Building Engines Announces Launch of Prism—The Broadest, Most Innovative Building Operations Software Platform for Commercial Real Estate
Open, Enterprise-Class Platform Improves Net Operating Income Across CRE Portfolios
BOSTON–(BUSINESS WIRE)–#BostonCRE—Building Engines, the leading provider of building operations software for modern commercial real estate (CRE), today announced the launch of Prism. The new platform is designed to improve net operating income (NOI) across all market sectors, from office, retail, industrial, to medical office and mixed-use buildings. Property teams relying on Prism can deliver the best occupant experience, increase revenue and reduce operating costs, while enjoying a modern software experience that’s explicitly designed for each member of the property team.
Prism helps property teams deliver an exceptional building experience for all occupants — tenants, visitors, property management teams, engineers and maintenance teams, vendors, leasing teams and asset managers, among others. The platform also facilitates a productive landlord-tenant relationship by addressing long-standing problem areas in CRE by offering simple-to-submit service requests, interactive visualizations of space management and building communications delivered to any device.
Today, CRE owners and operators struggle to operate an increasingly complex IT stack, while keeping costs under control and NOI high as they try to balance mounting tenant demands. Now more than ever, it’s imperative to have secure, interoperable systems in place that scale cost efficiently as a portfolio grows. Prism solves these challenges and is the only cloud-based platform in CRE with an open, API-first architecture that seamlessly integrates into an existing IT ecosystem. The platform also meets stringent security, data privacy and regulatory requirements, including GDPR, SOC II and CCPA, while also being ADA compliant.
“Prism is based on a bedrock of customer and partner input, the need to meet a broad range of operational requirements particular to CRE and our own best practices hewn from 20 years of market leadership. This platform is born out of our vision to create an exceptional experience for every person, in every building,” said Tim Curran, CEO of Building Engines.
“Our innovative designs, in collaboration with our customers, fueled by major investments and years of development, have enabled us to bring to market the broadest and most powerful building operations platform for the commercial real estate industry. Simply put, this industry has never seen anything close to this level of innovation in a building operations platform until now,” continued Curran. “Our main goal with Prism is to improve net operating income across all commercial real estate portfolios. We developed a platform that addresses some of the most pressing pain points owners and operators experience and built it to scale and adapt as the industry continues to transform. I couldn’t be prouder of the team or more excited for our customers.”
Prism’s self-service design drastically reduces the time and effort required to achieve a measurable ROI by enabling operators to stand up buildings in minutes, without requiring professional services. The platform incorporates cutting-edge technology such as artificial intelligence to power a virtual assistant, Bengie, while providing real-time alerts and notifications. Prism also delivers the industry’s most advanced interactive visualization of building stacks and floor plans to pinpoint operating challenges and opportunities within a single building or across an entire portfolio.
“Hines is known for customer service and implementing cutting-edge solutions across our portfolio, consistently taking our operational excellence to the next level. We are proud to have partnered with Building Engines on the development of Prism. The platform’s sophisticated design and capabilities will allow our teams to successfully deliver a best-in-class experience on a global scale for anyone who enters our buildings,” said Jesse Carrillo, Senior Vice President, Chief Information Officer at Hines, a global real estate investment, development and management firm. “We’re always focused on smart, long-term decision making and implementing an innovative, central hub platform maps to that strategy.”
With Prism, customers will be able to add modules as needed. There are currently eight unique modules on the platform, with several more in development, including:
- Work orders: Provides full visibility over a portfolio with a list of work status. The module gives operators the ability to start work quicker with a list of work sorted automatically by predefined priority levels, and allows tenants to submit work on devices and platforms they prefer
- Preventive Maintenance: Sets a standardized, consistent preventive maintenance schedule, and provides better insight into the expected life of equipment
- Building Communications: Expands reach to tenants with email or text, as well as apps like Slack, using Bengie. This module creates a message, selects recipients and adds images in a simple step, while tracking and managing communication history in a single view
- Insurance: Manages certificates of insurance for vendors and tenants and provides a view of overall company compliance status. The module also mitigates risk by easily catching canceled or expired policies
- Space Management: Enables view of floor plans and stacking diagrams while managing tenant documents from one streamlined view. Minimizes time to lease with up-to-date floor plans and maximizing rental square footage (RSF) with the latest measurement standards
- RFP Automation: Reduces costs on vendor and project bidding by 80% using a streamlined process that automates side-by-side vendor response comparison creation that drives complete transparency and visibility throughout the request process
- Inspections: Increase productivity, maintain standards and gain insight into your properties by easily evaluating building conditions, quickly capturing critical data and ensuring portfolio-wide inspection consistency
- Bengie: Building Engines’ virtual assistant is the industry’s first truly modern tenant communication experience, helping tenants to serve themselves easily using the devices and tools they use every day, such as text messaging and Slack. Tenants can simply text Bengie to request services and receive important building information from property management
The foundation of Prism is uniquely built on Building Engines’ 20-year track record of delivering building operations excellence for more than 850 customers across more than 26,000 buildings and over 2.5 billion square feet of commercial real estate across the United States.
For more information on Prism and to schedule a demo, please visit the Prism website. Please also join us for a webinar on September 24th at 2:00 pm ET with Building Engines’ CEO, Tim Curran, and chief product officer, Daniel Cozza, to learn more about Prism.
About Building Engines
Building Engines improves net operating income across the world’s most successful Commercial Real Estate portfolios. Our customers increase their revenue, deliver the best occupant experience, and reduce their operating costs using our innovative building operations software platform, Prism. Founded in 2000 and headquartered in Boston, with offices in New York City and Scottsdale, Building Engines is developing, acquiring and partnering to address long-standing problems in building operations. Today, more than 850 customers—including Beacon Capital Partners, Cushman & Wakefield and SL Green—rely on Building Engines to manage critical operational needs across more than 2.5 billion square feet and 26,000 properties worldwide. To learn more, please visit www.buildingengines.com.
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