OSCRE to launch new standard
OSCRE (the Open Standards Consortium for Real Estate – which, readers should not need reminding, used to be PISCES in the UK), has announced plans to develop a new standard to facilitate improved performance reporting for property investment firms globally. This latest initiative from OSCRE will be launched simultaneously in London on May 11th at ING’s London Wall Offices, as well as in the US in order to drive the creation of a truly global standard. The explanation is that investment firms face increasing challenges around the management of performance related data and the risks associated with inaccurate, infrequent reporting. By creating a data exchange standard OSCRE will enable property investors across the globe to produce speedy, more frequent and structured management reporting, saving time and cutting costs associated with the collation of accurate data across complex international systems.