“All technology should be proven guilty until proven innocent.”
—David Brower

OK, so the technological revolution that was supposed to sweep into every crevice of the business world and enhance the way companies operate was a bit over-hyped. Bankrupt companies, lost investments, flawed software, unfulfilled promises—sound familiar? But the final verdict is still out as technology applications for the commercial real estate industry have and will continue to improve.

For all the attention the bursting of the tech bubble has received, real estate companies have utilized technology to enhance several core functions. In our feature on financial management technology “Up to Speed,” we look at how financial analysis and accounting tools have enabled real estate companies to implement best practice processes rapidly throughout their organization to improve performance and to communicate those results to investors.

Technology has also raised the bar—as well as expectations—for customer service. “Service with a Smile” details how real estate companies, regardless of sector, rely on technology to help attract and retain tenants. Whether it is providing high-speed Internet access or improving lease tracking functions, technology—when tenants are willing to accept it—can improve customer service and interaction.

If the recent tech turmoil has taught us anything, it is that caution is always warranted and technology investments should be well thought out and in-line with company objectives. But to rule out new investments because of previous problems could make your company guilty of a missed opportunity.

Also…
In our feature on redeveloping decommissioned military bases, “Covering Their Bases,” we look at how CenterPoint Properties Trust has tackled the challenge of turning the former Joliet Arsenal into a thriving commercial facility.

Matthew Bechard
Editor-in-Chief