Company OWNER has created the first digital tool in Latvia for property management

OWNER is a Latvian company working in the property management industry and has created the first digital solution for property managers in Latvia – property management platform PŪCE. The platform provides users with a structured way to organise property maintenance, efficiently oversee completion of works and store all information related to the property in one place.  Platform PŪCE serves as a digital property passport and a tool for work organisation in real time. 

Pauls Upenieks, founder of the company, has been working in property management for over 10 years and the idea of creating this new solution was born out of necessity: “It is often difficult for owners to track what is going on at their property. Documents and other information is usually stored by the manager, in Excel sheets and on note-paper, or simply in the minds of the people who are managing the property. And so, if the manager changes, all history and statistics are lost.”

This problem was the starting point for the development of the PŪCE platform. The platform provides owners with an easy way to store information, organise work in a transparent manner and the opportunity to take decisions based on objective data. “I saw a need for a solution where the owner themselves could store and manage all information related to their property instead of having to rely on the property manager,” Mr Upenieks explains the essence of the platform.

To begin developing the PŪCE platform in 2019 the company applied to join the business incubator set up by the Investment and Development Agency of Latvia (LIAA) in Valmiera. The main goal for joining the incubator was to obtain financial support which made it possible to create the platform, its design, test it out and develop necessary improvements. “The LIAA incubator provided us with very practical support. We received financing which helped us create the visual image and carry out a pilot project. Another important factor was that the incubator gave us a chance to work with industry experts and mentors and be a part of a dynamic business environment.” 

Over the course of four years (2019-2023) the company made active use of the opportunities provided by the incubator, and this year the company applied for the programme “Support for the digitalisation of business processes” implemented by the European Digital Innovation Hubs in Latvia: the Latvian IT Cluster and the Digital Accelerator of Latvia. “We are constantly and closely following what options are available, because the operation and further development of the platform requires immense investments,” Mr Upenieks says.

The PŪCE platform is currently mostly used by commercial property managers. The customer portfolio of OWNER includes such businesses as commercial space and warehousing complex Mūkusalas Biznesa Centrs, heating company Madonas Siltums and others. Mr Upenieks goes on: “Currently our platform is being used by companies and organisations which value and need transparency and accurate information management. The next step will be to offer this solution also to home-owner associations managing their own residential buildings and state-owned companies.” While today the company is mainly focused on securing its market position in Latvia, it does not exclude the possibility that in future it may offer its product abroad as well.

Mr Upenieks believes that the LIAA business incubator and other state support facilities are extremely useful for entrepreneurs. “If you have a good idea, but lack resources, the support provided by the incubator can be the springboard you need. Not only does the LIAA incubator programme give you a chance to obtain financing, but it also promotes exchange of experience and knowledge that you need to successfully operate your business.”

Since 2024, the Business Incubation Aid Program has been implemented by LIAA representative offices in Latvia and any company up to the age of 5 operating in the supported sectors can apply for the programme.

This article has been produced with financial support from the European Regional Development Fund, Small and Medium Enterprises Programme, Incubator Subproject.