Thank you EY Canada for the opportunity to share Intelocate’s solution in your 2021 Proptech Webcast.
Check out the link below for a very informative panel discussion on Proptech’s role in commercial real estate.
Link: EY’s Proptech Webcast 2021 | EY Canada
From the following stellar panelists:
- Courtney Cooper, Principal at Alate Partners
- Dean Hopkins, COO at Oxford Properties
- Moe Ladha, Finance Transformation lead at Cadillac Fairview
- Ben Liao, Managing Director, Colliers Proptech Accelerator powered by Techstars
We list the key takeaways on technology acceleration and adoption:
- The trend to digital has been accelerated. There has been increasing demand for digital solutions across all asset classes and the value chain.
- The rate of acceleration of digital capabilities should be taken up to take advantage of the benefit of being digital. This is part of the value of enhancing an asset.
- Technology is no longer part of an expense, it is now part of the solution for asset management capabilities.
- Stop thinking about a technology strategy; Drive it from the business – considering processes, tools, resources, and time using technology as a means and not an end.
- Technology is there to allow people to have the best use of their time.
- Technology is to be embedded into the DNA of organizations and not viewed as a side activity. It has to be organization-wide with a mindset shift.
- Cloud-based SaaS solutions are provided by third parties as to the way forward.
- There is no longer a need to write apps. Companies will be an integrator of these apps and energy will be focused on the IP that comes from data and analytics.
- The Proptech community is made up of features, not platforms. Therefore, real estate companies need to assemble and collect those features and incorporate them into “more wholesome solutions” that take on bigger portions of the problem.
- There are a lot more maturing ecosystems that can support companies. Identify the strategy and how to bring the technology partners together to help achieve the goal.
- Skills in the organization need to evolve. The new breed should be able to buy, integrate, manage, and work with software vendors through rapid release cycles and at the same time, work with the business.
- There is a need for integrative ability that requires a different mindset, skills, and corporate culture.
- Get started! It is not about if but about when.