Real Estate & Composability
As physical assets, buildings have a hard time adapting to change. With design, development, and construction timelines easily spanning 10 years for commercial buildings in large metro areas, it’s no wonder that many buildings are considered dated before they’ve even had a chance to open their doors to tenants.
In contrast, global markets are moving faster, enterprise lifespans have shortened, and consumer preferences are as dynamic as ever. Where does this leave owners of commercial buildings?
Though they can’t necessarily rearrange a ground floor or workspace on-the-fly, there is a digital concept (one ility was designed around) that can help: composability. Per Gartner, it’s one of the most important concepts in digital strategy today, and one that real estate is quickly learning to build with.
Digital Building Blocks
Recently, in partnership with a leading owner of a unique Class A commercial portfolio, ility designed and delivered a composable digital platform for a collection of assets throughout the US.
Given their strategic approach to building repositioning, this owner wasn’t interested in “off-the-shelf” digital solutions. Rather, they wanted to compose their own unique digital offering from a collection of functional solutions, including access control, parking management, emissions reporting, occupancy data, and a live concierge.
Though these solutions solve separate problems, the data they produce is centralized in ility, via operational dashboards for asset managers. Additionally, ility allows this owner’s operation team to provision these services to their tenants through one unified, branded interface, ensuring that end users feel that they’re interacting with a unified service – not a disparate collection of softwares.
Build, Measure, Learn
How does composability fit into this picture? As a master technology layer, ility elevates data from each of these systems and allows this owner to provision different capabilities to each tenant and user.
In practice, this means that ility will enable this business to “plug” new solutions into their cohesive digital platform as market and tenant demands evolve. As a bottom-line metric, allowing this owner to compose a platform from different point solutions will minimize risk and disruption to their business in the future, and ensure they’re able to iterate and test new digital offerings to remain competitive.
Though buildings traditionally have stopped at “build,” ility’s composable approach ensures that leading portfolios are now able to “measure” and “learn,” as the technology industry has done for decades. We’re excited to continue developing with composability in mind and sharing the benefits of this approach across the real estate industry.