estate Digital Ecosystem

REDI, the Real Estate Digital Ecosystem, is one of the first products of a new unit created within PwC which has 500 people focused on software development.

“REDI is about bringing together all the tools you need for asset management,”said Thorsten Schmidt, senior manager, digital incubator, PwC, presenting the tool at Real Asset Media’s International Investors’ Lounge at Expo Real. “We bundle proptech solutions and orchestrate them.”

The market needs fast, well-founded solutions but asset management is still shaped by isolated solutions and a “silo mentality”, with unmanageable spreadsheets and multiple, heterogenous data sources, he explained.

REDI is designed to be a solution to these issues.

“None of the solutions available fits all requirements, and that’s where we come in,” said Schmidt. “REDI is the most open and flexible integration platform for Top30 Asset Managers on the market”.

Asset management needs digital support at every stage of its operations, from market research to valuation to portfolio management, and from financing to building operations to property management to transactions.

In market research, REDI provides comparables from internal and external market sources. At the valuation stage, it analyses the impact of an acquisition on the portfolio. When it comes to portfolio management, it gives an overview of all virtual portfolios and assets and tracks the most important KPIs live.

Gathering data and documents for finance option is automated

The financing module allows automated gathering of data and documents needed for financing and tracking financing KPIs. For building operations it supports maintenance and repair with detailed property information, while for property management it provides a single point of contact for the client, the service provider and the tenants. When it comes to transactions, REDI enables the automatic creation and processing of documents and intelligent management of data rooms.

REDI’s user interface is divided into three sections: an overview of data, a process view and a proptech view.

“It’s similar to the app store on an iphone,” said Schmidt. “You can find the proptech solution you need with one click and you can extend functionality according to your specific requirements.”

The digital platform is flexible and scalable and is accessible from anywhere after registration, as it can deployed on a global basis.