Reff & Associates | Deloitte Legal launches SecuRE, a proprietary digital tool that was created to help real estate owners and tenants manage regulatory compliance requirements, regardless of the kind of property they own or use and of the industry in which they activate. The web-based app facilitates the collection, review and archiving of permits, contracts, authorizations and any other regulatory document and allows users to archive and manage online the entire compliance process, to prioritize and to project manage the remediation process in case on non-compliance. SecuRE also integrates the legal knowledge of Reff & Associates | Deloitte Legal’s experts in the real estate regulatory compliance field, by indicating to users what kind of documents they need based on the information about the real estate asset they provide within the app.
“The real estate regulatory compliance area has always been characterized by cumbersome bureaucracy and overwhelming volume of paperwork, and the current technological advancement has highlighted more than ever the need for a way to increase its effectiveness and its accuracy. In this context, our real estate practice has created SecuRE, a tool unique on the market, that allows its users to digitalize, for the first time, this type of activity,” stated Irina Dimitriu, Partner at Reff & Associates | Deloitte Legal and Head of the real estate practice.
SecuRE users only need to answer a questionnaire regarding the property they own or use and the app generates the list of required documents, as per the regulatory requirements currently in force. The list of necessary documents will be updated in line with the legislative evolution. Once the users upload the documents using the online form, the app generates a report flagging non-compliance situations and applicable sanctions and risks, based on which it guides its users to set priorities for remediation and helps track progress towards full compliance. It also notifies users whenever there is a change in applicable regulatory requirements caused either by changes in legislation, by expiration of validity for various permits or by invalidation due to changes in activity.
The app provides various benefits from a risk management perspective, as it reduces the likelihood of sanctions for failure to comply with regulations, including personal (criminal) liability for the legal representatives of the company using it, as well as the risk of human errors. From a financial perspective, the app reduces compliance-related costs, while from a workforce perspective, it reduces the time necessary to access the documents stored, with the help of its structured and easily navigable archive, it simplifies the handover between the team members in charge with the real estate regulatory compliance and it can be used 100% online, which makes it ideal for remote work.
SecuRE is a cloud hosted, Oracle platform, embedding the highest degree of security systems and protocols in place, so it provides safety of the electronic database it creates for each user.
For over a decade, Reff & Associates | Deloitte Legal has been recognized as a leading Romanian law firm in real estate and construction advice, having been involved in the largest real estate development projects and transactions, often involving complex corporate structures and cross-border finance. The specialized team is recognized by international independent rankings such as Legal 500.