The specialist in digital business-improvement has tackled the operating costs and risks of the property developer, as well as its carbon footprint, aiming to become a 100% paperless company soon.
Photo: Felix Hemmerling and Julien Casse, co-founders of kodehyve / Credits © Kaori Anne Jolliffe / Silicon Luxembourg
Kodehyve, a Luxembourg startup specialized in real estate business workflow improvement, has developed a digital platform, powered by Amazon Web Services, which enhances processes in areas such as communication and documentation management.
It has announced a partnership with P&P Promotions, a property developer operating in Luxembourg and Portugal.
Kodehyve’s digitization platform has helped P&P Promotions to reduce its project costs and risks and achieve its environmental and social governance (ESG) targets, both partners said in a press release.
The tool has tackled issues in all aspects and the life-cycle of the company’s real estate projects. These include, among others, the development project planning, the financial analysis and budgeting and the procedures on anti-money laundering, know your customer, and politically exposed persons, up to the invoicing and the post-development communication with clients and partners.
100% paperless soon
With the application, the company could reduce the time spent by its staff in search for lost documents, estimated prior to implementation to about 38 hours per year, per staff member, and 266 hours in total.
“By centralizing information and data into one single platform, Kodehyve has increased the collaborative efficiency among our partners, suppliers, stakeholders, and clients,” P&P Promotions said.
The platform has also helped the real estate specialist to reduce its paper consumption to almost zero: “In 2020, 54,892 pages were printed and exchanged between our company, stakeholders, and customers,” it admitted. “The production of these A4 sheets required a total of 274,460 litres of water and the felling and processing of 5 trees”.
Kodehyve’s technology has also lowered P&P Promotions’ carbon footprint. The company said that it ordered around 14,174 pages of paper supply in 2020. The transport only represented a production of 351.05 kg CO2-emission, according to an internal audit made together with Holon Real Estate, a Luxembourg real estate investment fund.
“This partnership is a great example of what our digitalization platform can bring to real estate industry players, not only in terms of process optimization but also in the achievement of their ESG goals,” explained Felix Hemmerling and Julien Casse, the Kodehyve’s two co-founders.
Founded in May 2020 and headquartered in Luxembourg, the 5-people startup specializes in building collaboration tools to enhance business processes, as well as IT advisory services for real estate agents and property developers.
In order to grow in 2021, the 2 startuppers expect to hire 3 to 6 new persons and move their office in March, either to Howald, Gasperich, or Belval.