After seven years in PropTech, I have witnessed the numerous ways that software and process automation can enhance the management of facilities, benefiting both owners and occupants. In my experience, no technology currently provides more value than the ability to monitor facilities and the assets operating within them. Remote monitoring not only offers advance warning of the failure of an asset or part, but can also filter out false positives when an asset generates a fault code.
However, focusing on the technology rather than delivering business value can not only create massive overruns, but also lead to implementations that don’t solve problems or improve workflows.
This article, based on my PropTech experience in product marketing, analyst relations, corporate strategy, and M&A, offers insights on how Internet of Things (IoT) monitoring use cases can deliver business value based on how the facility generates revenue.
