What is Proptech and What are its Benefits?

Proptech is a feature of smart buildings. However, what's all the buzz?

smart buildings, proptech, blockdox, energy savings, facilities

Analysing the interplay between humans and the built environment, proptech is now an essential feature of smart buildings. However, what's all the buzz about?

Proptech is an acronym that stands for ‘Property Technology’. The term basically covers any technology that can be used in the property/real estate space and that enhances the property sector, be it by reducing costs, optimising operational efficiency or making buildings more sustainable. Facilities managers tend to make decisions based on assumptions rather than actual need, however with proptech and access to data, the guesswork has finally been removed. The use of big data has undoubtedly contributed to the improvement of proptech solutions, by promoting better data-driven decisions.

The missing piece of the puzzle to better facilities management decisions can be found in your data, however only a small fraction of Facilities managers use it to inform their daily operations. Having access to that information would give them the ability to gather real-time and historical data that can, then, be translated into proactive maintenance to enhance safety, operations and reduce costs. For example, you might be overpaying on energy bills without even knowing it. By combining different data sets, you’ll get a better understanding of your buildings/spaces and will know exactly where to focus your efforts. Only data can give you the bigger picture and answer questions such as  ‘what areas need more attention in my building?’ ‘How can I reduce energy consumption?’ It goes without saying that data is an overlooked aspect of facilities management, it nonetheless holds the answer to any of your current operations’ challenges, be it overspending, failing to save more energy, or regular complaints from occupiers.

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Additionally, the spread of covid-19 has prompted facilities managers and building managers to rapidly adopt solutions to reassure occupiers. Proptech advocates for efficiency and sustainability, aiming to maximise revenue and foster healthy indoornenvironments at the same time.

Proptech provides customers with innovative solutions that collect and manage data for them to solve issues facing the built environment. The collection of data is done using different sensors, and analysed in real-time so the operator can improve and optimise its building’s operations acccordingly. This is exactly what we do at BlockDox.

Benefits of proptech solutions: 

  • Achieving wellbeing in any space
  • Energy efficiency and savings
  • Sustainability, ESG planning
  • Covid-proofing your spaces
  • Reducing costs