Providers on maximizing use of available technology in managing real estate assets

“In your experience, are colleges generally maximizing use of available technology to manage their real estate assets? What barriers might be preventing administrators from adopting them?”

“While we’ve seen some of the larger universities embrace and maximize use of newer technologies, many universities are either utilizing an outdated legacy system or are still using labor-intensive manual processes. Budgetary constraints are always a concern. Often, it’s difficult to convey the benefits of adopting new technologies.”
—Ralph Franco, regional vice president for sales, Accruent

“Colleges and universities have been traditionally slow to adopt new technology for managing real estate because of budget constraints, difficult technology integrations and risk aversion. However, that is rapidly changing as new accounting guidelines and increasingly complex real estate portfolios require supporting management technology.”
—Amber Newman, vice president of marketing, ATM Direct

“I do not think colleges are maximizing the use of technology to manage real estate assets. A key reason is that many real estate software systems are built around financial analysis and financial outcomes. Many, if not most, higher education real estate decisions are based on mission, program or student experience outcomes.”
—Jared Everett, vice president of university partnerships, EdR

LINK TO MAIN ARTICLE: Higher ed property appraisal

“Campuses utilize technology well for occupancy management, billing and other daily tasks. What is lacking is scenario modeling and long-term planning tools related to budgets, housing demand and usage; facilities planning; costing; and success assessment. These allow for more than just projecting budgets forward. It’s testing scenarios and planning.”
—Mike Porritt, vice president, advisory services, The Scion Group

“Universities are forced to balance the needs of their students and faculty with their limited real estate resources and are turning to data analytics tools. With data being stored in individual silos across several departments, it can be difficult for administrators to get a comprehensive view of how schools are making efficient use of their buildings.”
—Robert Dolan Jr., market segment director for public sector, Tableau

Karen Kroll is a Minnesota-based writer.

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