Homegrown property technology company Inventi has seen record sales of its cloud-based property management solution this year and now eyes to become the first to go regional, and one of the first homegrown technology start-ups to add foreign clients to its roster.
“As more and more real estate companies are realizing the value of digitization, we are on track to more than double last year’s revenues in 2021,” said Joseph Tay, managing partner of Inventi. Some of the key accounts that Inventi was able to close in 2021 include one of the country’s largest retailers, a top three construction company, a top five real estate developer, and two listed companies.
“Inventi has now been implemented into more than 2 million square meters of real estate… in more than 30 cities nationwide,” Tay said. “Our clientele is also more diverse than ever, covering commercial and residential buildings, retail, schools, and even hospitals.”
Eds Encarnacion, Inventi president and chief technology office, said the company is setting its sights regionally across Southeast Asia, to accelerate the digitization of property management in countries like Indonesia and Vietnam.
“We’re looking to implement AI and machine learning into our product so that the system itself can solve specific issues, and property managers can be left to handle the bigger concerns,” Encarnacion said.
The company wants to expand to an even wider range of sectors and property categories, from airports and transport terminals, to power plants, factories, and logistics facilities.
In Metro Manila alone there are 20 million square meters of untapped real estate assets and more than double that in the entire country, giving Inventi scope to vastly expand its portfolio.
The company is also continuously refining its core software solution to address the future needs of properties.
“With sustainability becoming a focus in the real estate industry, we are looking at solutions to help properties track their energy usage and easily generate audit reports for green building certifications,” Tay said.
Inventi can customize its software to fit the diverse needs of its customers.
“We understand that each property management team has their own way of doing things,” Encarnacion said. “While we do have a standard solution, we constantly configure and customize this to fit the specific needs of our clients.”
He added: “As with any industry, property managers are realizing that the best way to deal with the challenges of the pandemic is to digitize and automate their processes with technology.”
“What we’re trying to do in the Philippines is already standard in the most mature real estate markets in the US, Europe, Singapore, and Hong Kong. The market is already moving in this direction, it’s just a matter of time before digital property management also becomes standard in the Philippines and other developing markets,” Encarnacion said.
