Invesco had several data room solutions to choose from. “Of course, we reviewed the options that were available. Important criteria we considered were usability, access control, workflows within the platform, and costs.” Not only was the performance of the platform highly relevant for their selection process, but also the services offered. “It was important for us to know that the data room provider not only has a user-friendly platform with smart features, but also manpower with expertise behind it.”
Ever since their onboarding, the Drooms Real Estate Services Team has supported Invesco with the ongoing management of their data rooms. “Drooms was flexible enough to even develop a project-specific index for us, which was great.”
The international quality is another important criterion Invesco was looking for: “In Europe we manage 208 assets across 14 countries, one of the strengths of our organisation is our local presence in the market, we also expect this from our partners. Drooms European platform and local presence in our key markets was crucial for our decision process,” Dieter explains.
Dieter Zeiser explains that he sees himself as an optimist regarding artificial intelligence. “I definitely see more opportunities than risks when it comes to AI. There is so much potential in AI when it comes to data extraction and analysis.”
However, he also highlighted the risk of data protection, depending on where the data is stored and with which regulations this platform is compliant. “Companies should have a detailed look into what happens with their data and where it is saved.” With Drooms, Invesco and all other clients can rest assured their data is being protected with the highest security measures available. This includes mirrored and georedundant system set-up located in the EU, GDPR compliance, secure data transfers, ISO certifications and system stability. The powerful AI used in many features in the data room is also developed in-house by a dedicated team of experts.
The document translation feature is a staple for the Invesco team. The tool allows for the instantaneous translation of various file formats without having to leave the platform. It is currently available in seven languages (English, German, French, Spanish, Italian, Portuguese and Polish), with more to follow in the future.
“From the point of view of a global investment manager, the feature is very helpful. Cross-border transactions are increasing, so easy document translation will remain invaluable,” Dieter adds.
Over 60 employees at Invesco currently use the data room and are spread across 7 offices around Europe. “We use the platform not only for transactions, but also for many ongoing activities in our investment management process.”
By utilising Drooms, Invesco has significantly improved their document management processes, ensuring efficiency, security, and readiness for investment management processes. The platform’s robust features and dedicated support have made Drooms an important tool for Invesco’s smooth operational process flow.
