New form of software CRx: Commerz Real digitalises transaction process
One-stop-shop solution allows for scaling of investment opportunities
Licensed usage by other market players as possible basis for new business model
Commerz Real has developed a new form of software so as to digitalise its transaction process, and thus make this faster and more efficient. At the heart of the product – which has been named CRx – from the company’s own digital factory, Digitalwerk, is an online platform which reproduces the entire transaction process, thus merging what have to date been fragmented and in part manual processes, incl. product allocation and reporting, and making these accessible worldwide at all times. This includes, for example a scanner which records and classifies all offers and exposés, before making a preliminary assessment on the basis of location and market data. “With CRx we have taken an important step towards our goal of becoming a digital asset manager,” says Henning Koch, the CEO of Commerz Real. “Above all the automated selection of the more than 3,000 exposés that are submitted to us each year is a major gain in terms of efficiency.”
According to Commerz Real among the benefits offered by the software are enhanced processing speed in early phases of the transaction, the avoidance of unnecessary processing duplication, enhanced transparency regarding the transaction pipeline, and greater legal and regulatory certainty with respect to the initial assessment as well as the allocation and the entire transaction process. Furthermore, CRx lowers the error ratio and thanks to partial automation reduces non-value-generating activities such as exposé recording and evaluation. The cloud-based software can also be used on mobile devices and facilitates real-time collaboration. “And so our investment managers can immediately check on a potentially interesting building on their mobile phone as they drive by,” explains Koch.
“With this one-stop-shop solution we are taking our transaction business into the digital world,” says Florian Stadlbauer, Head of Digitalization at Commerz Real. “In this respect it was above all of importance to us that thanks to simple and intuitive user operation, we create so-called ‘joy-of-use’.” The application is virtually unique throughout the industry, and Commerz Real is already negotiating with other asset managers on licensed use of the software. “In this manner, CRx could undoubtedly contribute to the development of a new business model,” adds Stadlbauer.