While the commercial real estate (CRE) industry continues to remain resilient, that doesn’t mean it hasn’t faced its fair share of challenges, from the pandemic to labor shortages to an unfolding economic downturn. Because of this, there has been a focus on performance, efficiency, and cost-cutting. Now more than ever, properties have begun leaning on CRE proptech as a means for survival (and success).
According to a recent study by JLL, 78% of companies plan to adopt CRE proptech to streamline operations and enable a more efficient workspace. Many CRE firms know that software solutions, integrated operations platforms, analytics programs, and automation are a big part of the solution.
While CRE owners and operators continue to strive toward the future, they’re also looking for a tech partner for help. Finding a partner to meet your specific needs can be overwhelming. But it doesn’t need to be. Here’s what you should look for when choosing a CRE proptech partner.
1. Your proptech partner provides an entire ecosystem of products you need.
While it’s true that standardizing your systems is a heavy lift, you can partner with tech providers that offer a whole ecosystem of products. Look for someone who offers an all-in-one platform. You can pick and choose what modules you need to build your ultimate operating system. And when you get it from one partner, integrations and data sharing are seamless.
2. Your proptech partner drives integrations, not you.
The onus shouldn’t be on you to drive integrations in your tech stack. You should be able to lean on the experts to do this for you, saving you time and stress. You should expect tech partners to provide solutions that centralize your data. A one-stop-shop with as few logins, browsers, and windows as possible is crucial for success.
3. Your proptech partner offers expert support and relations.
You should be able to lean on your tech partner for support. Look for a partner who isn’t only an expert on tech, but also deeply rooted in the CRE industry. A partner who knows the industry can help you set the right goals for your specific property and help you navigate them. Because choosing a CRE proptech partner is not just a one and done decision, it is about maintaining relations as well.
Connect Your Fragmented Tech Stack
Using one too many CRE proptech solutions might create a fragmentation in your software portfolio and could even set you back.
Here’s what a fragmented tech stack may look like: You have a solution for work orders, a solution for inspections, and a solution for bid management. When all those things are separated and individually managed, it leaves room for error. Communications, maintenance requests, and even management projects could get lost in translation.
When you standardize your systems into one, centralized location via one integrated platform you can easily access your information anywhere at any time.
Find a CRE Proptech Partner to Meet All Your Needs
Finding a proptech solution isn’t the issue, it’s knowing who to work with and who you can trust.
The right CRE proptech partner will:
- Streamline building operations to increase efficiency, saving you time and money
- Centralize your data to make smarter business decisions
- Mobilize your property teams to complete work faster
- Leverage tenant experience data to focus investment on the areas that drive ROI
Reach out to one of our experts today to learn more benefits of partnering with a trusted CRE proptech provider to help you run better buildings.