Reworking Proptech

REWORKING PROPTECH

A BLUEPRINT FOR WORKPLACES OF THE FUTURE

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REWORKING PROPTECH

RAPID ADVANCEMENTS IN TECHNOLOGY CONTINUE TO TRANSFORM BUILDINGS AND WORKPLACES, PROMISING PRODUCTIVITY, CONNECTIVITY AND SUSTAINABILITY FOR COMMERCIAL REAL ESTATE OWNERS AND OCCUPIERS. PROPTECH, THE APPLICATION OF DIGITAL INNOVATIONS AND TECHNOLOGY IN THE REAL ESTATE SECTOR, IS NOW REACHING ITS NEXT MATURITY PHASE, HAVING ATTRACTED $82 BILLION IN GLOBAL VENTURE CAPITAL INVESTMENT SINCE 2015. This investment has helped the PropTech market expand from a limited number of core technology domains to more than 50, representing hundreds of individual technologies and growing. The world’s technology leaders are increasing their focus on commercial real estate alongside the start-up ecosystem. reality, the pressure is on business leaders to fast-track adoption to support operational and business outcomes. However, truly effective digital strategies rely on navigating an increasingly complex and specialised universe of PropTech solutions that may not have a clear point of entry. In this paper, we explore pathways for owners and occupiers to find best-fit solutions supporting their workplace vision and long-term business case. With the increasing proliferation of emerging technologies like AI, machine learning, and virtual

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Source: Cushman & Wakefield

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REWORKING PROPTECH REWORKING PROPTECH

THE DIGITAL TRANSFORMATION OF BUILDINGS, WORKPLACES AND WELLNESS

Enhanced user experience Workplace Level

Booking Systems

Occupancy & Utilization

IoT Sensor Apps

Visitor Management

Occupants/Tenant Apps

Focus on sustainability and health Human Level

Indoor Air Quality

Waste Sensors

Leak Detection

Irrigation/Soil Quality

Vibration Sensors

Water Quality

Occupancy Sensors

Building Level

Advanced operations and automation

Meters

Location Services

BMS/BAS-HVAC

Automated Blinds

Access Control

Power Management

Integrated Lighting

Digital Wayfinding

Digital Signage

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REWORKING PROPTECH

THE FOUNDATIONS OF EFFECTIVE DIGITAL STRATEGY

UNDERSTANDING WHERE YOU ARE ON THE JOURNEY

Whether in the early stages of digital strategy development, or in the search for specific solutions to enhance an existing digital architecture, there are essential steps any organisation can consider.

Are you building your first business case for a new technology? Or considering how to integrate multiple solutions across locations? In either scenario, It’s important to recognise that your strategy should align with the organisation’s current level of digital maturity.

A ROADMAP EMERGES

03 SCENARIO-PLAN THE IMPACT Map specific operational and user outcomes and desired future capabilities.

02 ASSESS CURRENT STATE Identify existing

05 ASSEMBLE

ADVANCED Enterprise-wide approach

INTERMEDIATE Scaling capabilities beyond the basics

STAKEHOLDERS Engage cross-functional teams from IT to procurement and cybersecurity.

1 Steps 2

solutions and journey to date. Ask what is

Development of internal data ecosystem

STARTINGOUT First-time investment in PropTech

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reusable or expandable.

04 ALIGNMENT AND SPONSORHIP

Decide whether to evolve or redesign architecture.

Expand user experience, build automation and drive integration across systems

Focus on data analytics capabilities.

1 Steps

Begin planning architecture starting with core real estate platform such as a computerises maintenance management system (CMMS)

Gain executive endorsement and budget support for the business case.

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Scaling existing capabilities and a focus on niche tech in sustainability and wellness

Move into new capability areas such as user experience, sensor-based automation or sustainability

01 DEFINE THE VISION Document the goals and purpose of the digital workplace strategy.

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Leverage supplier partners for automation

Active partnerships and investment in emerging tech

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Establishing strategic technology partnerships

Equipped with this information, decisions can be made about whether an improvement to an existing system, upgrade or entirely new solution is the best way forward. This can provide a cornerstone along the journey to implementation.

+ Benefits

Benefits

Benefits

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Foundation system upon which to future-proof capabilities

The right architecture and support to drive value from ongoing investment

Gaining economies of scale, di€erentiated capabilities and integration benefits

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REWORKING PROPTECH

“It can be overwhelming to consider transforming your end-to-end digital platform and attempt to make wholesale changes in one go. Instead, with the right upfront approach to architecture, a staged roadmap and an experienced advisory partner, you can draw out the art of the possible over time.”

Seen through the lens of selecting discrete technology solutions, thematurity journey comes into focus. Take an example of a smart building application; an asset ownermight beginwith a solution that supports energy savings. Building on the same digital platform, there is an opportunity to unlock maintenance and labour optimisation and, eventually, sustainability benefits.

DIGITAL TRANSFORMATIONS IN PRACTICE Equipped with this information, decisions can be made about whether an improvement to an existing system, upgrade or entirely new solution is the best way forward. This can provide a cornerstone along the journey to implementation.

SMART BUILDING APPLICATION

OPTION 1 Install basic lighting controls

OPTION 2 Install networked lighting solution with motion sensor s

Uplifting digital capabilities across a growing real estate portfolio Sector : Financial Institution (US) Objective: Enhance management and operational capabilities and establish roadmap. A US-based bank had more than 20 third-party point solutions with a goal to streamline, optimise or upgrade applications. Stakeholders were engaged and educated as solutions appraised and roadmap developed. Solutions Benchmarking against best-in-class solutions was undertaken in areas from occupancy and reservations, tenant experience, facilities management, administrations and accounting and construction. Results • Accelerate and strengthen digital strategy and roadmap. • Delivered portfolio efficiencies. • Cost savings by optimising existing solutions.

Bridging critical gaps in IT architecture with custom smart building solutions Sector: Telecommunications (Global) Objective: Establish and integrate missing solutions for holistic digital building strategy. A global telco was seeking advice on evolving its existing digital strategy and support to identify and integrate new solutions across a global office, manufacturing, and warehouse portfolio of sites. Solutions Consolidate disparate portfolio into a global solution, with a focus on building automation, workplace technology, data and analytics and sustainability reporting solutions.

TARGET Reduce energy consumption

Energy savings

Energy savings

Data feed to support sustainability reporting

Sensor produces data used by workplace teams to optimise space utilisation

Results •

Enhanced analytics and flat file integration to management analytics platform Future proof solution strategy developed with a roadmap to leverage smart building automation and fault detection diagnostics integrated into the CMMS system.

•

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REWORKING PROPTECH

Our Digital Advisory team can help develop your digital roadmap and select the best-fit technology solutions to support your current and future needs. Our methodology is based on matching solutions to business opportunities and provAiding expert advice on building, deploying, and running solutions.

• Market Knowledge • Best Practices • Operational & • Community of Practice BUILD THE VISION DEFINE & PRIORITISE • Preferred / Proven Technology Solutions • Standard Configurations • Analytical Models • Pre Fab Integrations • Support & Compliance Technical Expertise • Frameworks

FIND THE SOLUTION

DEPLOY & OPERATE

• Solution Architecture • Road-mapping • Optimized Models

• Operational Expertise • Analytical Skills • Support & Compliance

• Program

• Business Case • Data Strategy • Implementation Strategy & Management

Execution • Governance & Performance Management

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REWORKING PROPTECH REWORK PROPTECH

OUR TEAM:

NITASHA SREEKUMAR Technology Leader, Global Occupier Services, APAC nitasha.sreekumar@ap.cushwake.com

CAROL WONG Occupier Consulting, APAC carol.wong@cushwake.com

CAMERON AHRENS Head of Global Occupier Services, APAC cameron.ahrens@cushwake.com

TOM GIBSON Head of Project & Development Services, APAC tom.gibson@cushwake.com

DAMIAN KELLS Head of Integrated Facilities Management, APAC damian.kells@cushwake.com

ABOUT CUSHMAN & WAKEFIELD

Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in approximately 400 offices and 60 countries. In 2022, the firm reported revenue of $10.1 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), Environmental, Social and Governance (ESG) and more. For additional information, visit www.cushmanwakefield.com.

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