Modernizing the CRE Tech Ecosystem Across Three Pillars
Office/Industrial/Retail • 25m
Commercial real estate (CRE) owners and operators are overcoming a big challenge that has long afflicted the industry. On one hand, it’s critical to operate as efficiently as possible to keep costs under control and net operating income (NOI) high. On the other, tenants have growing expectations and demands. Technology has, in many ways, been touted as the answer, and many CRE companies are modernizing with tech solutions. The overarching intent driving such investment by CRE owners and operators has been to discover more efficient ways to operate buildings, without sacrificing tenant engagement and satisfaction. However, the path to putting this into practice in most CRE firms hasn’t been that simple. As a result, owners and operators are struggling with a complex patchwork of systems that often cannot be integrated into a cohesive ecosystem and they lack technology partners with sufficient domain experience and technical depth. To address these challenges, owners and operators must standardize on modern, cloud-based systems with an open architecture that facilitates data flows between key platforms. And, tech stacks need to be built based on three primary pillars: 1)Finance & Accounting: billing, AP, investor reporting, 2) Building operations: asset management, engagement, engineering and 3) Leasing: tenants, occupants, consumers. This session will feature Scott Morey, executive director of One11 Advisors, Tim Curran, chief executive officer of Building Engines, and Daniel Cozza, chief product officer of Building Engines, who will dive deeper into the concept of the ‘three pillars’ of CRE, the tech gap that exists in the industry and how to bring the industry the tech solutions it wants and needs to drive business growth.
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