Manual processes and new regulations

Before adopting Atticus, Property for Industry (PFI) manually verified the statements in documents such as their AGM documents and their annual report.

The introduction of a new climate reporting regime in New Zealand was a timely opportunity to consider a more streamlined approach to verification, with a particular aim to increase efficiency and reduce risk.

Reducing the room for error

PFI reported that with Atticus, they were better able to share the load of verifying hundreds of statements across multiple teams.

One of the features that the team particularly enjoyed was the ability to manage new versions of the documents they were verifying. When verifying their annual report and AGM documents, PFI was able to see what changes have been made between document versions and automatically carry over any verifications already made to facts that remain the same. The team could feel assured that the final documents were accurate and not misleading.

PFI also used Atticus to publish their first mandatory climate-related disclosures report under the recent amendments in Part 7A of the Financial Markets Conduct Act 2013. They found it easy to find the right evidence to back up statements, particularly when dealing with multiple final revisions with small wording changes. According to PFI, Atticus streamlined the process for them. 

Increased confidence when making disclosures

Overall, the PFI team achieved higher confidence in the accuracy of the documents they publish. Atticus made it easy for managers and executives to review and have confidence in the process used to produce the output. Those senior stakeholders could see what had been annotated, the exact lines in the supporting documents that were referenced, and who did the annotation.

About Property for Industry

PFI is a New Zealand-based real estate investment trust specialising in industrial properties. With a diversified portfolio of over 90 properties valued at over $2 billion, PFI strategically invests in locations offering significant growth potential. PFI aims to deliver value by enabling tenant success, which in turn benefits investors, the industrial sector, and the broader New Zealand economy.