As part of this partnership, Drooms and Coyote Software are aiming to use their complimentary products to anticipate and develop the future technology trends in the property sector.
Coyote Software enables real estate investment managers to track details of assets available for purchase and filter them using bespoke criteria, providing the ability to review more deals. Coyote are looking to improve these services with the secure analytic capabilities that Drooms can offer.
Drooms provides virtual data rooms (VDR), which offer Coyote’s service users more analytical data and predictive power to help facilitate more informed bids.
Drooms’ VDR products can also be used alongside Coyote to manage the documentation involved in acquisitions, sales and managing assets throughout their lifecycles.
What blockchain technology means for the property sector
‘A powerful synergy’
Rosanna Woods, managing director UK for Drooms, commented: “There is a powerful synergy between our products and Coyote’s. We also share a vision of where the real estate industry is heading and the innovations that will be required to provide the necessary technological solutions over the next few years.”
The companies’ compatible products mean the partnership will involve integrated co-operation.
“Working with best-in-class providers has helped to make Coyote the product it is today,” explained Oli Farago, chief executive officer at Coyote. “There is also a great cultural fit between us — Drooms has the same commitment to delivering client-led solutions and we are both interested in integrations that can add value to our respective products.
“The need for cutting-edge technology is set to increase sharply in Europe’s commercial real estate industry as competition for assets hots up among institutional investors who can no longer generate the returns, they need from their bond portfolios. CRE investment managers will have to operate more efficiently to compete in a market that has traditionally been behind the technology curve and they will increasingly need propositions such as those offered by Coyote and Drooms.”
