Property technology (proptech) company Dottid recently announced it launched Asset OS, its all-in-one workflow program. The startup company, which helps create efficiency and revenue growth for brokers and asset managers through its proprietary technology, launched in April 2021. Its latest solution looks to transform the CRE industry by integrating workflow and data into one place and consolidating multiple tools’ capabilities into one intuitive interface, saving CRE firms time and money.
The CRE industry currently contributes $2.3 trillion to the U.S. GDP and is responsible for approximately 15.1 million jobs. A number of modern variables, including the growing remote work trend, have led to high vacancy rates across the country — 54.2 percent of the 1.07 billion square feet of office space is currently open for lease, according to CoStar Group, Inc. Real estate companies are adopting more cost-effective strategies and optimizing their processes using technology to stay competitive.
“In order to effectively adapt to the shifts in the massive CRE industry and this period of uncertainty, asset managers and CRE leaders must innovate and leverage technology to unlock new potential and cost-saving opportunities,” Dottid founder and CEO Kyle Waldrep said in a statement. “Dottid is at the forefront of the CRE technology revolution. With Asset OS, asset managers are provided for the very first time with oversight, data transparency, and detailed insights that help them maximize their resources and improve decision-making to grow revenues in any market.”
Asset OS’ features will include an application programming interface (API) connector that allows third-party tools to integrate with Dottid so asset managers can access all their data in one place. The solution will also keep all team members informed of every step of a deal as well as allow users to set approvals, assign tasks, discuss deadlines and track relevant financial negotiations in real time. Asset OS users can project property performance in a graph that responds to deal selections in their pipeline and upcoming renewals.
Additionally, Asset OS allows users to manage construction projects from start to finish entirely in the Dottid platform. This includes approving bids, setting key milestone dates, tracking project progress, tenant improvement, and collaborating with teams. Other key features include real-time stacking plan, encumbrance schedules, property activity, inquiries, leasing performance insights and asset visualizations.
“As a young company competing in the fast-paced Dallas market, we turned to Dottid to help build a more efficient process for tracking our workflow,” Joe Zylka, director of operations at Dogwood Commercial, said. “Dottid allowed us to organize everything in one place, with overall visibility and accountability, and as a result, we were able to perform more efficiently. In only 18 months, Dottid has enabled us to grow our portfolio by 2.5 times while still continuing our high level of service without the need for additional personnel.”