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SEP 2016

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56 SEPTEMBER 2016 1http://www.gartner.com/technology/research/methodologies/hype-cycle.jsp Defi ning the basic categories and understanding specifi c uses of technology can be a helpful place to start. But before asking "what's next," technology can be a helpful place to start. But before asking "what's next," technology can be a helpful place to start. But before asking "what's next," technology can be a helpful place to start. But before asking "what's next," it's helpful to understand your starting point. In other words, it is important it's helpful to understand your starting point. In other words, it is important to understand the current state of technologies by category in each of your to understand the current state of technologies by category in each of your operational regions or sectors. Taking a single category – Foundational CRE Operational Tools, for Taking a single category – Foundational CRE Operational Tools, for Taking a single category – Foundational CRE Operational Tools, for example – and mapping a current-state inventory into a holistic framework example – and mapping a current-state inventory into a holistic framework example – and mapping a current-state inventory into a holistic framework for your organization's portfolio may look something like this: for your organization's portfolio may look something like this: for your organization's portfolio may look something like this: Stepping back to assess the current state can be illuminating. Chances Stepping back to assess the current state can be illuminating. Chances are that this assessment will reveal a "patchwork quilt" of approaches and capabilities in any one technology category. This will help to reveal and capabilities in any one technology category. This will help to reveal and capabilities in any one technology category. This will help to reveal and capabilities in any one technology category. This will help to reveal and capabilities in any one technology category. This will help to reveal current approaches, spotlight gaps in technology applications, and current approaches, spotlight gaps in technology applications, and establish a pathway to optimization and prioritized focus. Importantly, this establish a pathway to optimization and prioritized focus. Importantly, this process can also suggest steps that may need to occur before even something fairly basic, such as truly integrated optional reporting, can become a reality. become a reality. become a reality. the path forward With more and more CRE organizations either unable or even unwilling With more and more CRE organizations either unable or even unwilling With more and more CRE organizations either unable or even unwilling With more and more CRE organizations either unable or even unwilling to research, monitor, and invest in emerging and evolving CRE technologies, to research, monitor, and invest in emerging and evolving CRE technologies, the time may be right to rethink the long-range roadmap and its connection to internal self-delivery options and service provider strategies and capabilities. to internal self-delivery options and service provider strategies and capabilities. to internal self-delivery options and service provider strategies and capabilities. to internal self-delivery options and service provider strategies and capabilities. to internal self-delivery options and service provider strategies and capabilities. to internal self-delivery options and service provider strategies and capabilities. to internal self-delivery options and service provider strategies and capabilities. to internal self-delivery options and service provider strategies and capabilities. to internal self-delivery options and service provider strategies and capabilities. to internal self-delivery options and service provider strategies and capabilities. Clearly, the potential of technology to transform our industry is real. Clearly, the potential of technology to transform our industry is real. Clearly, the potential of technology to transform our industry is real. Strategies and choices of technology considered in the past, which may have Strategies and choices of technology considered in the past, which may have been incidental or "bolt-on" type discussions, should be reconsidered and been incidental or "bolt-on" type discussions, should be reconsidered and new approaches intentionally integrated into the overall CRE roadmap to new approaches intentionally integrated into the overall CRE roadmap to new approaches intentionally integrated into the overall CRE roadmap to new approaches intentionally integrated into the overall CRE roadmap to excellence. excellence. Below are a few "no-regrets" steps that CRE executives can implement, Below are a few "no-regrets" steps that CRE executives can implement, regardless of the current point on the technology journey, to refi ne a tech- regardless of the current point on the technology journey, to refi ne a tech- nology strategy, both today and over the long term: nology strategy, both today and over the long term: nology strategy, both today and over the long term: • Know your starting point. As illustrated in the accompanying • Know your starting point. As illustrated in the accompanying • Know your starting point. As illustrated in the accompanying "patchwork quilt" example above, it's essential to start with a clear understanding of current technology applications and use this as the understanding of current technology applications and use this as the understanding of current technology applications and use this as the basis to spot ineffi ciencies or inconsistencies with your enhanced technology vision. technology vision. • Understand business priorities. What are your business priori- ties? Are they the same as they were three years ago? Assess the ties? Are they the same as they were three years ago? Assess the current state and identify the "nice-to-have" from the "have-to-have" current state and identify the "nice-to-have" from the "have-to-have" capabilities to guide the plan. This is the most important piece to capabilities to guide the plan. This is the most important piece to consider. There is a lot of technology out there, but it really comes consider. There is a lot of technology out there, but it really comes consider. There is a lot of technology out there, but it really comes down to where you are in your CRE journey and what you realistically down to where you are in your CRE journey and what you realistically down to where you are in your CRE journey and what you realistically down to where you are in your CRE journey and what you realistically need the technology to do today and in the future. Technology won't need the technology to do today and in the future. Technology won't need the technology to do today and in the future. Technology won't need the technology to do today and in the future. Technology won't be the solution for everything but it needs to focus on where you are be the solution for everything but it needs to focus on where you are be the solution for everything but it needs to focus on where you are in your journey. • Stay educated. We must expect continual evolution of CRE technologies • Stay educated. We must expect continual evolution of CRE technologies • Stay educated. We must expect continual evolution of CRE technologies • Stay educated. We must expect continual evolution of CRE technologies • Stay educated. We must expect continual evolution of CRE technologies and monitoring them needs to become part of the new normal. Take advantage of CRE tech conferences and service provider showcases advantage of CRE tech conferences and service provider showcases advantage of CRE tech conferences and service provider showcases that offer briefi ngs and demos, or befriend a colleague in the industry that offer briefi ngs and demos, or befriend a colleague in the industry that offer briefi ngs and demos, or befriend a colleague in the industry that offer briefi ngs and demos, or befriend a colleague in the industry who does. • Assess your own organization's "tech tolerance" in non- core functional areas. Regardless of the decision to build or buy, obtaining advanced capabilities and solutions takes know-how and obtaining advanced capabilities and solutions takes know-how and a profound commitment to new practices and behaviors relative to data governance, time, and capital. Like any "next new thing," it takes a strong business case and demonstrated capability – whether internal a strong business case and demonstrated capability – whether internal a strong business case and demonstrated capability – whether internal or third party – to deliver the vision. or third party – to deliver the vision. or third party – to deliver the vision. • Consider pilots. Piloting technology is a cost-effective, low-risk • Consider pilots. Piloting technology is a cost-effective, low-risk • Consider pilots. Piloting technology is a cost-effective, low-risk way of determining the value and cultural fi t. Piloting may also help organizations understand and address challenges that they likely will organizations understand and address challenges that they likely will organizations understand and address challenges that they likely will organizations understand and address challenges that they likely will encounter with broader implementation. • Stay curious, stay informed. Technology has already disrupted • Stay curious, stay informed. Technology has already disrupted • Stay curious, stay informed. Technology has already disrupted • Stay curious, stay informed. Technology has already disrupted • Stay curious, stay informed. Technology has already disrupted • Stay curious, stay informed. Technology has already disrupted numerous industries, and there is no reason to think that CRE will be numerous industries, and there is no reason to think that CRE will be numerous industries, and there is no reason to think that CRE will be immune. • Be realistic. We've all seen the "hype cycle • Be realistic. We've all seen the "hype cycle 1 " play out before, and it's likely that some of the hot new trends and buzzwords of today will it's likely that some of the hot new trends and buzzwords of today will it's likely that some of the hot new trends and buzzwords of today will it's likely that some of the hot new trends and buzzwords of today will be distant memories tomorrow. Technology is not only here to stay – it's sure to continue evolving by Technology is not only here to stay – it's sure to continue evolving by leaps and bounds in the months and years ahead. Now more than ever, it's critical for savvy CRE executives to step back, look at the big picture, and critical for savvy CRE executives to step back, look at the big picture, and critical for savvy CRE executives to step back, look at the big picture, and critical for savvy CRE executives to step back, look at the big picture, and build a resilient roadmap that can both capitalize on technology advances build a resilient roadmap that can both capitalize on technology advances build a resilient roadmap that can both capitalize on technology advances build a resilient roadmap that can both capitalize on technology advances while staying nimble to take advantage of the next big thing. It will be important to strategically answer questions such as "build vs. buy" and important to strategically answer questions such as "build vs. buy" and "where to invest for maximum return" in light of corporate objectives and "where to invest for maximum return" in light of corporate objectives and "where to invest for maximum return" in light of corporate objectives and realistic assessments of available capital. Most importantly, it will be critical realistic assessments of available capital. Most importantly, it will be critical realistic assessments of available capital. Most importantly, it will be critical to stay engaged, listen and learn, and turn to trusted sources for sound advice about how to best prepare for – and succeed – on the journey ahead. Karen Ellzey is executive managing director of consulting for Global Workplace Solutions (GWS) for CBRE. She brings over 21 years of consulting experience CBRE. She brings over 21 years of consulting experience to her specialization in organization design, process design and optimization, portfolio strategy, and design and optimization, portfolio strategy, and occupancy cost CRE solutions. Daniel Schumacher serves CBRE as senior vice president for GWS Technology Solutions, with president for GWS Technology Solutions, with responsibilities over client-facing technology for GWS responsibilities over client-facing technology for GWS business. His focus has been driving competitive market differentiation through technology-enabled market differentiation through technology-enabled service delivery in the workplace. • • • F E A T U R E A R T I C L E

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