PwC and Microsoft develop digital ecosystem for real estate sector
June 23, 2021
PwC’s “Real Estate Digital Ecosystem” is designed to drive forward the digital transformation of real estate companies – the software consists of a cloud platform that can be flexibly expanded upon to include functions from third-party providers.
Frankfurt, June 23 2021
The auditing and consulting firm PricewaterhouseCoopers (PwC) has announced the creation of a digital ecosystem for the real estate industry. Building on the foundations of Microsoft technology and its own expertise in digitalization and transformation consulting, PwC is creating an ERP solution for real estate asset managers that can be expanded to form an open digital ecosystem. A public test phase is scheduled to take place in the second half of 2021.
“With the Real Estate Digital Ecosystem, we are setting a milestone in the area of digital real estate management. The highly rigid structures that still exist belong in the past. Our open and flexible platform is the future.”
The platform is designed to overcome barriers and media gaps within the real estate industry while bringing together technology providers and users. The Real Estate Digital Ecosystem is centered around the asset management process, covering the initial evaluation of a property through to its commercial operation. The cloud-based platform brings together a number of applications developed internally and by external vendors. Microsoft is providing support with its expertise, worldwide network and market-leading technology.
“PwC's ecosystem approach for the real estate sector is centered around the user and based on Microsoft technology. The use and development of the ERP solution is an example of real innovation that is accessible to everyone and counteracts siloed thinking.”
The platform has the distinguishing characteristic of very low barriers to entry – from both an economic and technical standpoint. Modern technology firms within the sector, such as PropTechs and ConTechs, will be able to integrate flexibly into the ecosystem so that they can rapidly enter the market at a global level.
“In 2025, we will see a more efficient real estate sector – the market will be driven by IT companies that are focused on real estate and understand how ecosystems can be used.”
About PwC:
PwC's purpose is to build trust in society and solve important problems. More than 284,000 employees in 155 countries contribute towards this purpose through high-quality, sector-specific services in the areas of auditing, tax advisory services and corporate consulting.
“PwC” refers to the PwC network and/or one or more of the legally independent network companies. Further information is available at: www.pwc.com/structure.
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