State of the Industry Report 2007-2008

Chapter Sixteen teChnology and the web Like globalization, information technology and the Worldwide Web are broad forces enabling and often defining today’s networked enterprise model. From a CRE perspective, technology and the Web are key reasons why the nature of work is changing, and how CRE departments are able to optimize the globally integrated real estate portfolio and supply chain. Information technology (IT) is a multifaceted dimension of CoreNet Global’s CoRE 2010 predictive body of research that now surrounds: • Mobile and flexible work (See Workplace and Work Environments.) • Building technology and ‘smart’ buildings (See Workplace.) • Portfolio analytics (covered in this Chapter.) Cre management of the global portfolIo Software and data standards are the drivers of the portfolio analytics, or the integrated data and information systems that are tied to performance measurement. The trend toward CRE’s growing use of performance metrics to support workplace management became clear in 2007. To some extent, so did CRE’s ability to integrate, then elevate, data in support of portfolio, M&A, location and other strategic-level enterprise decisions. The development of data standards to attain interoperability across the industry’s many disparate IT systems and tools, however, was still lagging in 2007. • Some measureable progress toward data standards is evident. • Integrating the networks of the virtually networked enterprise continues, however. Industry data standards The interoperability of the multitude of systems that track and house industry data became an important part of the CoRE 2010 forecast, as did the need for accompanying data standards. Realizing those standards would be akin to attaining the kind of harmonization envisioned in the IRIS sense of total cross-functionality and process-driven outcomes at the enterprise, not department, levels. In fact, we identified “data systems and tools” as one of four ways for implementing effective IRIS strategies. This also underlies the ability of CRE to deliver performance metrics that filter up to the C-Suite and into the senior management levels of business units. Metrics are being used for Key Performance Indicators (KPI’s) that shape and adjust workplace strategies. They also are increasingly enhancing the management of portfolio assets. related Case Sprint’s “mosaic” platform, winner of the 2007 Global Innovator’s Award CoreNet Global created, then spun off, the Open Standards Consortium for Real Estate, or OSCRE, to promote industry data standards in 2004. (For more information, please visit www.oscre.org) here’s what Core 2010 said would happen: • Standards are adopted • Integrated data and reporting emerge here’s where we are today: • While most OSCRE standards were developed in 2007, industry-wide adoption is still a work in progress. • Vested service provider interest in the fragmented CRE supply chain is thought to be one reason. • Another could be that the demand side of the industry isn’t applying enough pressure on the supply side to conform to standards and integration. beyond 2010: • The integration of countless systems serving the industry into a single real time, non-proprietary and open platform. • This integration of data will allow CRE to respond quickly and flexibly to changes in the business environment with value-adding solutions to workplace challenges. Managing data shifts to managing meaning as effective CRE’s learn to help the knowledge worker’s analysis and interpretation of information into collaboratively-driven results and outcomes. chapter sixteen State of the Industry 2007-2008 62 http://www2.corenetglobal.org/home/index.vsp http://www2.corenetglobal.org/dotCMS/kcoAsset?assetInode=1812452 http://www.oscre.org

Table of Contents Feed for the Digital Edition of State of the Industry Report 2007-2008

State of the Industry Report 2007-2008 Contents Chapter 1: Introduction : CoRE 2010 Framework and Report Structure Chapter 2: The Changing Business Environment Chapter 3: Executive Summary of Key Findings and Conclusions Chapter 4: CoRE 2010 Adoption Rate Chapter 5: Sustainability/Corporate Social Responsibility Chapter 6: Global Sustainability Survey and Roundtable Findings Chapter 7: Workplace Practices/Work Environments Chapter 8: Workplace Related Issue: The War for Talent Chapter 9: Asset Management/Portfolio Optimization Chapter 10: Solutions Delivery Chapter 11: Location Strategies/The Strategic Role of Place Chapter 12: Location Related Issue: Site Selection Morphs to Portfolio Alignment Chapter 13: Strategic Competencies/Enterprise Leadership Skills Chapter 14: Competencies Related Issue: The War for Talent in Corporate Real Estate (CRE) Chapter 15: Integrated Resources Infrastructure Solutions – IRIS Chapter 16: Technology and the Web Chapter 17: Technology Related Issue: Removing the Obstacles to Industry Data Standards Acknowledgements and Sources

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