May 12, 2021
By Kate Camerlin

Corporate Real Estate and the Connected Workplace: Why You Should Be Managing Your Leases, Facilities, and Assets from One Platform

Corporate real estate (CRE) management touches all parts of your business: from facilities and maintenance to finance, accounting, HR, and beyond. CRE professionals keep track of all aspects of their organization’s real estate portfolio including buildings, land, lots, and warehouses.

It’s important to note that CRE professionals don’t simply track how many properties there are and where each is located, though. They must also evaluate how each property is used. This data is critical when making strategic decisions about whether to invest in additional facilities or how to consolidate existing properties.

In fact, the COVID-19 pandemic has illustrated just how important CRE professionals are in this decision-making process. They must increasingly act as partners to the executive team, helping choose the right workplace management strategies, and assessing how spaces should be used. In a recent survey performed by CBRE Group, 71 percent of CRE leaders say that ensuring the health and safety of employees in the work environment is one of their top missions. This is up 31 percent from a pre-COVID survey. These evolving priorities mean re-evaluating data for how workspaces and other facilities are currently being utilized—and rethinking how they need to be used in the future.

But how do CRE professionals keep track of all these moving parts? How do they manage, represent, and communicate vital real estate data to their stakeholders and business partners?

That’s where the benefits of using one cloud-based platform become clear. In this article, we’ll dive into the advantages of using a single system to track all assets, people, and facilities. We’ll also illustrate how having your data on a single platform can help you make more effective decisions about your corporate real estate portfolio.

Go Beyond Tracking Leases

When you’re limited to tracking only some types of information in your system—or you’re using multiple systems and spreadsheets to keep track of it all—you have an incomplete picture of your portfolio, and it is much harder to gain insights into your data.

With Nuvolo Connected Workplace, you can go beyond tracking just standard real estate information, and can take into account factors like equipment, building, space, and energy usage. You can also easily keep track of items like contracts, amendments, payments, lease terms, insurance, and much more. Automated alerts make it easy to monitor key dates and approval actions.

Having all of this information in one system makes creating vibrant, accurate dashboards and reports much easier, and it enables you to make data-driven decisions more quickly.

Nuvolo Connected Workplace makes it easier to see the costs and usage of your facilities in three key ways. Let’s take a look at each of them now.

Tracking and Forecasting Building Maintenance Costs

Facilities teams can use the Connected Workplace Maintenance solution to track equipment and building maintenance costs. They can monitor and survey facility conditions to forecast planned and deferred maintenance.

Teams also carry out work orders and keep track of inspection results within the platform, so all data is in one single system of record. This includes:

  • The ability to see all aspects of asset maintenance, from service history to replacement date, so you have a better idea of the costs behind each asset.
  • Advanced reporting and dashboard capabilities for facilities and equipment.

This takes much of the guesswork out of forecasting long-term trends. It gives you a more precise, accurate view into how much each facility—and the equipment within that facility—currently costs, and how much it will cost to maintain in the future.

Gaining Insights into Space Usage

It’s more important than ever to have clear insights into how your facilities are used by employees and staff. When you know who is utilizing your buildings (and how often they are being used), you can more accurately identify the spaces you need to invest in and the ones you need to consolidate.

Without this data at your fingertips, you run the risk of either overestimating usage and spending too much on unnecessary space, or underestimating what your organization needs. With the Nuvolo Space solution, you can easily visualize workspaces and identify when employees reserve desks or conference rooms. The Space solution lets you interact with floorplans to see square footage and how many people can occupy each area. Other capabilities include:

  • The ability to use customizable reporting and dashboards to enable space planning forecasts and model different “what-if” scenarios.
  • Move scenario planning, and the ability to bring your static floor plans to life with occupancy data, department ownership, space types, and interactive planning features.

When you can access real-time employee space usage data, model workspaces using interactive floorplans, and then automatically create reports and dashboards, you’re able to make better real estate decisions for the future.

Tracking Your Energy Usage

Not only can you see equipment and space usage, but you can also track your facilities’ energy trends to forecast how much it costs to heat and cool your buildings. From within the same platform, teams get insight into their carbon footprint and can track usage details and billing information. Set thresholds for alerts, look at spikes or anomalies, and view energy expenses in just about any category—by geography, facility, utility type, and more.

Forecast and Report on Changing Real Estate Needs

Although it’s impossible to know exactly what the future holds, you can help mitigate some of that unpredictability by tracking all your real estate, facility, and energy usage data in one place. The Connected Workplace makes it possible to see the short and long-term trends for your facilities, and then easily visualize and report out on it to key stakeholders.

With better data, you have a clearer picture of how your buildings and facilities are being used now, and you can more accurately plan your real estate projects for the future.

Learn more about how to manage your real estate portfolio from one connected platform.