Category: Building Operations
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How is data analytics used in commercial real estate?
In the ever-evolving world of commercial real estate (CRE), staying ahead of the competition means embracing new tools and strategies to optimize operations and maximize profits. One such tool is data analytics. With the vast amounts of data generated by commercial properties daily, understanding and interpreting this data can be a game-changer in decision-making and…
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Top 5 priorities for equipping commercial building engineers
With each new year comes new obstacles for commercial real estate (CRE) properties and their teams. Most notably, for commercial building engineers. CRE engineers are tasked with maintaining the functionality of a building. And between the evolving industry and new proptech capabilities, engineers constantly need to adapt to change. In the recent report, “Property management…
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Technology adoption in commercial real estate: Insights from an expert at RETCON 2023
Last week the Building Engines team headed to New York City for the annual Real Estate Technology Conference (RETCON). RETCON 2023 brought together the world’s leading commercial real estate (CRE) owners, operators, and developers to facilitate technology adoption and innovation within the CRE industry. Building Engines’ Jeff Thompson, Head of Global PM Technology Product Management,…
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The rising need for the chief technology officer in commercial real estate
The commercial real estate (CRE) industry has been a slow adopter of technology. However, it’s clear that property teams today will struggle to effectively manage properties without technological help. In fact, 96% of CRE professionals will stay the course or increase their investment in commercial property software this year, according to a recent survey. But…
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What is flex space in commercial real estate? How can it help the office sector?
What is flex space in commercial real estate? Flexible space – also known as “flex space”– has become a hot topic in the commercial real estate (CRE) industry, especially in the office sector, as property teams face the possibility of shrinking leases and diminished renewals due to remote and hybrid work. With commercial flex space,…
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Prism and Yardi Voyager integration: Connecting accounting and building operations data
Data is necessary to run an efficient commercial building. But on any given day, commercial buildings produce so much information – including financial data, operational data, tenant data, maintenance data, and more. Managing and analyzing all this data efficiently and accurately can be a complex and time-consuming process. Additionally, many commercial real estate property teams…
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Building operations management: How property managers are streamlining workflows
This year, we’re seeing property teams work tirelessly towards improving their work order processes, tenant satisfaction, and building operations management. All three are inherently intertwined. When property teams struggle with managing work orders and building operations, tenant satisfaction can suffer while waiting for a resolution. The key for property managers in 2023 is finding a…
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What tech investments are commercial office property teams making this year?
As inflation remains unstable and the world braces itself for a potential recession, commercial real estate (CRE) teams need more help than ever before. And for many, tackling major challenges has become synonymous with cutting costs. However, proptech is one area commercial office property teams will invest in this year to help reduce costs. According…
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Labor in commercial real estate: 5 trends the data shows
It’s no secret the commercial real estate (CRE) industry is facing several challenges this year. A big one in 2023? Strain on building operations due to labor shortages. Labor shortages are stressing many sectors, and commercial real estate is not exempt. According to recent research from the Counselors of Real Estate, 88% of contractors report…