How Hines is revolutionizing data quality and efficiency with PRODA
Read about Hines’ experience of PRODA
Collected, standardized, error-checked rent roll data across:
261
Properties
11
Countries
46
Formats
Resulting in measurable increase in data comprehensiveness and quality, with:
34% Increase in data captured in one instance
(As at May 2024)
About Hines
Hines is a privately owned global real estate investment development and management firm with a presence in more than 380 cities in 30 countries. It has over $94bn of assets under management and provides third-party property-level services for more than 101m sq. ft of assets.
The Solution
While Hines needed to make their processes more efficient, they were looking for a solution that did more than just automate tasks. They wanted to ensure their data was extremely accurate and useful.
To streamline its global aggregation process, Hines wanted a software solution that was powerful enough to standardize the data across its entire portfolio and yet user-friendly enough to not impede the day-to-day operations of its local teams.
When they searched for a more efficient and effective way, many of the solutions they found on the market were not always 100% accurate, truly automated, or fast. This meant additional time and resources were needed to ensure the data was completely reliable and aggregated to provide a global view.
The Outcome
In contrast to other market solutions, PRODA stood out as extensible, dependable, data-driven, and fast. PRODA’s system allowed Hines to choose which data points were critical for the firm and to focus only on information that truly impacts investment decisions.
After choosing PRODA, Hines found exactly what they were looking for. PRODA didn’t just automate data collection and analysis; it significantly enhanced data quality and streamlined their workflows.
The initial setup involves an easy and intuitive data entry process that guides users to high-quality submissions, with subsequent uploads taking less than five minutes.
Throughout the initial rollout, the PRODA Customer Success team set up weekly strategy sessions with Hines’ data experts and provided ad hoc onboarding or troubleshooting sessions with local teams.
PRODA’s Product team proactively sought out the data team’s feedback to improve Hines’ user experience, which led to the implementation of new, in-app project management tools and tenant-level data enrichment.
The Results
All data for 261 assets is now in the same place and format, adhering to the Hines standard that requires all rent rolls to have specific fields in a specified layout.
PRODA’s transparent data transformations and built-in data checks have significantly increased the comprehensiveness and quality of the portfolio’s data. This is exemplified by one country’s increase in required fields by over 30%.
PRODA has been more than a tool; it has been a true partner. With the exceptional dedication of their team, PRODA’s impact goes beyond technology. It’s about the people and their commitment to our success.
Adam Hastings
Chief Data Officer, Hines
By partnering with PRODA, Hines is achieving what they set out to do: to improve their data accuracy and operational efficiency. As a result, they highly recommend PRODA, both as a platform and as a team, to any other investor looking to level up their data.
