Proptech & Future of IFM

Proptech is the application of technology into tools to implement solutions and deliverables in the real estate sector more so in the Integrated Facility Management Segment. More accurately, this term is applied for technology that is adopted to provide services in real estate to manage buildings and built environments effectively and adequately including real estate transactions. An extended arm of the fourth industrial revolution which over the past few years has seen big traction as well as transaction

With the world looking up 5G telecommunication, there is no doubt that prop-tech will transform the built environment and the way our business operates. From the implementation of blockchain to enhance the productivity in transactions to the rise of smart buildings utilising the Internet of Things (IoT) to revolutionise facilities management, or the use of machine learning and Big Data to understand the interplay between humans and the built environment, the possible applications of new technology are limitless. However, unlike the rapid adoption of transformative tech in other businesses, real estate has seen far slower progress; while there are around seven thousand proptech companies globally, that represents less than one-tenth of the number of fintech companies.

Since COVID-19 from being a pandemic to endemic prop-tech has and will serve, as a catalyst for technological adoption across the built environment, and specifically within facilities management. But innovation won’t be restricted to the immediate issues of securing safe building re-opening or enhancing resilience. Within facilities management (FM), professionals are taking the opportunity to reexamine the use of space, advising asset owners and users on the most effective use of buildings to meet changing demands of workforces, and improve asset monitoring and performance. New technology is enabling more strategic decision-making, allowing FM professionals to deliver enhanced value and effect positive change in these uncertain times. One such usage is FMS@ISS transformation in ISS

Sensors now "make sense" A Majority of companies are concerned about workplace experience. But obvious a poorly managed workspace management attributed to poor utilisation of the property. Use of sensors help offices to get an accurate idea of how their workplaces can be occupied in a manner to use the space effectively. This would also help them make better-informed decisions. There are tools those?provides a real-time number of occupancies and can be tweaked to "Hybrid occupancy" standards as well. The ability to measure utilisation across facilities from open workspace , to meetings rooms, to even town hall events. Once it identifies open desks it dynamically assigns staff members to their desk and thus increases workplace efficiency.

The Synergy of Energy: Energy forms the lions share of expenditure in a typical building. Here is where data-driven energy management is playing a pivotal role. Energy Efficiency & Sustainability remains high on the agenda for asset owners and users. With commercial and residential buildings consuming approximately 40% of primary energy in developed countries, improving energy efficiency of buildings is a low hanging fruit. This would eventually get aligned with LEED and CoP26 commitments. Energy monitoring is the starting point to understand the actual needs of a building. Breaking down total energy consumption in equipment on a SLD level digram can help to identify cases where lack of maintenance has led to high consumption, so that action can be taken to reduce it.

The sustainability tools at FMS@ISS is one such energy management solutions helps corporates to monitor and reduce energy consumption by using IoT and AI-based solutions. This leads to good energy savings and improved bottom lines. The logical next step would be to offer an energy analytics Internet of things (IoT) platform that enables FM, as well as clients to, take operational decisions for optimising productivity and asset uptime through predictive insights. It’s obvious that while we monitor the energy performance of buildings we invariably land up “remotely monitoring” the assets as well. Remote monitoring clubbed with insights and analytics eventually lead to “RCM” (reliability centric maintenance) sometimes know as NextGen Maintenance or Predictive maintenance

From Space to PureSpace :As asset both client and service providers consider working environments post-COVID, and the changing need for office space, optimising existing space is more important than ever. Yet according to the global Optimize Workplace Review, on average 53% of workstations were already under-utilised or temporarily unoccupied. Added to this is the ever flexible “hybrid work” requirement superimposed by employees and employers. A technology and data-led approach is vital to tracking utilisation as well as sanitisation based on understanding patterns of behaviour, and ultimately improving employees’ experience and reducing personal and financial risk. ISS PureSpace programme dovetailed with the Covid Management Iot Tool is one such example. While our Placemekars delivers the pure space, while the “Space utilisation” is mapped and managed by the technology tool. The client could assess the RLU count of ATP meter driven cleaning index at the same time he or she could monitor the vaccination and occupancy data of the staff checking inside the facility. Today the client are more interested in a holistic based solution that can encompass all workorders and the build environment at the same time give a outstanding human experience.

The FM Industry that was largely among the “unorganised sector “ is evolving as one of the most application-driven professions of the future. An increasing number of data inputs from the IoT through a growing number of connected devices and systems its indeed making this a challenging yet interesting profession. The future is bright at the same time demanding and inspiring.