Companies value innovation, better data storage, and collaboration. At least that’s what we’ve found out from our experiences with social housing corporations in the past three years. Modern companies are tired of the struggles of scattered API’s and slowly gathered data, and are looking for ways to enable easier collaboration between different teams in their organization.
To reach this, both technological and structural developments are needed. Most organizations we meet realize this and are constantly trying to improve their processes in order to become fully modern and progressive. However, this poses a challenge to housing corporations in particular, where administrative processes have been outdated for quite a few years now. Especially in this technological world where trends from two years ago already count as ancient history.
While these issues are certainly challenging, discussions between OCTO and corporations in the field bring the optimal software one step closer to reality each day. But first, it is necessary to understand what kind of issues these companies are facing.
Aging issues in modern corporations
Currently one of the biggest challenges in housing corporations is to optimize and improve databases. Databases are crucial in every single aspect of the work of these corporations and it needs to be maintained and updated to contemporary standards for multiple purposes. They allow for better communication between different boards of the company, not to mention the reduced frustration coming from the increased common understanding resulting from a well-organized, all-accessible database.
However, as we have seen numerous times, companies in the real-estate sector seem to struggle more than usual with maintaining and updating the way their data is stored and sent across their organization. Even in 2019, there is a fairly high chance that at least some data is kept in paper form, in a random drawer in the office. Even though digitalization made it possible to store data more efficiently, manual data management still poses problems to teams in organizations.
Better building data
One of the processes that creates an enormous amount of data, is the inspection of buildings. These inspections for long have been done manually, and only recently digitally, by specialist personnel. While they produce excellent results when measuring damage and defects, specialist personnel takes extensive time. It is basically impossible to check each and every building in a corporation’s portfolio. The cost-benefit of manual inspection is therefore quite low.
It is clear that the sector needs a new solution for building inspections. One that is quick enough to ensure the safety and health standards of each building on a corporation’s portfolio in time. It makes sense to look for digital alternatives as innovative solutions to old problems. Digitalization offers countless options to revolutionize multiple aspects of such processes, while potentially reducing costs and time.
Currently, OCTO is working on a digital alternative to building solutions using the power of artificial intelligence and image recognition. We’re developing a platform that would allow all members of a housing corporation to see a detailed overview of their buildings, with constant updates on their damage and health status. Our platform would allow for issuing specific reparations, easier communication between departments, shared databases and enhanced collaboration. Having one database for all, with clear standards and criteria, will definitely help to avoid common mistakes and frustration at the workplace.
Above all, there is one key feature we keep in mind: flexibility. Our platform allows for future developments that build on data, enabling the corporation to implement new solutions quickly and efficiently without unnecessary extra effort to gather all information. Our digital solution is expected to increase the average yearly inspection rate of a corporation’s portfolio from 10% to over 95% a year. This ambitious number represents our determination to provide a service that ensures the safety standards and well-being of every building it’s used on.
For more information about our software’s development, make sure to check on our social media and website in the future.
So, what do we need to look out for?
There are countless developments in the smart sector that have the potential to change the way we do our daily tasks forever. However, even today, we can bring innovation to our workplace only by embracing new solutions and ambitious ideas. We advise you to do the same: think about your organization. What are the major difficulties you face on a daily basis? Do you think your company is ready for an upgrade in technology? Talk to your colleagues to find out about their insights and opinions on the efficiency of your processes!
Also, make sure to contact us in case of questions or recommendations! We are always open to new ideas.