Revolutionising Asset Management: The Cushman & Wakefield Journey, Powered By Property Inspect

Executive Summary

Cushman & Wakefield Ireland Asset Management team, embarked on a transformative journey to revolutionise their compliance processes. Faced with fragmented systems and diverse inspection mandates, they sought a comprehensive solution to streamline workflows and enhance operational efficiency.  

After meticulous evaluation, they chose Property Inspect for its unparalleled service quality, adaptability, and seamless integration capabilities. Property Inspect responded swiftly, addressing key priorities such as base scoring methodologies and grading systems, leading to seamless onboarding and tangible improvements in compliance rates and risk mitigation efforts.

Background

Recognising the manual, costly and resource-heavy nature of its inspection efforts to date, Cushman & Wakefield approached Property Inspect for a streamlined and efficient way to simplify its inspection workflows, with an aim to bolster compliance and expand the capabilities of its internal team. It sought a partner capable of delivering an easy-to-use, integratable inspection system that can offer actionable insights to multiple teams and  stakeholders.

Through conversations at PropTech Connect 2023 and after the successful launch of their product on Cushman & Wakefield’s GetHub, Property Inspect consolidated their relationship with the company and it has now become an approved technology in the Cushman & Wakefield Global ecosystem.

“An event like PropTech Connect allows you to have an open conversation and ask the question, what are your problems? How can we solve them? And align that and map that to the solution that we have in providing that value layer.” – Steve Rad, CEO at Property Inspect

Outcomes

Property Inspect is addressing Cushman & Wakefield’s key priorities such as base scoring methodologies and implementing a grading scoring system for Meridian compliance risk management. The partnership has yielded significant outcomes, including enhanced data collection, user-friendliness, and scalability, culminating in a roll-out to one of its largest assets, Dublin Airport.

“It is our mission to make the processes of looking after property transparent, safe, and compliant for the people that live and work in them, as well as for their owners and operators to be able to deliver on that. We are really excited and passionate about going above and beyond to deliver exceptional customer success, and we are looking forward to continue working with Cushman & Wakefield on solving their intricate challenges through our software.” – Warrick Swift, Marketing Director at Property Inspect

Cushman & Wakefield manages over 8,000 units and conducts more than 2,500 inspections annually, across key locations including the Dublin Airport Central site and other commercial, retail, and residential properties. This variety of sites requires extensive inspections, ranging from Fire Risk and Investigation reports, to EHS checklists and Meridian Compliance. Through the adoption of Property Inspects solutions, Cushman & Wakefield standardised reporting to enable easy tracking of compliance rates, and they reduced inspection time from 6 hours to approximately 2 hours per inspection.

“Property Inspect has given back time to a lot of the property managers because there’s no longer that duplication. It’s not glitchy, it’s very intuitive. It’s literally plug and play for us […]. Every tenant is getting a picture of their door on the front of the report, and it just looks really nice. It’s very professional looking, and it aligns perfectly with the Cushman & Wakefield branding.” – Hazel O’Carroll – Associate Director, Asset Services at Cushman & Wakefield

The success of this partnership highlights the power of innovation and collaboration in revolutionising property management. As Cushman & Wakefield continues to expand its use of Property Inspect across its complex and comprehensive portfolio, the future prospects for enhanced efficiency and scalability remain promising for the leading commercial real estate services firm.

Responding to customer needs: How did Property Inspect deliver unique value to Cushman & Wakefield?

1) Building effective operational workflows:

“We implement operational workflows that get data from A to B and encourage accountability for people. […] It’s about getting that data and documents to the right people at the right time. This can be setup as a standard for your business, a playbook that enables your staff to do their job with ease.” – Warrick Swift, Marketing Director at Property Inspect

2) Adaptability across asset classes and geographies:

“We provide a combined solution to build any digital form. […] We allow the client to be dynamic in what they can deliver and how they can capture information, while being able to standardize what they’re doing internally to reduce staff training and room for error.” – Steve Rad, CEO at Property Inspect

“Cushman & Wakefiled are fortunate to be involved in managing lots of different assets classes and to have a diverse customer base. Having a platform that allows them to meet various needs, be dynamic and adaptable across different verticals, different asset classes, and different types of client was crucial for the value provided.”

3) Thinking about the future

“Most operational real estate portfolio companies, they are not just looking for a solution that is going to solve their problem now but one that is going to be scalable in the future and one that is going to allow them to adapt.” – Warrick Swift, Marketing Director at Property Inspect

Cushman & Wakefield Comments

“After meticulous evaluation, we chose Property Inspect for its unparalleled service quality, adaptability, and seamless integration capabilities. Their commitment to excellence and tailored approach aligned perfectly with our vision for streamlined operations.” – Hazel O’ Carroll, Associate Director, Asset Services at Cushman & Wakefield

Watch the video below to see more about the partnership.