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Rethinking your CRE technology strategy: CRE technology strategy by design or by default? - EY - United States

Rethinking your CRE technology strategy

CRE technology strategy: by design or by default?

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Source: EY

Summary: How did we get here? The current approach to technology is partly a result of the relatively narrow market of CRE technology offerings and an inability to apply applications from the broader technology market.

Initially, this market was characterized by a large number of offerings with a high degree of specialization. Purpose built commercial off-the-shelf (COTS) "point solutions" proliferated, as did internally developed (custom) applications and proprietary tools from service providers.

CRE organizations had difficulty deciding which to deploy because there were so many choices. The lack of integration and interoperability made the decision a tactical one that focused on picking the best point solution, resulting in an overall suboptimal solution.

Following this initial period of specialized applications, and in response to heightened interest in lifecycle management, software vendors and real estate service providers responded by consolidating functionality.

As a result, integrated workplace management systems (IWMS) emerged, and the number of viable choices was reduced. This made it easier for CRE organizations to decide what type of technology to deploy. Despite this, the decision still has been a result of tactical drivers, and is not strategically driven.

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