Tips for RFPs, picking a smart building solution, and making data actionable

Welcome back to Straight Talking PropTech.

In today’s newsletter, I am recapping the latest episode of Michael Squared, where I had a big catch up with Michael Przytula about everything going on in the smart buildings industry right now.

It had been way too long since our last episode, but that meant we had lots to chat about, including RFPs, integrated solutions, and making data actionable.

Have a read to get my top takeaways, and if you want to learn more you can watch the full recording here.

The challenges with RFPs

The market is flooded with Requests for Proposals (RFPs) right now. It is great to see so much interest in smart building solutions, but RFPs definitely come with their own set of challenges.

Most end up with significant delays, and a lot of companies seem to use them to get some food for thought, then push the can down the road when it comes to actually making a decision.

As I said on the podcast, I think one of the main reasons for this is companies going out to market without clearly defined goals.

A lot of the RFPs we come across lack structure and clarity. You can tell that key stakeholders haven’t fully thought through the outcomes they want to achieve, leaving scopes vague and objectives woolly. This is slowing everything down and is a recipe for wasted time, effort, and ultimately, money.

To make the most of the RFP process, companies need to be crystal clear about what they want to achieve and what data they need to gather. This helps everyone involved, as vendors can write more targeted responses and customers are more likely to get the solutions that deliver real value.

The challenges with getting started?

As the market matures, companies are learning that point solutions won’t help them achieve their goals. People we speak to are moving beyond the basics and starting to ask the bigger, more holistic questions about data integration, aggregation and normalisation.?

But getting started can still be pretty overwhelming. Deploying a ton of sensors is costly, and with vendors coming in and out of the market, putting all your eggs in one basket can be risky.

There are things you can do to mitigate this, like asking for escrow agreements and focusing on platforms with robust integration capabilities. But another good option, which I have spoken about a lot recently, is getting started with sensorless solutions.

A lot of offices already have hardware from companies like Cisco, Poly, and Yealink, that can provide data on things like occupancy and indoor air quality. And while these solutions may not deliver the same fidelity or accuracy as some IoT sensors, they are a great starting point.?

It is not about having perfect data from the outset. It is about getting started, failing fast, and constantly refining your approach. You can then use the insights from hardware you already have to identify where improvements are needed, and build a business case based on proven value.

The challenges with making data actionable?

Collecting data is one thing, making it actionable is another. And something we have seen time and time again is that data stuck in a system no one uses is absolutely worthless.?

To unlock its value, data needs to flow into the tools companies and their employees already use. It is all about meeting people where they are so you can increase engagement and turn insights into impact.

That is exactly why we’ve released the Metrikus API – so customers can access data they need, however and wherever they need it.?

There is no need to stick to our analytics app or look at limited data sets, you can pull aggregated data into your own app and start making smarter decisions about your building.

See you soon

Next week, I am off to Berlin for the CoreNet Global EMEA Summit. I’ll be joined by Michael Przytula and our CMO, Charlotte Laing, for a session on how workplace data can boost employee experience and engagement.

It is going to be a great session, and we would love to see you there. Find out more and register here.