A 'technology stack' is essentially the group of technology applications that a business uses to manage their core functions. Historically, technology stacks referred to the applications used by technology companies to drive technical operations . With the universal growth of platforms powering marketing and business functions, the importance of a technology stack is being recognized in all businesses, old and new, small and large.
As of 2011, Prudential reported that total global commercial real estate was worth $26.6 trillion. It’s projected to grow to nearly $100 trillion in 20 years. Pretty remarkable, don’t you think? What’s even more remarkable is the simple formula that will drive that value creation.
Why is it that some building projects succeed and others do not? While there is no “right” answer, certain key factors influence whether or not a project will be successful.
Reliable, professional vendors are essential partners in your quest to bring projects in on time and under budget. The right mix of quality work, responsiveness, and price is what you’re looking for, and once you make that contact it’s natural to continue the relationship. Like any good relationship, it’s good to step back and evaluate the benefits that each party is getting and your level of satisfaction with the vendor.
If you have been doing things the same way for the last 30 years, your gut reaction is probably, "it's definitely a nice-to-have." Now, we've warned you about the hidden costs of waiting to adopt technology, but old habits can be hard to break and old assumptions can be hard to shed.
For this edition of #CRE Dispatches, we rounded up recent news stories of real estate-related procurement strategies from around the web. The verdict is in: cloud-based platforms are winning and the time for adoption is upon us.
The decision to implement enterprise real estate technology software can represent a significant upfront cost – in dollars and time for training and implementation – and is often quelled by the company’s decision to maintain the status quo.
It’s no secret that the real estate industry is relatively averse to new technologies. It’s understandable, of course, given the tried and true methods of paper RFP’s, building interpersonal relationships, steak dinners and offline transactions.
The real estate procurement process - from vendor management to bid leveling to spend tracking - can be a bear. Complexity often occurs for good reason, whether it’s due to an increase in project sizes or an appreciation for the benefits accrued from competitively bidding your projects.
We always hear that technology will significantly change how real estate markets operate, and revolutionize an industry often regarded as an ancient mastodon. There is, however, one clever bit of real estate technology that’s been around for some time and has already transformed both the residential real estate markets and the national economy in a most disruptive fashion: mortgage analytics.