Building Engines Announces Prism, the First Operating Platform for Modern CRE

BOSTON, MASSACHUSETTS

New platform designed to meet the rapidly evolving needs of owners and managers for the next 20 years.

Building Engines, the Commercial Real Estate (CRE) industry’s innovation leader in SaaS property operating solutions, today announced Prism by Building Engines™, the CRE industry’s first modern building operations software platform built for the age of intelligent building operations. The announcement was made today at the company’s annual customer conference, TRANSFORM, in Boston, MA.

Building Engines created Prism to help CRE professionals to excel and adapt, even in the face of major shifts rocking the CRE industry today including the proliferation of new technologies, demanding tenants, and a changing CRE environment:

• The CRE “tech-storm” — Many CRE professionals are overwhelmed with the explosion of new, but often siloed, CRE systems available today, now in excess of 4,200 at last count. CRE professionals who make or influence purchasing decisions for technology solutions lack confidence in their overall technology effectiveness, according to the BOMA CRE Technology Trends 2018 report. Building Engines believes that professionals can only get value and deep insight from tools if data is connected across systems.
• Demanding tenants — As workplaces transform from “employee warehouses” into “talent magnets,” many tenants are demanding higher service levels and the ability to interact with buildings using familiar communication channels such as text messaging.
• Changing CRE environment — Today’s CRE workforce is shrinking and aging, soon to be supplanted with future generations. For example, the average age of property managers is 52, according to IREM. Millennials, expected to be half of the overall workforce by 2020 (per MRI Network) will expect CRE tech that is as friendly as consumer tech is today. As new business models such as coworking continue to gain traction, traditional CRE will continue to be disrupted in new and unforeseen ways.

Prism Is Modern SaaS Software For The Changing CRE Operations Of Today And Tomorrow

“No matter what changes come tomorrow in CRE, high-performing property management is the foundation that will allow teams to handle them with confidence,” said Tim Curran, CEO of Building Engines. “Operations has never been more important to a building’s overall performance, but it is changing. The future of CRE requires a new outlook on operations focused on building intelligence.”

Prism helps companies to thrive in this new age of intelligent building operations by harnessing more insight and delivering tailored user experiences, all delivered on a platform that has been designed to scale, adapt, and power CRE property teams well into the future.

• Open API drives deeper insight across operations — Now CRE leaders can harness more CRE tech without the pain. The Prism platform’s open API will combine operational property management data with data from other systems such as energy management, risk management, and tenant engagement, enabling managers to correlate data across systems and peer deeper into and improve all aspects of property operations.
• Role-based experiences — Unlike today’s property management software, the Prism platform delivers role-based user experiences that are tailored to the specific needs of tenants, engineers, and property management teams so each can perform their best with less effort. Prism’s new dashboard and streamlined graphical user experience help every user to quickly get to what they need while focusing on what’s most important, so they can better serve tenants.
• A modern platform for today and tomorrow — Redesigned from the ground-up, the modern Prism platform has been architected to serve customers well into the future with new and enhanced capabilities for connection, global scale and agility, and enterprise-grade security and regulatory compliance including SOC II, ADA, and GDPR.

Building Engines’ Most Extensive Development Project
Prism has been under development for more than a year and is Building Engines’ largest software development project to-date. Since the company’s latest round of equity investment in fall of 2016, it has hired new world-class software developers, user experience designers, CRE practitioners, and process experts – one of the largest teams in the property management space. The team conducted extensive market research in order to create an entirely new, scalable and flexible enterprise platform designed to serve the needs of diverse users for the next 20 years.

“We’re excited to bring the cutting edge of CRE technology to modern property management teams,” said Daniel Cozza, Chief Product Officer of Building Engines. “Our team took a completely fresh approach to develop the CRE platform of the future. Now property management teams can have the confidence of knowing about virtually every aspect of property operations so they can manage with confidence and control.”

Availability
Prism by Building Engines has been deployed in limited early release since December of 2018. Additional Building Engines and partner modules will become available over the next year.

About Building Engines
Building Engines delivers intelligent building operations through the commercial real estate industry’s most innovative SaaS web and mobile portfolio management platform, providing building teams with the data and insights they need to improve operational efficiency, mitigate risk, measure and improve tenant satisfaction, and to make better, data-driven decisions.

The Building Engines integrated suite of solutions supports the full range of critical building operations, including tenant engagement and service, maintenance management, communications, task, and operational risk management.

Clients of Building Engines include many of the leading public REITs, private owner/managers and third-party management firms in the United States and Canada operating multi-tenant commercial office, medical office, retail and industrial properties.

Building Engines and Prism by Building Engines are trademarks of Building Engines, Inc.