Technology always holds the promise of providing greater insights and injecting greater efficiency into the operations of a company or even an entire industry. Proptech, or property technology, is no different. Defined as enterprise software aimed at transforming real estate management, proptech collects data, captures insights, informs decision making and can even automate routine processes.
In this quick guide to proptech, we’ve put together some of the benefits of proptech for today’s commercial property owners and building managers.
Strengthening Building Security
Understanding who is entering, occupying and leaving a building is one of the most important aspects of building operations. Large commercial buildings most likely have security cameras and surveillance systems in place. However, these legacy systems normally require a lot of manual operation, with little to no data collection, analytics or automation available.
Enter AI. Current proptech solutions for building security are able to recognize patterns, spot anomalies and take action when required. While legacy physical security systems were previously used as a reactive measure to threats, by harnessing AI, machine learning and advanced technologies, building managers can be more proactive and manage risk before dangerous situations may occur.
Traditional access control systems, including key cards and key fobs, are nothing new. However, they cannot withstand threats, such as tailgating, stolen or lost cards or key copiers. Advanced solutions, including biometrics and mobile credentials, exist to combat the risk of lost, stolen or copied cards. Advanced proptech solutions for access control go a lot further than simple physical tools to prevent unauthorized access to a building.
Improving Tenant Comfort with HVAC and Air Quality
Technology solutions to improve tenant, employee and customer comfort inside a building is nothing new: HVAC systems with smart thermostats have had the ability to be programmed and the temperature automatically adjusted for many years. But can HVAC systems do an even better job?
Proptech solutions exist to collect data from sensors placed strategically throughout a property. Those sensors are collecting all types of data, which can be unified and integrated into a single platform which the building manager can view in a dashboard-like console. More than simply automating systems for HVAC and indoor air quality, proptech solutions can also “learn” from existing data, then make decisions based on future collected datasets that exhibit similar characteristics.
Further to the automated turning on and shutting off of heating, ventilation and air conditioning systems, proptech can promise building managers an increase in sustainability efforts. When lights are turned off or window shades are automatically drawn, less energy is used, reducing waste and carbon emissions.
Environmental and Social Governance (ESG) refers to a set of investment standards, also known as “sustainable investing.” ESG speaks to a larger social movement to drive down consumption and adopt more environmentally friendly practices.
As pressure mounts for building owners and managers to adopt more sustainable practices, proptech solutions can help reassure tenants, employees and customers that the building they are occupying is adhering to these principles. Proptech solutions that advance the ESG movement help property managers stay accountable and improve overall facility operations and energy usage.