Tower360: Collaborative Asset Management in Real Time
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Chakra Banerjee and Julian Vogel, Co-Founders
It is often said that maintaining an asset is a bigger problem than buying it. And rightly so is the case with real-estate asset management. Although the role of an asset management system is very critical to the success of a project, the much needed multi-party collaboration between an asset manager, property manager, and broker is often missing. A majority of software providers lend their services to either one of the stakeholders in a scenario where 80 percent of real estate personnel work on Excel spreadsheets.
With an aim to change the status quo from age-old clunky software to modern-day data-driven platforms, Chakra Banerjee and Julian Vogel, co-founders of Tower360, came up with a Platform suite named T360 (a multi-app workflow platform), which empowers the three stakeholders in real estate with real-time collaboration, simplified workflows, and intuitive user interface in their everyday job.
T360 is a vertically integrated asset management platform that focuses on lean workflows, clean data, and multi-party collaboration between asset managers, property managers, and brokers. "The T360 Platform suite acts as a single point of truth for data around an asset from entire building data, floor plans and leases to cash flows around significant commercial portfolios all accessible via web and mobile platforms," says Chakra Banerjee, Founder and Co-CEO of Tower360.
Tower360 Platform offers asset managers the most modern and intuitive experience at work. The T360 Platform suite comprises multiple products encompassing Asset management processes, namely: T360 Leasing, T360 Marketing & Budgetting, T360 Analytics & Reports and a Data Lake based on T360 APIs. T360 Leasing is an end-to-end leasing platform that covers the end-to-end workflow from inquiry, proposal modeling, and approvals, and finally to contract generation. T360 Marketing, on the other hand, allows asset managers to download flyers with crucial information around any asset or portfolio with a single click and can send mass emails to potential tenants or existing tenants informing them of current or future vacancies, while collaborating with brokers about marketing budgets and to-do lists.
Furthermore, with T360 Analytics, asset managers can gain information regarding portfolio benchmarking (comparing current leases to market rent) and vacancy analytics from its multiple dashboards while asset managers have better know-how about brokerage performance. To top it off, T360 APIs, an ensemble of 450+ APIs, is the core of the T360 technology, building on big data algorithms, which clean and collate data across multiple systems to aggregate each portfolio for an asset manager globally. "APIs are bundled into a micro-service built on the most modern Java Spring technologies running on cloud independent platforms as per client’s needs, in order to achieve global scalability," says Banerjee.
T360's modular, microservices architecture allows a high level of customization across multiple big clients owning global portfolios. "For instance, an asset manager in London with properties in Lisbon can use T360 Platformto see each data point across his asset, units and leases while co-ordinating with his team in real time," explains Julian Vogel, Founder & Co-CEO.
It comes as no surprise that the T360 platform was the solution of choice for Switzerland's largest commercial real estate landlords Swiss Prime Site AG when their asset managers faced challenges in figuring out vacancies in the entire portfolio of 192 commercial properties spread across Switzerland. “After the implementation of T360, they have a real-time overview of vacancy down to the unit level,” says Vogel.
Even though a startup, Tower360 has already achieved prominence in its short trail with the road leading from commercial real estate to discover other asset classes like residential and more. The prospects look bright as the team will be working on artificial intelligence and blockchain for contracts to maintain trust and avoid faulty human errors. In addition to offering leasing, asset and portfolio management and data analytics, on the cards are plans to offer automated contract generation of complex commercial contracts in office and retail space. The Tower360 team is en route to provide an end-to-end real estate solution, which will also include cost calculations and big data analytics tailored to the requirements of every asset manager.