Technology plays a core role in property business

INVESTORS and property owners may be looking nervously in the direction of the Reserve Bank as pressure on interest rates builds, but their efforts to maintain strong returns on investments have an ally in the growing technology solutions provider sector.

One business working towards this goal is Core Vision. After just 30 months of operation the Perth-based property technology solutions company is riding high on its concept of web-enabled property management for listed property trusts and A-grade buildings.

Established under the slogan: ‘If it can’t be measured it can’t be managed’, Core Vision has designed and implemented a range of technology solutions that address tenant management, asset management, energy auditing and document management.

The premise behind the company’s technological solutions is to provide greater protection and efficient management of the client’s multi-million dollar asset.

Core Vision, which recently won its first international contract, has its technology solution systems in 1.4 million square metres of commercial space in Australia and has grown by 90 per cent in the past 12 months.

Co-founding director Chris Wallbank said no other property technology solutions companies in Australia could match Core Vision’s level of market penetration.

Among the company’s clients are east coast listed property trust General Property Trust, Central Park, Hartley’s building, Forrest Centre and the Exchange.

Mr Wallbank said the process of managing tenants was often left out of property management.

A property manager’s daily duties can include dealing with multiple requests from tenants wanting anything from air-conditioning adjustments, to fixing the toilet or arranging the booking of a conference room facility. 

Mr Wallbank said that, rather than those requests being sent in on fax, phone or e-mail, the company had created a web system that could both record and track tenants’ requests, yielding a complete summary of all a building’s faults and allowing property managers to better manage the building.

The system ensures the chain between tenant and property manager didn’t break down, as it often did in a large building, and that tenants’ requests are met in the appropriate timeframe.

“By freeing up property managers from tenant requests they can manage the asset rather than the asset managing them,” Mr Wall-bank said.

Core Vision also implements document management into its online systems. Many high rise buildings often have up to 3,000 building plan documents, commonly stored in the basement. By scanning and collating these documents into a web site the documents are more easily accessed and originals do not disappear or get damaged with use.

After its success in implementing technology solutions into the Australian property industry, Core Vision is branching out overseas, having secured a tender to develop a web-based property portal for the Jakarta Stock Exchange Building – the international contract is a first for the company.

Co-founding director Jeff Binks said the contract was a significant win for Core Vision. 

“Not only will we be developing the web site for the JSEB from our Perth offices, but Core Vision will also undertake the ongoing management and maintenance of the JSEB property portal – all which can be performed remotely from our offices here in Perth,” he said.

The company will develop online services for tenants, a comprehensive management tool for the property management team and feature leasing and building features.

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