Drooms, Europe’s specialist provider of digital data rooms, enjoyed a successful year in 2020, with the number of users of asset management platform Drooms PORTFOLIO, rising 87 per cent 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 per cent. We offer users not only the best product but also the best service possible.”
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.
Grellier adds: “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.”