Only 27% of respondents indicated they used a formal, structured process to construct their real estate technology strategy.
Summary: With rapid advances in technology as well as increasing data and regulatory demands, the time is ripe for CRE organizations to revisit their approach to the application of underlying technologies.
We are in an era where more corporate real estate (CRE) organizations are outsourcing key functions to service providers. Enterprise information technology (IT) applications are hosted in the “cloud,” workers rely on mobile devices, and new business intelligence initiatives and regulatory changes mandate transparency and demand data from every corner of the enterprise.
To answer that question, we need to understand the complexities driving CRE technology. Let’s also look at some provocative thoughts for CRE executives to explore, such as how outsourcing strategy and enterprise IT trends affect the technology platform, application management, technology support and data management.
Historically, the selection of CRE applications has generally been driven by internally focused, specific functional requirements, with little attention paid to the affect of trends within enterprise IT, the general business climate and business regulations. This has resulted in an approach to technology selection and use best described as incremental or organic.
In fact, in a recent survey conducted by Ernst & Young in late 2010, only 27% of respondents indicated they used a formal, structured process to construct their real estate technology strategy.
Clearly, CRE organizations will need to revisit their approach to the application of underlying technologies.
We take a closer look at the issue across the following topics:
Approaches for determining overall technology strategy
Source: Ernst & Young