REmaap: data aggregation in four steps is a big time saver

Data can be viewed as a problem, given the daunting amount available, but managing data is the best solution. Real Asset Media’s Data Uncovered series of events and articles aims to showcase and explain the best solutions available for the CRE sector.

In “Aggregation, normalisation and validation”, the latest briefing which took place online this week, a specific case study illustrated how NTrust Infotech’s REmaap platform works in practice and how the different steps produce the final result.

It is the case of a major global investment manager with over 150 properties in different asset classes, from offices and retail to residential, hotels and I&L.

“In this case study, we took historic data from the client and over three months did the initial client set-up, then they flicked the switch and it turned live,” said Radha Krishnaraj, vice president solutions and technology, NTrust Infotech. “Now the 150 rent rolls are processed and analysed in five days, when it used to take weeks if not months to achieve the same result.”

The time-saving element is crucial, but so is the accuracy factor, as the client got an accurate report on what was actually relevant to them.

A change log is created between last month and the current month for each property, which compares the tenant occupancy and tenant monthly base rent with the previous month’s data and sends automatic notifications of any changes, such as an increase in rent from month to month.

The workflow is then checked by the client: the property manager can approve the change log and move it for upload into data repository or provide comment for any change, sending it back to the NTrust team, for example if there was a rent review which was not processed in the system.

Once the validation is complete, the data is sent directly to the client’s chosen system or, in most cases, to a property system or data warehouse. “All this is transparently done, so that both parties benefit from the validation process,” said Krishnaraj.

The REmaap system’s data aggregation workflow tracker has four major steps: document submission, data ingestion, variance analysis and data consolidation.

The first step is when the property manager uploads into REmaap the documents, which are then analysed and quality-checked. Alerts are sent out if they are incomplete, or if they require clarification (for example, if individual tenant details are not available, the ‘humans in the loop’ will ask for them).

The second step is data ingestion, converting all files that are ready for processing to a standard format. Once they have been formatted, they are ready for processing and are moved on to the REmaap platform, which keeps a tab on all data coming in and any changes in tenant details, recurring charges and so on.

The third step is variance analysis, checking for any discrepancies on a month-by-month basis. “By conducting these checks, NTrust maintains data integrity and minimises discrepancies in the rent roll information”, said Krishnaraj.

The fourth and last step is data upload and consolidation with an Inflow Metrics report, an automated follow-up process from REmaap.

“A similar workflow tracker can be used for financial information, so that any discrepancies can be identified,” said Krishnaraj.