In the current digital era, technology has become a real transformative force, revolutionising the world around us and many sectors with it. Can technology, PropTech in this instance, be a true game-changer for the property sector or is it just another buzzword?
On the 20th of June this year, Rising Tide AI hosted an insightful roundtable to delve deeper into this topic, bringing together experts from various sectors of the property industry. Here’s a snapshot of what they had to say:
Is the property sector ready for a tech-driven transformation?
Ian Leech, Editor at Insider Media, kicked off the session with this question, and the response from the room was unanimous – utilising tech is no longer an option, but a key strategic initiative for prosperity. Technology has become a true non-negotiable for businesses looking to grow in the current dynamic market. Companies that are not yet utilising tech are at significant risk of falling behind their competitors, making digital transformation imperative for success.
Innovation or Stagnation?
Iain McKeith, Co-founder of Rising Tide AI, spoke about the challenges large organisations face with entrenched systems. He envisions a future where CRM providers either go “all in” with innovation or open their systems to third-party developers through OpenAPI.
Practical Applications of PropTech
Kate Bloor, Director of Operations at Reside Manchester, shared her experiences with PropTech solutions. She emphasised the importance of tailored technology that addresses specific industry needs. By working with Rising Tide AI, her team is able to focus on high-value tasks instead of being bogged down by admin work, especially during peak rental seasons.
Customer-Centric Tech
JP Case, Director of Residential Lettings at Savills, stressed the necessity of customer-first technology. He argued that finding an all-in-one solution is unrealistic due to the industry’s complexity, but innovation and integration are key to maintaining a competitive edge.
Security and Custom Solutions
George Konstantakopoulos, Head of Innovation at CERT Property, brought a fresh perspective from the tech startup world. For smaller businesses like his, bespoke solutions are more practical than off-the-shelf products designed for larger players. He also underscored the critical importance of cybersecurity and proper staff training.
Agility vs. Entrenchment
Dan Babington, Co-founder of Rising Tide AI, noted the agility of smaller businesses in adopting new technologies compared to their larger counterparts. He advocates for flexible, secure platforms that can integrate various systems without locking businesses into a single provider.
Looking Beyond the Property Industry
Giles Beswick, Director at Select Property, suggested learning from other industries, like hospitality, for effective tech solutions. He believes in balancing automation with the human touch to enhance tenant experiences and community management.
What does the future look like for PropTech?
As the roundtable concluded, it was clear that while PropTech is far beyond being a buzzword, its implementation must be strategic and
customer-focused. Whether it’s through bespoke solutions for SMEs or innovative CRMs for larger firms, the property industry stands at the cusp of a tech-driven transformation.
For a deeper dive into the discussion, read the full article from Insider Media here.
Be sure to keep an eye on us at Rising Tide AI, we’re all about pushing the envelope of innovation and efficiency in the property sector. If this roundtable is any indication, the future looks promising!
