PMG Optimizes Processes with Virtual Data Room

Project name: Premier Marketing Group Client Projects | Industry: Residential & CommercialLocation: Germany

Within the framework of a marketing and sales specialization, PMG provides transaction management services and supports an extensive due diligence process for the property transactions of a large American investor in Germany. The full scope of the firm’s services includes process management and operations, marketing and communications, sales and transaction management, and training and media.

Challenges

  • The complex process for acquiring and approving documents relevant to a property transaction. 
  • Coordination of all those involved in the transaction process to ensure the availability of all relevant documents. 
  • Gaining the trust of project bidders – a key success factor. 
  • Requirement for transparency and completeness in the processing of property transactions, ensuring that documents are up to date. 

Solutions

  • Use of virtual data room for qualifying and approving data in real estate transcations. 
  • Availability of documents to bidders for the due diligence process. 
  • Prompt answers to bidders‘ questions during the Q&A process. 
  • Efficient handover of all transaction documents to the buyer on execution of the sales contract.

Results

  • Significant reduction of the effort involved in manually maintaining document lists.
  • Timely responses as well as transmittal of documents and document updates.
  • Savings of three to five hours of administrative work per week. 
  • Intuitive operation, resulting in a high level of acceptance among all parties involved in a transaction.

 

*Conject, which delivered this project, was acquired by Aconex in April 2016.

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