The Marketplace
What is really happening inside the industries you sell to the most? Industry insiders from medical, retail, restaurants, government, schools & colleges, and professional services reveal the technology behind the plan to buy now and in the next year. Explore the sessions and openly share ideas as you join roundtable discussions and networking lounges.
Cloud Conventions 2021
May 12-14
View the On Demand Sessions
Navigate the "Next Normal"
The Marketplace On Demand Sessions
The Recovery of the Restaurant Industry
2020 challenged the industry, but there is quite a bit to keep your eye on in 2021 as the industry recovers. Our panel of industry experts bring an interesting perspective on the trends to keep in mind as you work with your restaurant customers.
Using Cloud Services to Support Digital Health Transformation
Today we are delivering hospital-level, patient-centric, individualized care for patients at home via remote patient monitoring.
Technology that Drives Efficiency in Transportation and Logistics
The growth in the transportation and logistics industry has never been stronger as in the past year. Discover technology strategies that are the "next normal" in the industry
Network & Connect
Ask the Experts
Speakers and panelists joined the Meet the Expert lounges, available after sessions for attendees to take a deeper dive and join the conversation.
The Networking Lounge
The Cloud Coffee Corner opened each morning and the day ended with a casual lounge & Comedy Night on Thursday.
The Latest from Cloud Conventions 2021:
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The Recovery of the Restaurant Industry
The Recovery of the Restaurant Industry
After what is undeniably the most challenging year the restaurant industry faced in 2020 there is quite a bit to keep your eye on in 2021 ...
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05/14/2021
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After what is undeniably the most challenging year the restaurant industry faced in 2020 there is quite a bit to keep your eye on in 2021 as the industry recovers. Our panel of industry experts bring an interesting perspective on the trends to keep in mind as you work with your restaurant customers. Join panelists Robb McKerrow, CEO of r*development, a restaurant brand strategist, Efrem Cutler, the VP of R&D, Corporate Executive Chef for Bloomin' Brands, Michael Cala Head of Procurement and Category Management, for Cheetah Foodservice and Karen Bremer, CEO of the Georgia Restaurant Association as they give you their insights on the restaurant industry in 2021 and beyond.
Interested in learning more about Cloud Conventions Virtual Events?
Visit Cloud Conventions »
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Visit Convey Services »
The Recovery of the Restaurant Industry
On Demand Sessions
After what is undeniably the most challenging year the restaurant industry faced in 2020 there is quite a bit to keep your eye on in 2021 as the ...
Technology that Drives Efficiency in...
Technology that Drives Efficiency in...
The growth in the transportation and logistics industry has never been stronger as in the past year. As we stayed home and locked down, ...
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jplist-topic-Transportation jplist-topic-Logistics
05/14/2021
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The growth in the transportation and logistics industry has never been stronger as in the past year. As we stayed home and locked down, businesses and consumers moved to an online economy ordering everything from groceries to building supplies that needed to be shipped and delivered. With the explosion in demand, technology became the driver to increase efficiency and enable the industry to keep goods moving and deliveries on target. Join our panel to discover the technology strategies that evolved and accelerated during the pandemic that have now become the "next normal" in the transportation and logistics industry.
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Technology that Drives Efficiency in Transportation and Logistics
On Demand Sessions
The growth in the transportation and logistics industry has never been stronger as in the past year. As we stayed home and locked down, businesses ...
Inspiring Your Virtual Workforce
Inspiring Your Virtual Workforce
Most of the workforce stayed home last year and many office workers will now be given the choice to work virtually long-term. Without the ...
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jplist-topic-virtual jplist-topic-workforce
05/12/2021
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Most of the workforce stayed home last year and many office workers will now be given the choice to work virtually long-term. Without the day-to-day connections that come from casual conversations in the office, going to lunch with coworkers, or just having that personal touch, a virtual worker can feel isolated and uninspired. Join Michelle Cummings, founder of the Big Wheel and Personify Leadership and Training Wheels, a known leader in the team building field to guide us through strategies to inspire a virtual workforce.
Interested in learning more about Cloud Conventions Virtual Events?
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Inspiring Your Virtual Workforce
On Demand Sessions
Most of the workforce stayed home last year and many office workers will now be given the choice to work virtually long-term. Without the day-to-day ...
Using cloud services to support digital health...
Using cloud services to support digital health...
digital
Interested in learning more about Cloud Conventions Virtual Events? Visit Cloud Conventions » ...
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05/19/2021
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Interested in learning more about Cloud Conventions Virtual Events?
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Visit Convey Services »
Using cloud services to support digital health transformation
On Demand Sessions
Interested in learning more about Cloud Conventions Virtual Events? Visit Cloud Conventions » ...
Using cloud services to support digital health...
Using cloud services to support digital health...
Interested in learning more about Cloud Conventions Virtual Events? Visit Cloud Conventions » ...
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jplist-topic-cloud jplist-topic-health jplist-topic-services
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Interested in learning more about Cloud Conventions Virtual Events?
Visit Cloud Conventions »
Want to learn about Convey Services Partner Portals?
Visit Convey Services »
Using cloud services to support digital health transformation
On Demand Sessions
Interested in learning more about Cloud Conventions Virtual Events? Visit Cloud Conventions » ...
Inspiring Your Virtual Workforce
Inspiring Your Virtual Workforce
Interested in learning more about Cloud Conventions Virtual Events? Visit Cloud Conventions » ...
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On-Demand-Sessions-On-Demand-Sessions
jplist-topic-virtual jplist-topic-workforce
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511476
Interested in learning more about Cloud Conventions Virtual Events?
Visit Cloud Conventions »
Want to learn about Convey Services Partner Portals?
Visit Convey Services »
Inspiring Your Virtual Workforce
On Demand Sessions
Interested in learning more about Cloud Conventions Virtual Events? Visit Cloud Conventions » ...
Technology that Drives Efficiency in...
Technology that Drives Efficiency in...
Interested in learning more about Cloud Conventions Virtual Events? Visit Cloud Conventions » ...
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jplist-topic-technology jplist-topic-Logistics jplist-topic-effi
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Interested in learning more about Cloud Conventions Virtual Events?
Visit Cloud Conventions »
Want to learn about Convey Services Partner Portals?
Visit Convey Services »
Technology that Drives Efficiency in Transportation and Logistics
On Demand Sessions
Interested in learning more about Cloud Conventions Virtual Events? Visit Cloud Conventions » ...
The New Workplace Strategies for Professional...
The New Workplace Strategies for Professional...
Senator John Albers, Adam Moleski, Kris Dobbins
Interested in learning more about Cloud Conventions Virtual Events? Visit Cloud Conventions » ...
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jplist-topic-marketplace jplist-topic-Insurance jplist-topic-legal jplist-topic-accounting
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511458
Interested in learning more about Cloud Conventions Virtual Events?
Visit Cloud Conventions »
Want to learn about Convey Services Partner Portals?
Visit Convey Services »
The New Workplace Strategies for Professional Services Organizations
On Demand Sessions
Interested in learning more about Cloud Conventions Virtual Events? Visit Cloud Conventions » ...
Recovery of the Restaurant Industry
Recovery of the Restaurant Industry
Interested in learning more about Cloud Conventions Virtual Events? Visit Cloud Conventions » ...
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jplist-topic-restaurants jplist-topic-The-Marketplace
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Interested in learning more about Cloud Conventions Virtual Events?
Visit Cloud Conventions »
Want to learn about Convey Services Partner Portals?
Visit Convey Services »
Recovery of the Restaurant Industry
On Demand Sessions
Interested in learning more about Cloud Conventions Virtual Events? Visit Cloud Conventions » ...
Trends in the Commercial Real Estate Marketplace...
Trends in the Commercial Real Estate Marketplace...
Ronnie Cannon, the WM Leonard Company
Most businesses had to make the hard pivot to a virtual work environment as states imposed regulations and lockdowns during the Pandemic of ...
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Most businesses had to make the hard pivot to a virtual work environment as states imposed regulations and lockdowns during the Pandemic of 2020. Now that the workforce is getting vaccinated, companies are thinking about how to manage their workforce and office strategies. Ronnie Cannon, Managing Director of the William Leonard Company, leads a commercial real estate team focused on high technology clients. Join Ronnie and his panel for a discussion on what companies are likely to do as they return to the office. Ronnie explores the migration plans of companies to regional offices, what industry segments are likely to come back to the office or stay virtual, and what you should know about the return to the office.
Trends in the Commercial Real Estate Marketplace for 2021 and Beyond
On Demand Sessions
Most businesses had to make the hard pivot to a virtual work environment as states imposed regulations and lockdowns during the Pandemic of 2020. Now ...
Justin Moritz-Pahde
Justin Moritz-Pahde
Director of Sales Strategy at The FSL Group
Click here to request a meetingI am passionate about integrating creative, innovative techniques with proven processes to produce ...
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Justin Moritz-Pahde
Speaker Profile
Click here to request a meetingI am passionate about integrating creative, innovative techniques with proven processes to produce evolutionary & ...
Jeffrey Fischer
Jeffrey Fischer
Owner, The Whole Business, LLC LLC (Logistics, Process Improvement, and ...
Click here to request a meetingJeff Fischer has over 35 years of experience in the Global Supply industry with the final 25 at UPS. During ...
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Jeffrey Fischer
Speaker Profile
Click here to request a meetingJeff Fischer has over 35 years of experience in the Global Supply industry with the final 25 at UPS. During his UPS ...
John Albers
John Albers
State Senator, Georgia
Click here to request a meetingJohn Albers background spans roles as a CIO, CISO, CMO and COO. John has a proven record of leading large ...
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Click here to request a meetingJohn Albers background spans roles as a CIO, CISO, CMO and COO. John has a proven record of leading large teams, growing and managing clients from SMBs to Fortune 500 companies. As a current Georgia State Senate, John Albers was first elected in 2011. He represents the 56th District, which includes portions of Fulton and Cherokee County. He serves as Chairman of the Senate Public Safety Committee. Senator Albers also serves as Vice Chairman of the Senate Finance Committee, and as a member of the Senate Appropriations, Rules, Regulated Industries and Utilities, and the Veterans, Military and Homeland Security Committees.
Senator Albers is a fourth-generation firefighter serving as a volunteer in Alpharetta and member of the Georgia Firefighters Association. Albers earned his Bachelor of Science degree in Organizational Leadership from the University of Louisville. Albers also completed graduate programs from the University of Georgia and Harvard University. When not attending to state business, Senator Albers is an executive, business owner and entrepreneur.
John Albers
Speaker Profile
Click here to request a meetingJohn Albers background spans roles as a CIO, CISO, CMO and COO. John has a proven record of leading large teams, ...
Ronnie Cannon
Ronnie Cannon
Managing Director, Wm. Leonard & Co.
Click here to request a meetingRonnie Cannon has been active in the commercial real estate advisory industry since 1997 and has significant ...
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jplist-topic-commercial-real-estate jplist-topic-WM-Leonard---Co
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Click here to request a meetingRonnie Cannon has been active in the commercial real estate advisory industry since 1997 and has significant expertise in the development and implementation of real estate and workplace strategies that helps organizations drive greater profitability and avoid the unforeseen risks associated with real estate decisions and agreements. For the last 6 years, Ronnie has served as the Managing Director of the William Leonard & Co, an Atlanta-based commercial real estate firm specializing in representing hundreds of tenants over the years align their real estate strategy with their company's business plan.
Prior to joining the Wm. Leonard & Co team, Ronnie was a principal for 15 years at Cresa, headquartered in Washington, DC, an occupier-centric commercial real estate firm with over 80 offices serving 2,000 clients nationwide.
Ronnie Cannon
Speaker Profile
Click here to request a meetingRonnie Cannon has been active in the commercial real estate advisory industry since 1997 and has significant expertise ...
Kris Dobbins
Kris Dobbins
CPCU, Marketing, SecureRisk, LLC
Click here to request a meetingKris Dobbins directs the marketing activities for SecureRisk the 4th largest insurance agency partnership in ...
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Click here to request a meetingKris Dobbins directs the marketing activities for SecureRisk the 4th largest insurance agency partnership in the United States with over 100 agency members across the Southeast. Kris focuses on bringing value to the owner-member agencies by providing various tools and resources to help agencies streamline their sales process, market their solutions and grow their agency revenue. Kris helps bridge the relationships between the agency members and over 85 partner carriers and service providers endorsed by the SecureRisk network to ensure that the producers and owners have a full view of the insurance products available for commercial and personal lines as well as technology and services needed to run the agency.
Prior to joining SecureRisk eleven years ago, Kris had first-hand experience in the insurance carrier world in various roles within the property and casualty insurance industry as a commercial lines specialist, senior marketing underwriter and commercial lines broker.
Kris Dobbins
Speaker Profile
Click here to request a meetingKris Dobbins directs the marketing activities for SecureRisk the 4th largest insurance agency partnership in the ...
Gene Theslof
Gene Theslof
Chairman & CEO, My Health Connection, Inc
Click here to request a meetingTheslof is the founder of My Health Connection, Inc. (MHC), a global telehealth services provider. Theslof ...
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jplist-topic-Gene-Theslof jplist-topic-My-Health-Connection jplist-topic-Inc
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Click here to request a meetingTheslof is the founder of My Health Connection, Inc. (MHC), a global telehealth services provider. Theslof previously built and sold the nation's first large telehealth company and sold it to Stryker, now Stryker Communications, currently a $400M business. Mr. Theslof is one of the fathers of telehealth having built a national hospital network prior to the Internet's existence. Mr. Theslof built an integrated set of SMARTCOM Telehealth Platforms for MHC that are being used by hospitals, practices and health care companies today. Theslof included eight modules to the HIPAA complaint Platform including a multiplicity of remote patient monitoring tools and portals including a game changing noninvasive FDA and CE approved cardiovascular monitor known as, MyNICaS. This portable device tests a patient's hemodynamics and provides17 actionable data items to physicians enabling them to titrate the patient wherever they may be. Using this portable device has dramatically cut readmissions for skilled nursing facilities and HCAs. MHC currently has systems in 23 states. MHC's tools enable any participating medical provider to treat their patients in place (for example at home or in a skilled nursing facility ) without admitting them back into emergency rooms or hospitals
Gene Theslof
Speaker Profile
Click here to request a meetingTheslof is the founder of My Health Connection, Inc. (MHC), a global telehealth services provider. Theslof previously ...
Gary Yates
Gary Yates
Principal, Hickey & Associates
Click here to request a meetingGary Yates is a Principal in Hickey & Associations, a global leader in site selection, location ...
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jplist-topic-Gary-Yates jplist-topic-Hickey---Associates
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Click here to request a meetingGary Yates is a Principal in Hickey & Associations, a global leader in site selection, location strategy, credits & incentives advisory, and labor analytics with active projects in the Americas, Asia, Europe, Australia, and Africa. HICKEY assists businesses with the critical data capture and strategic vision to navigate a global real estate footprint. Gary is a highly accomplished and enterprising location selection executive and has both domestic and international experience in project management, sales, analysis, and strategy. In his position at HICKEY, Gary ensures that his clients have optimal geographic locations for their businesses across varied industries, with focus on workforce issues and demographic trends.
Prior to Hickey & Associates, Gary served as Vice President of Consulting for JLL, a leading professional services firm that specializes in real estate and investment management and as Director of Site Selection for the Staubach Company
Gary Yates
Speaker Profile
Click here to request a meetingGary Yates is a Principal in Hickey & Associations, a global leader in site selection, location strategy, credits ...
Chef Efrem Cutler
Chef Efrem Cutler
VP of R&D, Bloomin' Brands International
Click here to request a meetingChef Cutler develops and engineers the core menu recipes for Bloomin' Brands International, Fleming's Prime ...
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Chef Efrem Cutler
Speaker Profile
Click here to request a meetingChef Cutler develops and engineers the core menu recipes for Bloomin' Brands International, Fleming's Prime Steakhouse ...
Michael Cala
Michael Cala
Head of Procurement and Category Management, Cheetah Foodservice
Click here to request a meetingMichael Cala directs the procurement and category management for Cheetah Foodservice, an e-commerce platform ...
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jplist-topic-procurement jplist-topic-category-management jplist-topic-Cheetah-Foodservice jplist-topic-e-commerce jplist-topic-restaurants
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Click here to request a meetingMichael Cala directs the procurement and category management for Cheetah Foodservice, an e-commerce platform designed for independent restaurants to order restaurant supplies at wholesale prices in San Francisco and the Bay Area. Over 3,000 restaurants login and order through Cheetah's supply app, providing the simplest, most affordable way for restaurants to get their daily supplies.
Michael's long career in foodservice encompasses founding a consulting organization dedicated to helping organizations in the foodservice industry develop go to market strategy that included B2B and B2B sales, product and brand marketing, and category management and merchandising. Michael has held a variety of sales and marketing positions in foodservice including district sales management at SYSCO, sales and marketing leadership positions at US Foods, Regional Vice President at Frosty Acres, and Vice President of Sales and Marketing for Palo Alto Foods.
Michael Cala
Speaker Profile
Click here to request a meetingMichael Cala directs the procurement and category management for Cheetah Foodservice, an e-commerce platform designed ...
Rick Strobridge
Rick Strobridge
CEO, Rx.Health
Click here to request a meeting Rick is an award-winning digital health CEO and successful inventor with proven expertise in start-up ...
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Click here to request a meeting
Rick is an award-winning digital health CEO and successful inventor with proven expertise in start-up development and growth in the healthcare and clinical research sectors. Currently Rick is serving as the CEO of Rx.Health, a company defining the delivery of digital medicine by bringing the first enterprise-wide curation, prescription, and engagement platform to hospitals, pharma, and payers in an affordable and scalable way. Rx.Health partners with life sciences, national societies, health systems, and payers.
Rick is a successful entrepreneur and the founder or co-founder of seven companies and one non-profit. He invented the first wireless blood glucose meter, diabetes mobile app and cloud-based patient management platform and took it from product concept to engineering and software development to production and regulatory approvals in 50 countries.
Rick managed the acquisition of Fortune 500 customers including Lilly, Sanofi, Mayo Clinic, Cleveland Clinic, Verizon, Telstra, UCSD Health, Kaiser Permanente, Lexicon Pharmaceuticals, Merck, ERT, Covance, IQVIA and others.
Rick's awards include the New Product Innovation Award 2x, Best Practices Award, High Tech America Award, Nokia Innovation & Excellence Award, eHealthcare Leadership Award, and Digital Health Global 100 Award.
Rick Strobridge
Speaker Profile
Click here to request a meeting Rick is an award-winning digital health CEO and successful inventor with proven expertise in start-up development and ...
Phillip Hancock
Phillip Hancock
Technology Leader and Enterprise Architect, Shred-it
Click here to request a meetingShred-it is the largest document destruction provider in the world. In 14 countries and in 170 markets, ...
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jplist-topic-Phillip-Hancock jplist-topic-Shred-it
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Click here to request a meetingShred-it is the largest document destruction provider in the world.
In 14 countries and in 170 markets, we've become the world-standard and industry best-practice for information security and workplace privacy.
In the more than 30 years since our inception, we have developed proprietary technologies, exclusive protocols and practices, and innovative products and services, designed exclusively to protect businesses of any size from the ongoing threats and risks of workplace privacy breaches.
As the trusted choice of both small businesses and large organizations, you will find Shred-it is the preferred partner across almost every sector - from government and healthcare, universities and colleges, banks and financial institutions, to police forces, military, and intelligence agencies.
Phillip Hancock
Speaker Profile
Click here to request a meetingShred-it is the largest document destruction provider in the world. In 14 countries and in 170 markets, we've become ...
Mike Evans
Mike Evans
Founder of Box Line Box, Inc.
Click here to request a meetingMike is the founder of Box Line Box, Inc., he brings his expertise in telecommunications, healthcare ...
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jplist-topic-Mike-Evans jplist-topic-Box-Line-Box jplist-topic-Inc-
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Mike Evans
Speaker Profile
Click here to request a meetingMike is the founder of Box Line Box, Inc., he brings his expertise in telecommunications, healthcare information ...
Karen Bremer
Karen Bremer
CEO, Georgia Restaurant Association
Click here to request a meetingWith over 44 years in the hospitality industry, Bremer is the CEO of the Georgia Restaurant Association ...
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jplist-topic-Georgia-Restaurant-Association jplist-topic-GRA jplist-topic-GRC
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Click here to request a meetingWith over 44 years in the hospitality industry, Bremer is the CEO of the Georgia Restaurant Association (GRA), representing one of the largest industries in the state. The GRA serves as the unified voice for over 18,500 foodservice and drinking places in the state of Georgia with total sales in excess of $20 billion which provides more than 476,000 jobs.
Bremer was the former owner of Dailey's and City Grill restaurants and was a top executive with the Peasant Restaurant Group, starting out as a manager andultimately being named its president. Bremer is a founding member of the GRA and the past president of the GRA Board. She serves on the executive committee for the National Restaurant Association, board of directors for the Atlanta Convention & Visitors Bureau (ACVB), and serves as vice president for the Council of State Restaurant Associations. She also sits on the Industry Advisory Board of Georgia State University's Cecil B. Day School of Hospitality Administration and is a trustee of the Arby's Foundation. She is a member of Les Dames d'Escoffier International and the International Women's Forum.
Bremer has garnered numerous awards including the ACVB Member of the Year Award in 2002 for her role in founding Downtown Atlanta Restaurant Week. In 2015, she was inducted in the ACVB Hospitality Hall of Fame. In 2009, Bremer received the Lifetime Achievement GRACE (Georgia Restaurant Association Crystal of Excellence) Award for her outstanding contributions to Georgia's restaurant industry. In 2016, 2017 and 2018 Bremer was named one of Georgia Trend Magazine's "100 Most Influential Georgians of the Year" in addition to being listed as a notable Georgian by Georgia Trend Magazine in 2013, 2014 and 2015. She was also names as one of the Top Registered Female Lobbyists in 2017 by James Magazine.
Karen Bremer
Speaker Profile
Click here to request a meetingWith over 44 years in the hospitality industry, Bremer is the CEO of the Georgia Restaurant Association (GRA), ...
John Wichmann
John Wichmann
Co-Founder and COO, Maptician
Click here to request a meeting John Wichmann is COO and co-founder of Maptician. Maptician is a cloud-based workplace enablement solution ...
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jplist-topic-John-Wichmann jplist-topic-Maptician
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John Wichmann
Speaker Profile
Click here to request a meeting John Wichmann is COO and co-founder of Maptician. Maptician is a cloud-based workplace enablement solution that helps ...
Robb McKerrow
Robb McKerrow
Restaurant Design & Branding Expert, r*development
Click here to request a meetingFor the last 11 years Robb McKerrow has lead r*development, a design and branding consultancy with a strong ...
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Click here to request a meetingFor the last 11 years Robb McKerrow has lead r*development, a design and branding consultancy with a strong track record of developing concepts that resonate with the consumer and bring strong economic returns for the ownership. By understanding the competitive landscape and trends in consumer behavior, they create branded designs that are operationally sound and lay a foundation for concept success, as well as a strong visual appeal. A particular specialty and focus is on retooling existing brands that have lost their relevance and competitive edge bringing them back to life. Robb's design work is distinctive yet budget-driven and very "cool".
Robb has overseen the design and development of over 1000 restaurant locations for regional and national chains, as well as creating many strong local independent locations such as Cabernet, Pampas Steakhouse, Frankie's Steakhouse, Fresh to Order, Tara Humata, Del Frisco's, Canoe, Giorgio's Family Kitchen, Taffer's Tavern, Twisted Fork and Nick & Jake's.
Branded restaurant & retail prototypes developed by Robb over the years have included Longhorn Steakhouse, Lone Star Steakhouse, Tanner's, Arby's, Mrs Winners, Shane's, PJ's Coffee, Doc Green's, Bonehead's, Planet Smoothie, Flying Biscuit, Flip Flop Shops, Appleton Learning, Twin Peaks, 5 & Diner, Buffalo's Café, Ted's Montana Grill, Golden Rule BBQ, Shoney's, Atlanta Bread Co., The Grape, Miller's Ale House, O'Charley's & Surchero's Fresh Mex. On the boards is a new high-end Steakhouse to be named H&W in Peachtree Corners, GA being operated by The Norsan Group.
From 1989 to 2000, Robb owned and operated RDM Design, an Award-winning A&D firm focused on the multi-unit restaurant industry. Robb headed a 25-man team of designers, architects and engineers for 10 years designing prototypes and rolling out hundreds of locations across the US and Puerto Rico for national brands in QSR and Casual Dining.
Robb McKerrow
Speaker Profile
Click here to request a meetingFor the last 11 years Robb McKerrow has lead r*development, a design and branding consultancy with a strong track ...
Ryan Crandall
Ryan Crandall
Director of IoT & Mobile Solutions, MetTel
Click here to request a meetingRyan Crandall directs the IoT and Mobile Solutions for MetTel, a leading provider of customized, integrated ...
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jplist-topic-Ryan-Crandall
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Click here to request a meetingRyan Crandall directs the IoT and Mobile Solutions for MetTel, a leading provider of customized, integrated and managed communications solutions for enterprise customers. MetTel offers IoT [Internet of Things] fleet management technology to help customers automate their fleets for greater efficiency, insight and control. In addition to developing the transportation and logistics industry and offerings for MetTel, Ryan has also served as the VP of Sales for North America for Retriever Communications, a provider of field service management software, Director of Sales for LoJack Corporation and Director of Enterprise Sales & Strategy for Navtrack, now a Verizon company.
MetTel's fleet management automation technology provides visibility and helps organizations manage their entire fleet and mobile workforce providing "one pane of glass" that helps eliminate paperwork so that mobile workers have the tools at hand to do their work more efficiently. Connecting the vehicle and the workforce automation mobile applications using the SingleSIM solution, assuring coverage at any time for the field worker, equipment and vehicles, enables real-time access to information regardless of the cellular coverage in known dark areas of the city by enabling the best carrier signal is used at any time for data transmission.
Ryan Crandall
Speaker Profile
Click here to request a meetingRyan Crandall directs the IoT and Mobile Solutions for MetTel, a leading provider of customized, integrated and ...
Adam Moleski
Adam Moleski
Chief Information Officer, Frazier & Deeter, LLC
Click here to request a meetingAdam is the Chief Information Officer for Frazier & Deeter, LLC, a top 50 accounting firm headquartered ...
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jplist-topic-Adam-Moleski jplist-topic-Frazier---Deeter
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Click here to request a meetingAdam is the Chief Information Officer for Frazier & Deeter, LLC, a top 50 accounting firm headquartered in Atlanta, GA with offices in Charlotte, Las Vegas, Minneapolis, Nashville, New York, Philadelphia, Tampa, and London. Prior to his time at Frazier & Deeter, Adam was a Snr Citrix architect for Cenveo, Inc. (CVO), a leading global provider of print supply chain solutions for mid to large sized enterprises.
Adam Moleski
Speaker Profile
Click here to request a meetingAdam is the Chief Information Officer for Frazier & Deeter, LLC, a top 50 accounting firm headquartered in ...
The New Workplace Strategies for Professional...
The New Workplace Strategies for Professional...
Senator John Albers, Adam Moleski, Kris Dobbins
Professional services organizations are traditionally an office-bound workforce, but in 2020 they had to go against tradition and field a ...
27
Panel-Discussion-Panel-Discussion
jplist-topic-Insurance jplist-topic-legal jplist-topic-accounting jplist-topic-The-Marketplace
05/13/2021
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508556
Professional services organizations are traditionally an office-bound workforce, but in 2020 they had to go against tradition and field a virtual workforce. Lockdowns restricted staff to their homes, slowed down client projects and impacted billable work. Economic uncertainty impacted client budgets leading to the need for cost and operational efficiencies. Join our expert panel from the accounting, legal and insurance industries to navigate how changes they were forced to make in 2020 are impacting their workforce strategy for 2021.
The New Workplace Strategies for Professional Services Organizations
Panel Discussion
Professional services organizations are traditionally an office-bound workforce, but in 2020 they had to go against tradition and field a virtual ...
Trends in the Commercial Real Estate Marketplace...
Trends in the Commercial Real Estate Marketplace...
Ronnie Cannon, the WM Leonard Company
Most businesses had to make the hard pivot to a virtual work environment as states imposed regulations and lockdowns during the Pandemic of ...
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05/12/2021
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Most businesses had to make the hard pivot to a virtual work environment as states imposed regulations and lockdowns during the Pandemic of 2020. Now that the workforce is getting vaccinated, companies are thinking about how to manage their workforce and office strategies. Ronnie Cannon, Managing Director of the William Leonard Company, leads a commercial real estate team focused on high technology clients. Join Ronnie and his panel for a discussion on what companies are likely to do as they return to the office. Ronnie explores the migration plans of companies to regional offices, what industry segments are likely to come back to the office or stay virtual, and what you should know about the return to the office.
Trends in the Commercial Real Estate Marketplace for 2021 and Beyond
Panel Discussion
Most businesses had to make the hard pivot to a virtual work environment as states imposed regulations and lockdowns during the Pandemic of 2020. Now ...
Legal Technology Trends to Watch in 2021
Legal Technology Trends to Watch in 2021
What will it take to be a successful lawyer in 2021? With the world becoming increasingly digital in response to the COVID-19 pandemic-and ...
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What will it take to be a successful lawyer in 2021? With the world becoming increasingly digital in response to the COVID-19 pandemic-and with that change expected to continue even after a vaccine is distributed-it's now more crucial than ever to stay up to date with legal technology trends.
To find the most useful legal tech trends that lawyers need to know, we reached out to top industry technologists, lawyers, legal professionals, and consultants. We asked them this question: "What will be the most important legal technology trend for lawyers and legal professionals to follow in 2021?" Read their answers below to set your law firm up for success in 2021 and beyond.Click here to view the article
Legal Technology Trends to Watch in 2021
Professional Services Trends
What will it take to be a successful lawyer in 2021? With the world becoming increasingly digital in response to the COVID-19 pandemic-and with that ...
THE FUTURE OF FINANCIAL CLOSE IS HERE: 2021...
THE FUTURE OF FINANCIAL CLOSE IS HERE: 2021...
There are some people that think that COVID-19 changed the accounting world forever. In reality, it's not so much that it changed the way ...
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There are some people that think that COVID-19 changed the accounting world forever. In reality, it's not so much that it changed the way we do things.
We still balance the books, reconcile transactions and put a lot of effort into our month-end close. It did, however, thrust us into the future, pushing us further along the path we were already on.
We're a few years ahead of schedule so instead of predictions for 2025, here are the upcoming accounting trends for 2021:Click here to view the article
THE FUTURE OF FINANCIAL CLOSE IS HERE: 2021 ACCOUNTING TRENDS
Professional Services Trends
There are some people that think that COVID-19 changed the accounting world forever. In reality, it's not so much that it changed the way we do ...
30+ Key Real Estate Statistics for 2021
30+ Key Real Estate Statistics for 2021
April 8, 2021 by Smiljanic Stasha
Report posted on PolicyAdvice.net homepage. Written by Smiljanic Stasha and last updated April 8, 2021. Billions of dollars are invested ...
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30+ Key Real Estate Statistics for 2021
Commercial Real Estate Trends
Report posted on PolicyAdvice.net homepage. Written by Smiljanic Stasha and last updated April 8, 2021. Billions of dollars are invested into real ...
State of the Restaurant Industry report measures...
State of the Restaurant Industry report measures...
January 25, 2021
Report published by Restaurant.org on January 25, 2021The National Restaurant Association's 2021 State of the Restaurant Industry report ...
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State of the Restaurant Industry report measures virus' impact on business
Restaurant Trends
Report published by Restaurant.org on January 25, 2021The National Restaurant Association's 2021 State of the Restaurant Industry report addresses ...
Advice for the 'New Restaurateurs' of a...
Advice for the 'New Restaurateurs' of a...
April 1, 2021 by Marlo Fogelman
Report authored by Marlo Fogelman. Published to QSR Magazine on April 1, 2021. Just as the dot-com bubble burst of the early 2000s ushered ...
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Advice for the 'New Restaurateurs' of a Post-Pandemic World
Restaurant Trends
Report authored by Marlo Fogelman. Published to QSR Magazine on April 1, 2021. Just as the dot-com bubble burst of the early 2000s ushered in more ...
What The Future Of Restaurants Will Look Like...
What The Future Of Restaurants Will Look Like...
April 12, 2021 by Garin Pirnia
HuffPost report posted on April 12, 2021 and written by Garin Pirnia.It's been a year since the coronavirus pandemic upended the U.S. ...
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What The Future Of Restaurants Will Look Like Post-Pandemic
Restaurant Trends
HuffPost report posted on April 12, 2021 and written by Garin Pirnia.It's been a year since the coronavirus pandemic upended the U.S. restaurant ...
6 restaurant trends that will shape 2021
6 restaurant trends that will shape 2021
Review from January 4, 2021 - Restaurant Dive
Article written by Restaurant Dive staff members, Emma Liem Beckett and Julie Littman. Published on January 4, 2021.Though 2020 has been a ...
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Article written by Restaurant Dive staff members, Emma Liem Beckett and Julie Littman. Published on January 4, 2021.Though 2020 has been a year of incredible disruption and instability, the trends that dominated the restaurant space were already in motion long before the pandemic struck. With no end in sight for widespread dining room restrictions or consumer wariness of traditional restaurant experiences, analysts expect these trends to further crystallize in 2021. Unsurprisingly, all of these movements are rooted in digital technology, reflecting diner demand for contactless and mobile-enabled restaurant engagement. "Digital technology is really what's going to drive value creation going forward," Lauren Silberman, senior analyst at Credit Suisse, said. "It's really the combination of consumer-facing technology with ... curbside, drive-thru, delivery, and also plays into the real estate and labor piece as well, because it's all interrelated. What you're seeing is this permeation of a holistic digital infrastructure."That value creation is crucial as the pandemic wanes on, especially for restaurants without deep pockets. "COVID is a liquidity event, in a sense," Bill Fahy, senior analyst at Moody's, said. "There's not a competitive response to what's happening. If you're a small business, you only have six weeks of liquidity. We're going to see a lot of them go bankrupt."Analysts predict some of these trends could help restaurants grow sales even in a tumultuous market environment. Curbside will become a powerful digital tool for restaurants without drive-thrus. Restaurants are increasingly interested in white label deals with third-party aggregators as a way to retain customer data while some are eyeing smaller locations and ghost kitchens to cater to off-premise demand. Even with these opportunities, restaurants will continue to juggle labor costs and rising minimum wage, which will only become more of a challenge. Learn more about the six trends predicted to define the restaurant world in 2021:Diners will seek out digitally integrated curbside channels as a faster, cheaper alternative to deliveryCurbside has proliferated because it is a relatively low-cost way for restaurants without drive-thrus to launch their own off-premise channel. It also offers a key benefit to diners and restaurants: unlike third-party delivery, it provides convenience at no extra cost per order. Curbside is a powerful option for restaurants that don't have drive-thrus, Silberman said. This is part of the reason fast casuals had higher digital mixes even going into the pandemic, she said. Generally, consumers are willing to pay $4 in delivery fees, Jean Chick, principal and U.S. restaurant & food service leader at Deloitte, said. Diners are also more interested in curbside pickup if the restaurant is within a 10-mile radius of the home because it could potentially be faster than having their food delivered, she said. The category is still much smaller than drive-thru, and analysts agree that it is unlikely to ever drive the same volumes as that channel - and especially not in 2021, because diners haven't fully acclimated to the experience yet. Customers are more familiar with queuing up in a drive-thru and ordering on the spot, Andrew Charles, a director at Cowen focused on the restaurant segment, said. Some diners may even see designated curbside parking spots, assume they are 15-minute parking spots and then order takeout inside the restaurant, he said. But as curbside becomes more widely adopted, there will be opportunity to make it a solid percentage of sales. For example, Target makes about 4% to 5% of its sales from curbside. The channel also comes with the added benefit of being a digital transaction, which tends to be 20% to 25% higher than an in-store purchase, Charles said. "You're going to have a much bigger focus on takeaway," Fahy said. But because COVID-19 has also accelerated consumer adoption of mobile apps and technology for reservations, menus, payments and tipping, diners will expect curbside to be digitally integrated as well. "We're seeing a huge investment in digital on the restaurant side for 2021 to enhance that customer experience, because if that is the only experience that they get, they want it to be a positive one because they can't control the third-party deliveries," Chick said. "If it's a curbside pickup, it's a very quick interaction [for] customer experience and so they want the digital experience to be far and above the best experience that customers have so they'll have a repeat customer."Chains will more easily adopt the curbside channel as a result of the technology investment required to make the channel as efficient and polished as possible, Charles said. Legacy brands like Dunkin' and Starbucks offer sophisticated technology that allows customers to click on their mobile device to alert the restaurant that they have arrived. Panera, for example, adopted geofencing technology during the early days of the pandemic. Chains can integrate curbside pickup with their loyalty programs as well, he said. Independent restaurants will likely have customers call to have their orders brought out to them since they may not have the budgets for similarly robust technology, Charles said. Curbside could also prove to be disruptive when it comes to competition between fast casual and QSR chains, though analysts are split on how much of a threat a fast casual with a digitally enabled curbside offering could pose to a restaurant with a drive-thru. Chick believes that curbside capabilities can "absolutely" help fast casuals challenge fast food rivals if the customer experience is digitized, whether through QR codes for menus or contactless payments, to compete with QSR convenience. "Customers want convenience, they want an enhanced digital experience, they want contactless payments," Chick said.But Silberman is skeptical because these segments attract different consumer types. And QSR investment in new double-drive thrus, personalization at the digital menu screen and other efficiencies will keep the channel a step ahead of curbside growth, Chick said. "QSRs have focused on getting their drive-thru times down. ... If that happens, your curbside pickup is not going to be growing at the same rate that it has in 2020 because if you're going to drive to the restaurant anyway, you might as well just go through the drive-thru," Chick said. Despite high unemployment, labor costs will rise amid wage hikes and changing labor poolsLabor and rising minimum wage costs will be a challenge for restaurants in 2021. Before the pandemic, labor inflation was 3% to 5% per year, Fahy said. Florida recently approved a $15 minimum wage, and Chick thinks the restaurant industry will be looking to see how Florida restaurants react and how they manage those new labor costs. In late 2020, Starbucks committed to providing at least $15 an hour within three years, further illustrating the momentum to increase wages. But a $15 minimum wage wouldn't necessarily work in all states, especially ones like Alabama where the cost of living is much lower than places like New York and California, where wages have been going up, Fahy said. A lot of QSRs are still struggling to staff their restaurants as well, Chick said. Historically, restaurants would draw from a labor pool made up of high school and college students, and that has dried up over the years. So restaurants are struggling to adapt to that labor drought and this will be even more challenging if a $15 minimum wage comes to other states. Restaurants are also having to pay more for personal protective equipment, health insurance and wages that would retain good employees, Fahy said. Chains will shift their focus from urban markets to suburbs and seek smaller footprintsWith over 110,000 restaurants closed, real estate site selection and leases will experience changes in 2021. The restaurant industry will also continue to see new prototype expansion as restaurants try to optimize their portfolios after closing underperforming locations during the pandemic, Silberman said. Taco Bell, McDonald's, Arby's, Del Taco and Burger King have all said they are looking into restaurants with smaller dining rooms and larger drive-thrus. Pre-pandemic, rent was 95% fixed with a 5% variable cost, but landlords are more willing to increase the variable percentage based on revenue, which has been limited with dining room closures, Fahy said. Landlords have also been favorable to deferrals, but not necessarily abatements. This means rent that might not have been paid from April to June is just tacked onto the end of a lease with the addition of three months, for example, or spread the costs over time, Fahy said. Some landlords may be incentivized to keep current tenants instead of trying to fill an empty space during a down economy, Fahy said. But experience overall will depend on how many properties a landlord owns. Landlords are less likely to be accommodating if they own one or two properties and this is their only source of income, Fahy said. At the same time, restaurants that are looking into new locations are shifting their appetites. Chick believes there will be a decrease in demand for restaurant real estate overall, especially in urban areas around offices. Chick predicts those workplaces won't ever return to 100% capacity after the pandemic, and hybrid work models that offer virtual work will hurt foot traffic. "We're seeing almost all of our restaurant clients look at different real estate footprints for any new location ... and whether they'll have any dine-in or whether it will be only takeout and delivery or it will be a very small, limited dine-in experience," Chick said. "We're seeing that cross QSR and fast casual, not as much in fine dining because fine dining is a [premium] experience."While many chains and restaurants have generally slowed down building new sites, access to Class-A sites will likely get easier, especially for bigger brands, Fahy said, because restaurants in prime locations are going out of business. Many casual chains are looking for better sites, many of which weren't available until now. Brands are now focusing on suburbs and lifestyle centers, Fahy said. Third-party partnerships are here to stay, but white label deals will rise amid fight for diner dataPrior to the pandemic, delivery only made up around 8% of sales for the industry, so there is plenty of opportunity to grow this channel on the other side of COVID-19, Charles said. "We're going to enter 2021 with dire restrictions," Charles said. "So delivery is going to be a critical component in a quarantining world."Free delivery promotions will likely continue to be a tool to market these offerings, especially since sales tend to be higher even after the promotion ends as awareness grows and people stick to the behavior of ordering delivery, Charles said. "The question that ultimately comes into what we're looking at in 2021 and 2022 is about the stickiness of the consumer because you are seeing delivery menu prices inflate," Silberman said. In many places, delivery and service fees are increasing, brought on by restaurants and third-party companies, Silberman said. But for QSRs and many public restaurants that appeal to customers' desire for value, delivery can undermine that offering because of the extra fees, Silberman said.The number of restaurants that have traditionally done their own delivery, with some like Jimmy John's vowing to never team with a third-party platform, now partnering with aggregators also reflects the growing power of this segment, Silberman said. Self-delivery is expensive and operationally taxing, and it makes sense for a restaurant to outsource that part of their business, she said. But restaurants will still want to keep control of the brand experience and of consumer data, so she predicts that 2021 will see an increase in white label partnerships where customers journey through the restaurant's website to access delivery. Using that data can provide restaurants the means to better incentivize customers to keep coming back, which has been a challenge for many restaurants since they don't necessarily have the infrastructure in place to do that, Silberman said. "How will these restaurant companies get a delivery transaction and try to ultimately convert that to a more creative pickup transaction or otherwise? Maybe that's not 2021, maybe that's 2022, but I certainly think that that's going to be an important part of the story and to do that they really need to integrate delivery in their apps in order to get the customer information," Silberman said.White label relationships offer the best of both worlds, Silberman said, allowing restaurants to retain customer data while outsourcing delivery. Shake Shack began testing app-based delivery late in 2020 at three locations in the Miami area. "So that's the first step and then the second step of that is, okay we now have a digital customer, how do we then decide where that customer actually ... makes the transaction," Silberman said.Virtual brands will benefit chains that have the bandwidth to balance brandsBased on the success companies like Brinker International - which expects It's Just Wings to generate $150 million in annual sales - have seen from their virtual brand concepts, Silberman predicts that major chains will continue to experiment with online-only offerings. While there will be more virtual brands popping up over the next year, the biggest challenge for restaurants will be making both a virtual brand and a regular restaurant co-exist, Charles said. This will be especially true five years from now, when the market recovers to pre-COVID-19 volumes, Charles said. Restaurants are already reaping the benefits of increased sales from adding virtual brands, so they won't likely want to remove that channel when dining rooms go back to full capacity, he said. But restaurants will have to balance maintaining a high level of customer service expected from dine-in guests with their virtual brand, Charles said. That could mean that restaurants will have to increase labor in the back of the kitchen when dine-in business picks back up. "If you're juggling balls, you can juggle two balls pretty easily," Charles said. "By the time you get to four and five balls, you're going to need another hand to help you do that."Ghost kitchens will benefit brands that are mature enough to have robust delivery channelsGhost kitchens have become an increasingly popular model for chains to expand their footprints and offer new menus without investing in more brick-and-mortar real estate. These concepts also require less labor than a traditional restaurant, often requiring only two to three employees, Charles said. Benefits like this will continue to drive restaurants big and small to the channel in 2021 as operators look to grow their digital sales and reach new customers online, and the trend will likely take hold in cities. "The explosion of ghost kitchens in more urban areas [is] going to happen first and then potentially spread out to the lower-cost real estate areas that are more suburban and more rural," Chick said. "Ghost kitchens really kind of generated their first concepts in the San Francisco area because the real estate cost is so high."There is some concern over how consumers will react to a spike in restaurant brands that only exist online or via third-party delivery marketplaces, Chick said. "The business model is there, it's just a question of whether or not the consumer will accept it. ... For a new brand ... something that's not as well-established that just opened a ghost kitchen and has not created a digital presence or [digital customer base] and is trying to do that in a ghost kitchen, I think it will be harder," she said. Restaurants that already have robust delivery sales and a strong digital presence will perform well at ghost kitchen outposts, Silberman said, but it would be a challenging environment for an independent or a chain that isn't digitally savvy to put down roots and grow. It's unlikely that ghost kitchens will "take over the entire restaurant industry in 2021," Chick said, but she expects to see strong growth in the market based on 2020 investment in the space and diner demand for delivery and digital accessibility.
6 restaurant trends that will shape 2021
Restaurant Trends
Article written by Restaurant Dive staff members, Emma Liem Beckett and Julie Littman. Published on January 4, 2021.Though 2020 has been a year of ...
Future stores: Emerging tech and trends will...
Future stores: Emerging tech and trends will...
Article posted in The-Future-of-Commerce.com on December 16, 2021
From the article: Future stores: Emerging tech and trends will change how we shop Future stores: Emerging tech and trends will change how ...
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From the article: Future stores: Emerging tech and trends will change how we shop
Future stores: Emerging tech and trends will change how we shop
The idea of customer purchases being limited to brick-and-mortar stores faded long ago.
Digital technologies, such as the Internet and mobile devices, and evolving shopping channels have made it difficult to distinguish what is and is not a "store." While the role of the traditional store is evolving, it is likely that brick-and-mortar will remain a significant channel of retail commerce in the future.
The customers' desire to shop anytime anywhere is not only impacting retail adoption of various technologies, but also forcing retailers to adopt new store formats. Stores afford customers sensory advantages, the ability to try out products, and immediate gratification. Stores also can provide an enriching entertainment and social experience. Finally, retail associates can provide meaningful personalized service. On the other hand, pure digital shopping channels are viewed as providing immediate access to more information than may be found inside a store.
We envision that, in the future, a specific retailer may adopt various formats, while ensuring a level of brand cohesiveness across these formats.
Future Retail Formats
Some stores will serve purely as drive-through pick-up locations, as some shoppers will move away from large stock-up shopping trips to more targeted, time-efficient, needs-based trips.
Other stores will serve as product showrooms that enable the customer to interact with or try out products, as well as interact with sales associates and other customers (both physically and remotely).
Some stores will serve as immersive experiential centers, as technology will enable shoppers to control their shopping experience. These stores will be venues for collaboration and experiences that cannot be provided online.
Brand stores will be created that focus more on promoting the brand than on selling merchandise. The purpose of these stores will be to communicate the brand's values, social and community involvement, to convey customer stories, as well as to provide product/service information and ordering.
Stores that offer community services as well as retail will provide services that local communities can no longer afford, and locate stores within or near those spaces. For example, a retailer that also integrates digital technology and physical merchandise into the space may operate the local library.
Small, specialty stores will continue to fill certain niches, as well as evolve. For example, the corner butcher will continue to serve a vital function for customers desiring a high level of service and unique products not available at a chain supermarket.
Finally, not all of today's store formats will go the way of the dinosaur, as certain customer segments will prefer to shop at more traditional stores. Yet these store formats will continue to advance, incorporating newer technologies or appealing to specific customer segments.
Within these various formats, emerging technologies that customers will interface with also will continue to mature, including: advanced mobile device use with store and product interface; Big Data applications; mobile and integrated POS; cashless payment (mobile wallet); digital assistants; etc.
Customer Interface Technology
Perhaps the most pervasive advances envisioned are related to an in-depth understanding of individual customers and their product/service desires. Customer insights, collaboration, and choice will be major trends.
While each retail vertical and format will evolve differently, the following are some general abstractions regarding how retailers will interface with their customers:
Customer access to information will be unlimited.Big Data will provide retailers with unlimited amounts of information about customers.Certain classes of merchandise will become less standardized and more customized to fit a specific customer's desires.The concept of pricing will change as retailers respond to supply and demand factors as well as customer-desired customization.Products themselves will directly communicate with the customer, as merchandise on the shelf will be more interactive with the shopper.The Internet of Things will lead retailers to connect the dots and use this information for the benefit of the customer.Technologies that allow specific customers to be identified will be adopted and used actively.
Read more about this topic in the Platt Retail Institute Research Article, "The Future of Retail: A Perspective on Emerging Technology and Store Formats."
Margot Myers is Director, Global Marketing and Communications, at Platt Retail Institute, an international consulting and research firm that focuses on the use of technology to impact the customer experience. She manages strategic marketing and communications programs and serves as the managing editor for PRI's publications and website.
Future stores: Emerging tech and trends will change how we shop
Retail Trends
From the article: Future stores: Emerging tech and trends will change how we shop Future stores: Emerging tech and trends will change how we shop The ...
14 examples of digital technology in retail stores
14 examples of digital technology in retail stores
Article posted in Econsultancy.com on March 4, 2021
From the article: 14 examples of digital technology in retail stores 14 examples of digital technology in retail stores After the shock of ...
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14 examples of digital technology in retail stores
Retail Trends
From the article: 14 examples of digital technology in retail stores 14 examples of digital technology in retail stores After the shock of the ...
Retail technology: The path forward
Retail technology: The path forward
Article posted in Retailcustomerexperience.com on February 15 , 2021
From the article: Retail technology: The path forward Retail technology: The path forward Andre Hordagoda, co founder of Go Instore, shares ...
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Retail technology: The path forward
Retail Trends
From the article: Retail technology: The path forward Retail technology: The path forward Andre Hordagoda, co founder of Go Instore, shares insight ...
Tech Trends for 2021: The Future of Retail
Tech Trends for 2021: The Future of Retail
Article posted in Mytotalretail.com on March 8, 2021
From the article: Tech Trends for 2021: The Future of Retail Tech Trends for 2021: The Future of Retail Credit: LightspeedWhile we've ...
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Tech Trends for 2021: The Future of Retail
Retail Trends
From the article: Tech Trends for 2021: The Future of Retail Tech Trends for 2021: The Future of Retail Credit: LightspeedWhile we've entered a new ...
7 Retail Technology Trends to Watch in 2021
7 Retail Technology Trends to Watch in 2021
Article posted in Risnews.com on March 8, 2021
From the article: 7 Retail Technology Trends to Watch in 2021 7 Retail Technology Trends to Watch in 2021Justin HonamanJustin Honaman is a ...
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From the article: 7 Retail Technology Trends to Watch in 2021
7 Retail Technology Trends to Watch in 2021Justin HonamanJustin Honaman is a member of the RIS/CGT executive council.At the start of 2020, as I put pen to paper for my 7th annual "Retail Trends to Watch," I wrote:"...the overall consumer 'vibe' is positive - in fact, very positive. The consumer feels good. The consumer is eating out. Shopping. Traveling. Investing. Smiling. Spending. Unemployment is low. Inflation is low. Trade agreements with China (and others) seem to be heading in a positive direction. The stock market is up (way up). There are many jobs - new and different kinds of jobs - in the market. Exciting, and yet makes me wary given the last time it all felt 'this good.'"Then, we were all asked to "work from home for two weeks."And, of course, the rest of 2020 played out amidst a global pandemic. "Vision 2020" will be unforgettable for reasons no one ever expected.The coronavirus outbreak caused most retailers to temporarily shutter, keeping shoppers away, and forcing retailers to negotiate with landlords and suppliers to tackle unplanned inventory and liquidity issues. On top of that, the forces that pushed dozens of retailers into bankruptcy over the last several years remained present. We all have seen the shutdown and reopen charts and trends so no need to rehash. And, while many said they "couldn't wait to say goodbye to 2020," there are some that had a good, and even a great, year.Looking ahead, we'll call this Vision 2021. For those that survive and thrive, technology will be at the heart of all parts of the business. Not that technology wasn't a priority in the past, but with the tensions fueled in 2020, technology investments will be a must for every retailer that didn't already accelerate investments during the pandemic - from supply chain, e-commerce and store operations, to merchandising, marketing and shopper engagement. Last year, I defined two types of priorities, timely and timeless. Timely includes today's priorities given reopening priorities, shifts in consumer preferences, technology available now, and technology efforts that "must" be accelerated to give the business a chance to grow. Timeless are new ways of working that, once implemented, become part of the ongoing fabric of running the operation: new solutions that modernize how we do business and enable long-term value creation, new multi-year organizational staffing models, mergers and acquisitions.With this mental model in mind, let's review the retail tech trends to watch in 2021.SUPPLY CHAIN & FULFILLMENTRE-THINKTimeless. Seventy-one percent of retailers name "lack of real-time inventory visibility" as a top supply chain obstacle that reduces efficiency and productivity. For a retailer to be truly effective and successful, they must have a clear and accurate understanding of inventory. What product do they have on hand and where is it located in the supply chain (warehouse, retail outlets, in-transit, manufacturer)? And, most importantly, is this information accurately reflected in the inventory management system?The shutdown and re-openings of 2020 exacerbated already faulty supply chain systems and processes for many retailers. Some turned stores into micro-fulfillment centers for e-commerce orders, leaving the shelves bare. Many stores had limited to zero visibility to available SKUs and locations during reopening. Overseas manufacturers shut down and reopened while the seasons changed, leaving gaps in inventory. In addition, inventory for Winter went unsold during lockdown, allowing no time for clearance. With Spring and Summer fast approaching, many retailers were impacted by supply chain issues with limited available inventory during reopening. To top it off, many retailers traditionally place holiday orders during this same period of time. Inaccurate inventory counts led to consumer frustration after orders were accepted, not filled, and ultimately refunded or canceled. When a retailer doesn't have a product, has the wrong product, or even worse, doesn't know if they have a product, they can't sell it - and their shopper will go elsewhere to find it.Another area that accelerated in 2020 and will continue in 2021 is the delivery experience, including the expectation of free shipping, same-day delivery, and hassle-free returns. Consumers are increasingly looking for fast and free delivery - and, increasingly, that means same day. And, they don't want to deal with issues when not having a receipt, disputes over shipping costs, or the retailer having to "mail" a store credit vs email or stored value card in store. While same-day delivery is far from a new concept, expect retailers to find ways to make it work via fulfillment technology and new route to market options.Bottom Line: Retailers will invest in the back and front office as related to supply chain, inventory management, distribution, track/trace, and delivery/fulfillment.SOCIAL COMMERCETimely. Facebook and Instagram accelerated the deployment of social media platform shop capabilities in 2020 as shopping shifted more significantly online. Shops are custom storefronts for businesses on Instagram and Facebook and allow social media users to easily buy products they see in social ads. Retailers and brands can build virtual shelves of products, run sales, and link ads on both platforms to their e-commerce site. With shops, Facebook is catering more directly to brands, and brands are shifting marketing spend away from traditional outlets such as TV, radio, and billboard to meet their shoppers where they are spending a significant amount of time each day.This is similar to brands selling their products on other e-commerce platforms and marketplaces. Facebook and Instagram are creating a closed loop environment for the retail brand (or agency), enabling shopper insights, customized ad campaign elements, and targeted product placement in end-user feeds. Facebook and Instagram users can customize what content they see, and retailers can target their content to shoppers that have previously converted.The business operations challenge that retailers face is how to integrate this data with their store and e-commerce data, as well as data from other third-party platforms. This is a back-office data challenge to be addressed in 2021! More on this below.BOTTOM LINE: Social shops (and ad platforms) are an opportunity to engage with shoppers, build relationships, and drive sales.DATA & ANALYTICSTimeless. Data and analytics are still hot and more important than ever, not only in the supply chain and demand forecasting space, but also in using customer insights to predict behavior. A good friend of mine leads retail analytics for one of the top global luxury retailers with locations in most major metropolitan cities around the world. As she shared with me last week, "Our executives are eager to know volume, store performance, and shopper trends in locations that are open. I am having to pull together data from multiple back-end operational systems because our North America data is separate from multiple other global back-end operational systems. And we are still largely on-premise vs. cloud. I then have to use BI tools to do light analytics and drop data into Excel and Access to run analytics, etc." This is a retailer that is doing well financially, but has not yet invested in back-office analytics modernization. My friend's scenario may sound familiar, as not every retailer has invested in analytics platforms and integrated data capabilities or has chosen to make it a priority. But analytics is becoming part of the fabric of the retail organization and this skill set will be part of every team - not its own disparate team in IT. For retailers with scale, a centralized data analytics team could be useful in fueling traditional BI, AI/ML, automation, and advanced analytics methods in the business.What about IoT in stores or warehouses? Or even in-transit? Many IoT solutions rely on centralized, platform-based solutions to collect, store, and analyze sensor data from devices. Platform solutions built in the cloud require reliable, low-latency, high-bandwidth network connectivity and this is a challenge for businesses with assets in geographic locations that lack strong, reliable network connectivity. This is a bigger challenge when large data volumes must also be shared across the network. For edge analytics, a central cloud-based platform is critical to manage and develop the analytics applications and models based on populations of devices, which when deployed at the edge, are customized for the specific instance and scenario. Edge analytics allows for the ability to run a variety of machine learning, predictive and prescriptive models that require a more powerful compute environment. Many retailers are working through modernization efforts - migrating workloads to the cloud - and as such, edge analytics is a near-term real opportunity.Bottom Line: Expect analytics platforms, tool, and people upgrades as retailers look to play catch-up in more effectively using data that they have been only collecting and storing. Expect workloads to shift more quickly to the cloud vs. on-premises.CUSTOMER 360Timely. Having a full picture of the customer, or creating a shopper "golden record," enables retailers to more effectively market relevant products and services, personalize communications and rewards, and offer customized deals and benefits to build loyalty. While this has been a hot topic for a number of years, the challenge in bringing it to life is tracking a shopper throughout the entire customer journey - when they are navigating -ecommerce sites, shopping your site, walking your store, chatting with your virtual agent, etc.What has changed and evolved are the varying types of consumer/shopper data available to retailers to consume, harmonize, and use. No longer is it just syndicated data houses offering consumer insights, but now major ecommerce and social platforms are serving up shopper data that retailers can use to plan campaigns and ad spend, drive new customer growth, and plan for conversion across channels.I'm still surprised that, despite shopping at several retailers regularly, being part of their loyalty programs, shopping online and in store for several years, and registering for their credit card, many retailers do not market personally, intentionally, and directly to me. I receive the standard "twice-yearly sale" offers and "always on sale coupon codes" and I am never recognized, rewarded, or recognized in store. Even further, consider the grocery and drug category, where several of the major players have loyalty cards with troves of shopper data, presenting a huge opportunity to personalize the customer experience and improve the relationship.Bottom Line: While the phrase "customer 360" has been in the market for years, new definitions and ways of building a customer profile are evolving as data sources and cloud-based integrated data platforms evolve. Expect retailers to continue to test and learn.STORES FOR THE DIGITAL NATIVESTimely. Take a quick drive and check out your local legacy, monolithic mall or even the new outdoor walking entertainment communities (live, work, play) and you'll notice the many empty storefronts. In the near-term, this is an opportunity for digitally native, direct-to-consumer retailers like Warby Parker, Bombas, Glossier, and Bonobos to take advantage of lower rents and engage in store with their traditionally digital shoppers. Going into the pandemic, real estate experts predicted 1,000-plus stores would be opened by digitally native brands in twelve months.In 2021, look for retailers to take advantage of lower rents to engage in store with their traditionally digital shoppers.Bottom Line: Digitally native brands have a unique opportunity to test physical stores in 2021 with plentiful and prime commercial real estate options available globally.CORE MODERNIZATION AND SECURITYTimeless. As retail organizations shift workloads from on-premises to the cloud, security of data, applications, and other elements managed by the retailer will continue to be a priority and in focus. The rapid expansion of emerging technologies that enable new capabilities and provide on-demand services adds to the security risks that threaten retailers' businesses. Rapid business expansion can mean retail organizations struggle to identify who has responsibility for an individual process when it is threatened.As attack surfaces continue to widen across systems, devices, people, partners and infrastructure, it's evident that embracing technology as a key driver of growth can amplify opportunities for complex cyber-attacks. As the industry has seen over the last two-three years, retail business and security leaders are increasingly focused on interlocking security strategy and cyber defense capabilities to strengthen business resilience and brand trust that are essential in today's retail environment. Retailers must establish comprehensive threat protection that takes into account customers, employees, contractors, partners, applications and systems. Think beyond the perimeter firewall to secure cloud, mobile, and IoT operations and data wherever it resides. And, keep in mind that while the cloud providers secure the cloud, it is up to the retailer to secure data and applications in the cloud.Bottom Line: To enable all of the above and more, modernizing the core, pursuing a journey to cloud, and deploying resilient security protocols will be a priority in 2021.CLOSET RESUPPLYTimely. With reopening comes the return to the office. Return to meetings. Return to the airport and travel. Return to conferences. Return to new ways of working together in new venues. Return to gatherings. Return to parties and social events. The list goes on. While we may not need a closet full of new clothes, this presents an opportunity for retailers looking to ensure their shoppers "look great" in returning to work and play. Most of us haven't worn our business and play attire in nearly a year and will be excited to shop for a new wardrobe and work essentials. Watch for retailers to jump into this unique, timely marketing and sales opportunity as the COVID-19 trend lines improve.Bottom Line: Shoppers will be eager to renew and restock as the economy opens up - especially when retailers "visioncast" (aka train) shoppers that it's time to reopen the wardrobe for business and get out of the yoga pants and golf shirts.BUZZWORD BINGO FOR 2021Each year, I highlight the "hot" buzzwords across the technology and consulting-vendor-partner-sphere. This year's highlights are: digital transformation, digital core, modernization, AI and Machine Learning, cloud migration, chatbots, Intelligent Automation/RPA, microservices, customer 360, control tower, agile, store of the future, and scaling.And, for the work-from-home crowd, I bring you these buzzwords and phrases that made their way into Buzzword Bingo in 2020/2021: "Can you see my screen?" "My Wi-Fi is not working ... weak signal b/c my spouse is working and my kids are doing online school," "Every week is four Mondays and a Friday," "I think you are on mute," "Sorry, I was on mute," "Sorry, my dogs are barking," "Let's give everyone a few minutes to join," "Your screen froze," and of course, "Smile everyone so I can grab a screen shot for social media!"Bingo.
7 Retail Technology Trends to Watch in 2021
Retail Trends
From the article: 7 Retail Technology Trends to Watch in 2021 7 Retail Technology Trends to Watch in 2021Justin HonamanJustin Honaman is a member of ...
15 Mistakes Instructors Have Made Teaching with...
15 Mistakes Instructors Have Made Teaching with...
Article from campustechnology.com published on April 5, 2021
15 Mistakes Instructors Have Made Teaching with Technology in the Pandemic From the article published in: 15 Mistakes Instructors Have Made ...
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15 Mistakes Instructors Have Made Teaching with Technology in the Pandemic
School and College Trends
15 Mistakes Instructors Have Made Teaching with Technology in the Pandemic From the article published in: 15 Mistakes Instructors Have Made Teaching ...
Hybrid Helpers: School Districts Successfully...
Hybrid Helpers: School Districts Successfully...
Article from edtechmagazine.com published on March 24, 2021
From the article published in: Hybrid Helpers: School Districts Successfully Navigate the New Normal Hybrid Helpers: School Districts ...
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Hybrid Helpers: School Districts Successfully Navigate the New Normal
School and College Trends
From the article published in: Hybrid Helpers: School Districts Successfully Navigate the New Normal Hybrid Helpers: School Districts Successfully ...
4 Ways Institutions Can Meet Students'...
4 Ways Institutions Can Meet Students'...
Article from campustechology.com published on April 5, 2021
From the article published in : 4 Ways Institutions Can Meet Students' Connectivity and Technology Needs 4 Ways Institutions Can Meet ...
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4 Ways Institutions Can Meet Students' Connectivity and Technology Needs
School and College Trends
From the article published in : 4 Ways Institutions Can Meet Students' Connectivity and Technology Needs 4 Ways Institutions Can Meet Students' ...
Why Cloud Infrastructure Matters to K-12
Why Cloud Infrastructure Matters to K-12
Article from edtechmagazine.com published on February 17, 2021
From the article published in: Why Cloud Infrastructure Matters to K-12 Why Cloud Infrastructure Matters to K-12 Infrastructure as a ...
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Why Cloud Infrastructure Matters to K-12
School and College Trends
From the article published in: Why Cloud Infrastructure Matters to K-12 Why Cloud Infrastructure Matters to K-12 Infrastructure as a Service is a ...
8 Higher Education IT Trends to Watch in 2021
8 Higher Education IT Trends to Watch in 2021
Article from edtechmagazine.com published on February 01, 2021
From the article published in 8 Higher Education IT Trends to Watch in 2021 8 Higher Education IT Trends to Watch in 2021 Technology is ...
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8 Higher Education IT Trends to Watch in 2021
School and College Trends
From the article published in 8 Higher Education IT Trends to Watch in 2021 8 Higher Education IT Trends to Watch in 2021 Technology is shaping the ...
School Support During The Pandemic With The Help...
School Support During The Pandemic With The Help...
Article from elearningindustry.com published on April 4, 2021
From the article published in: School Support During The Pandemic With The Help Of EdTech In the pandemic world, it is highly important to ...
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School Support During The Pandemic With The Help Of EdTech
School and College Trends
From the article published in: School Support During The Pandemic With The Help Of EdTech In the pandemic world, it is highly important to do ...
Speeding Towards Transformation: 2021 Trends In...
Speeding Towards Transformation: 2021 Trends In...
We are approaching the end of 2020, a year unlike any other in the history of finance and accounting. The Covid-19 pandemic and its ...
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jplist-topic-finance jplist-topic-accounting jplist-topic-trends jplist-topic-2021
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Speeding Towards Transformation: 2021 Trends In Finance And Accounting
Professional Services Trends
We are approaching the end of 2020, a year unlike any other in the history of finance and accounting. The Covid-19 pandemic and its economic, social ...
Predictions For The Accounting Industry For 2021...
Predictions For The Accounting Industry For 2021...
There's not a single industry that hasn't experienced dramatic change in 2020, and that very much includes accounting. We count thousands ...
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jplist-topic-accounting jplist-topic-trends jplist-topic-2021
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There's not a single industry that hasn't experienced dramatic change in 2020, and that very much includes accounting. We count thousands of accounting practices as clients, and thus have had a front-row seat to these changes. Based on what we've seen and heard from our clients, these are the most important trends the accounting industry will experience in 2021.
Clients will increasingly expect accounting and tax professionals to become 'holistic advisers' rather than simply being transactional accountants.Click here to view the article
Predictions For The Accounting Industry For 2021 And Beyond
Professional Services Trends
There's not a single industry that hasn't experienced dramatic change in 2020, and that very much includes accounting. We count thousands of ...
2021 professional services trends
2021 professional services trends
Lori Rubin, Partner at Odgers Interim US, discusses the five key trends expected to play out in the professional services space in 2021 ...
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Lori Rubin, Partner at Odgers Interim US, discusses the five key trends expected to play out in the professional services space in 2021
Last year was a momentous year globally. Although the disruption faced was a great challenge for many, it has propelled professional service firms forward and driven great change in the sector - far beyond what was ever expected in the space of just a few months. Over the course of the next 12 months, we will continue to see the sector reshape and take on a new lease of life, focused on the areas of growth highlighted by the pandemic crisis and driven by technology.
Here is a review of the expected trends and forces set to shape the professional services industry in 2021: Click here to view the article
2021 professional services trends
Professional Services Trends
Lori Rubin, Partner at Odgers Interim US, discusses the five key trends expected to play out in the professional services space in 2021 Last year ...
What will be the Legal Tech Trends of 2021 (and...
What will be the Legal Tech Trends of 2021 (and...
As our CEO recently stated in an op-ed in Forbes, the future looks bright for the legal tech industry. After two record-years for legal ...
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jplist-topic-legal jplist-topic-tech jplist-topic-trends jplist-topic-2021
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As our CEO recently stated in an op-ed in Forbes, the future looks bright for the legal tech industry. After two record-years for legal tech investments, 2020 dropped a bit in total but ended well. With new vaccines on the market and an economic boost expected just around the corner, 2021 is set to be another record year.Because what 2020 lacked in investments (which wasn't a lot), it definitely had in legal tech adoption. As we have also described elsewhere, the pandemic has forced a digital transformation across all industries, and the legal industry was no exception. Legal tech seems to have reached the slope of enlightenment on Gartner's hype cycle. There is less focus on over-hyped technologies such as robot lawyers, blockchain-enabled smart contracts and fancy AI-tools that never really works.Click here to view the article
What will be the Legal Tech Trends of 2021 (and what will definitely not!)
Professional Services Trends
As our CEO recently stated in an op-ed in Forbes, the future looks bright for the legal tech industry. After two record-years for legal tech ...
Four BIG Professional Services Trends to Look Out...
Four BIG Professional Services Trends to Look Out...
A lot has changed for businesses in the last year. The same is true of professional services organizations that were already reeling in the ...
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jplist-topic-professional jplist-topic-services jplist-topic-trends jplist-topic-2021 jplist-topic-it jplist-topic-engineering jplist-topic-consulting jplist-topic-media jplist-topic-marketing
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Four BIG Professional Services Trends to Look Out for in 2021
Professional Services Trends
A lot has changed for businesses in the last year. The same is true of professional services organizations that were already reeling in the tech and ...
3 Trends Impacting Revenue Growth at Professional...
3 Trends Impacting Revenue Growth at Professional...
Biz dev took a hit earlier this year, but these firms learned to adapt and ...
When 7Summits, a firm that helps customers digitally transform their business using Salesforce, tried to land a substantial deal with a ...
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jplist-topic-revenue jplist-topic-growth jplist-topic-professional-services
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When 7Summits, a firm that helps customers digitally transform their business using Salesforce, tried to land a substantial deal with a global media conglomerate, they didn't hop on a plane to wine and dine decision makers as many professional services firms have done in the past.
Instead, they turned to their existing private Salesforce community known within the company as The Peak.
"These potential clients opened up the content right away and started posting questions about our proposal on The Peak," said Paul Stillmank, CEO of 7Summits. "That virtual collaboration automatically provided data and insights that aren't available in more traditional media and in-person meetings."
For example, Stillmank could see who downloaded a document and posted questions on a forum attached to that document. Those actions signaled an engaged buyer, which informed how they prioritized their next steps and further customized the proposal.
7Summits was ahead of the curve with its virtual business development, but since the pandemic hit in March, other firms have pivoted in this direction. Seventy-eight percent of those working in business development at professional services firms say they've had to adapt quickly to new ways of selling, according to data from the recent State of Sales research, which surveyed nearly 6,000 sales and business development professionals worldwide.
That finding was among several major trends transforming business development in the professional services industry uncovered in the research.Click here to view the article
3 Trends Impacting Revenue Growth at Professional Services Firms
Professional Services Trends
When 7Summits, a firm that helps customers digitally transform their business using Salesforce, tried to land a substantial deal with a global media ...
The Future of the Professional Services Industry
The Future of the Professional Services Industry
An Age of Disruption
The traditional professional services industry will likely be radically different in ten years. Changing clients' demands, employee ...
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The traditional professional services industry will likely be radically different in ten years. Changing clients' demands, employee expectations, rapid technology developments, and other external factors will change the nature of jobs and skills required in the future. Ultimately, these factors, with technology in the lead, may even challenge the very nature of the "practical expertise" that professionals deliver.Click here to view the article
The Future of the Professional Services Industry
Professional Services Trends
The traditional professional services industry will likely be radically different in ten years. Changing clients' demands, employee expectations, ...
Office real estate back to normal, in 2025
Office real estate back to normal, in 2025
Published to CNBC.com on September 20, 2020
The article, "Office real estate back to normal, in 2025," is published by CNBC and authored by Korey Matthews.The coronavirus remote work ...
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The article, "Office real estate back to normal, in 2025," is published by CNBC and authored by Korey Matthews.The coronavirus remote work experiment will become a permanent trend, but at some point, employees will return to the office in numbers that match the past. When? It could take five years, according to a new forecast from Cushman & Wakefield.Global office vacancies will not return to their pre-Covid peak levels until 2025 and, in all, a net 215 million square feet of office vacancy will have been lost due to the pandemic, according to the outlook from one of the largest real estate services firms in the world. Between Q2 2020, when Covid-19 hit the U.S., and Q3 2021, the net negative office square feet damage will reach 95 million square feet, roughly 10 million square feet more than the financial crisis trough. The situation will be the worst in the West. During the financial crisis, Canada, Europe and the U.S. recorded a combined loss of 120.5 million of square feet occupancy from peak-to-trough. Including Q2 2020, that will reach over 200 million square feet of "negative absorption" peak-to-trough in the Covid recession, according to Cushman & Wakefield's analysis.
Work from home is 'very real'
"We know this work from home trend is very real," Kevin Thorpe, the firm's chief economist, recently told CNBC.For the study, Cushman & Wakefield surveyed some of largest companies around the world about the future of the office, and attempted to measure both the cyclical impacts of the Covid recession and structural impacts assuming a higher increase in work from home. Thorpe said two key findings emerged. First, office leasing fundamentals will be significantly impacted and vacancies reach an all-time high. But the second find is more encouraging: the office real estate market will fully recover, according to Cushman & Wakefield, largely due to employment growth and the ongoing shift in the U.S. economy's concentration in certain types of professional jobs.
Synchrony is among the major U.S. corporations moving away from traditional offices to a "hub" model that will enable employees to work from home when they want (or full time) and visit a hub - e.g. a co-working space, Synchrony office, university space or other gathering spots - when they need to meet face-to-face.Thomas Barwick | Getty Images
In all, the real estate firm estimates that 82% of the damage will be related to cyclical factors: permanent office job losses and the rise of coworking, while 18% is related to structural factors: primarily assumptions about permanent remote workers and hybrid workers - those who work remotely some of the time.Work from home will double, and hybrid workers will increase. The study estimates that the share of people working permanently from home in the U.S. and Europe will increase from roughly 5-6% pre-Covid-19 to between 10% and 11% post-Covid, while the share of hybrid - also referred to as agile workers - will increase from between 32% to 36% to just under half of all workers.Levi Strauss & Co. CFO Harmit Singh recently told a CNBC @Work virtual event that it pulled the plug on any new commercial real estate during the crisis. "The myth that work from home is not productive has been busted," the Levi Strauss CFO said. "I believe we will settle into a culture where working from anywhere will be the new norm, with work from home or office or a hybrid arrangement."Google recently announced it will try a hybrid model of work as most of its employees do not want to be in the office every day.Many younger workers are taking advantage of the Covid remote working shift to travel, embracing a "digital nomadic" lifestyle, a shift which could become permanent for a new generation of labor.Over time, as economy shifts to a knowledge-based, professional services economy, it will offset the flexible workforce trend, Cushman & Wakefield's study concludes. "But in the near-term, there will be significant challenges for the office sector," Thorpe said. Many workers still do not feel safe enough to return to office. One study found that only 14% of workers said that they trust their CEOs and senior managers to safely lead them back to work. Global office vacancy will rise from 10.9% pre-Covid crisis to 15.6% by Q2 2022, the study forecasts.Some of the largest companies in the world have been expanding office space in major cities, such as New York, during the crisis.Facebook, which has been acquiring New York real estate for years, agreed last month to a major lease at the old James A. Farley post office building in Manhattan. Amazon has also purchased the Lord & Taylor building on 5th Avenue, and that is even though Facebook CEO Mark Zuckerberg has said as much as half of the company's workers may be remote in the future. In March, just as the Covid crisis hit the U.S., Amazon paid over $1 billion to acquire tha Lord & Taylor building in New York, which includes over 600,000 square feet of space.
Office real estate back to normal, in 2025
Commercial Real Estate Trends
The article, "Office real estate back to normal, in 2025," is published by CNBC and authored by Korey Matthews.The coronavirus remote work experiment ...
How Cities Are Forging Partnerships to Close the...
How Cities Are Forging Partnerships to Close the...
Published in State Tech Magazine on December 10, 2020
From the article, How Cities Are Forging Partnerships to Close the Digital Divide published in the State Tech online magazine by author ...
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jplist-topic-government
0
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How Cities Are Forging Partnerships to Close the Digital Divide
Government Trends
From the article, How Cities Are Forging Partnerships to Close the Digital Divide published in the State Tech online magazine by author Phil ...
How Governments Can Work with Schools to Bridge...
How Governments Can Work with Schools to Bridge...
Published in State Tech Magazine on April 1, 2021
From the article, How Governments Can Work with Schools to Bridge the Digital Divide for Students published in the State Tech online ...
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jplist-topic-government
0
503801
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How Governments Can Work with Schools to Bridge the Digital Divide for Students
Government Trends
From the article, How Governments Can Work with Schools to Bridge the Digital Divide for Students published in the State Tech online magazine by ...
After Covid-19, Office Leases Largely Come with...
After Covid-19, Office Leases Largely Come with...
Published April 6, 2021 on the Wall Street Journal website.
"After Covid-19, Office Leases Largely Come with Bargain Rates" is written by Peter Grant, Editor for the Wall Street Journal. Updated ...
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Commercial-Real-Estate-Trends-Commercial-Real-Estate-Trends
jplist-topic-commercial jplist-topic-commercial-real-estate jplist-topic-convey jplist-topic-covid-19 jplist-topic-covid jplist-topic-businesses jplist-topic-rent jplist-topic-lease
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"After Covid-19, Office Leases Largely Come with Bargain Rates" is written by Peter Grant, Editor for the Wall Street Journal. Updated April 6, 2021Big companies are making plans to stick with city-center office buildings, but they are cutting back on space and driving down rent prices for years to come, according to an analysis of U.S. office leasing trends prepared for The Wall Street Journal.
The Journal's leasing information comes from the data firm VTS, which tracks tens of thousands of negotiations across the U.S. between landlords and tenants. Landlord and tenant discussions in seven of the largest office markets offer an early glimpse into the evolving workplace strategies for hundreds of companies after a year of largely remote work.
Rent proposals made during the first quarter suggest that many companies in the biggest markets-including New York, San Francisco, Chicago and Los Angeles-are embracing an emerging hybrid model: maintaining a shrunken office presence while allowing employees to work remotely at least part-time.
The terms under negotiation show landlords are offering long-term leases of four and more years at discounts up to 13% below rent rates reached in the first quarter of 2020 when factoring in concessions like periods of free rent, according to VTS. Companies are also seeking on average about 10% less space than they were looking for in the first quarter of 2020.
As Covid-19 vaccine rollouts accelerate and more workers feel that it is safe to go back to the office, more companies might look to add office space. But if the current tenor of negotiations persists, it would be setting up building owners for a challenging period.
After Covid-19, Office Leases Largely Come with Bargain Rates
Commercial Real Estate Trends
"After Covid-19, Office Leases Largely Come with Bargain Rates" is written by Peter Grant, Editor for the Wall Street Journal. Updated April 6, ...
Here's the Technology Government Needs in 2021
Here's the Technology Government Needs in 2021
Published in govtech.com on March 2, 2021
From the article: Here's the Technology Government Needs in 2021 published on govtech.comTech executives from around the country met online ...
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jplist-topic-government
0
503800
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From the article: Here's the Technology Government Needs in 2021 published on govtech.comTech executives from around the country met online last week during the annual Beyond the Beltway event to get a market forecast from industry experts about the IT spending challenges and opportunities facing state and local governments in 2021.
One of the challenges at the forefront of the discussion was the impact of COVID-19 and how the pandemic contributed to state and local budget shortfalls last year. Despite these challenges, data shared during the event by the Center for Digital Government* suggests that an increase in IT spending is likely to occur over the course of the next few months.
"The most likely scenario is a 7 percent growth in IT spending, topping out at $118.7 billion," Joe Morris, e.Republic's vice president of research said.
Based on these figures, Morris broke down specific IT spending projections for different verticals within the state and local government market.
Education: $31.8 billionHealth and Human Services: $31.5 billionTransportation: $14 billionJustice and Public Safety: $10.8 billionFinance and Administration: $10.5 billionUtilities: $9.8 billionEnvironment and Housing: $8.4 billion
"The worst of the financial impacts have been felt by economies heavily supported by tourism, hospitality and low-income earners," Morris said. "If your revenue is primarily coming through sales tax, hospitality or tourism, you could be looking toward a much longer road to recovery."However, funding for education and public health has grown exponentially due to federal relief funds.
Since March 2020, states and localities have received over $360 billion in federal funds via several relief packages, including the CARES Act and the Families First Coronavirus Response Act.
Other federal relief packages, such as the $1.9 trillion American Rescue Plan that is currently being reviewed by the Senate, could provide another $350 million in federal funding to state and local governments.
But what does all of this mean for government IT?
For state government CIOs, the pandemic has put a spotlight on IT priorities like cybersecurity, budget and cost control, citizen experience, cloud computing and infrastructure modernization, governance, broadband connectivity and process automation, according to Morris.
Whereas county CIOs' have shifted their IT priorities to include the hiring and retaining of IT personnel, business intelligence and analytics, disaster recovery and continuity of operations, e-services, and so on.
As for what to expect moving forward, Morris said, "We expect the worst of the economic climate to hit local government over the next two years, probably over the next 18 to 36 months."
"The silver lining," he said, "is that it gives local government officials a little bit more time to plan and prepare, whereas state governments are bouncing back a little bit quicker."
Here's the Technology Government Needs in 2021
Government Trends
From the article: Here's the Technology Government Needs in 2021 published on govtech.comTech executives from around the country met online last week ...
Gartner Identifies Top 10 Government Technology...
Gartner Identifies Top 10 Government Technology...
Published on gartner.com on March 29, 2021
From the article: Gartner Identifies Top 10 Government Technology Trends for 2021 published on gartner.comGartner, Inc. has identified the ...
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Gartner Identifies Top 10 Government Technology Trends for 2021
Government Trends
From the article: Gartner Identifies Top 10 Government Technology Trends for 2021 published on gartner.comGartner, Inc. has identified the top 10 ...
Is Blockchain the Answer for COVID Vaccine...
Is Blockchain the Answer for COVID Vaccine...
Published in govtech.com on April 6, 2021
From the article: Is Blockchain the Answer for COVID Vaccine Passports? published on govtech.comThe public and private sectors are both ...
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From the article: Is Blockchain the Answer for COVID Vaccine Passports? published on govtech.comThe public and private sectors are both moving at record speed to gain ground in the fight against COVID-19, embracing every strategy and solution that could help people get back to "normal." We're ramping up testing, building momentum with vaccinations and setting up registries that enable people to prove their vaccination status. Recent headlines have covered different "vaccine passport" models being piloted in the U.S. and internationally.
However, a mobile app-based certification system, by itself, is incomplete and will prove to be ineffective on a global scale as much of the world's population still doesn't own a smartphone. To be honest, it might not even work on a national level here in the U.S., which is technologically dense, simply because not all vaccine administration sites are set up to certify vaccinations using a mobile app. Many Americans still receive a physical vaccine certificate as their only proof of inoculation. But handwritten, paper-based documentation is often illegible or incorrect. It's also easy to lose and counterfeit.
That's why the public and private sectors must work together to create a single, standardized vaccine verification system framework more akin to the traditional passport data exchange that border agents, airlines, hotels, educators and others trust to be authentic and true. However, it must be based on globally accepted and adopted interoperability standards if we are to restore both regional economies and the global travel and tourism industry, which employed 330 million people and contributed 10.3 percent of the global GDP before the pandemic.We shouldn't restrict people's rights to board a plane, train or boat simply because they don't have access to technology. Yet, we can't rely solely on physical cards - in their current form - to grant permission to travel, visit with loved ones, or return to work and school.
RETHINKING OUR USE OF TECHNOLOGY WILL HELP US GET FURTHER, FASTER
If we want to help people safely re-enter the (whole) world and restore some societal normalcy, we must think about what it will take to build trust in vaccine certificates, whether it's a piece of paper, a secure card, or a barcode or QR code on a mobile device.
Conversations with government, transportation, education and health-care leaders are confirming that we need to stand up a universally accessible vaccine verification system that enables all interested parties to reliably confirm:
which authority issued the person's vaccine certificate credential;that the credential is being presented by the person to whom it was issued;that the credential is authentic;that the credential has not been revoked.
That's why we must bring blockchain and digital ledger technologies (DLT) to the forefront of every vaccine verification system framework. Properly done, digital ledgers cannot be falsified and can reliably prove that a person has been vaccinated.
All a health-care provider would need to do is create an electronic record of an individual's vaccination using a mobile device such as a clinical smartphone or tablet, which are already used by many administering organizations around the world today, including pharmacists and retailers. The difference in this case is that the data would also be sent to the vaccine verification DLT in addition to the administering organization's internal health-care information system or a regional electronic health record (EHR) system.
Either a secure smartcard or tamper-proof label that can be affixed to a passport or other ID card could then be printed and given to the patient as physical proof of vaccination. It would be encoded with personal vaccination data that's easily verified via the DLT with a simple barcode or QR scan. That's the one key piece missing from most physical vaccine certificates today: the secure barcode or QR code that enables sensitive vaccination information to be stored digitally within the card or label versus on the front of it. Such secure encoding protects the security of the data and the privacy of the card holder.
Of course, if the patient does have a smartphone and wants a digital vaccine certificate (in addition to the physical certificate), it can be simultaneously issued using a mobile app on the patient's device. Both the physical and digital formats allow vaccination data to be backed up to the DLT record should authenticity or ownership ever be questioned or a replacement certificate ever need to be issued.
With this system framework, all it takes to validate a person's vaccination status is a barcode or QR code scan on the individual's card, label or personal smartphone. Depending on permission settings, the verifier will either see the full set of encoded data (name, vaccine manufacturer, batch number, vaccination date, etc.) or simply a "tick" confirming vaccination or a "cross" indicating that requirements have not been met.
WHAT DLT CAN DO FOR COVID-19 PANDEMIC RECOVERY THAT NO OTHER TECHNOLOGY CAN
Several governments around the world have already been actively exploring blockchain and DLT for vaccination certification. Both technologies are used in support of border trade to verify shipment information and by supply chains to increase accountability. This application isn't much different in principle.
However, DLT offers a unique advantage over blockchain - and every other type of digital record system - in that it's built around open source technology, completely decentralized and dependent on a cryptographically secure trust protocol between authorities, organizations and individuals to prevent unauthorized access to stored patient data. In other words, a DLT-based framework is key to developing the scalable, efficient and tamper-proof global electronic record system we need to share extensive patient vaccination data in a way that's optimized for intensive privacy protection.
If we want to open the world economy and enable everyone to move forward with their lives, including consumers who don't have access to mobile technology, we must work together to stand up this technology framework.
Is Blockchain the Answer for COVID Vaccine Passports?
Government Trends
From the article: Is Blockchain the Answer for COVID Vaccine Passports? published on govtech.comThe public and private sectors are both moving at ...
How a Local Government IT Strategy can Benefit...
How a Local Government IT Strategy can Benefit...
Published in govtech.com on November 5, 2020
From the article: How a Local Government IT Strategy can Benefit from Managed Services published in govtech.comAcross the United States, ...
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How a Local Government IT Strategy can Benefit from Managed Services
Government Trends
From the article: How a Local Government IT Strategy can Benefit from Managed Services published in govtech.comAcross the United States, smart city ...
2021 Commercial Real Estate Industry Outlook
2021 Commercial Real Estate Industry Outlook
Article posted on Dec 3, 2020 to Deloitte.com/us
Written by Jim Berry and Kathy Feucht on Deloitte's outlook for 2021 Commercial Real Estate Breaking inertia, gaining momentum THE impact ...
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jplist-topic-deloitte jplist-topic-industry-outlook jplist-topic-forecast jplist-topic-commercial-real-estate jplist-topic-covid-19 jplist-topic-impact
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Written by Jim Berry and Kathy Feucht on Deloitte's outlook for 2021 Commercial Real Estate
Breaking inertia, gaining momentum
THE impact of COVID-19 on the global economy and the CRE industry has made 2020 the most memorable year in recent history. CRE companies have needed to digitize operations, close physical facilities due to extensive lockdowns, and prepare for reopening, while ensuring the health and safety of employees and occupiers and considering the financial health of tenants and end users.
With economic recovery heavily dependent on a vaccine, the length of this downturn remains uncertain. As we write this outlook, economic activity is contracting due to a fresh resurgence of the virus in Europe.1 Large Asia-Pacific (APAC) economies such as Japan and Australia haven't yet turned the corner to growth, India is facing a severe downturn, and strained relationships between the United States and China are creating significant geopolitical tensions.2 According to Deloitte's economic forecast, in the United States, it is expected that "a vaccine and/or treatment will allow normal economic activity to begin to resume in mid-2021."3 As it will take time to deploy the vaccine, our economists expect growth to remain somewhat constrained for a period of time.4 (Click here to read Deloitte's latest US Economic Forecast.)
The CRE macro environment is being impacted similarly. But there is a dichotomy in operating fundamentals among property types-industrial real estate, health care, data centers, and cell towers have been positively disrupted, while offices, hotels, and retail have felt the negative effects. Global CRE deal volume declined 36% year over year (YoY) to US$306B in 2Q20 due to economic stagnation and an uncertain pricing environment.5 Prices are showing early signs of stress across the more negatively impacted property types. 6 For instance, US retail and office price indices declined 4.1% and 0.5% YoY in August. In contrast, industrial property index rose 7.4% YoY.7 Unlike the Global Financial Crisis (GFC), CRE companies had generally strong financials at the start of the pandemic and debt markets remain sufficiently liquid. Yet, troubled loans are rising; banks, fearing higher delinquencies, are tightening lending standards.8 In several sectors, rent collections have remained healthy, but largely because of higher tenant incentives and leasing concessions. Along with the evolving financial landscape, the pandemic has resulted in tectonic shifts in the way people live, work, and play, which has put unique pressures on certain property sectors.
With this as the backdrop, we wanted to understand how well-equipped CRE leaders were to weather the current economic situation, how they are planning to recover over the next 12 months, and how they are preparing to remain competitive and thrive in the long term. To do this, we surveyed 200 CRE senior executives-owners/operators, developers, brokers, and investors-in 10 countries during the summer of 2020. (See sidebar, "Methodology," for more details about the survey.) Overall, most survey respondents felt their companies were unprepared in certain important areas and that the industry continues to struggle to adapt their long-term strategies (figure 1). Some key challenges:
Only one-third of respondents agree or strongly agree that they have the resources and skills required to operate a digitally transformed business.Less than 50% of respondents consider digital tenant experience a core competency of their organization.Only 41% of respondents said their company has stepped up efforts to redefine business processes, job roles, and skill requirements to include the use of technology and tools.
CRE company leaders have their work cut out. To position their companies to thrive long term, they need to break inertia to move into rapid recovery. As monumental as 2020 has been, 2021 could be even more so; the critical decisions and investments leaders make now could come to fruition over the next 12 months. They should strive to be digital-optimizing business, operating, and customer models for a digital environment. Rapid digital transformation will likely be needed to build operational resilience, maintain a strong financial position, develop and retain talent, and create an enabling culture.
Mastering the tightrope
For many CRE industry leaders, the pandemic has been an eye-opener. It has tested the resilience of every single leader across the globe, and likely will for many months to come.
COVID-19 has forced companies to focus on cost containment and for many, heightened the need for-and pace of-digital transformation. Yet, the importance of empathy and human connection is also coming to the fore. People are increasingly missing human interaction, which was vastly reduced or eliminated due to shelter-in-place orders for a long period of time, and in some regions continues. And people remain anxious about their health and well-being and the health and well-being of their families and friends, which is compounded by growing concerns about climate change and political unrest in many parts of the world.37
Leaders should therefore master the art of walking on a tightrope-balancing business recovery, seizing new opportunities, and tenant and employee engagement. This will likely require a combination of elements: breaking down functional silos, enhancing leadership and organizational agility, increasing levels of collaboration and communication, and engaging in transparent and ethical decision-making. Traversing the tightrope effectively in these ways could differentiate organizations from their less successful competitors in the not-too-distant future.
2021 Commercial Real Estate Industry Outlook
Commercial Real Estate Trends
Written by Jim Berry and Kathy Feucht on Deloitte's outlook for 2021 Commercial Real Estate Breaking inertia, gaining momentum THE impact of COVID-19 ...
Local Officials Harness Cloud Capabilities for...
Local Officials Harness Cloud Capabilities for...
Published in State Tech Magazine on April 8, 2021
From the article, Local Officials Harness Cloud Capabilities for Emergency Management published in the State Tech online magazine by author ...
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Local Officials Harness Cloud Capabilities for Emergency Management
Government Trends
From the article, Local Officials Harness Cloud Capabilities for Emergency Management published in the State Tech online magazine by author Tommy ...
What 2021 Looks Like for the Commercial Real...
What 2021 Looks Like for the Commercial Real...
Forbes.com; Published on March 19, 2021
Galit Ventura- Rozen for Forbes.com, writes on What 2021 Looks Like for the Commercial Real Estate Market. Published March 19, 2021.The ...
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What 2021 Looks Like for the Commercial Real Estate Market
Commercial Real Estate Trends
Galit Ventura- Rozen for Forbes.com, writes on What 2021 Looks Like for the Commercial Real Estate Market. Published March 19, 2021.The pandemic has ...
What Impact has COVID-19 had on Commercial Real...
What Impact has COVID-19 had on Commercial Real...
A report from the World Economic Forum published April 6, 2021
The article on The Economic Impact of COVID-19 is from the World Economic Forum website and is written by Andrea Deghi, Financial Sector ...
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jplist-topic-covid-19 jplist-topic-commercial-real-estate jplist-topic-real-estate jplist-topic-economics jplist-topic-reports
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The article on The Economic Impact of COVID-19 is from the World Economic Forum website and is written by
Andrea Deghi, Financial Sector Expert, IMFFabio M. Natalucci, Deputy Director of the Monetary and Capital Markets Department, IMF
Empty office buildings. Reduced store hours. Unbelievably low hotel room rates. All are signs of the times. The containment measures put in place last year in response to the pandemic shuttered businesses and offices, and dealt a severe blow to the demand for commercial real estate-especially, in the retail, hotel, and office segments.
The commercial real estate sector has the potential to affect broader financial stability.- Andrea Deghi, Fabio Natalucci
Beyond its immediate impact, the pandemic has also clouded the outlook for commercial real estate, given the advent of trends such as the decline in demand for traditional brick-and-mortar retail in favor of e-commerce, or for offices as work-from-home policies gain traction. Recent IMF analysis finds these trends could disrupt the market for commercial real estate and potentially threaten financial stability.
Most regions and sectors have seen a reduction in the volume of transactions.Image: Real Capital Analytics, IMF
The financial stability connection
The commercial real estate sector has the potential to affect broader financial stability: the sector is large; its price movements tend to reflect the broader macro-financial picture; and, it relies heavily on debt funding.
In many economies, commercial real estate loans constitute a significant part of banks' lending portfolios. In some jurisdictions, nonbank financial intermediaries (e.g., insurance firms, pension funds, or investment funds) also play an important role despite the fact that banks remain the largest providers of debt funding to the commercial real estate sector globally. An adverse shock to the sector can put downward pressure on commercial real estate prices, adversely affecting the credit quality of borrowers and weighing on the balance sheets of lenders.
The risk of a fall in prices grows when we can observe large price misalignments-that is, when prices in the commercial real estate market deviate from those implied by economic fundamentals, or "fair values." Our recent analysis shows that these price misalignments magnify downside risks to future GDP growth. For instance, a 50-basis-point drop in the capitalization rate from its historical trend-a commonly used measure of misalignment-could raise downside risks to GDP growth by 1.4 percentage points in the short term (cumulatively over 4 quarters) and 2.5 percentage points in the medium term (cumulatively over 12 quarters).
Price misalignment amplify downside risks to GDP growth.Image: Haver Analytics; MSCI Real estate; IMF
COVID-19's heavy toll
Looking at the impact of the pandemic, our analysis also shows that price misalignments have increased. Unlike previous episodes, however, this time around the misalignment does not stem from excessive leverage buildup, but rather from a sharp drop in both operating revenues and the overall demand for commercial real estate.
As the economy gains momentum, the misalignment is likely to diminish. Nevertheless, the potential structural changes in the commercial real estate market due to evolving preferences in our society will challenge the sector. For example, a permanent increase in commercial property vacancy rates of 5 percentage points (due to a change in consumer and corporate preferences) could lead to a drop in fair values by 15 percent after five years.
Potential structural shifts in commercial real estate demand could significantly lower the fair value of commercial real estate.Image: Haver Analytics; MSCI Real estate; IMF
One must keep in mind, however, that there is huge uncertainty about the outlook for commercial real estate, making a definitive assessment of price misalignments extremely difficult.
Policymakers' role in countering financial stability risks
Low rates and easy money will help nonfinancial firms continue to be able to access credit, thereby helping the nascent recovery in the commercial real estate sector. However, if these easy financial conditions encourage too much risk-taking and contribute to the pricing misalignments, then policymakers could turn to their macroprudential policy toolkit.
Tools like limits on the loan-to-value or debt service coverage ratios could be used to address these vulnerabilities. Moreover, policymakers could look to broaden the reach of macroprudential policy to cover nonbank financial institutions, which are increasingly important players in commercial real estate funding markets. Finally, to ensure the banking sector stays strong, stress testing exercises could help inform decisions on whether adequate capital has been set aside to cover commercial real estate exposures.
What Impact has COVID-19 had on Commercial Real Estate?
Commercial Real Estate Trends
The article on The Economic Impact of COVID-19 is from the World Economic Forum website and is written by Andrea Deghi, Financial Sector Expert, ...
Foreign Investment Update: Where Capital will...
Foreign Investment Update: Where Capital will...
Published by Commercial Property Executive on March 12, 2021
Published on March 12, 2021 for the Commercial Property Executive; Gail Kalinoski writes on the Foreign Investment Update: Where Capital ...
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Published on March 12, 2021 for the Commercial Property Executive; Gail Kalinoski writes on the Foreign Investment Update: Where Capital will Travel in 2021
Foreign investment in U.S. commercial real estate declined 31 percent in 2020-a seven-year low-to $28 billion, as COVID-19 restrictions impacted cross-border capital flows across the globe. Worldwide, cross-border investment dropped 19 percent to $217 billion, according to CBRE.
The decline in U.S. inbound investments is likely even deeper, noted Richard Kleinman, head of U.S. research and strategy & Co-CIO Americas at LaSalle Investment Management, who said data on cross-border activity in the U.S. can often miss the amount of investments that flow through funds.
"Many foreign investors don't buy direct properties that Real Capital Analytics and others are able to pick up. Rather they're going into co-mingled funds whether they are open-ended or closed-ended funds and investing that way alongside domestic investors," Kleinman said. "We did see a slowdown in that similar to the direct transaction market."
2020 U.S. Inbound Investment by Sector. Chart by CBRE
That may not be surprising because JLL noted in a February global real estate report the "fundraising environment was still challenging, with closed-end fundraising in 2020 declining 35 percent year-over-year."
But JLL also reported the average fund size had reached an all-time high and that despite market volatility, commercial real estate allocations were generally stable or growing, with logistics and multifamily sectors showing the most strength, while there was a moderate recovery in the office sector, as investor interest expanded in global gateway markets.
A new CBRE report on U.S. inbound investment trends for the second half of 2020 found EMEA-based investors accounted for the biggest decline in foreign investments-63 percent of the total volume decline. Canada retained its position as the top cross-border investor in U.S. commercial real estate, with $10.5 billion in investments, or 36.6 percent of total 2020 investments.
"Canadian capital is always pretty dominant in U.S. markets. They know the U.S. market well," said Richard Barkham, CBRE global chief economist & head of Americas research, noting the geographic closeness and Canada's well-funded pensions that are major institutional investors.
Both Barkham and Kleinman highlighted the growth of Singapore and South Korea investors in 2020. Capital inflows from Singapore and South Korea increased by 48 percent over 2019, Barkham said. South Korea was the second-highest cross-border investor in the U.S. in 2020, with $3.4 billion in investments, representing 11.7 percent of the total cross-border investments in 2020. Singapore placed fourth with $2.5 billion invested, or 8.8 percent of the overall total. Germany, with $3.2 billion in investments and the U.K. with $1.5 billion, rounded out the top five sources of inbound capital in the U.S., according to CBRE.
Lower currency hedging costs caused by low short-term interest rates in the U.S. and depreciation of the U.S. dollar likely played a role in the increased activity by Singapore, South Korea and other foreign investors, including the U.K.
"Often the cost of a hedge is dependent on the difference between the short-term interest in the U.S. versus whatever country their currency is in. So pre-pandemic short-term interest rates in markets like Japan and in Europe were close to zero. U.S. short-term interest rates were climbing above 1 percent. With the onset of the pandemic, the Fed cut short-term interest rates close to zero and so there's less cost with those hedges now," Kleinman said.
Barkham said he expects investments from South Korea and Singapore to continue to grow. Last week, Singapore-based Mapletree Investments acquired Uptown Station, a 397,000-square-foot Class A creative office and retail building in Oakland, Calif., reportedly for more than $400 million. In December, the National Pension Service of Korea formed a joint venture with Stockbridge to acquire core logistics properties across the U.S. and purchased a 23-asset, 14.3 million-square-foot Class A logistics portfolio as its first transaction.
London-based Knight Frank does expect Singapore to be a major player in global cross-border activity in 2021 along with the U.S., Germany and the U.K. Knight Frank expects COVID-19 will continue to impact real estate investment and mobility and so predicts cross-border flows will happen more frequently in 2021 between "near-neighbors" and to safe-haven locations led by Canada to the U.S. and from the U.S. to the U.K.
In its "Where Will Capital Flow in 2021?" report, Knight Frank projects cross-border investments from Canada to the U.S. will reach $13.3 billion this year, the largest amount of foreign investment in its Top 10 list. The firm lists Germany in the sixth position with a prediction of $4.2 billion in investments into the U.S. in 2021 and South Korea in ninth position with about $3 billion projected to be invested in the U.S. this year. Overall, Knight Frank expects the U.S. to receive the most amount of cross-border capital investments in 2021 followed by the U.K., Germany, Australia, France, Japan, Netherlands, Mainland China, Canada and Finland.
LOGISTICS LEADS
Foreign investments in U.S. industrial and logistics properties rose 36 percent between 2019 and 2020, reaching $8.5 billion last year, according to CBRE.
"One of the key findings was how strong industrial fundamentals were. Some of the areas that foreign capital targeted in the U.S. (for industrial acquisitions) were Atlanta, Indianapolis and the Inland Empire," Barkham said.
Barkham noted overseas investors are also very interested in U.S. multifamily, which saw transactions in markets like San Diego and Sacramento, Calif.
While logistics is the most-active space for investments currently, Kleinman said foreign investors are also beginning to focus on niche property types including medical office, life sciences, self storage and data centers.
"Often cross-border investors may not be as familiar with those but we have seen activity from them in those sectors in 2020," Kleinman said. "They are working side by side with domestic institutions to better understand these property types that may be more prevalent in the U.S. market than their home markets and getting comfortable with them as part of diversified real estate portfolios."
Foreign Investment Update: Where Capital will Travel in 2021
Commercial Real Estate Trends
Published on March 12, 2021 for the Commercial Property Executive; Gail Kalinoski writes on the Foreign Investment Update: Where Capital will Travel ...
The Value of Virtual Care: The Advantages of...
The Value of Virtual Care: The Advantages of...
Article from HealthTechZone.com published on March 11, 2021
From the article: The Value of Virtual Care: The Advantages of Telemedicine published in healthtechzone.com:Virtual care became a valuable ...
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From the article: The Value of Virtual Care: The Advantages of Telemedicine published in healthtechzone.com:Virtual care became a valuable resource in the fight to deliver efficient and effective healthcare services even as the first wave of COVID-19 tore across the country. One year later, telehealth initiatives have become common features of care infrastructure nationwide.
But what happens next? With ongoing vaccination efforts now offering a slow and steady solution to pandemic pressures, what role does virtual care play? Is remote healthcare here to stay, or are the days numbered for connected care initiatives?How Telehealth Allows for Diverse Care Options
According to the American Medical Association, there's little doubt that virtual care will remain in some form even after crisis conditions ease. Although approximately 50 percent of healthcare providers deployed virtual health services for the first time during this pandemic, the likely future of these frameworks is optimization, not obsolescence.
That projection stems in part from the opportunity presented by crisis-driven care challenges.
"What we found, in being forced to pivot, was that we can better identify which type of visit - in person, telephone or virtual - is best for each patient," says Steph Willding, CEO of Chicago's CommunityHealth, the nation's largest free, volunteer-based healthcare organization. "While you don't usually think about a free health center being a hub for innovation, 40 percent of our visits are now by video or phone."
At Tucson Medical Center, virtual healthcare technology innovation started with a new approach to patient visits, says Susan Snedaker, information security officer and interim CIO for TMC HealthCare.
"In our hospital, we had virtual visits within the walls of the building to reduce the need for PPE use," she says. "With limited supplies and time needed for doctors to put on required PPE - sometimes up to 20 minutes - we found a lot of value in real-time text, video and chat solutions."
Telemedicine Places Care Where It's Most Needed
In traditional healthcare settings, space and place are critical. Care facilities need enough space for doctors, patients, administrative staff and equipment, and all the necessary parties must be in the same place at the same time.
From Willding's perspective, the pandemic offered healthcare enterprises the chance to "rethink space and place for patient-centered care." CommunityHealth's approach is to create a hybrid model by establishing telehealth hubs - or "microsites" - throughout Chicago.
"These hubs are colocated in existing community organizations, making them incredibly sustainable," says Willding. "Patients can come to a site in their own community and receive an assisted medical visit. Medical assistants are onsite to help with vital statistics and basic care, and to set up patients in rooms for virtual visits with an expert."
CommunityHealth plans to open its first microsite in April, with the goal of opening a new one each quarter.
In practice, solutions like this highlight the need for healthcare agencies to understand where they can make best use of telemedicine's advantages. For CommunityHealth, creating a hybrid in-person/telemedicine model made the most sense for their client base.Remote Care Technology Empowers Patients with Greater ChoiceOrganizations must also account for the changing nature of the healthcare market at large."Thanks to the consumerization of healthcare technologies, the balance of power has shifted," says Snedaker. "Providers still have a schedule, but they're effectively on-demand for patients. As a result, both the provider and the patient benefit, and this drives critical mass for adoption."In effect, this disconnect between care and location - much like the emerging shift in space and place - creates an opportunity for asynchronous assistance. It's no longer necessary that patients and providers be in same place at the same time.
Payment policies and regulations are also changing in response to evolving virtual care deployments. For example, in December, The Centers for Medicare and Medicaid Services released its list of covered telehealth services for the COVID-19 pandemic, which significantly expanded providers' ability to deliver on-demand care without breaking budgets. In effect, the broader coverage allowed them to remain profitable while offering patient-centric services.
Although there's no guarantee that CMS' coverage schedule will remain the same as pandemic pressures ease, it represents a significant step forward in the recognition that asynchronous service has the same fundamental value as in-person visits.
Compliance will also play a critical role in the ongoing impact of virtual health services. It makes sense: The more patient data is collected and stored by healthcare agencies on local servers and in the cloud, the more that oversight around data transmission, use and eventual erasure will increase.
The U.S. Department of Health and Human Services has noted that it "will not impose penalties for noncompliance with the regulatory requirements under the HIPAA Rules against covered health care providers in connection with the good faith provision of telehealth during the COVID-19 nationwide public health emergency." Even so, that suspension won't last forever, and healthcare organizations must deploy effective identity, access and security management controls to ensure that, as normalcy returns, risk remains under control.Post-Pandemic Care Reflects the Momentum of Change
For Snedaker, hybrid models form the future of telemedicine.
"We'll continue to see both telehealth and face-to-face services," she predicts. "While a lot of people like the convenience of telehealth, they're missing that connection with providers. Virtual health services will get dialed back to some degree, but they will stay."
Ultimately, she makes a compelling case for the evolving value of virtual care.
"Never waste a crisis," she says. "The most impactful thing about this pandemic was breaking through the barriers that kept us from thoughtful technology adoption. Over time, we will end up in a much better place."
The Value of Virtual Care: The Advantages of Telemedicine
Healthcare Trends
From the article: The Value of Virtual Care: The Advantages of Telemedicine published in healthtechzone.com:Virtual care became a valuable resource ...
Digital, Omnichannel Platforms Modernize Patient...
Digital, Omnichannel Platforms Modernize Patient...
Article from HealthTechZone.com published on March 11, 2021
From the article: Digital, Omnichannel Platforms Modernize Patient Access published in healthtechzone.com:When it comes to communicating ...
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From the article: Digital, Omnichannel Platforms Modernize Patient Access published in healthtechzone.com:When it comes to communicating with healthcare organizations, patients have developed new expectations for how to engage with their providers. These demands have moved healthcare practices to prioritize a digital-first communication strategy that accommodates changing patient preferences and increased reliance on smartphones and mobile devices.The COVID-19 pandemic has accelerated patients' expectations of mobile devices as the primary communication tools for receiving care from their provider, and healthcare systems must adapt.
Evolving Patient Preferences Call for Modernized Systems
The pandemic has forced both patients and providers to embrace new forms of communication through the internet, video and chat. This has given both parties a taste of how digital collaboration can make interactions more convenient.
For instance, before the pandemic, many patients were hesitant to use a telehealth solution when they could just as easily visit their local clinic to meet with a provider in person. However, now that walking into a clinic comes with the inherent risk of exposure to COVID-19, many patients are more willing to try out virtual visits in lieu of an in-person appointment. Of course, the reason for the visit largely determines the patient's preference for how he or she receives care, given that some health matters still require in-person visits.
Despite more widespread adoption of telehealth solutions, most healthcare facilities and providers still lack the technology needed to drive interoperability and accessibility on a large scale. According to a new survey from Experian Health, 78 percent of patients said they would like to schedule appointments digitally, but more than half of providers surveyed felt that scheduling is too difficult to offer as a self-service. Most healthcare providers are still using traditional phone systems or in-person interactions for some or all of their patient access needs.Given the major disruption to in-person care caused by the pandemic, however, modernizing patient access communications has become an urgent priority for healthcare organizations. Now that patients want to securely interact with providers in a more productive and convenient way, providers need to create efficiencies that result in better care and increased revenue.Healthcare Systems Adapt to Accommodate Digital Communications
While patients have sought ways to continue care virtually, healthcare systems have been grappling with how to support the practice with reduced or virtual staff. Although many caregiving professionals remained in the office, contact center agents and administrative staff were sent home to work remotely. This proved to be difficult for organizations that lacked the right communication technology to make the transition efficient and successful.
Many healthcare contact centers quickly discovered that their on-premises legacy technology was not nimble enough to support such a disruption to everyday workflows. As a result, organizations have become acutely aware of the value in modernizing their patient access communications. Before the pandemic, some organizations expressed interest in updating their systems to evolve with changing patient expectations, but now many view the need to modernize as an immediate requirement merely to keep their virtual doors open during the shutdown.The small percentage of healthcare systems that were already using a cloud-based, omnichannel solution for their contact center communications found that the transition to a remote agent workforce could be done with speed and ease. Often, it even improved the patient access experience. As clinics kept their physical doors closed for the first few weeks of the pandemic, or operated with limited business hours, some patients experienced improved access to care in certain situations as a result of the quick shift to digital.
Many patients found that receiving basic or routine healthcare was far less complicated and time-consuming once digital communication technologies were in place, in part due to the unusual circumstances that pushed practices to loosen some of their requirements. For example, some organizations waived the need for patients to have in-person visits to get prescription refills. Instead of having to schedule and travel to an appointment, patients could now quickly chat with their provider on a secure portal to have the prescription renewed. For providers, this move to virtual care increased efficiency, allowing them to care for more patients while eliminating the risk of COVID-19 exposure that exists with in-person visits.
Of course, modernized patient access and virtual care is not possible without the deployment of advanced contact center technology. Having a nimble, cloud-based platform is critical to healthcare organizations as they look to modernize patient access now and into the future.Omnichannel Communications Are Essential for Healthcare
While the pandemic has pushed the healthcare industry to modernize patient access at a much faster pace, the need for better communication will remain long after the nation recovers. Healthcare organizations must replace legacy phone technology with a multichannel, interdepartmental communication system to better support their patient base and drive bottom-line revenue.
Omnichannel solutions optimize work processes that enable organizations to enhance patient care by allowing for the seamless movement of critical communications from one channel to the next - an essential function in modernizing patient access. Now that patients are increasing their use of digital communications, the need to connect those channels (including chat, text messaging and video) will become key to the patient experience.
Today, patients have a wealth of choices when it comes to getting the care they need. If healthcare organizations do not meet patients where they are, they will lose patients and be left behind. All points of patient access, including appointment scheduling, telemedicine, bill payment and claim management, must be simple, flexible, compliant and completely secure.
Digital, Omnichannel Platforms Modernize Patient Access
Healthcare Trends
From the article: Digital, Omnichannel Platforms Modernize Patient Access published in healthtechzone.com:When it comes to communicating with ...
How Surgeons Use VR Technology to Train and Adapt
How Surgeons Use VR Technology to Train and Adapt
Article from HealthTechZone.com published on November 25, 2020
From the article: How Surgeons Use VR Technology to Train and Adapt published in healthtechzone.com:Surgical training platforms that ...
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How Surgeons Use VR Technology to Train and Adapt
Healthcare Trends
From the article: How Surgeons Use VR Technology to Train and Adapt published in healthtechzone.com:Surgical training platforms that leverage virtual ...
VA, Air Force Test Out 5G in Hospital Settings
VA, Air Force Test Out 5G in Hospital Settings
Article from HealthTechZone.com published on March 4, 2021
From the article: VA, Air Force Test Out 5G in Hospital Settings published in healthtechzone.com: In February 2020, the VA Palo Alto Health ...
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From the article: VA, Air Force Test Out 5G in Hospital Settings published in healthtechzone.com:
In February 2020, the VA Palo Alto Health Care System in California became the first Department of Veterans Affairs hospital, and one of the first hospitals in the world, to establish 5G connectivity.
The VA, along with agencies such as the Department of Defense, is testing 5G to develop and validate healthcare applications that could improve patient care.
In the U.S. healthcare sector, says Dr. Thomas Osborne, director of the VA's National Center for Collaborative Healthcare Innovation, costs are growing, the population is aging, and there are not enough providers to deliver the same care as in the past.
"It is a very dramatic time in healthcare where we have both the opportunity and the responsibility to solve these challenges," he says. "However, if we don't, there could be far-reaching negative consequences."
The solution, Osborne believes, lies in technology: in particular, 5G, which carriers have continued to roll out in small-scale launches since the spring of 2019. The technology supports diverse radio-frequency spectrum bands that have very high available bandwidth, and speeds between 10 and 100 times faster than those of 4G LTE, with latency cut to milliseconds.
"In healthcare, we are producing a ton of data, which is really important. However, we haven't realized the potential of this resource that requires advanced analytics and the ability to efficiently transmit data in a way that is actionable at the point of care," Osborne says.
"If 4G is like driving on a narrow dirt road, 5G is like cruising on a five-lane superhighway without any traffic. It allows you to move more data, faster and more efficiently. All kinds of important and exciting opportunities open up as a result."
5G Networking Drives Wide-Ranging Healthcare Applications
Leo Gergs, 5G markets research analyst at ABI Research, says he sees it not only powering clinical use cases, but also improving healthcare operations.
"One of the interesting revelations I came across during my research is that a nurse spends only 18 percent of the day performing patient-facing duties," he says. "The rest is spent filling out forms, personnel management or even doing trivial things like searching for equipment. Deploying 5G doesn't eradicate all of that workload, but it reduces it substantially."
"If we're reducing that to the point where a nurse would spend just half of the day doing administrative tasks," he says, "that would obviously increase patient-facing time and decrease personnel costs, while also increasing the quality of the healthcare system as a whole."
Osborne has a long list of use cases for 5G, including augmented reality (AR) applications such as medical education; pre-surgical planning; operative guidance; remote surgical consults; and remote, real-time training. His VA team is collaborating with partners such as Verizon for the 5G infrastructure and Microsoft for its HoloLens headsets.
"Recently, we connected teams in New York and in Palo Alto, all interacting with the same holographic model of human anatomy, at the same time," Osborne says. "It felt like we were all in the same physical room. I don't think anyone's ever done distant medical training like that before, and it's particularly important in the time of COVID."
"You have these 3D, holographic human anatomy models that are real size, but you can also expand them so that they're larger than life," Osborne adds. "To be able to virtually enlarge and walk inside structures such as the human heart, that takes learning to a whole other level."
Osborne's team is also collaborating with partners on applications that would project MRIs and other scans directly onto a patient's body, he says, giving physicians virtual X-ray vision to guide surgeries and other interventions.
"A CT scan of someone's body may contain hundreds and sometimes thousands of images, and each can be several megabytes in size," he notes. "In addition, the technology needs to merge 2D images together to create an interactive 3D model image, and those are big files.
"You need the superior bandwidth to allow the efficient relay of large amounts of data to make the whole process effective without lag time or jittering images. This is particularly important in surgery because it has to be flawless."
A major 5G experimentation initiative is also underway at Joint Base San Antonio, which was one of 12 DOD sites selected in June 2020 to test the technology.
Michael Lovell, Electromagnetic Defense Initiative executive director and leader of the 5G efforts at JBSA, says the technology could "collapse time and space" between field medics and medical experts anywhere in the world, improving trauma care in battle.
"What 5G offers is low latency, high speed and great throughput," Lovell says. "You can enable a medical corpsman in the field to access the expertise of a trauma surgeon halfway around the world, in real time."
Col. Sean Hipp, director of the virtual medical center at Brooke Army Medical Center, which is housed at JBSA, says the 5G testing program has many goals.
"We really want to support medical training, telehealth, telerobotic surgery, AR and also medics in the field," he says. "One key component is making sure we are empowering our airmen, medics and corpsmen who are far-forward."
Federal Programs Are Moving 5G Forward in Healthcare
Although commercial 5G rollouts began two years ago, they have proceeded slowly, with manpower and other logistical concerns limiting their speed. So, while agencies may develop cutting-edge applications in the coming months, it will likely be several years before 5G is pervasive across federal healthcare.
Gergs anticipates a wait of at least two years for a mature market to develop for devices reliable enough to fully utilize 5G in healthcare settings.
"I hope we'll be doing more testing and moving this program forward by the summer and fall of 2021," says Hipp. "The big thing for me is the collaboration. We work in siloes constantly, and this program is trying to break down those siloes. I'm really excited about the future."
The 5G initiative at JBSA acquired a 24,000-square-foot testing facility last year, and Lovell says he's excited to start testing out Internet of Things applications, among other use cases, at the site.
"It makes my mind spin to think of the opportunities we have," he says. "It's not like you have to push fiber through a wall anymore. The technology is leapfrogging itself at a very rapid rate."
VA, Air Force Test Out 5G in Hospital Settings
Healthcare Trends
From the article: VA, Air Force Test Out 5G in Hospital Settings published in healthtechzone.com: In February 2020, the VA Palo Alto Health Care ...
During the Pandemic, Remote Patient Monitoring...
During the Pandemic, Remote Patient Monitoring...
Article from HealthTechZone.com published on April 5, 2021
From the article: During the Pandemic, Remote Patient Monitoring Took on New Meaning for Doctors published in healthtechzone.com: When the ...
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During the Pandemic, Remote Patient Monitoring Took on New Meaning for Doctors
Healthcare Trends
From the article: During the Pandemic, Remote Patient Monitoring Took on New Meaning for Doctors published in healthtechzone.com: When the COVID-19 ...
Kentucky hospital 1st in US to implant Bluetooth...
Kentucky hospital 1st in US to implant Bluetooth...
Article from BeckersHospitalReview.com published on October 15, 2020
From the article: Kentucky hospital 1st in US to implant Bluetooth heart device from beckershospitalreview.com: A surgical team at St. ...
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From the article: Kentucky hospital 1st in US to implant Bluetooth heart device from beckershospitalreview.com:
A surgical team at St. Elizabeth Edgewood (Ky.) Hospital recently performed the first implantation of a Bluetooth-connected cardiac defibrillator in the U.S.
The device, called the Abbott Gallant, is a biventricular implantable cardiac defibrillator that earned FDA approval in July and is the first to wirelessly pair with a smartphone app for patients.
Mohamad Sinno, MD, a cardiac electrophysiology specialist at St. Elizabeth Edgewood, led the procedure. Learn more here.
Kentucky hospital 1st in US to implant Bluetooth heart device
Healthcare Trends
From the article: Kentucky hospital 1st in US to implant Bluetooth heart device from beckershospitalreview.com: A surgical team at St. Elizabeth ...
4 Healthcare Technology Trends Expected to Boom...
4 Healthcare Technology Trends Expected to Boom...
Article from healthtechmagazine.net published March 8, 2021
From the article: 4 Healthcare Technology Trends Expected to Boom During COVID-19 published in healthtechmagazine.net: When the pandemic ...
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From the article: 4 Healthcare Technology Trends Expected to Boom During COVID-19 published in healthtechmagazine.net: When the pandemic hit in full force last March, healthcare organizations had to pivot overnight. What was once impossible became necessary, and what was once unlikely became an everyday occurrence. While this disruption came with growing pains - health organizations faced supply, staff and support shortages for months on end - the World Economic Forum notes that "the industry's response has vividly demonstrated its resilience and ability to bring innovations to market quickly."
In other words, the proverbial cat is out of the bag - and there's no putting healthcare innovation back once pandemic pressures ease. Here's a look at four key technology trends healthcare enterprises can expect in 2021 as COVID-19 comes under control.1. Predictive Analytics in Healthcare
Although the first few months of the pandemic came with unparalleled uncertainty, ongoing work into the causes, mechanisms and mortality of the disease have yielded valuable healthcare data. By the beginning of December, researchers from the John Hopkins Bloomberg School of Public Health had developed a COVID-19 mortality risk calculator to estimate the potential of severe outcomes for individuals and inform vaccine rollouts.
According Susan Snedaker, information security officer at Tucson Medical Center and interim CIO for TMC HealthCare, this is just the beginning for predictive analytics.
"There's a lot of opportunity here," she says. "Teams have improved their disease tracking and risk management. As information evolved, a lot of people were digging into the data to see if they could predict outcomes for patients or treatment plans that were being created on the fly. They saw the value of quick-moving data."
She anticipates that after the pandemic passes, the value around predictive analytics in healthcare will remain, but adoption "will be slower and more thoughtful."2. IoMT: Connected Medical Devices Support Proactive Health Care
The Internet of Medical Things (IoMT) also gained significant ground during the pandemic, allowing providers to deliver proactive care at a distance. Applications have ranged widely, from connected wearables that report critical patient data to the deployment of "smart beds" in hospital settings to improve patient comfort.
The uptake of connected devices and digital health technologies went better than expected, says Snedaker.
"There was a widespread notion that people would be resistant to digital communication, but what healthcare pros realized was that families and patients liked brief, more frequent updates," she says.
For TMC, this was reflected in the adoption of a connected device initiative that allowed operating room staff to quickly send patient status updates via group chat to a set of selected family members. These texts were prewritten, brief and one-way; information, not conversation, was the goal.
According to Snedaker, it worked. "We found these brief, frequent updates brought comfort to families, and we found the patient experience was better overall."3. Future Telehealth Advances Will Deliver the Best of Both Worlds
Together, many of the shifts that have taken place have moved the needle toward a more patient-focused experience of healthcare delivery.
"The pandemic pointed to the need for patient-centered healthcare," says Stephanie Willding, CEO of CommunityHealth, the nation's largest volunteer-based free medical facility. "Before the pandemic, there were many ways the industry wasn't operating in a patient-centered way."
One challenge that CommunityHealth had to overcome was pivoting operational approaches on the fly to account for the recall of volunteer providers to their primary care facilities. However, says Willding, the adoption of virtual visits has proved advantageous.
"Our no-show rate has gone from 18 percent to 5 percent," she says. "This approach is now core to our model of care, with 40 percent of visits by video or phone."
Although many providers expect the expansion of telehealth to persist even after patients and providers can safely meet in person, they also expect this technology-driven approach to undergo its own evolution. For Willding and CommunityHealth, this means combining low-tech solutions such as standard blood pressure cuffs with video tutorials, allowing patients to self-report key data.
Such solutions will be essential for healthcare organizations serving distributed, disparate populations who may lack access to unlimited smartphone data or high-speed broadband internet.4. New Cybersecurity Concerns Increase Cloud Adoption in Healthcare
Changes in care delivery models also have implications for associated IT infrastructure, with cybersecurity concerns pushing some organizations to the cloud.
At TMC, a major transition to the cloud is underway, says Snedaker.
"We're seeing articles about security gaps, and it's because healthcare has primarily kept data on-premises," she says. "As we deploy telehealth, infrastructure security becomes more important and more elusive. There's no edge anymore - infrastructure is very porous."
To solve for evolving cybersecurity issues in healthcare, Snedaker recommends that organizations shift both their technology and mindset.
"Not all organizations can keep up with the security learning curve," she notes. "Moving to the cloud is no different than buying brand new technology for your on-premises data center and not knowing how to use it."
In other words, simply deploying the scope and scale of cloud resources necessary to support tech-driven healthcare initiatives isn't enough by itself. IT staff must be prepared to address common challenges, such as distributed denial of service attacks and ransomware, along with more targeted threat vectors such as COVID-19 vaccination scams.
For healthcare organizations, the new normal that's on the horizon will come with an increased focus on technology-driven solutions to help better predict patient outcomes, increase consumer connectivity, embrace evolving telehealth expectations and defend the next generation of medical IT infrastructure.
Willding puts it simply: "It's time to rethink space and place to deliver improved, patient-centered care."
4 Healthcare Technology Trends Expected to Boom During COVID-19
Healthcare Trends
From the article: 4 Healthcare Technology Trends Expected to Boom During COVID-19 published in healthtechmagazine.net: When the pandemic hit in full ...
10 emerging trends in health IT for 2021
10 emerging trends in health IT for 2021
Article from BeckersHospitalReview.com published December 28th, 2020
From the article: 10 emerging trends in health IT for 2021 published in beckershospitalreview.com:Health IT adoption skyrocketed in 2020 as ...
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From the article: 10 emerging trends in health IT for 2021 published in beckershospitalreview.com:Health IT adoption skyrocketed in 2020 as hospitals, health systems and patients increasingly relied on digital health technologies for care delivery during the pandemic, setting the stage for continued growth and innovation in 2021.
Becker's health IT team has compiled 10 of the top health IT trends on CIOs' radars for next year, from telehealth to cybersecurity and big data.
1. The CIO and IT teams evolution. Health systems relied on technology to swiftly move to virtual care, remote work and more coordinated communication and data management during the pandemic. Cybersecurity was also a new priority as ransomware attackers hit hospitals and health systems. As a result, the CIO's expertise was in high demand in 2020, and that will likely continue in the new year.
"At Providence we are seeing firsthand the expansion of the CIO role and its elevated value in the health system," said B.J. Moore, executive vice president and CIO of Renton, Wash.-based Providence. "I now report to our CEO, Rod Hochman, MD, and my role has expanded to include our real estate and operations function. This is in recognition of the future of a modern digital workforce and the evolution of our facilities in the future of modern digitally enabled care delivery."
Organizations will continue accelerated digital transformation next year, and the CIO's role will evolve to look more like that of a COO's, overseeing the organization's strategy and risk management. IT teams also are evolving to include more people with clinical backgrounds, data scientists and senior security professionals.
2. A new age of cybersecurity. Hackers stepped up their efforts to attack healthcare providers in 2020 to go beyond phishing attacks and stealing information to sell on the dark web. Ransomware attacks, especially during the second half of the year, shut down IT systems and slowed operations at hospitals and healthcare facilities across the U.S. As a preemptive measure, even organizations that didn't have a security incident cut off external emails and increased screening of incoming emails in October after hackers hit six hospitals with ransomware in 24 hours.
The attacks emphasized the importance of strong cybersecurity and investment in secure data storage. IT teams will need to effectively communicate good cyber hygiene to staff members to prevent attacks and troubleshoot vulnerabilities as more work goes permanently remote. In 2021, it won't be surprising to see more health systems investing in cybersecurity technology and talent as a top priority and planning for cyberattacks as a "when" and not "if" scenario.
3. Telehealth and remote care expansion. While CMS and big payers relaxed regulations on telehealth to help providers continue safely offering care during the pandemic, hospitals and health systems will continue addressing how to incorporate virtual care as part of their long-term care strategy after the public health emergency ends.
The pandemic also has accelerated advances in remote managed care both for patients with chronic conditions as well as those who have COVID-19 but don't need to be hospitalized. These developments have signaled a shift to a hybrid care model, which will replace mostly in-person visits with a combination of both telehealth and in-person visits for services ranging from follow-ups to urgent care.
4. EHRs evolving with new capabilities. As digital voice assistants like Amazon Alexa and Google Home have secured a place in consumers' living rooms, hospitals and health systems are inviting similar technologies into patient rooms. With tech developments increasingly focused on natural language processing and ambient listening capabilities, EHR vendors Epic and Cerner both inked deals to integrate Nuance's virtual assistant in their software this year, and Epic is working on its own ambient voice tech called Hey Epic!
AI startup Saykara launched a new voice assistant this year that operates both ambiently and autonomously, so it can listen to and understand the context of a patient-physician conversation without being prompted by voice commands. The company counts New York City-based NewYork-Presbyterian's innovation arm as an investor, and Seattle-based Swedish Medical Group is a customer.
5. Blossoming of artificial intelligence and machine learning in healthcare. AI is not new in healthcare. Organizations have used artificial intelligence and machine learning in hospital administration and operations for years, specifically in the revenue cycle process. Before the pandemic, researchers began testing AI models to read medical images, yielding mixed results and leaving some wondering whether AI and machine learning would live up to the hype.
But in the last year AI became crucial in developing predictive models for COVID-19 cases spreading across the country. Academic institutions and health systems, including New York City-based Mount Sinai; Baltimore-based Johns Hopkins; Rochester, Minn.-based Mayo Clinic; and University of California-Irvine developed predictive tools and models to track the virus and estimate the risk of COVID-19 patients developing severe symptoms. The field will continue to evolve and become more integrated with clinical care in the coming years.
"A combination of wearables and other biomedical devices, combined with machine learning and artificial intelligence will continue to transform clinical research, treatment protocols and increase the virtual care capabilities of health providers," Eric Yablanka, CIO and associate dean of technology and digital solutions at Stanford Health Care and School of Medicine in Palo Alto, Calif., told Becker's in a September interview. "This will challenge traditional healthcare organizations to compete with emerging retail and virtual providers in ways we have not experienced before. It will also enable healthcare delivery science and bring data scientists to the forefront of improving patient care outcomes."
6. Big data management becomes a need. The digital transformation among health systems was well underway when 2020 began, and the pandemic underscored the need for centralized and efficient data management. Data-gathering and reporting efforts sped up during the pandemic, and even small organizations are eyeing cloud implementations to securely store and coordinate data. Microsoft, Amazon and Google all have healthcare-specific clouds.
For academic medical centers, the stakes are higher, as secure research becomes a larger priority.
"I really think investment in our cloud-based research platforms around high performance computing, artificial intelligence and the machine learning toolkits and integrating them back into our EHR is really key," said Michael Pfeffer, MD, assistant vice chancellor and CIO of UCLA Health during an interview on the Becker's Healthcare Podcast. "We are continuing to invest heavily in that, from a cost and resource standpoint. We are incorporating our EHR data with genomics data and other kinds of data, such as real-time wait forms and radiological images.
"All of these things are so critical to our research mission and improving patient care - that translational aspect of taking research-derived algorithms or other type of technologies and applying that into the operations and patient care-delivery aspects of what we do - that is a real area of investment for 2021."
7. Predictive analytics moves to the forefront. The accelerated digital transformation in 2020 means more health systems now have the technical capabilities to practice precision medicine and inch closer to predictive analytics. Mount Sinai Health System in New York City created machine learning-powered models to identify high risk and likelihood of mortality among COVID-19 patients for more efficient patient management.
Pittsburgh-based UPMC has been on the forefront of using data analytics with its clinical data warehouse that provides insights to clinicians and patients. The health system continuously improves upon their system by layering on new tools, such as artificial intelligence and machine learning, bringing them closer to predictive analytics.
"The use of analytical insights in the healthcare industry is very reactive," said Ed McCallister, senior vice president and CIO of UPMC in an interview with Becker's. "In the future, we envision that the analytic insights will evolve to be used at the bedside during the point of care. We also envision that analytics will enable us to proactively manage care and our patient population to keep them out of the hospital and healthy. We are already doing this today in some parts of UPMC and hope to expand this to all clinical departments and service lines."
8. EHR advances: Interoperability, standardization and the cloud. This year helped pave the way for advancements in EHR interoperability and standardization, with HHS' finalization of its interoperability rules to innovations spurred by the need for record sharing during the pandemic. With the federal government's new regulations, which aim to help patients gain better control of their health data via smartphone apps, interoperability is expected to increase between providers, payers and health tech developers.
In November, Google launched its new healthcare interoperability readiness program to help healthcare organizations navigate and prepare for the new changes, and EHR giant Epic reported a sharp uptick in the number of patient records transferred between providers using its Care Everywhere interoperability platform; more than 221 million patient records were shared in November - a 40 percent increase year over year. More hospitals and health systems are also making the transition to cloud platforms and partnering with big tech giants, including Microsoft, Amazon and Google, to host their EHRs and information systems to offer real-time data insights and more storage solutions.
9. Digital front door and the digitization of the consumer experience. The pandemic ushered in a newfound era of social distancing, which has forced healthcare organizations to ramp up their digital presence and capabilities to stay connected to patients. With the "digital front door," serving as the first impression potential patients have of a health system, online experience has become a critical component of their overall reputation.
As hospitals and health systems look to the future, many, such as Greensboro, N.C.-based Cone Health and SCL Health in Broomfield, Colo., are investing in a digital front door, which includes the organization's website and mobile apps that host the online patient portal, scheduling, telehealth visits and educational resources.
10. Clinical IT advancements. Augmented reality, wearable technologies and IoT devices in clinical care are steadily advancing within the hospital's four walls. With COVID-19 limiting direct contact, health systems have turned to robotics for tasks from facilitating video chat communications for patients to virtual reality headsets that display a clinician's first-person point of view from inside patient rooms remotely to the rest of the care team.
Robotic surgery developments are expected to continue across the healthcare system, in areas including spine, cardiology and oncology. In October, a surgical team at St. Elizabeth Edgewood (Ky.) Hospital became the first hospital in the U.S. to implant a Bluetooth-connected cardiac defibrillator, which can wirelessly pair with a smartphone app for patients to control. By 2025, the global medical robots market is expected to reach $12.7 billion, up from about $5.9 billion in 2020.
10 emerging trends in health IT for 2021
Healthcare Trends
From the article: 10 emerging trends in health IT for 2021 published in beckershospitalreview.com:Health IT adoption skyrocketed in 2020 as ...
5 Professional Services trends to watch out for
5 Professional Services trends to watch out for
Article Published in Saxiom.com and updated on March 18, 2021
From the article, "5 Professional Services Trends to Watch Out for" published in Saxom.com:The technology-tycoon Bill Gates has once said, ...
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From the article, "5 Professional Services Trends to Watch Out for" published in Saxom.com:The technology-tycoon Bill Gates has once said, 'IT and business are becoming inextricably interwoven. I don't think one can talk meaningfully about one without talking about the other.'The business industry has seen a massive transformation in terms of work culture, management practices, skill requirements, and so on over the past decade. Technology is the major propeller behind these reinventions. It has empowered and enabled businesses to expand their horizons.For example, telepresence has facilitated employers to recruit from beyond geographical peripheries. The second major example is Automation. It has eliminated the need to spend countless hours on mundane admin work. Employees can now focus and spend time on human-specific business work that demands critical thinking. The list of these instances is endless.One of the major industries that have seen a paradigm shift is the Professional Services Industry.With ever-evolving market trends, there is a radical shift in customer demands, business models, and the way services are delivered to the clients.It's time for decision-makers to accept and adopt these trends to stay relevant in the long haul.1. What are professional services?Professional services encompass a plethora of occupations that extend support to businesses in the form of consulting, advice, or by performing other tertiary roles.Some of the key services include:Law- Providing legal assistance to the firms to ensure they adhere to the current laws and regulations.Audit & Accounting- Reviewing and assessing financial accounts to ascertain the legality of their financial records.Consulting- Working coherently with the organization to help them maximize their operational efficiencyFinancial advisory- Helping the decision-makers to make sound investments and secure their financesActuarial Science- Predicting and evaluating future financial risks using statistical modelsThe reason behind taking external help from these services is their professional expertise, business acumen, and years of experience. Thus, to keep serving the organizations to the best of their abilities, every professional services firm has to keep up with the trends and adopt a core strategy that aligns with the ever-evolving market.2. Re-evaluate the core strategy to align with the new normsThe two paramount characteristics that set the professional service firm apart from other business are:The bespoke service they offer to every client regardless of the tools and models used.The underlying nature of cultivating and fostering long-lasting client relationships.In order to maintain the competitive edge, it's imperative to walk along with the new norms that are redefining your industry. For instance, you cannot compete in a technology-driven market with silos of data and legacy tools. You need to equip the advanced and robust software to provide automated delivery and more-accurate insights to the clients.The new norms that are driven by technology and other factors demand a more agile, value-driven, and tech-enabled firm. Thus one has to focus on the proactive and targeted transformation of their core strategy to increase sustainability.These innovative trends that are compelling you to redefine your strategy can be categorized into two sections:Business-centricThe emergence of Automation and Artificial IntelligenceIncrease in globalization and virtual officesA value-driven revenue modelEmployee-centricRecruitment of hybrid talent to fill the skill gapsA tech-enabled work-culture to enhance team engagementHere is a description of each one of these in detail:The trends that will transform the PS industryBusiness-centric trendsAccording to a report by Mckinsey, a leading bank automated about 900 of its back-end operations to relieve 50% of its full-time employees from their admin tasks. Some of these employees were successfully deployed in other meaningful activities within the bank to increase overall productivity.3.3 A value-driven revenue modelProfessional services like Audit & Accounting charge the client on an hourly basis. This billing model does not consider the value generated out of each task. For example, an hour of billable work is leading to 10% of tax savings for the client. However, you are still invoicing the client based on the employee's charge out rate rather than on the task's value.This reduces the profit margins for professional services firms and the clients fail to see the benefits of the overall project. To change this, firms are now opting for a value-driven revenue model that will bill the client based on the benefits and profits they make during the course of the project.A client will now pay for the overall gains such as tax savings, ROIs, insurance claims, and so on. This shift from time-driven to the value-driven model allows PS firms to get more clients and increase their profitability. Furthermore, these tools provide real-time visibility of resource schedules and their utilization levels. Managers can leverage this and optimize resource allocation thereby preventing employee burnout.3.5 A tech-enabled work-culture to enhance team engagementTeam engagement is critical to driving business to success. According to Forbes, highly engaged teams show 21% greater profitability. Encouraging team engagement is easy when you are working in co-located offices. However, it becomes a challenge when your team is distributed across different locations.With the advent of highly-advanced collaboration tools and companies investing to foster a tech-enabled work culture, employees can communicate and share important information in real-time. This enhances team engagement and allows quick problem-solving.Moreover, when teams are connected, their productivity increases and gives better results. Professional services firms are therefore indulging in building a tech-enabled work environment that will strengthen their employee's morale and improve performance.Conclusion- The future of Professional Services
The growing trends and technology have provided a historic opportunity for the professional services industry to pivot and change the nature of business.
If the firms adapt to these evolutions, how will the future face of PS look like?
The project-delivery will be more efficient, accurate, and data-driven. The client-engagement will grow leaps and bounds in the presence of advanced collaboration tools. The ease of sharing real-time data will escalate and simplify performance tracking.
Business Intelligence will provide comprehensive reports on varied project metrics that will allow you to predict and plan in advance. In addition to this, automation will improve the productive utilization of resources to a great extent.
Overall, the ever-evolving trends will disrupt and change the face of the professional services industry.
Are you ready to evolve and grow along with them?
5 Professional Services trends to watch out for
Professional Services Trends
From the article, "5 Professional Services Trends to Watch Out for" published in Saxom.com:The technology-tycoon Bill Gates has once said, 'IT and ...
13 Big Retail Tech Trends To Watch For In 2021
13 Big Retail Tech Trends To Watch For In 2021
Article posted in Forbes.com on March 8, 2021
From the Forbes Technology Council post in Forbes.com entitled: 13 Big Retail Tech Trends to Watch For in 2021While e-commerce has been on ...
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13 Big Retail Tech Trends To Watch For In 2021
Retail Trends
From the Forbes Technology Council post in Forbes.com entitled: 13 Big Retail Tech Trends to Watch For in 2021While e-commerce has been on the rise ...
5 State and Local Government IT Trends to Watch...
5 State and Local Government IT Trends to Watch...
Published in State Tech Magazine on December 17, 2020
From the article, 5 State and Local Government IT Trends to Watch in 2021 published in the State Tech online magazine by author Phil ...
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5 State and Local Government IT Trends to Watch in 2021
Government Trends
From the article, 5 State and Local Government IT Trends to Watch in 2021 published in the State Tech online magazine by author Phil ...
Technology Trends in Healthcare Today
Technology Trends in Healthcare Today
Article from HealthTechZone.com published on October 20, 2020
From the article: Technology Trends in Healthcare Today published in healthtechzone.com:Rapid technological progress has created new tools ...
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From the article: Technology Trends in Healthcare Today published in healthtechzone.com:Rapid technological progress has created new tools for diagnostics and treatment. Medical professionals use methods that were inconceivable decades ago. Discover the main trends in the field in 2020.
Healthcare is increasingly digitized. Hospital information systems and data engines allow the quick sharing of information. Innovations also include solutions for remote medical care and rising health awareness. There are more examples of Intellectsoft healthcare software solutions as developers are constantly working on novelties. Here are the main avenues of progress today.
1.Telemedicine: Distance Is No Obstacle
Remote technologies have revolutionized healthcare in the United States. Their adoption has been transformative. It helps patients who have limited access to providers and long wait times. The latter is particularly common in underserved areas. Gain easier access to specialists, and the quality of diagnosing and treatment increases. As data is stored electronically, documents may be easily forwarded to the right expert.
2.The Internet of Medical Things
Today, chronic diseases may be tracked and prevented using different devices and mobile apps. Tech advances have given rise to a new phenomenon - the Internet of Medical Things. Patients can use different wearable devices, such as ECG and EKG monitors. Gadgets measure skin temperature, blood pressure, glucose levels, and more.
As a result, everything from patient experience to profits has improved. It is expected that the market for such devices will reach $136 billion by 2021. Given recent novelties like the smart pill, the potential for growth is immense.
3.Cloud Storage Systems
Large files are now stored and shared via different cloud-based platforms. These may be classified as public, private, or hybrid. The solutions provide efficient access to the necessary data for both patients and medical professionals. The quality of consultations is also improved.
4.AR and VR
Augmented reality and virtual reality have found their application in the healthcare field. Now, students are educated using special headsets. This enriches their experience and allows training in a realistic environment.
Virtual reality is also useful for patients with motor dysfunctions that result from a stroke. In comparison with physical therapy, digital worlds allow more diverse interactions. This means such patients can regain control of their bodies faster. Patients with cognitive impairments like dementia can unlock memories more easily and feel better emotionally.
5.Artificial Intelligence
Innovative machines enhanced with artificial intelligence facilitate decision-making. They make the diagnostic process faster and more accurate. New algorithms are also used in drug development, as they demonstrate chemical and biological interactions. This accelerates the creation of effective medicines.
Take the AI-based system for eye disease diagnostics, the first diagnostic device of this kind. It works by analyzing photographs of the patient's retina. The algorithm detects diabetic retinopathy with impressive accuracy.
6.On-demand Healthcare
Now, more and more patients prefer to have their own schedule for healthcare services. Busy professionals expect flexibility from providers, as we have become more mobile in recent years. Another driver is the expansion of the gig economy. Fewer people tether themselves to a single company.
As a result, companies like Nomad Health have emerged. This is a digital marketplace connecting physicians with medical facilities for short-term work. On the one hand, doctors can easily find projects matching their schedules, talents, and expertise. On the other hand, patients can find on-demand providers.
A Look Ahead
All these new methods of work clearly bring benefits to experts and patients. Internet-based gadgets, AI, and virtual reality are only some of the latest innovations. Tech advancement never stops. The quality of medical services is incessantly improving, and more exciting changes are yet to come.
Technology Trends in Healthcare Today
Healthcare Trends
From the article: Technology Trends in Healthcare Today published in healthtechzone.com:Rapid technological progress has created new tools for ...
Top Educational Technology Trends In 2020-2021
Top Educational Technology Trends In 2020-2021
Article from elearningindustry.com published on November 19, 2020
From the article published in elearningindustry.com: Top Educational Technology Trends in 2020-2021 COVID-19 has changed the way we teach ...
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Top Educational Technology Trends In 2020-2021
School and College Trends
From the article published in elearningindustry.com: Top Educational Technology Trends in 2020-2021 COVID-19 has changed the way we teach and learn. ...
2021 Brings Commercial Real Estate Opportunities
2021 Brings Commercial Real Estate Opportunities
Published on January 5, 2021 by JP Morgan Chase
AL BROOKS, HEAD OF COMMERCIAL REAL ESTATE, COMMERCIAL BANKING posted this article: 2021 Brings Commercial Real Estate OpportunitiesThe ...
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AL BROOKS, HEAD OF COMMERCIAL REAL ESTATE, COMMERCIAL BANKING posted this article: 2021 Brings Commercial Real Estate OpportunitiesThe year 2020 was unlike any other, primarily because of the COVID-19 pandemic. The virus is likely to affect commercial real estate (CRE) throughout 2021 and beyond.Some asset classes are seeing more negative impacts. "Continuing uncertainty about the pandemic froze transaction deal volume in 2020 and put significant pressure on property types like hotel and retail," said Victor Calanog, Head of CRE Economics for Moody's Analytics REIS.Other property types' performance metrics are holding relatively steady, but Calanog noted that "there is often a lag when economic distress manifests in rent and occupancy declines."Let's take a look at the trends and opportunities you may want to keep in mind for 2021.
Macro Consumer Trends to Watch
Retail RevampedThe shift from brick-and-mortar retail stores to e-commerce has only accelerated during the pandemic, increasing the need for industrial and last-mile logistics facilities. In the third quarter of 2020, e-commerce comprised 14.3 percent of total retail sales, compared to 11.8 percent in the first quarter.1 The crisis forced consumers to change their shopping habits. And with more online retail options for groceries, electronics, medication and more, this increase will likely be permanent.
A Tale of Two Shopping CentersGenerally, grocery store-anchored shopping centers have remained stable-people still need to buy food during a pandemic-but traditional malls have suffered. Some major retailers and mall operators have filed for bankruptcy, and their woes are likely to continue as e-commerce expands. Cities may benefit from rezoning these properties into other allowed uses, such as residential.
A Return to Urban Apartments and OfficesAt the beginning of the pandemic we expected a potential long-term exodus from cities to the suburbs. As we've seen, many jobs can be done remotely. However, most employees still benefit from working on-site with their co-workers. This is especially true for young employees beginning their careers, many of whom moved in with their suburban families to save money. It's hard to learn the ropes, bounce ideas off colleagues or find a mentor from your laptop at home. Because major companies are often located in urban areas, employees-especially younger workers-may return to the city quickly as offices reopen.
The Need for Affordable HousingThe pandemic and its corresponding economic downturn brought renewed attention to the affordable housing crisis. Although measures to preserve current affordable housing via eviction moratoriums and rent control vary from city to city, they are important. But we must do more to reduce the growing homeless population. That means rethinking how we build affordable housing to decrease construction costs. Modular design can play a beneficial role, as can public-private partnerships. We should also consider constructing more buildings with a mix of affordable and moderate-income tenants.
Rent Payments Remain High OverallRent collection statistics-with the exception of several malls-appear steady so far for high-quality assets across property types, with distress appearing idiosyncratic, related to specific tenants and how their business was impacted by the pandemic," Calanog said.The National Multifamily Housing Council's Rent Payment Tracker found 93.6 percent of apartment households made a full or partial rent payment by the end of November 2020, a slight decrease from the 95.2 percent paid in November 2019 and similar to previous months 2. Increased unemployment benefits, Economic Impact Payments and other legislation passed in response to the pandemic may have played an important role in keeping these rent payment percentages high. Opportunities Ahead
As with any economic downturn, investment opportunities arise."High-quality multifamily assets remain viable, and affordable housing performance metrics are rock-solid-with vacancies barely budging and national rents continuing to rise every quarter. The boost in e-commerce activity appears to be benefiting logistics and life science industrial properties," Calanog said.Beyond specific asset classes, we believe these trends may also pick up steam in 2021:Properties with new purposes: Once COVID-19 hit, our homes became our offices, schools and gyms. Why not rethink the way other properties are used? While some traditional malls, for example, have been converted to warehouses, there are many more that can be repurposed. Traditional malls can also become affordable and workforce housing. Likewise, hotels can serve as extended-stay lodging or quiet office space for people working remotely throughout the pandemic; in the future, they could be repurposed as affordable housing.Sustainability makes sense economically: The country is quickly moving toward alternative energy. One study published in Energy & Environmental Science predicts that 80 percent to 85 percent of the US will run on alternative energy by 2030. The cost of going green is also dropping. Lawrence Berkeley National Laboratory's 2020 Utility-Scale Solar Data Update showed that the median installed cost of projects in 2019 was down 20 percent from 2018 and down by more than 70 percent from 2010.Technology on the rise: Overall, the commercial real estate industry has been slow to adopt digital solutions. But simplifying property management can reduce staff time and costs, provide more payment alternatives, and decrease payment times-all of which can help your bottom line. It's time for the industry to embrace and integrate technology with digital treasury solutions, rent payments and vendor invoicing.
Tackling the Upcoming Year
The COVID-19 pandemic highlighted the affordable housing crisis and accelerated the growth of e-commerce, trends that will carry over into 2021. As remote work continues, you should focus on keeping your resiliency protocols and internal controls high while looking toward future opportunities.
2021 Brings Commercial Real Estate Opportunities
Commercial Real Estate Trends
AL BROOKS, HEAD OF COMMERCIAL REAL ESTATE, COMMERCIAL BANKING posted this article: 2021 Brings Commercial Real Estate OpportunitiesThe year 2020 was ...
2021 commercial real estate outlook
2021 commercial real estate outlook
Article published by Deloitte Insights on December 3, 2020
In the article, "Rebuilding to Enhance Resilience", Jim Berry and Kathy Faucht surveyed 200 industry leaders to see how these companies are ...
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In the article, "Rebuilding to Enhance Resilience", Jim Berry and Kathy Faucht surveyed 200 industry leaders to see how these companies are recovering from the Covid Pandemic. Here is the section of the report focused on how commercial real estate companies are using digital transformation in the recovery processTechnology: Digital transformation and tenant experience are a business imperative
COVID-19 accelerated the use of technology in the CRE industry. In a matter of weeks, most of the CRE workforce moved to remote work, property tours turned virtual, most tenant communication converted to online channels, and more technology was required to manage day-to-day operations.9 Some CRE companies also increased their use of cloud-based collaboration and productivity tools to lower in-house technology costs and increase flexibility.10
While these measures may help improve tenant convenience and ensure business continuity, CRE companies still struggle with defining digital workflows and digitizing key business processes.11 Most respondents (56%) believe the pandemic has uncovered shortcomings in their company's digital capabilities and affected their plans to transform (figure 2). Additionally, there are growing cybersecurity and data privacy concerns among those surveyed, due to the increase in virtualization, data capture, and data-sharing using cloud and digital tools.
Balancing tactical and strategic actions
The pandemic has made enhancing agility and nimbleness a top priority for CRE organizations. These goals require companies to focus on digitization of key CRE business processes and the tenant experience. And while many CRE companies have taken a reactive approach to digital transformation, developing a more structured plan, including the implementation of various technologies and data analytics, would likely yield more meaningful results. Along with this, to enhance resilience, companies should double down on their cybersecurity and data privacy investments.
Developing the digital strategy and road map
According to our survey, many companies plan to accelerate digital transformation, yet only 40% of respondents said their company has a defined digital transformation road map. North American respondents report their companies are farther ahead than their European and APAC counterparts (figure 3): Fifty-three percent of respondents that have a defined digital transformation roadmap consider digital tenant experience a core competency. Further, 47% of European respondents and 44% of APAC respondents, compared to 32% of North American respondents, have started redefining business processes, job roles, and skill requirements to embed the use of technology and tools.
CRE companies should assess their digital maturity by reviewing existing capabilities. This could include evaluating the maturity level of technology usage for managing operations, elevating tenant experience, and developing tech talent. Based on this assessment and considering the business vision, CRE leaders should develop a digital strategy that focuses on technologies and initiatives that deliver strategic value. Thereafter, companies should frame the execution plan to work on key initiatives for digital transformation and ensure the transformation team has the right talent and governance structure to implement the digital solutions. Governance structure should focus on effectively managing transformation programs and encouraging innovation.Companies should increase investment in technologies that can serve as building blocks of their digital transformation efforts. However, on average, only 45% of respondents plan to increase their investments in cloud, robotic process automation (RPA), artificial intelligence (AI), and digital channels over the next 12 months (figure 4).Companies can significantly increase tenant engagement by optimizing real-time updates about facilities and developing a sense of community using mobile apps. About one-half (48%) of respondents who said their company is using digital technologies, such as interactive mobile apps, to increase communication with tenants or end users, plan to increase investment on digital channels over the next year. Cloud technology could be the backbone for many new capabilities as it offers scalability, data storage, and ubiquitous access. For instance, companies can leverage cloud-based tools for digital marketing and to connect virtually with tenants to build a digital tenant experience.
To expedite implementation of a digital transformation road map, CRE companies should look for strategic partnerships with technology providers or proptechs. REIT respondents seem to acknowledge this and are being more open to collaborating with proptechs. On an average, 58% of REIT respondents have increased their intent to partner, compared to 45% of respondents who are developers.
Leverage tenant data and analytics
More than three-fifths of companies acknowledge that they are capturing Internet of Things (IoT) sensor data. With more organizations and end users making data-backed decisions, sharing relevant property-related data could help companies build trust and increase tenant/end-user engagement. This might be a great opportunity for organizations: Currently, 49% of respondents share data with tenants (figure 5).
Next, companies could use different analytical tools to generate insights and facilitate decision-making. Now more than ever, CRE companies need to capture and analyze high-frequency data to create a meaningful tenant experience. This could include data around how tenants use different amenities, and/or engagement and performance levels. Companies can analyze tenant engagement levels and behavior to understand preferences and provide a more customized experience. For instance, owners/operators can combine and analyze the occupancy, movement, and temperature sensor data and assist tenants in creating COVID-19-safe seating and space utilization decisions. They can also use tenant data to predict lease renewals and devise appropriate strategies for tenant retention.12 APAC companies seem to have a higher focus on data analytics: Fifty-eight percent of APAC respondents expect their companies to increase investment on data analytics in the next year, compared to only 32% of European respondents and 34% of North American respondents.
Better data analytics can also build the confidence of investors who are increasingly looking at leveraging alternative data for insight generation and decision-making. Fifty-seven percent of private equity/hedge fund/mutual fund respondents said they are likely or very likely to identify new alternative data sets for insight generation and facilitating investment decisions.Bolster cybersecurity and data privacyCyberthreats are increasing in sophistication and widening the vulnerabilities of CRE companies, potentially exposing them to enterprise or tenant data breach and ransomware attacks. Ransomware attacks continue to increase and are rated as a key cyberthreat for REITs.13 Companies should first assess whether current efforts are sufficient; if they aren't, they should upgrade their cybersecurity programs to have greater control over both internal and external information flows.14 In particular, they should assess potential cyberthreats from using new cloud-based communication and collaboration tools. Companies should adopt a "security-by-design" approach in which customized controls are built into new solutions. This could include role-based identity and access management, network admission controls, and integration with existing enterprise security architecture.15 To avoid data privacy issues, companies should make sure that any information is captured by consent and stored securely. For instance, while implementing facial recognition technology at its properties, Vornado provided an opt-out option and invested in secured data storage.16
2021 commercial real estate outlook
Commercial Real Estate Trends
In the article, "Rebuilding to Enhance Resilience", Jim Berry and Kathy Faucht surveyed 200 industry leaders to see how these companies are ...
Precious time and the software to make the most...
Precious time and the software to make the most...
Article on February 17, 2021 - National Restaurant Association
From the article published in the National Restaurant Association website on technology and innovation entitled: Precious time and the ...
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From the article published in the National Restaurant Association website on technology and innovation entitled: Precious time and the software to make the most of it when scheduling employees
As every operator knows, labor hours are one of the biggest costs in the business, usually accounting for 25%-35% of all restaurant expenditures. And the complexity of managing workers' time inputs-keeping track of hours worked and breaks taken, scheduling shifts, approving paid time off and translating all of that into accurate paychecks-can swallow a lot of a manager's time, too.
Software available today can greatly simplify time management tasks, improve accuracy and regulatory compliance, and help you understand and rein in out-of-control labor costs to improve your bottom line. Here are some attributes you will want to consider when you're shopping for an employee time-management program and vendor.
Easier scheduling. Managers know that scheduling shifts is like putting together a 3-D jigsaw puzzle, with multiple layers comprised of time-off and shift-trade requests, changes in hours and the effect of those changes on PTO and overtime calculations. Look for a system with drag-and-drop technology, as well as one that can automatically recalculate the payroll reporting caused with each drag-and-drop change. It's also important to give employees access to a linked mobile app so they can see schedules, look for open shifts or request changes in their shifts.
Intuitive time tracking. Forget the old-time punch clocks and cards that can be easy to game. Look for a system that supports both pin-punch and iPad clock-ins and clock-outs (at beginning and end of shifts and for breaks). Integrated facial recognition software removes the temptation to punch in for a buddy who's running late, and GPS-enabled geofencing can prevent check-ins from off site.
Simplified tracking of time off. A good time-management software system can be aligned to your own company's rules for paid time off as well as state mandates and regulations, and will alert you when an employee is approaching "full-time worker" status. Managers and employees alike should be able to easily check hours earned, used and available for use. Look for a system that also allows workers to use their mobile app to request time off, and to see immediately whether the manager has approved or declined the request.
Integration with other restaurant management software. Most restaurants use multiple vendors to manage back-office operations. If yours is one of them, you'll want to make sure your time management software can sync with your POS and payroll software so shift scheduling is based on predicted traffic and sales, and time tallies are correctly translated into paychecks. But there are advantages to migrating to a single integrated solution that requires a single log-on and seamlessly transfers data from one application to another, either automatically or with a single click.
Customer support from the vendor. A good restaurant management program is more than software. Make sure the software is backed up by a customer support team of real, knowledgeable people, available by phone or online to answer questions during restaurant-friendly hours
Precious time and the software to make the most of it when scheduling employees
Restaurant Trends
From the article published in the National Restaurant Association website on technology and innovation entitled: Precious time and the software to ...
Innovating during a pandemic: Shari's taps...
Innovating during a pandemic: Shari's taps...
Article on April 2, 2021 - National Restaurant Association
Shari's boosted sales through outdoor dining, emphasis on comfort, plus a virtual burger brand and pie-of-the-month program. Innovating ...
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Innovating during a pandemic: Shari's taps today's trends
Restaurant Trends
Shari's boosted sales through outdoor dining, emphasis on comfort, plus a virtual burger brand and pie-of-the-month program. Innovating during a ...
New normal inspires new innovations in restaurant...
New normal inspires new innovations in restaurant...
Article posted by the National Restaurant Association October 12, 2020
Tech adopters, active safety managers, and creative thinkers prove there are ways to push through the pandemic.Due to COVID-19, the ...
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Tech adopters, active safety managers, and creative thinkers prove there are ways to push through the pandemic.Due to COVID-19, the restaurant industry has seen more change in the last six months than in the last ten years according to Tama Looney, Brand Analytics & Customer Engagement Executive with Xenial, who has been in the restaurant industry for a decade and in the consumer insights and analytic industry for over 20. "Anything to maintain revenue during this time is important," says Looney, "as well as making sure your service model is as safe as it can be for the customer and your employees so they feel comfortable coming back to you again and again."
After doing scores of surveys, scouring restaurant industry news, and visiting restaurants in person, Looney has seen the industry quickly respond to the coronavirus pandemic to create socially safe restaurants by:
Offering contactless paymentRequiring employees to wear masksProviding sanitation stationsMaking sure there's visible evidence that surfaces are being continually sanitized and wiped downClosing down areas where people congregateProviding kiosks and apps for contactless orderingClearly communicating about any new precautions in place
"As a customer, I want to feel comfortable and confident that your business is taking the precautions necessary to keep me and my family safe so that I can continue to grab food as well as have the normalcy that I'm looking for from a brand," she says.
Fast responders succeed
Looking back, she's noticed that the restaurants who have outlasted this unprecedented challenge were early adopters of technology in their operations. "Maybe they had an inventory management system that tied to their digital menu boards," she says. "So, when the supply chain was disrupted and they ran out of tomatoes, they could easily swipe anything that had tomatoes to clear it from their digital menus."
She's also seen double-digit growth in consumers' use of mobile apps to facilitate ordering, paying, delivery and pick-up. Pre-COVID-19, she says, consumers had app fatigue and were hesitant to download yet another app on their phones.
"Now there are progressive web apps, called PWAs, that look exactly like a mobile app but you don't have to actually download something through the app store," she says. "And they don't take up as much space on your phone." (PWA's are both searchable through and run through the browser vs. downloading the app through an app store; once saved to the home screen, it looks and functions just like a native app from the app store.)
Creativity abounds
What's more, she believes the pandemic has really shined a light on the entrepreneurial spirit of restaurant owners. "I admire the innovation that has come out of this," she says noting the emergence of pop-up restaurants in parking lots and expanded five-lane drive-thrus attended by staffers with iPads.
"In five months, I expect we will have 20 new things to talk about because restaurants are always innovating. All it takes is an infusion of technology into the space to really help each and every one of us to feel normal again when dining out."
New normal inspires new innovations in restaurant industry
Restaurant Trends
Tech adopters, active safety managers, and creative thinkers prove there are ways to push through the pandemic.Due to COVID-19, the restaurant ...
How Tech Helps Restaurants Prep for the Future
How Tech Helps Restaurants Prep for the Future
Article on March 23, 2021 - National Restaurant Association
From the article published in the National Restaurant Association website on technology and innovation entitled: How tech helps ...
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How Tech Helps Restaurants Prep for the Future
Restaurant Trends
From the article published in the National Restaurant Association website on technology and innovation entitled: How tech helps restaurants prep for ...
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