Assets transacted and managed using Drooms data rooms surpass 10,000 for the first time
20. April 2021
- Users of asset management software Drooms PORTFOLIO, increased by 87% in Europe in 2020
- Digitalisation pressure ramping up within the real estate industry
- Use of Application Programming Interfaces and Artificial Intelligence set to rise
Frankfurt, 20th April 2021 – Drooms, Europe's leading provider of digital data rooms, enjoyed a successful year in 2020, with the number of users of asset management platform Drooms PORTFOLIO, rising 87% versus the previous year. As a result, the number of assets managed and transacted on Drooms surpassed 10,000 for the first time.
Drooms also proved its resilience to crises during the coronavirus pandemic in 2020. Alexandre Grellier, co-founder and CEO of Drooms, explains: “Our response from customers remains huge. This is down to the fact that in 2019 we invested in our services and increased staff levels in our Operations division by more than 20%. We offer users not only the best product but also the best service possible.”
Increasing digitalisation pressure within the real estate industry
Due to increasing demand from companies for greater connectivity in business processes, Drooms predicts digitalisation will continue to be top of the agenda for the real estate industry in 2021. Application Programming Interfaces (APIs) are becoming ever more important for enabling innovative technologies to work with other systems. Drooms’ API enables virtual data rooms to be connected to other software systems required by the customer.
Drooms sees a growing need for technology on the basis of Artificial Intelligence (AI) and is already focused on supporting the automation of repetitive but nonetheless important and time-sensitive tasks with its range of data room services. The fully internally developed AI backed features include document translation into the preferred language; auto-allocation, which automatically assigns documents to the correct index points; and auto-naming, which can take on time-sensitive document identification tasks.
Alexandre Grellier added: “Artificial Intelligence enables us to access information even more quickly and thereby optimise repetitive workflows. The features we have developed also help to keep human error to a minimum, increase transparency and speed, cut costs and facilitate international collaboration. Asset managers, portfolio managers, brokers, sellers and investors alike all stand to benefit from this.”
Drooms, Europe’s leading provider of virtual data rooms, grants companies controlled access to confidential corporate data across company boundaries and specialises in customised solutions across the entire value-added chain. In addition to securely handling confidential business processes such as commercial real estate sales, mergers & acquisitions and NPL transactions via Drooms TRANSACTION, Drooms PORTFOLIO maps all stages across the entire Lifecycle Asset Management process on a single platform. Currently, more than 25,000 companies across the world use Drooms, including leading global real estate companies, consultancy firms, law firms and corporations such as the METRO GROUP, Evonik, JLL, JP Morgan, CBRE, Rewe and UBS. The software specialists have concluded over 15,000 complex transactions with a total volume of more than EUR 500 billion.