A SSOT will enable Crown Group to realise:
- A high level of technology infrastructure integration – holistic data system that is vendor agnostic, eliminating the need for various vendor solutions and thereby reducing operational costs.
- Increased correlations – reducing data siloing by distilling the many and varied data stores, formats and protocols into a unified system for advanced reporting and analysis.
- Data access – retain ownership and control with real-time access to data at a single device level predicating up to the minute action programs such as demand response and customer-centric marketing programs.
- A high level of automation that reduces the need for tedious aggregation tasks, data entry and manual labour, thereby reducing staffing costs.
Capability of fully integrated data systems have outcomes in many and varied business sectors, the most notable are outlined below.
Finance, bill validation and reconciliation tasks can be performed in an automated manner, providing resultant data on-demand to users. For example, cost and budget estimates can be automatically generated and used by both accounts payable and operations for reporting and managerial processes. Such as
- Developing a universal journal for financial/controlling data.
- On-the-fly aggregation of transactional tables.
- Automation of central finance consolidation tasks.
- Reduction of cycle-time for planning and consolidation.
- More useful comparison between actuals and budget on consolidated levels by managing consolidation, planning and budgeting in one application.
Operations will benefit from access to real-time data from sensors, plant and equipment that will feed into an automated preventive maintenance and continual building commissioning regime – analytics and machine learning to drive building and operational efficiency. Such as:
- Visual metrics that convey information effectively. Heat maps are a good example, where colour coding is added in a cross-tabular fashion, like a colour coded spreadsheet to help spot outliers and abnormal figures.
- Ability to define drill-down options and analytical tools for individual KPIs.
- Automate responses to drive action programs to events as they occur.
- Analyse data in concert with other departments and systems for uninhibited cross-metrical analysis.
Sustainability reporting, such as GRESB and NABERS are mitigated as business overheads by having access to reportable information, gathered in an automated manner. With such information at hand, lengthy delays and time-consuming manual data entry is avoided.
Marketing and management automation tasks can deliver location-based statistics, track customer dwell times, occupancy rates, network usage, loyalty points, event-based, traffic-based and rules-based promotions. Data streams can be correlated against footfall and tenant sales to realise the effectiveness of promotions and advertising spend, better understand consumer trends and help develop customer-centric infrastructure and programs.
Digitisation, integration into SSOT and automation of transaction and financial lease agreements enables commercial real estate businesses to track critical dates, perform valuations based on new lease accounting standards, and analyse leasing costs. Contract and lease administration integration with finance and operations will aid in understanding expenses and revenue. Leasing software can be integrated to effectively manage contractual relationships with property owners, tenants and service providers for capability in:
- processing lease contracts,
- advance payments,
- service charge invoices,
rental payments, etc.As more organisational departments adopt the PODS, the value of the system will increase exponentially.