The Leader Magazine

SEP 2016

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52 SEPTEMBER 2016 F rom the boiler room to the board room, there is no mistaking the groundswell of technology-based no mistaking the groundswell of technology-based no mistaking the groundswell of technology-based advances affecting corporate real estate (CRE). advances affecting corporate real estate (CRE). advances affecting corporate real estate (CRE). Everywhere we turn, we seem to be greeted – if not Everywhere we turn, we seem to be greeted – if not Everywhere we turn, we seem to be greeted – if not bombarded – with new technologies that promise to fundamentally reframe the value proposition of CRE and fundamentally reframe the value proposition of CRE and fundamentally reframe the value proposition of CRE and fundamentally reframe the value proposition of CRE and our organizations' operations and assets. With each new innovation, the potential for technology to reinvent, if not innovation, the potential for technology to reinvent, if not disrupt, our profession comes ever more into focus. What do we mean by 'technology?' For years, when we talked about technology in CRE For years, when we talked about technology in CRE For years, when we talked about technology in CRE circles, we were mostly referring to the basic tools and sys- tems used by internal CRE teams and service providers to tems used by internal CRE teams and service providers to tems used by internal CRE teams and service providers to administer leases, manage projects, or track activity such administer leases, manage projects, or track activity such as lease administration, project management, work order management, and the like. Over time, the focus shifted to management, and the like. Over time, the focus shifted to management, and the like. Over time, the focus shifted to conversations about integrated workplace management systems (IWMS), which promised to provide integrated, systems (IWMS), which promised to provide integrated, end-to-end solutions for CRE teams. The next phase of end-to-end solutions for CRE teams. The next phase of technology involved a rapid proliferation of analytical tools, technology involved a rapid proliferation of analytical tools, technology involved a rapid proliferation of analytical tools, technology involved a rapid proliferation of analytical tools, predictive modeling, and data visualization – often referred predictive modeling, and data visualization – often referred predictive modeling, and data visualization – often referred predictive modeling, and data visualization – often referred to as "business analytics and intelligence" – and the quest to as "business analytics and intelligence" – and the quest to as "business analytics and intelligence" – and the quest to as "business analytics and intelligence" – and the quest to unlock the potential of "big data" for corporate real estate. Now, "smart buildings," "building automation," and estate. Now, "smart buildings," "building automation," and estate. Now, "smart buildings," "building automation," and estate. Now, "smart buildings," "building automation," and "building robotics" – solutions that promise breakthrough "building robotics" – solutions that promise breakthrough cost reduction, occupant engagement, interactivity, and cost reduction, occupant engagement, interactivity, and productivity, as well as reduced risk – are fi nding their way productivity, as well as reduced risk – are fi nding their way productivity, as well as reduced risk – are fi nding their way into the limelight. Venture capital continues to fund ever- into the limelight. Venture capital continues to fund ever- into the limelight. Venture capital continues to fund ever- into the limelight. Venture capital continues to fund ever- more innovative tools and solutions, several of which are certain to fi nd their way into the mainstream. Where are we now, and where are we headed? "How," you might ask, "can corporate real estate executives make sense of the rapidly evolving technology executives make sense of the rapidly evolving technology landscape and develop strategies for investing and adopting technology in the real (capital constrained) world?" technology in the real (capital constrained) world?" For starters, it's helpful to step back and broadly defi ne For starters, it's helpful to step back and broadly defi ne the types and uses of systems and tools within CRE, as well the types and uses of systems and tools within CRE, as well the types and uses of systems and tools within CRE, as well the types and uses of systems and tools within CRE, as well as the users and benefi ciaries of these systems – and as an profession, possibly even agree about what we call them. profession, possibly even agree about what we call them. Key categories are highlighted in the accompanying chart. Key categories are highlighted in the accompanying chart. by Karen Ellzey and Daniel Schumacher Getting ready for what's now and what's next: what every corporate real estate executive should know about technology F E A T U R E A R T I C L E

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