Global economic instability and a transformation in how society views the workplace have churned up more than a few tidal waves for employers. Corporate real estate costs are multiplying. Poor data visibility can make it impossible to gauge workplace improvements. Pressure to measure and manage the organization’s carbon footprint is at an all-time high.
In the recent JLL Technologies (JLLT) webinar, From uncertainty to success: CRE technology transformation stories, panelists emphasized that the period from 2022 to 2025 represents a crucial window of opportunity to identify and adopt the right real estate proptech to manage these modern business challenges.
Organizations with operational tools like IWMS already in place find themselves a step ahead. Their path forward is to optimize existing infrastructure to prepare the business for the demands of the future.
This optimization process may lead to a rethinking of how technology is deployed and managed across corporate real estate. Thankfully, this open-mindedness offers a major upside.
Here are three examples from the webinar of lessons learned by media, software, and higher-ed organizations as they achieved their corporate real estate goals and embraced a more holistic approach to real estate proptech.
Openness to innovation pays off for outdoor media leader
Improving an organization’s approach to technology doesn’t always mean adopting new tools. There’s value in making sure every tool in the current stack is impacting the business to its full potential.
This was the case for one of the country’s largest outdoor media companies. Asset inspections were performed manually on-site, creating significant downtime between when assessments were completed and when that information reached the business.
Partnering with JLLT, the media company took a fresh approach. Using the company’s existing IWMS tool, an app was developed that allowed employees to complete the entire assessment and reporting process while in the field.
In addition to reducing the time and cost of asset inspections, this approach helped to improve the utilization rates of advertising assets and reduced overall risk via better health and safety monitoring.
Consolidated reporting drives long-term improvement for a global technology firm
Decision-makers in all industries benefit from access to reliable, real-time information at their fingertips. This is especially true for heads of corporate real estate asked to derive insights from complex and largely unaligned data streams.
A global technology firm, one that manages over 40 million square feet of workplace across 55 countries, decided to address this issue by harmonizing real estate data sets from across existing functional and regional siloes using their existing IWMS as a reporting hub.
Knowing that this goal would require IWMS expertise and a strategy to educate stakeholders about data literacy and stewardship, the company opted for a new approach and turned to JLLT.
JLLT assisted with the creation of a step-by-step consolidation framework and developed supporting governance processes. This enabled the company to perform regular QA monitoring to pave the way toward more sustainable reporting operations. Recommendations were also made around process and technology upgrades.
Over a period of six months, JLLT was successful in helping the firm automate its data collection and integration processes. The result was real-time data collection rather than the previous week-long reporting delay.
Strategic partnership delivers short- and long-term results for U.S. research university
Most organizations face not just one but multiple technology challenges when it comes to achieving their corporate real estate goals. Paralysis can arise when there is indecision about what to fix and how to fix it.
This was the case for a U.S. research university dealing with a myriad of acute technology hurdles:
• Gaps in technology to monitor space management, assignment, and cost recovery
• Inefficient capital planning processes in need of immediate optimization
• Digital service requests needed to be centralized via a single hub application
To chart a path forward, the university turned to JLLT as its strategic technology partner. Several needs were filled immediately by updating the university’s current IWMS implementation with modules that added new capabilities in space management, capital projects, and operations.
Based on these successful implementations, the university decided to pursue a long-term partnership with JLLT. The goal of this relationship was to ensure the organization was always positioned to optimize its technology strategy in response to changing industry dynamics and unpredictable shifts in the economy.
The university continues to work with its strategic partner implementing a long-term technology roadmap designed to guide real estate operations into the future. JLLT also provides ongoing support for the organization’s new IWMS modules in the form of a dedicated managed technology services team.
Don’t just renew when you can improve
Adopting new technology without a strategy just leads to more operational issues down the road. Instead, organizations need to consider how to get their corporate real estate future-ready right now.
Check out the recent webinar or connect with us directly if you have more questions about using your existing IWMS and workplace technology to get ahead of 2023’s biggest challenges.