Content related to ‘Innovation’

CRE Firms Need To Speed Up Technology Investment

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Commercial real estate firms need to speed up investment in technology innovation to efficiently capture and manage increasing levels of capital allocation to the industry, according to the newly released “Altus Group CRE Innovation Report,” published by Altus Group Limited and its subsidiary, ARGUS Software Inc. Nearly one-third of the global CRE industry is still using spreadsheets as its primary tool for asset and portfolio management functions, according to the report, which is based on a survey of over 300 international CRE executives. This means potentially $11 trillion dollars of assets are currently managed in manual spreadsheets, with all their inherent risk of inaccuracies and human error. In addition, the report also reveals that three quarters of the CRE industry is managing its portfolios in “data silos.” This unconnected approach to managing information and assets, which often requires cumbersome data aggregation from multiple sources, can significantly hamper the timely data-driven decision-making and reporting transparency that investors are increasingly demanding. Without modern data management infrastructure and systems, investors could judge the industry participants as “behind-the-curve,” threatening their ability to attract trillions of dollars of additional institutional capital predicted to be allocated to the CRE industry in the next decade. “It’s clear that commercial real estate has a huge opportunity to boost productivity, unleash added innovation and increase profitability by investing in new IT and data-infrastructure solutions,” said Bob Courteau, Chief Executive Officer, Altus Group. “With so much institutional capital up for grabs over the next decade, early movers in adopting best-in-class data management and reporting practices have a real opportunity to differentiate themselves from the technology ‘have-nots’.” The report also highlighted that CRE is under investing in information technology compared to other industries. Taking the relative size of each industry into account, global CRE IT spend, as a percentage of revenue, is estimated at approximately 50% less than Financial Services and the Public Sector (including Healthcare). The findings of the report also indicate that while the CRE industry still has some way to go in creating an infrastructure that allows for greater data-driven innovation, industry leaders recognize the transformative impact of… NOTE:This is a summary of a post found on Real Street Tech | The Smart Place For CRE.Parts of it may be missing.View the full original article at:

Smart City Designs Earn ASU Sustainability Students Verizon Grants

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Credit: Arizona State University Last fall, Arizona State University’s School of Sustainability teamed up with Verizon to offer a groundbreaking new course — the Smart City and Technology Innovation Challenge. Students spent the semester learning about the latest in smart technologies, brainstorming how they could be applied to cities, and transforming them into business propositions. After reviewing all of the entries, three students’ projects were recently selected to receive grants from Verizon. First Place: PHXflow First-place winner Alex Slaymaker is in her second year in the School of Sustainability’s Master of Sustainability Solutions program and has a passion for eliminating waste. “Cities of the future will view sending waste to the landfill as an outdated inefficiency that hurts their bottom line and reputation,” she said. Slaymaker’s waste-reducing proposition, PHXflow, is a vibrant online waste networking platform created for small- and medium-sized businesses interested in selling, donating, purchasing or exchanging unwanted materials with other businesses in the Phoenix metropolitan area. “Picture a for all different kinds of waste, from wooden crates to leftovers,” Slaymaker explained. In Phoenix alone, enough waste is generated in one year to fill Chase Stadium seven times. Although recovered materials account for one stadium’s capacity, the Brookings Institute estimates that over $500 million worth are exported from the Phoenix metropolitan area each year. Half are sent across the world to Asia, where they are transformed into new products that are sold back to the United States. The remaining six stadiums worth of waste are sent to landfills, even though 50 percent is compostable, 15 percent is recyclable, and 23 percent is recoverable. PHXflow aims to correct this by allowing companies to inject by-products back into the regional supply chain so that others can create wealth from what would otherwise be waste — a matchmaking proposition now backed by a $5,000 grant. Second Place: BetR-block, LLC Christopher Frettoloso, the second-place recipient of $2,000, conceived BetR-block, LLC. BetR-blok, pronounced “better block,” manufactures sustainable, low-cost building materials from recycled paper and other cellulosic materials. The company designed and built low-cost, energy-efficient equipment to pulp, mix and press recycled paper, cardboard,… NOTE:This is a summary of a post found on Real Street Tech | The Smart Place For CRE.Parts of it may be missing.View the full original article at: