Strategy & Innovation
Strategy & Innovation
|95%||of all domestic projects using VTS|
|50%||of all international projects using VTS|
Hines will continue to expand the number of properties using the cloud-based lease-management system VTS for lease administration. Explore additional software platforms that might support construction procurement, lease abstracting and financial analysis.
Increased the number of properties using VTS. Now, 95 percent of all domestic and 50 percent of all possible international projects have been put on VTS. Piloted and began rolling out Honest Buildings to support our construction management teams, and continued to explore automation technologies for financial analysis and lease abstracting.
Hines will explore further technologies that will enhance the firm’s business processes, including automating the connection between disparate accounting and investment-software platforms. Hines will also investigate opportunities to use building apps to enhance the experience of tenants and guests.
- Business Technology Group
- Serving New and Reemerging Industries
- A Culture of Innovation
- Urban Mobility and Open Space
Across all regions, we are growing our presence in four major product types: office, industrial/logistics, living/housing and retail. We are investing in our people and innovating in the major product types to provide our investors, partners and clients the best risk-adjusted returns and create opportunities for our growing workforce. We are continuing to evolve the market’s perception from our legacy as a trophy office tower developer to a best-in-class real estate developer across all asset classes and markets.
Hines’ Business Technology Group (BTG) is a conduit for the consideration of new systems, analytical tools, and business processes for the firm’s investment management and property management activities. The group members coordinate with Central Operations and Engineering Services, Information Technology, the Office of Innovation and regional colleagues. The BTG identifies opportunities for needs that improve internal business functions, create efficiency and further Hines’ innovation efforts.
Several pilots and successful partnerships emerged in 2017. The BTG coordinated with Hines Research and IT to enhance the firm’s performance database, and is exploring frameworks to track additional information about the lifecycle of a building. BTG successfully piloted Honest Buildings, an online project management platform for capital and tenant improvement projects that has streamlined project bidding and project workflow. BTG is also exploring opportunities in artificial intelligence and robotics to automate repeatable tasks, and to create more efficient processes around lease abstracts and budgeting.
Gerald Hines instilled a culture of entrepreneurialism and innovation when the firm was founded 60-plus years ago. As real estate changes more rapidly than ever, we are adapting existing buildings, developing new products and services, and evolving our business processes to remain a leader in the industry. Hines teams work with leading architects and designers to create fresh solutions. Our new Office of Innovation is developing tools and forums for idea sharing across regions and building partnerships to incubate new ideas and technologies that move us closer to our goals, faster. We are exploring and testing third-party applications that add value for our clients and tenants and will support more efficient reporting, AI-supported business processes, amenities enhancing occupants’ well-being, and new business models.