The world of PropTech is vast. Want to cut through the noise and make sure your tech works for you? Here's our 5 step guide to making tech work for your asset.
Step 1 - Accountability
Your asset has a tech need, but you don’t know where to start. Who can help you solve your tech challenge...?
Step 2 - Understand
Instead of the market dictating what you buy, build and create challenge statements.
- Speak to everyone from junior members of the team, to C-suite executive to develop a thorough understanding of real problems that stop you from achieving what you need to achieve.
- Recognise what impact new technology will have on everyone, and create clear measures of success that will be used to determine if the new technology has worked or not.
Step 3 - Select
Create a clear way of finding out information about tech companies. The more information you're armed with, the informed your decision will be and the better the ROI.
- Dedicate time to review new tech. Build a central database to capture all information on new technology. Sharepoint, Monday.com & Trello are cost-effective ways to store and share information from the Cloud.
- Invest time to evaluate multiple options. Ask the same questions to compare responses, and don't be afraid to query RIO's.
Step 4 - Deploy
The area where most tech fails. Have you prioritised education, education, education?
- To ensure a tech project's ROI, you must educate everyone on how to use it. Go beyond just emailing the manual or a quick 10 minute how to. Create an accountability chart for features of the software, and ensure relevant individuals are 100% confident on how to use it.
- Test, play and run scenario-based learning before the system "goes live". This is especially important if the technology is customer-facing, you don't want them to spot the errors before you do!
Step 5 - Measure
You've bought the new technology but has it worked? Has it improved efficiency, reduced costs or enhanced visitor experience?
- Use the measures of success created in step 2 against your new solution. Validate these to help scale and roll out, or use to review what is not working and why.
- Share your findings with your teams, both good, bad and ugly. Don't let people make the same mistakes, and share positive impacts with your customers and clients
Through consultancy and our audits, we can help you get the right solution and the results you want from PropTech.
Want to chat all things PropTech with us? Book time in our diary.