An industry intriguingly dependent on technological developments, Real Estate has, over the past few years observed some important breakthroughs. Today, it doesn’t matter really if you are an agent looking to sell homes, or a landlord who seeks better tenants; or even a home owner waiting to fulfil his dream of purchasing your dream home; technology has helped you embalm those ideas to significantly change the way you look at Real Estate.
With connectivity everywhere, the discrepancy between physical and digital infrastructure has become increasingly blurred. This is most prominent in facilities management; where buildings and workplaces are the major generators—and consumers of data.
While trends are important, there are some technologies that have managed to form the spine of the industry. So it becomes imperative to note that the next few years hereafter would be the determinants of how real estate moves to technological tunes.
Technology seeping in..
Offices and homes across the world are implementing/installing technologies that are driven by deep learning and artificial intelligence. Smart offices and home gadgets provide comfort and improved security while being energy efficient. This is where the property management software comes afore. Tracking the performance and downtime of building equipment, providing helpdesk support services and managing day to day tasks are carried out by maintenance teams. Software here helps in monitoring the performance of the asset, gradually making the entire property management process efficient. IBM Facilities and Real Estate Management (popularly known as IBM TRIRIGA) bring the much needed singular system that optimizes the lifecycle of facilities. The integrated workplace management capabilities help in increasing the operational, financial and environmental performance of real estate portfolios.
IBM TRIRIGAis a unified workplace management platform where you can oversee the finances, performances, operations, and environmental and energy utility of your facilities. The latter is what makes this solution unique in this niche—it enables you to reduce energy use for the improvement of your properties’ environmental conditions..
It simply calculates business analytics, creates critical alerts and automates process capabilities. This in turn helps in increasing visibility, control and automates Real Estate management, Capital Projects, Space management, Facility Maintenance, and Energy Management. The application manages real estate contracts and asset lease contracts. It helps you store contract documentation, conditions, clauses, options, and financial transactions in one central repository. IBM TRIRIGAcontains automated notifications and alerts about the upcoming lease expiration dates and other critical dates. It is smart to suggest the required actions and contract options in order to avoid overpayment and late fees. You also use its application tools to create financial reports, maintain payment processes, and satisfy regulatory requirements in lease accounting and allocations.
IBM TRIRIGA Real Estate Manager Application helps you manage real estate contracts and asset lease contracts. You can store contract documentation, conditions, clauses, options, and financial transactions in one central repository. Since the application contains automated notifications and alerts about upcoming lease expiration dates and other critical dates, it ensures that the required actions are taken with contract options that help its stakeholders in overpayments and late fees. As if that wasn’t enough the application tools also help in creating financial reports, maintaining payment processes, and satisfying regulatory requirements in lease accounting and allocations.
So how does TRIRIGA help organizations get there?
A real estate application helps improve lease cash flow, while reducing occupancy costs in the organization. It helps in driving efficiencies in all real estate decision support process, making better informed decisions on what to keep and what to discard. TRIRIGA also seeks in keeping the financial performance in companies, making sure that they only spend what they should, based on the contracts that companies negotiate with the land lords. It also helps environmentally select sustainable sites; driving efficiency environmentally for the Real Estate industry. As a real estate professional, TRIRIGA offer some brilliant features. These include:
- From its dashboards, TRIRIGA provides work place performance management goals and objectives in its dashboard view; part of performance work based management suite within TRIRIGA
- The system provides a run down on the metrics, costs and revenue as well as Real Estate cost over the area. TRIRIGA also has layers of personalization at the desktop of each role within the work place. This allows all the KPI’s, or Key Performance Indicators to be displayed on their screens; especially those that they wish to focus on.
- TRIRIGA allows companies to log in and see all the projects that an organization for example is part of; with an option to delve deeper in individual projects and their updated status. Business objectives are systematically communicated throughout business units to drive measurable actions. The net result is the alignment of workplace operations with strategic objectives to drive business results.
- Furthermore, TRIRIGA Workplace Performance Management analyzes operations, detects exceptions, and evaluates workplace performance across multiple dimensions and factors. By using you can drill down into operational and financial information to determine root cause issues and identify specific actions to improve performance.