More than half of the world’s population now lives in urban areas, many of them in very dense cities. This transition has transformed the way we live, work, travel and network.
As the majority of major cities around the world grow, the facility management industry is surprisingly plagued with a lot of inefficiencies. Property management and service management are now offered as two separate services with different providers and prices. Existing solutions are designed from a building-centric perspective rather than a customer-centric one, resulting in inefficiencies and inconvenience for residents.
The PropTech market offers many vertical solutions, but the main problem is that these solutions do not integrate with each other.
According to the KPMG Global PropTech Survey, 97% of all facility and property managers say maintaining high tenant satisfaction is a top priority, while 61% of property companies believe that an investment technology today will have a positive impact on their income for years to come. $24 trillion in assets are still managed using disconnected systems and printed spreadsheets, an incomprehensible reality in 2021. The most exciting benefit associated with integrating the PropTech solution is the vast improvement retention of tenants.
In a field plagued by poor quality of service and general dissatisfaction, MyTower was born, allowing its customers to effectively manage their property with complete transparency and control, while saving almost 50% on their operational costs. MyTower introduces a first-of-its-kind, user-centric property management solution to the PropTech market: the AppConnect platform connects to a wide range of APIs and app integrations to help automate, organize and efficiently manage a smart property solution from one, easy-to-use control panel.
With a combination of AI and IoT in the day-to-day operation of property management, MyTower offers countless solutions that are easily adapted and integrated to fit existing business workflow and needs. It handles everything from proactive and preventative maintenance to managing finances and leases and overseeing employees and attendance.
“The MyTower platform enables customers to move into the IoB era and enjoy connected and adaptive ownership,” says MyTower CEO Pini Shemesh. “Smart property is engaged and aware of itself. It connects to utilities (water, gas, electricity, etc.), tenants, suppliers and other buildings. Connected real estate enables synergy between online and offline solutions and integrates centralized and decentralized networks.Smart buildings become multifunctional and have modular systems that can be personalized according to user behavior and predefined needs, improving the well-being of people and communities. , the most important goal is to satisfy tenants and exceed their expectations.”
Another factor that sets MyTower apart from competing property management platform solutions on the market is its efficiency: “The IoB revolution reduces costs while improving functionality. Optimized use of resources helps tenants and protects the environment we all share. Smart buildings are better prepared for emergencies and malfunctions and can trade and share resources with other assets. Their performance is easily measured and tracked,” says Shemesh. The above benefits happen smoothly and automatically. Advanced machine learning algorithms study the property and its residents, becoming better and more sophisticated at predicting needs based on user feedback and aggregated data.
MyTower’s solution enables facility managers to identify underutilized and underperforming facilities, assets, processes and resources, and help improve facility assets. The company’s impact on property management includes reducing operational costs by up to 50% as well as increasing profits by adding new revenue channels. It also benefits from an improvement in the return on investment of the life cycle of the property up to 25%.
Gindi, one of the leading real estate developers in Israel today, was the first to understand the new needs of residents of luxury towers in Israel. When the “Gindi TLV” project appeared on the drawing board, it was clear to the company that it was not just about building apartments. It was about building homes and infrastructure for a community. This infrastructure was based on the unique combination of services for residents of the project, which includes, in addition to residential towers, a spacious shopping center, concierge services, a community country club and common areas.
Tower tenants benefit from the My TLV app, a customized white-label version of the MyTower app, where tenants can receive updates on what’s happening in the building, pay expenses, contact the company management, receive deliveries and enjoy a range of product benefits and discounts from a wide range of management-contracted vendors. They can also correspond directly with their neighbors via the app, book a machine at the gym and can even take advantage of concierge services at the touch of a button. “We have been very excited about the customer love MyTower has generated to date. Buildings that use MyTower are not only run more efficiently, but also generate happier communities,” boasts Shemesh.
Additionally, it is important to highlight that the Covid-19 pandemic has introduced new challenges that facility management providers need to consider. “Landlords and landlords must protect the health and safety of tenants and staff while balancing the needs of workers and businesses,” Shemesh says. “MyTower’s platform has been updated daily to meet the needs of tenants and staff in the current pandemic situation. The solution includes other important features for property management during COVID-19: SLA, disinfection and cleaning tasks, visitor temperature screening, facial recognition including contactless door opening, room disinfection gym, pool and equipment control. »
Currently, more than 250 leading residential towers in Israel are managed by MyTower and they have also obtained a significant footprint in Poland. In 2021, the company recorded a 300% increase in revenue, ensuring a promising forecast for 2022.
Besadno Group invested in MyTower’s seed funding round in February 2019, remains one of the company’s largest shareholders and is leading the current investment round for MyTower. CEO Eli Gross said: “The new era of property management requires a fresh and fresh approach and we identified this quickly with MyTower. The PropTech market in general, and the facility management market, is booming and will continue to grow for the foreseeable future. PropTech’s development opportunity is driven not only by the sheer size of the market, but also by the limited amount of innovation to date.
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