JLL brings data-driven tech to Aust property owners & managers

SYDNEY, 4 April 2024 – With research revealing that commercial property investors are increasingly prioritising the role technology plays in driving return on investment, JLL is expanding its technology solutions to transform the way commercial buildings are managed and run.

JLL’s Property Management Technology Group is expanding into the Asia Pacific market from its North American base, starting with the launch of its data-driven technology platform, Prism by Building Engines, to more than 2,000 commercial properties in JLL’s managed portfolio across Australia.

Prism empowers commercial property teams with a single platform to manage and optimize critical operational tasks such as work orders, tenant experience, vendor management, risk mitigation, and sustainability. The application integrates with other key technologies to streamline property management for areas such as finance, procurement, compliance, tenancy services and tenant customer experience. Prism standardizes data around a buildings’ performance to provide actionable insights to building owners and managers to make data-driven decisions.

“For building owners and investors, driving building performance and value has never been more important – or more challenging,” said Richard Fennell, Head of Property Management, Australia for JLL. “The complex operating environment for building management has led to increased demand for proptech solutions, particularly tools like Prism that add another layer for risk and compliance management with increased data sets that are available for property management purposes.”

Prism prioritises customer engagement and enables proactive property management to deliver greater customer satisfaction and operational efficiency. It uses data to streamline building operations, including work orders and maintenance; tenant experience, including building access, communications, and more.

“Property owners are seeking the best management solutions to navigate current economic issues and a range of regulatory issues, said Albert Ovidi, COO, Asia Pacific for JLL. “Asset owners and global asset managers require heightened transparency and real-time data on their investments and are seeking intelligent technology solutions.”

JLL’s Global Real Estate Technology Survey found that over 80% of companies are increasing technology budgets despite a challenging operating environment. AI and clean-tech solutions are seen as the biggest game-changers for the real estate industry, but many companies have limited understanding of these technologies, and adoption rates remain low.

“Property owners and their teams have entered a new world of tenant expectations, which means finding innovative ways to deliver ‘commute-worthy’ experiences in an environment that is focused on tenant attraction and retention,” said Daniel Russo, President of JLL’s Property Management Technology Group. “We’re helping building owners, investors and managers navigate this new world by providing the most innovative and powerful technologies to help property teams run more efficient, profitable buildings with exceptional tenant experiences and unique insights for smarter, data-driven decisions.”

Prism represents only part of JLL’s continuously expanding property management technology suite, which also includes a host of integrated partner applications, such as HqO for workplace experience, with more innovations on the way.