Union Investment

Union Investment Success Story

Automated extraction of consumption data for sustainability reporting

Discover how Union Investment Real Estate GmbH collaborates with Eucon to overcome the challenges of ESG reporting effectively.

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Overview
Challenge
Solution
Added value
Contact

Übersicht

How Union Investment masters the challenge of ESG reporting

By automating the first step in the reporting chain, Union Investment was able to create a solid data basis for its ESG tool. The complete automation of consumption data extraction has accelerated the resource-intensive process of data capture by an impressive 80%. The modularity made it possible to extend Eucon’s invoice management tool SmartInvoice to include SmartSustain’s innovative function for extracting consumption and cost data from documents.

The structured data is captured using OCR scanning and the classification algorithm and transferred seamlessly to Union Investment’s ESG tool via an interface. This optimization not only saves time for the team, but also significantly improves data quality and data transparency almost in real time. The modular structure minimizes bottlenecks in data acquisition, optimizes the use of the ESG tool and supports the efficient implementation of ESG measures.

Union Investment

Processes accelerated by 80 %

“With Eucon as a long-term partner, we have succeeded in fully automating consumption data extraction for ESG reporting with SmartSustain for the entire portfolio. Through this groundbreaking collaboration, we have been able to accelerate our operational data acquisition processes by 80% and ensure higher data quality.”

Nina Laine
Sustainability Management

The challenge

Energy crisis and ESG reporting obligations: New approaches required for the real estate industry

The climate and energy crisis and the introduction of European reporting requirements have presented the real estate industry with major challenges – the provision of consumption data and information on CO2 emissions for each building. Unfortunately, this data is often difficult to access and requires time-consuming manual data collection.

ESG tools are used everywhere, but the data basis to bring them to life is lacking, and many resources are expended on precisely this process.

The solution

Automated data extraction from invoices

SmartSustain starts at the beginning of the reporting chain: data acquisition. Based on existing information from consumption bills and energy certificates, the relevant data is extracted and structured using OCR scanning and Eucon’s classification algorithm. This new information is directly incorporated into Union Investment’s ESG tool. Union Investment has been a loyal customer of Eucon’s invoice management tool SmartInvoice for years, using it to process invoices.

With SmartSustain’s supplementary classification logic, we were able to extend the existing processes to extract consumption data in addition to the data for invoice management. Eucon’s modular approach is clearly evident here. In addition, energy certificates can be imported via drag & drop to extract further data.

Eucon Digital GmbH

Integration into existing infrastructure

“Thanks to the modular structure of Eucon’s product portfolio, we were able to perfectly link SmartSustain with the existing invoice management tool SmartInvoice. Within a very short time, we managed to integrate SmartSustain into the existing infrastructure.”

Christine Grondkowski

Director Real Estate Products

Added value

Data basis for ESG reporting

The automated extraction of consumption data has not only accelerated the time-consuming data collection process by an impressive 80% but has also freed up valuable human resources that can now be better used to implement ESG measures. The seamless integration of OCR scanning and advanced classification algorithms has significantly improved data transparency. The integration of the extracted data into Union Investment’s existing ESG tool in almost real time not only optimizes the use of this tool, but also sustainably increases the efficiency of implementing ESG measures.

Questions? Reach out to us!

We look forward to exchanging ideas with you! Simply fill out the contact form and we will get back to you promptly.

Christine Grondkwoski

Director Real Estate Products