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by Karo Sadowicz on Jun 28, 2024 12:49:14 PM
PredictAP customers Bridge Investment Group and The RMR Group took to the stage at Realcomm | IBCON to claim their wins in the 26th Commercial Real Estate Digital Innovation—or Digie—Awards, winning for Best Use of Automation in Multifamily/Residential and Commercial Real Estate categories, respectively.
Since 1999, Realcomm | IBcon has awarded Digies to “recognize outstanding companies, real estate projects, technologies and the next generation of smart, connected, high-performance, intelligent building systems.” The Digies are also awarded to individuals and innovators who have had a significant impact on the industry.
Bridge Investment Group’s marquee automation project—their implementation of PredictAP’s AI-powered invoice coding as part of their accounts payable (AP) operations—was also featured as part of the AI/Automation Showcase on the second day of the conference. PredictAP founder and CEO David Stifter was also there, co-presenting with The Related Group on their implementation and outcomes.
“We couldn’t be more proud of our customers. Manual AP work is one of those invisible back office challenges that causes a lot of pain but historically has seen little attention or tech investment,” Stifter said. “Using AI to unlock the value of the AP data in their systems is a novel approach and because of their early adopter mindset, they were able to find success with AI adoption well ahead of their peers.”
Bridge Investment Group has $47 billion in assets under management (AUM), with 56,000 multifamily market rate and affordable housing units, 3,400 single family rentals, and 12.5 million square feet of logistics in a portfolio spanning 13 verticals. Using PredictAP to automate invoice ingestion and coding helped reduce hands-on invoice processing time by 50%, with additional time savings across the invoice lifecycle.
The 2024 Digies also introduced a Rising Star Award for real estate professionals who are beginning to make a significant impact through the use of technology. PredictAP customer and CTIO at Bedrock Detroit, Amanda Gibb, was a finalist for the award.
Congratulations to all the winners and nominees!