3 Reasons why Space Optimization solutions have not been rolled out globally yet
+ And what you need to make it possible!
Space utilization and IoT technologies have been available for several years. And even though they help solve both tactical as well as operational use cases, very few solutions have actually been rolled out on a global scale. Many technology projects in real estate don’t evolve beyond headquarters and after many conversations with corporates throughout the past years, we found that there are three key reasons that cause this. In this article, we take a look at the root causes of this phenomenon. And we provide one of the few space optimization solutions that helps overcome each of these challenges.
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Challenge # 1
Lack of Speed
For the average company, it can take 1 to 3 months to do a software setup for a real estate technology project. This causes many projects to stall at a certain amount of implemented buildings. Large global enterprises often have more than 100 buildings in their portfolio. Expected setup duration times the number of buildings teaches us that it’s simply infeasible to roll out granular sensor solutions across the entire portfolio.
Challenge # 2
Lack of Cost Efficiency
Implementing technologies across a global real estate portfolio comes at a cost. Labour-intensive hardware setup and software licensing models based on square feet implemented have made such expenditures not financially viable in the past.
Challenge # 3
Lack of Experience and Skills
Due to the limited number of global projects, there is only a limited number of people that actually have experience executing global space optimization solutions. And due to the complexity in the process, with many different stakeholders involved at the world’s largest enterprises, this experience is actually indispensable.
Our space optimization solution helps you overcome these challenges
Based on the conversations we had with many corporate real estate and facility managers, as well as technology – and service partners, we learned it was time to better align our strategy with what companies need right now. When employees will start returning to the office, sharing information on safety and compliance will be vital. Local teams need to know where risks can occur, learn from others in the organization about potential bottlenecks, and find out which areas in buildings demand immediate improvement. With varying regulations and compliance standards per region, it’s important to know how your buildings across the globe are performing. The HubStar (previously known as Lone Rooftop) is one of the few space optimization solutions for corporate real estate and facility management provides you with insights on how to optimize your portfolio, and where to invest or divest, underpinning many growth and consolidation strategies.
Solution # 1.
That’s why our solution is now available as SaaS in the cloud. We deliver this through our partnership with Cisco DNA Spaces.
Due to the cloud-based nature of our offering we can now offer unparalleled implementation timelines covering global portfolios. What used to take years takes quarters now. This is more relevant than ever because when we eventually return to the office, we will return to the office at scale. Not only to the Corporate HQ.
Solution # 2.
Leverage your existing infrastructure to get high-level insights across your portfolio quickly. Only invest in granular sensor technology solutions where needed after getting the basics first. This prevents you from investing heavily up front in a new single-point solution. Hybrid solutions are 30-50% more cost effective and WiFi can be up to 80% cheaper compared to sensor-only solutions.
Solution # 3.
Experience and skills
We already work with the service partners you team up with. This offers you the framework to directly reap benefits from our solution and embed them in your organization. Corporations like JLL, CBRE, Colliers International, Cushman & Wakefield can support the operationalization of space utilization insights. And for additional support, our own Customer Success team has your back.