Successful Danish solution facilitates insight intelligence in real estate
Data has become the new gold, but the trick for business owners is to understand how to make data-driven decisions. That is both essential and business critical. Data that not only provides a historical overview of the past, but also a dynamic picture of the current situation and, not least, can make an educated prediction about the future development of the business.
This also applies to PropTech and Real Estate, where there is a need for platforms that can tie data from different specialized or vertical solutions together in a manageable way. That was the goal of CEO Mads Pihl Sørensen, when he established the company Yavica 5 years ago, and from the beginning he approached the challenge in a completely new, but in fact quite obvious way.
Close partner with Microsoft
“Because data integration is so important, I chose from the very beginning to collaborate with one of the world’s largest IT suppliers, namely Microsoft. Their Dynamics CRM technology forms the entire foundation of our solution which means a wide range of advantages. Among other things, it is an open system with endless possibilities for integration and development”, says Mads Pihl Sørensen.
This means that Yavica, through its partnership with Microsoft as Gold Partner, stands very strong. In the light of the company’s ambitions, this is a very big advantage. Yavica has a goal of doubling both turnover and the number of employees over a period of 3 years. The message is that the company is in tremendous growth because its products and services have hit jackpot in the market.
A platform that spans widely
“We don’t just provide a software solution. We have built up a great deal of knowledge in relation to the potential of thinking in digitization within PropTech and Real Estate, including integration of Artificial Intelligence and Internet of Things. In this context, digitization is clearly about being able to integrate data”, Mads Pihl Sørensen continues, emphasizing that the companies that are able to do so will win in their respective markets.
Yavica is one of the co-founders of PropTech Denmark, but in reality, the company’s platform spans a lot wider than just the narrow solutions that typically solve a very specific need. Yavica’s platform covers the entire spectrum of Property Management and Facility Management as well as the more commercial sides of Real Estate, like handling the loan side and all kinds of financial transactions.
Driving and enabling added value
“Historically, property management has been locally based in the individual countries, but as ever larger players in the form of investment funds and pension funds have entered the scene of international investments, this has changed. Today, we have 80 customers in 40 countries, which include some of Europe’s biggest property managers and investment companies”, Mads Pihl Sørensen elaborates.
This very broad approach to Real Estate, not many other companies can offer internationally, and as Mads Pihl Sørensen defines it, it is all about offering property management with the opportunity to add added value to customers in the form of support for integration of virtually all conceivable kinds of specific PropTech solutions. This is possible, among other things, thanks to the close cooperation with Microsoft.
We can be very agile
“The commercial properties are relatively simple to manage across national borders because the leases are largely the same all over the world and the area is not nearly as regulated as the private residential rental market, where the tenants are protected by many local regulations. At the bottom of our solution, Microsoft manages bookkeeping rules, VAT rules and tax rules, while we can concentrate on the specific rental conditions.
This means that we can act very quickly when, for example, we get a customer in a new country, so there is no doubt that our cooperation with Microsoft is of great importance for us to win as many cases as we actually do”, Mads Pihl Sørensen explains. At the same time, Microsoft’s massive investment in the business market through their Dynamics ERP solution naturally also means that success is dripping on to Yavica.
“Our solution covers a very broad range. Thus, we can also handle the management of loans, financing and internal transactions for customers. In itself, it may not have much to do with property management, but is a consequence of how the industry has developed seen through the international lens. Of course, we have to be able to handle that”.
CEO of Yavica Mads Pihl Sørensen.
A data model for all functions
In addition, Yavica has consultants who are not only familiar with their own solutions, but also know the entire Dynamics ERP platform, which today is increasingly integrated with the Microsoft Dynamics CRM platform. However, regardless of what other industry- or subject-specific solutions are connected to Yavica’s platform, it is important to emphasize that all functions run on the same data model.
“This is one of our greatest strengths, not only in order for customers to get the best opportunities for insight into their business, but also to looking at the future. The strength of Microsoft’s technology is the ability to integrate with, for example, solutions powered by artificial intelligence and sensors powered by the Internet of Things. This is very difficult if you don’t run on the same data model”, says Mads Pihl Sørensen.
Same system solves all needs
He established Yavica 5 years ago. Today, the company has 100 employees, and the goal is to be 200 in just 3 years. Furthermore, Yavica has recently opened new offices in New York, USA and London, UK. The responsibility for the development lies in Denmark, while two development centers are located in India and Romania. Mads Pihl Sørensen himself has never written so much as one line of code, but with a background as Finance Director in Real Estate coupled with the ability to think logically and understand the customers’ needs help to drive the company in the right direction.
“In reality, our concept is actually based on a quite mature solution, namely FlexProperty, which dates back to my time in the IT company CGI. When I stopped to establish Yavica, I bought that part of CGI’s business and in collaboration with Microsoft, we have succeeded in creating a complete ERP and financial system where our customers can run their entire business”, Mads Pihl Sørensen concludes.
A future-proof solution
The average real estate company relies on several different software solutions to run its business, resulting in maintenance, data and upgrade challenges. To avoid these challenges and drive efficiencies and cost savings, Yavica offers FlexProperty – Microsoft Dynamics 365 for Real Estate, a single, integrated, all-in-one system that covers all aspects of property management, automates manual processes and eliminates duplicate information.
Yavica is a cloud-based solution, which makes it possible to integrate with a wide range of industry- or subject-specific applications on one and the same data model. It is also a future-proof concept that makes it possible to work with Machine Learning and Artificial Intelligence with a view to integrating, for example, sensors and Internet of Things technology.
See more here: www.yavica.com