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The rise of proptech in facility management

Jan 12, 2023 | Public | 0 comments

One of the biggest trends facility management for 2023 is using technology to manage all aspects of your building (think maintenance, inventory, and beyond) with property technology, commonly called proptech.

Consolidating data is certainly not new, but proptech goes several steps further than that, offering complete property management using  “smart” technology. Using innovation like IoT (internet of things), automation, drones, virtual reality (and more), proptech collects and integrates all your data to manage your facility simply and efficiently.

With experts predicting that the proptech market will reach $86.5 billion by 2032, it’s something you should consider as a viable facility management tool.

Better business

Proptech allows everything to be managed from one place, so you can streamline your processes, track data, predict trends, and access everything simply from your phone or device. Think about checking on orders, monitoring traffic, planning for what’s leaving your warehouse, and optimizing security, all from one location, without having to log in and out of multiple devices and programs.

This technology makes way for strategic decision-making to improve your asset management, look ahead for repair and replacement expenses, and keep track of daily demands, so you can manage your building to the best of your ability.

Better experience

This technology also allows facility managers to connect building performance and the guest and staff experience. Directing temperature control, energy consumption, building access, security requirements (and more) are all features that can be managed through this technology.

Along with providing a better experience, this technology can even be used to increase sustainability and go greener with your maintenance plan by getting real-time usage data, so you can see and implement opportunities for greener initiatives in your building.

Proptech provides facility managers with the data they need to stay on top of everything to do with their building, save money, increase efficiency, avoid costly surprises, get more environmental, and more. This technology trend is here to stay through 2023 and beyond.

RELATED: Why smart warehouses make sense

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