Committee Spotlight – INREV Technology Committee
INREV needs your technology case studies
With digitisation spreading rapidly across the non-listed real estate industry, the impact of technology and Innovation is becoming an important consideration for all market players. To improve processes, increase transparency and achieve efficiencies, many are exploring the technological and digital solutions that can help secure their future success. In this context, the INREV Technology Committee is playing in important role in highlighting the importance of innovation.
One of the ways INREV is looking to share such insights is via a library of best practice case studies to be submitted by its members. The case studies can include a wide range of technology related topics impacting the industry such as:
- Digitsalisation and Automisation
- Investment Decisions and Underwriting
- ESG, Operational Carbon and Embodied Carbon
- Property, Facility, Contract and Agreements Management
- Asset, Property and Tenant Management
- Due Diligence
So far four case studies have come in – two from Heimstaden on digital interaction with tenants and harmonising data to share best practice in operating a cross-border estate; and two from CBRE on deriving greater value from its data holdings, and digitally tracking all tenant activity and deal movement across multiple portfolios, countries and sectors. The studies are concise documents that briefly outline the challenge being confronted and the solution subsequently devised, together with a summary of the implementation journey.
Thijs van Gelder of PGGM, who currently chairs the Technology Committee, encourages members to provide their case studies for inclusion in the soon to be launched Technology Library. ‘It’s easy to talk about technology in general terms,’ he says, ‘but what people really want to see is practical solutions to real-life problems. INREV’s experience of setting up a similar ESG Library has shown that organisations are happy to share this kind of information at the high level we are proposing. This is very much in the INREV spirit of collaboration, and companies don’t need to reveal any commercially sensitive details they would prefer to leave out. For convenience we also provide a template setting out the case study structure, which will help avoid re-inventing the wheel.’
It’s easy to talk about technology in general terms,’ he says, ‘but what people really want to see is practical solutions to real-life problems.
Another major area of recent activity for the Technology Committee has been publishing a series of briefing papers. The last one examined the innovation of smart contracts – digital switches that can play a key role in developments like the tokenisation of real estate holdings, while the next is set to be the first of three focusing on data driven investment decisions. ‘This is clearly a sphere of great interest to INREV members,’ says van Gelder. ‘There’s so much data out there that could potentially feed into the investment process, but people need to understand what’s likely to work for them. One of the biggest issues for organisations is making the effort to look internally and work out what’s really needed. This can be difficult in real estate, where many firms are quite traditional in their outlook, so guidance from others who have already taken some of these steps can be valuable.’
A seminar will follow up on this theme in Autumn, focusing on data-driven investment decisions.
Want to showcase your company case studies on technology in preparation for the Technology Library launch
Submit your case studies now at firstname.lastname@example.org