When we launched Orbital Witness in Autumn 2018 our initial plan was simple. We wanted to use technology so that those at the coalface, primarily property lawyers, could start and complete due diligence in less time. A little over two years on, and we can proudly say that we are helping hundreds of lawyers at many of the leading law firms in the country, and in-house at numerous other businesses, do just that.
We’re not stopping there. Removing tedious processes and low-value tasks from hard working lawyers is a great start, but that still leaves us with a flawed system. No matter how much more efficient we make the current process, companies and individuals will continue to spend time and money finding properties, making plans, and negotiating without knowing the full picture.
Looking ahead, our goal is to make property transactions radically more transparent, understandable and efficient. We will achieve this through an automated solution – an instant risk rating, supported by data analysis – for any transaction involving property. We envision a revolution in common sense where access to property information is front-loaded and simplified so anyone, anywhere can get an immediate and clear picture of a property before spending any significant time or money.
Our starting point for a new product later this year is going to be UK commercial property finance and investment as these are both areas where painful due diligence processes are prevalent, and where there is the most to be gained from an early warning system. Our vision extends to all types of transaction and property in the UK and beyond.
We don’t kid ourselves that this will be easy. To have a huge impact we need a new way of thinking about property transactions, and a new way of working for those involved in making them happen. That is why we’re joining forces with some of the most forward-looking and influential businesses in the property sector – those who share our vision and want to help by joining our Advisory Council.
We are ready to seize an opportunity that no one else is truly taking on, and bring property due diligence into the 21st century.