Building Operations & Maintenance
Techrupting Buildings: How to meet Changing Trends in the CRE industry
Cheeky bot: Good morning! Welcome to Louvre, the world’s largest art museum and historic monument. Would you like a guided tour around?
Man: Yes. I need to book a tour for 4 people sometime tomorrow evening.
Cheeky bot: That’s great! We can pack you in around 7:30PM CEST tomorrow. Will that work?
Man: Yes, I guess so.
Cheeky: I will send you the booking details right away. Is there anything else I can do?
Man: Can you set me up with Mona Lisa?
Cheeky: Sorry the bookings are closed at the moment. I will get back to you when there’s availability. Have a nice day 🙂
“Excellence is going the extra mile to deliver an experience that exceeds expectations”
Technology has made our lives simpler bringing everything – from pizzas to Tesla – within our reach, just some clicks away.
More than changing the mechanics of life, the breakthrough of technology in various fields has transformed, for good, how businesses serve customers.
Be it chatbots for customer service or collaboration tools for organizations, technology has opened gates, unseen before, for businesses to deliver services that exceed customer expectations, transcending to a delightful experience.
“Every customer pleased is a milestone cracked”
With technology invading untouched horizons and changing ways businesses operated before, it takes us to the next big question.
Has the rising tech-wave, that swept businesses, hit buildings?
Real Estate Industry at a technological tipping point
The real-estate industry is at the brink of a technological revolution. With changing operating environments and modernised tenant expectations, the old way of running buildings don’t cut it anymore.
Traditional commercial real estate firms (CRE’s) operating the old-fashioned way, are throttled by digitally-deprived legacy systems, ending up miles behind in real estate race.
Businesses, today, focus more on employee productivity with the dynamics and expectations from workplaces setting new high standards.
What was attractive a decade ago obviously does not hold good now, with the current tech-savvy generation wanting to do away every problem with a few clicks.
“70% of millennial workforce wants to work in a smart office within the next five years”
–Dell & Intel Future Workforce Study
As commercial real estate owner, managing multiple portfolios, why should you care?
Space is key; Occupant experience breaks all locks
There is only one rule to managing buildings and that is set by occupant expectations. Buildings that run efficiently by reducing unforeseen outages and overall operational chaos elevate operating as well as occupant experience.
The efficiency and energy savings from effective management invest modern retrofits that further attract millennial clients. An occupant-focussed CRE churns
- Premium clientele and higher rents
- Better occupancy with reduced vacancies
- Improved retention – 100% happy tenants 🙂
Now for CREs to enhance property value and occupant experience without cost-intensive physical retrofits, there is but one way.
Suggested read: Digital Transformation Guide for Commercial Real Estate Businesses
New-age Digital Retrofits to the rescue!
‘Tech-rupting’ buildings for continuous efficiency, in real-time
Buildings are a powerhouse of data with automation systems like BMS, BAS, HVAC, Chiller, Fire, Security and Power systems burying huge bytes of meaningful data and insights.
Technologies like IoT and AI can leverage these existing automation systems to build the context and platform from data, that derives actionable insights and data-driven decisions in real-time.
Now, what could possibly stir this new-age digital makeover in buildings?
Internet of People, Internet of Things! Potato potàto!
Connecting people with buildings
Have you ever wondered what is amiss in today’s real estate scenario?
There is space and buildings; there is hardware and software; there is data and sensors; What there isn’t is a single, central way for every siloed system to communicate to one another providing a bird-eye view of entire portfolio
“Communication is the bridge between confusion and clarity”
A central SaaS based software suite that communicates with every system, combines
FM with sustainability and connects every building stakeholder – from technicians, to facility managers, to occupants, to property owners – is the need of the hour.
A unified facilities optimization platform for buildings such as Facilio manages the complete lifecycle of building management with
- Centralized help desk and portal for occupants – log, manage and cater to grievances on the go without discrepancies
- Fully mobile work orders and ticketing system for technicians – stay on top of tasks and anomalies to provide proactive service
- Unified ping-me dashboards for owners – grasp portfolio-wide state of affairs, derive insights and drive efficiency in real-time
BOT for Buildings, the AI charged predictive facilities
Take that extra mile for your tenants
With work and life blending more than ever before, occupants have decreasing tolerance to outages and hiccups in workplaces.
An intelligent bot system that uses AI to make sense of the IoT enabled data from existing systems can predict anomalies and prompt actions to the facilities team, preventing catastrophe before it occurs.
With predictive insights and proactive facilities, real estate can transcend from being considered mere cost centres to value drivers.
You can find in our previous blog how a proactive approach to managing facilities can help traditional CRE players be the game-changers providing a delightful built experience.
Well, in a time when the world is innovating every second, change is the only constant. The real estate industry is stirring up to a major CRE Revolution 2.0. that is occupant experience focussed and pivoted by technology.
The wait is only for CREs to tech-rupt buildings for efficiency across portfolio, in real-time because
“What’s dangerous is not to evolve” –Jeff Bezos
At Facilio, we’re continuously rethinking the way buildings are managed – shifting traditional, tactical facilities management towards smarter, predictive facilities experience.
Know more about our product, schedule a demo and access the new real-time facilities with Facilio.
