- Sync your project users, companies, types and locations to Fieldlens.
- Capture everything on-site and connect everyone in real-time.
- Automatically feed the firehose of information to your Procore project.
Real Estate Developers focusing on integration issues with legacy systems
The biggest trend for almost every business is this burden to outperform how they did last year and competitors. In the commercial real estate area, there are trends that can directly influence how these companies work and achieve maximum growth.
Real estate developers want to build faster and reduce expenses, just as any good business wants. But the major difference for developers is that they are starting to feel more pressure to perform. Deloitte states that developers will begin leveraging new technologies and fix integration issues with legacy systems. Here is HingePoint’s take on the top technological trends for commercial real estate developers.
1) Real Estate Investment Staying Strong in the United States
It’s a good time to be a real estate developer. The United States continues to be the most favored destination for real estate investments, according to the Association of Foreign Investors in Real Estate (AFIRE). In their annual survey, foreign investors placed the United States as the top destination to invest in real estate.
According to the AFIRE’s press release, 95% of respondents to the survey say they will maintain or increase their investment in the United States. Dallas—where HingePoint is headquartered—ranks 12th in the world for places to invest in real estate. Almost half of the top cities to invest in are within the United States.
2) Need to Keep Top Talent
With increased investment in the United States, real estate developers will need to keep top talent and get them up to speed faster when they hire new employees. Onboarding can be frustrating at a company that does not have a process in place or a one-stop shop for internal employees and contractors. They’ll need to onboard new talent more efficiently and give instant access to needed information so employees can do their job better and come up to speed faster.
Many developers and construction companies expected to grow are upgrading their internal SharePoint sites so employees can instantly access what they need to be more productively.
Deloitte seems to think that competition for talent is going to be fierce.
“A shortage of candidates with strong skills in science, technology, engineering, and math (STEM); rising urbanization; and Millennial's’ preference for an open and flexible work culture are changing the employment marketplace and will result in significant competition for talent.”3) Cloud and Mobile
Cloud computing is Internet-based computing, where you can access shared resources, data and information on-demand. This information is stored on a computer or server that you can access through the Internet. Accessing the cloud with a mobile device gives you access to your entire business on the go. You can communicate and share virtually any document with anyone anywhere.
4) Take Control of Data
Taking control of company information is one of the most difficult and one of the most critical tasks any company can take on. And believe it or now, SharePoint is still one of the top enterprise tools out there for collaboration, and sharing and organizing information.
Anyone can start using the cloud and mobile devices. Any company can stand up SharePoint and make it a company initiative for all employees to use it. But if the information is not organized and found easily, and you can’t maximize the out-of-the-box solutions or customize SharePoint to work the way you want it, your enterprise style tools probably won't be effective.
Bryce Finnerty, CEO and Founder of HingePoint, said more commercial real estate developers are completely changing their systems.
“Many developers are going straight to customization. They want their systems and software to work the way they want it,” he said.
5) Getting rid of the old, upgrading legacy systems
Many commercial real estate developers are still using systems created in the first decade of this century.. and some are still just relying on 2D CAD, email and paper. With mobile, the cloud and Autodesk’s newer capabilities, commercial real estate developers are seeing that they can leapfrog in productivity.
Many developers will begin to completely overhaul their legacy systems and software. They will take an integrated approach, which means software will automatically share data and information with other software. For example, many developers want SalesForce and SharePoint to share information and data with each other. It streamlines effort of employees and makes collaboration better.
Manual data entry and redundant tasks will dramatically fall. More employees will have access to critical information they need to do their job effectively.
New technology allows Commercial Real Estate to build prototypes with photo-realistic renderings and validate design selections. This helps developers sell properties with renovations first, gets approvals faster, and markets buildings faster for less upfront cost.
3D Virtual Prototypes speed up the design and construction phases on projects. Clients often gain 20% on their project timelines. Improved collaboration, decision-making, visualization, and clash detection are benefits proven to reduce costly change orders, delays, and rework.
7) New tech like 3D printing and augmented reality
Augmented and virtual reality are so new for commercial real estate, some headsets are still being tested. For example augmented reality headsets like DAQRI’s Smart Helmet could revolutionize how new developments are built and how construction companies troubleshoot problems.
They are also altering how real estate developers show off new properties. Instead of photorealistic prototypes on a computer screen, marketers can send headsets to prospects to let them literally walk around a multi-million dollar condominium or office. It makes data truly 3D.About HingePoint: HingePoint helps construction and real estate development companies take control of their company’s information. We combine systems, software, and data so all company information can be seen and accessed from one screen, like a smartphone or computer. We are experts in integrating with enterprise systems including Salesforce, SharePoint & Office365. Our clients range from top hotel brands and restaurant chains to AEC firms and real estate developers and Facilities Management. [post_title] => SharePoint remains Top Collaborative Tool for Commercial Real Estate [post_excerpt] => [post_status] => publish [comment_status] => open [ping_status] => open [post_password] => [post_name] => 7-trends-in-2017-for-commercial-real-estate-sharepoint-remains-top-collaborative-tool-copy [to_ping] => [pinged] => [post_modified] => 2019-09-10 13:43:53 [post_modified_gmt] => 2019-09-10 18:43:53 [post_content_filtered] => [post_parent] => 0 [guid] => https://www.hingepoint.com/blog/autodesk/7-trends-in-2017-for-commercial-real-estate-sharepoint-remains-top-collaborative-tool-copy/ [menu_order] => 0 [post_type] => post [post_mime_type] => [comment_count] => 0 [filter] => raw )  => WP_Post Object ( [ID] => 12674 [post_author] => 3 [post_date] => 2017-03-30 14:19:22 [post_date_gmt] => 2017-03-30 19:19:22 [post_content] => Procore launched the construction industry’s first and only construction-only platform in March, which aims to help its customers gain deeper insights from data and provide new services from other companies. Hoping to have found a solution for “frictionless" job sites with free-flowing communication, Procore held their third annual Groundbreak Conference in Austin, Texas this week, and announced Procore Construction OS. The new OS allows other companies—even those that appear to be competitors—to integrate with its more open APIs. "We are really dedicated to our openness strategy. A lot of people would say Blue Beam is a competitor but we see them as a partner,” said Bassem Hamdy, EVP Marketing and Enterprise Strategy at Procore. "We want them here and we want them to integrate because that gives our clients freedom of choice." Procore’s openness strategy is the reason they have made Construction OS and allowed any company to integrate with it. But the company is hoping to pitch the platform as more than just an open API. Construction OS is the entire ecosystem of new features and insights created from other companies' applications that are connected to Procore. "Construction OS is basically our statement and our signal to the market that we are and want to be the platform that powers construction,” said Brandon Terry, Vice President of Product at Procore Technologies. "It is not only the underpinnings that powers the Procore products but it’s also what helps us connect and build integrations with all of our partners." Construction OS is designed to serve users and improve the build process through a variety of important enhancements, including new reporting and visualization tools; access to approximately 100 apps in the App Marketplace; a newly launched developer portal; and the ability to securely integrate, store, and manage your projects within one platform. Josh Kanner, Founder and CEO of Smartvid.io, has the second most leveraged application in Procore's App Marketplace. Smartvid.io makes it easier to manage photos and video by tagging digital assets automatically and through machine learning. "As a company they have taken this very open attitude towards partnerships which has been great for us,” Kanner said. "They understand that they need to have partners that will help expand the ecosystem of what they do.” Terry said as they continue to improve construction project management and add new core tools to their platform, they are going to rely on other companies to give them more features and benefits for customers. “The primary benefit for us and the industry with this operating approach is it doesn’t hinge wholly on Procore,” Terry said. Procore is hoping Construction OS will also be an equalizer. In the past construction companies were forced to buy all solutions from one vendor. But Procore hopes to give construction companies more choices. "It’s time for construction to have freedom of choice,” Bassem said. Procore also announced two new products. Procore Construction Financials is a robust job costing solution that connects the field and the head office, providing businesses with a central location to monitor the financial health of their projects in real time. Field teams can track contracts and change orders, payment applications, forecasts, and potential cost impacts – this combined data rolls up to the head office and gives company executives access to actionable insights that can be leveraged to accurately forecast and make data-driven business decisions. Construction Financials serves as a single source of truth for project financials – eliminating double entry, mitigating risk, and streamlining monthly reporting with key stakeholders. Procore Quality & Safety consists of easy-to-use tools that help customers baseline, identify trends, and improve on their quality and safety process. With input from industry leaders and customer feedback placed at the highest priority throughout the product development process, this solution was manufactured to gather valuable data, just by people doing their job. As a result, this data helps customers identify trends that pinpoint their strengths and weaknesses across a single project or whole portfolio. Procore dashboards enable teams to act upon insights that can lead to the introduction of better processes and improved overall quality and safety culture. HingePoint 2300 McDermott Road STE 200-235, Plano, TX 75025 (214) 301-0000 www.hingepoint.com HingePoint covers the AEC Industry and is the author of The AEC Industry 4.0 Report and the Autodesk Industry Report 2017. HingePoint helps construction and real estate development companies take control of their company’s information. We combine systems, software, and data so all company information can be seen and accessed from one screen, like a smartphone or computer. HingePoint provides Procore, SharePoint and Salesforce consulting for Commercial Real Estate and Construction companies. HingePoint also helps the AEC industry with development & integration of AutoDesk and Procore products with enterprise systems. We are a trusted partner with over 25 years experience of systems development and integration work in the AEC industry. Our clients range from top hotel brands and restaurant chains to AEC firms and real estate developers and Facilities Management. We provide BIM with ROI. Results Guaranteed…Literally Guaranteed. [post_title] => Procore Launches Construction OS at Groundbreak 2017 to Bring More Data Insights to Construction Management [post_excerpt] => [post_status] => publish [comment_status] => open [ping_status] => open [post_password] => [post_name] => procore-construction-os [to_ping] => [pinged] => [post_modified] => 2018-03-28 10:34:32 [post_modified_gmt] => 2018-03-28 15:34:32 [post_content_filtered] => [post_parent] => 0 [guid] => https://www.hingepoint.com/?p=12674 [menu_order] => 0 [post_type] => post [post_mime_type] => [comment_count] => 0 [filter] => raw )  => WP_Post Object ( [ID] => 12623 [post_author] => 3 [post_date] => 2017-03-14 10:36:18 [post_date_gmt] => 2017-03-14 15:36:18 [post_content] =>
Manufacturing Technology Adaptation & Automation in the Food IndustryYou’ve probably seen Mrs. Renfro’s salsa label in big grocery stores across the nation, and you’ve probably unknowingly eaten some of the company’s barbecue sauce in restaurant chains. The story of Mrs. Renfro’s salsa is one of adaptation, nimbleness, growth, innovation, and ultimately automation. Mrs. Renfro’s brand shows that automation in manufacturing lets small businesses evolve, stay profitable and ultimately stay relevant against corporate giants. “We’re competing against the big guys. And we can because we are innovative and nimble,” said Doug Renfro, president of Renfro Foods, Inc. The company started 77 years ago in Fort Worth, Texas where the salsa was made in open kettles with boat oars because the Renfros could not afford pumps and agitators. “Now we have so many layers of technology. We have big giant machines that have little motherboards inside and you have to adjust it with a laptop,” Renfro said. “It makes you very efficient but you are more dependent on technology than in the old days.” The company is growing, and a lot of it has to do with technology. When Renfro was a child they could manufacture about 31 bottles a minute. Now they can create 141 bottles a minute. They manufacture about 60,000 jars a day. “We’ve rarely increased the number of employees we have; we’re able to get faster and more efficient,” Renfro said. “We’re doing seven times more business than we did 25 years ago, we do not have seven times more employees.” However, automation and technology are not everything in a 77-year-old business. Renfro said technology coupled with the ability to outwork the bigger competition has helped the brand succeed. The Renfro brand has the ability to adapt and change more quickly. For example, they did not waste time launching Ghost Pepper Salsa. Within three years, the salsa went to their third best selling item in three years, which is unheard of.
“It’s so much more nimble of an environment,” Renfro said. “We’re so fast and nimble we can succeed quickly.”HingePoint 2300 McDermott Road STE 200-235, Plano, TX 75025 (214) 301-0000 www.hingepoint.com HingePoint covers the AEC Industry and is the author of The AEC Industry 4.0 Report and the Autodesk Industry Report 2017. HingePoint helps construction and real estate development companies take control of their company’s information. We combine systems, software, and data so all company information can be seen and accessed from one screen, like a smartphone or computer. HingePoint provides AutoDesk, SharePoint and Salesforce consulting for the Commercial Real Estate and Construction companies. HingePoint also helps the AEC industry with development & integration of AutoDesk products with enterprise systems. As members of the AutoDesk Development Network, we are a trusted partner with over 25 years experience of systems development and integration work in the AEC industry. Our clients range from top hotel brands and restaurant chains to AEC firms and real estate developers and Facilities Management. We provide BIM with ROI. Results Guaranteed…Literally Guaranteed. [post_title] => Mrs. Renfro’s Salsa Evolves with Tech, Nimbleness [post_excerpt] => [post_status] => publish [comment_status] => open [ping_status] => open [post_password] => [post_name] => mrs-renfros-salsa-evolves-with-tech-nimbleness [to_ping] => [pinged] => [post_modified] => 2018-01-24 07:36:49 [post_modified_gmt] => 2018-01-24 13:36:49 [post_content_filtered] => [post_parent] => 0 [guid] => https://www.hingepoint.com/?p=12623 [menu_order] => 0 [post_type] => post [post_mime_type] => [comment_count] => 0 [filter] => raw )  => WP_Post Object ( [ID] => 12495 [post_author] => 3 [post_date] => 2017-02-09 12:12:51 [post_date_gmt] => 2017-02-09 18:12:51 [post_content] => If you want to build faster and you still rely on a paper workflow, it might be time to consider a different alternative. Unless you hire a SharePoint consultant, sometimes it's difficult to have the self-awareness needed to determine if paper is slowing you down. If you still depend on paper in your workflow, you’re missing huge opportunities to be more efficient. HingePoint has worked with head architects at well-respected real-estate firms who are overworked because they still deal with paper. If you are manually creating lists of building materials, or manually collecting your financial documents, or relying on paper copies to share information, the time is now to move to digital. Here are some key questions to answer to determine if you are relying on paper too much:
- How much paperwork do you have?
- Do you require printing for your workflow?
- Are there printers around?
- Is there a lot of paper on your desk?
- Do you read critical company information or data on paper instead of a screen?
- Do you require paper copies of documents to do your work?
Why Construction Costs are SoaringThe labor pool is more expensive. Construction employment declined by 985,000 jobs, or 15.8%, between 2005 and 2015, as many workers left the industry following the housing bust. “As construction jobs disappeared during the recession, many workers switched to occupations with better job prospects, or retired.” Andrea Cross, Americas head of office research for CBRE told Realty News Report. Due to the smaller labor pool and an uptick in construction activity, many markets are experiencing labor shortages, driving up construction costs. According to the Dallas Morning News, Scott Davis, with housing analyst Meyers Research, said, “Dallas is undersupplied by 10,000 to 20,000 construction workers. We should have about 99,000 people employed in the building industry.”
Construction Productivity is DecreasingAn overall trend in the United States is that productivity is decreasing. People are not as productive as they once were. Unfortunately, construction is not an anomaly. It too suffers from low productivity. The United States is plagued with poor productivity levels and lags behind other industries. According to the Bureau of Labor Statistics in 2013 there has been little improvement in the construction industry between 1987 and 2011.
Drones Lead to Deluge of DataAs companies try new tools, data can overwhelm and slow down construction companies even more. For example, drones are proliferating construction sites. They are used to verify construction projects on a daily or weekly basis. They are being used to view structures instead of sending personnel on dangerous inspections. But what do we do with all this new data? Most likely, it will end on a server somewhere. The data will be unstructured and not easily accessible or searchable. There are services designed to fight this like Smartvid.io. They use machine learning to automatically tag and categorize photos from the construction site. But even that technology is limited with drone video.
Data IntegrationAs companies start using new collaborative tools and going into the cloud, integration is still a struggle. CIO wrote that about 90 percent of businesses are using the cloud. But initial integration is creating challenges. “Integration challenges remain long after organizations first make the jump to the cloud, it’s clear that the technology is here to stay. Businesses who ride out the current storm and find the right balance of public, private and hybrid cloud solutions will gain a unique advantage over the competitors,” according to CIO. Making your software and solutions talk to one another is critical. “When applications don’t ‘speak’ to one another or share information, companies are forced to continuously update different systems of record,” HingePoint CEO and Founder Bryce Finnerty said. “They are prisoners to the technology they use.”
So How Do You Integrate?You must create a system of record. Here are five steps that will help you create a system of record.
- Document the steps in your business process. Create a spreadsheet to capture the tasks performed and tools & systems used by each user/role active in the process.
- Research the data used in each step. Include the information found in each report, screen, or document used in the process. Create a data dictionary of all data fields and the system they come from (and who “owns” that data).
- Agree on the company “system of record” for each data point within each step in the process.
- Locate the duplicate data – Check the steps recorded and the systems involved. This step is key. The goal is to standardize the data formats and establish a comprehensive “data definition” that supports the business.
- Migrate all data directly into the “System of Record” and then integrate the down- stream systems into it. Make the system “share data” across the enterprise, not duplicate it.