Information management solutions that have helped the automotive industry for years can now support the real estate sector, Sven Krüger, CEO, Eucon, told Real Estate Day.
‘Based upon our experience, we believe that the real estate network, which is less connected now, will be fully integrated,’ he said. ‘We believe that it’s going to be an ecosystem which is digitally integrated and we as a company are there to help make use of existing technology and to provide solutions’.
Eucon has already served many industries in terms of digitalisation, he said: ‘We started in automotive 20 years ago, so we are not a start-up company but a very grown-up company, a world market leader in spare parts information management for the bigger names like BMW’.
Eucon is also involved in the insurance business, Krüger said: ‘We do claims management process digitalisation for insurance companies and we serve 80% of the German insurance market, processing more than 3 million claims a year, making them fully digital so we have a certain competence there’.
The company is now transferring its experience and know-how to the service of the real estate industry.
‘From our point of view we see the property sector hasn’t really been automated at all for years and it is now lagging behind the others,’ he said. ‘We can help to accelerate and to catch up and we are doing this very successfully now for our clients like Union Investment’.
The process brings great efficiencies. ‘This means we can process a document, for example an invoice, within a few hours or minutes, while before it took days and sometimes weeks so this is really a benefit,’ Krüger said.
The process also involves substantial cost-savings from hundreds of euros to a few euros, he said, ‘but the really important and overarching effect is really creating transparency and making use of the data. Cost saving and time saving is good, but it’s all about having the data in a structured way’.