May 19, 2020

The future according to Knotel CEO Amol Sarva

Blockchain
Real estate
Knotel
Amol Sarva
hotmaillogin
3 min
The future according to Knotel CEO Amol Sarva

Knotel, which runs a network of custom locations with adaptable environments that cater to modern business needs. Run through the headquarters as a service model, Knotel provides on-demand, customized office space to its clients. Knotel is a major competitor to WeWork in the flexible office market.

Amol Sarva founded Knotel in 2016 and has seen the company grow into an organization that owns over 1.5mn sq ft of space across 60+ locations in New York, San Francisco, London and Berlin. Looking forward to 2019, Business Chief presents three of Sarva’s predictions for the coming year.

 

Blockchain

‘Many businesses will wake up to the opportunities presented by blockchain and see beyond the hype. We are all guilty of wanting to implement it ‘just because’ in the past – now, I think it’s the single largest and most practical use-case for sharing credible information.

In the office leasing business, we’re using blockchain to increase transparency, and drive better decisions and frictionless transactions. Real estate is worth $30 trillion in office space —and if you’re burning 2 percent of that a year on informational data and due diligence, relying too much on the word of landlords, that’s hundreds of billions.

So, my ultimate goal is to create real estate’s first automated valuation model and have every office property in every major market globally indexed and searchable, available to lease with one click. That kind of platform is going to be invaluable for brokerages, financial information companies, and some of the biggest tenants in the world, who have expressed interest already in joining in.’

 

Demystifying Unicorns

‘Unicorns are overrated for investors, as recent history has shown. There are plenty of inefficient business models in the market today, and it’s never been more crucial to be capital-efficient. Valuation doesn’t mean an investment is a winner; money raised is not a measure for success necessarily, it is how you use existing capital without ‘burning cash away’. If you’re losing a lot of money, you need to raise lots of money. If you’re willing to take more risk, you can grow much larger and much faster, with much less money than anyone else in the market’.

 

Coworking/flexible office coming of age

‘I believe that in 2019 we’ll see coworking and flexible office coming of age. Businesses will ‘graduate’ from co-working, actively pushing the ‘tech bro’ mentality out. There is an element of ‘frat culture’ created within coworking facilities - it’s hard to avoid taking a shortcut towards company values and absorbing the existing toxic cultures, when you’re surrounded by them - especially when they are fueled by beer pong, loud music, and prosecco parties. I’m truly hoping that businesses will come to realise the significance of preserving their own brand, culture and identity as they grow.’

 

Image courtesy of: www.amolsarva.com

Share article

Jun 18, 2021

Intelliwave SiteSense boosts APTIM material tracking

APTIM
Intelliwave
3 min
Intelliwave Technologies outlines how it provides data and visibility benefits for APTIM

“We’ve been engaged with the APTIM team since early 2019 providing SiteSense, our mobile construction SaaS solution, for their maintenance and construction projects, allowing them to track materials and equipment, and manage inventory.

We have been working with the APTIM team to standardize material tracking processes and procedures, ultimately with the goal of reducing the amount of time  spent looking for materials. Industry studies show that better management of materials can lead to a 16% increase in craft labour productivity.

Everyone knows construction is one of the oldest industries but it’s one of the least tech driven comparatively. About 95% of Engineering and Construction data captured goes unused, 13% of working hours are spent looking for data and around 30% of companies have applications that don’t integrate. 

With APTIM, we’re looking at early risk detection, through predictive analysis and forecasting of material constraints, integrating with the ecosystem of software platforms and reporting on real-time data with a ‘field-first’ focus – through initiatives like the Digital Foreman. The APTIM team has seen great wins in the field, utilising bar-code technology, to check in thousands of material items quickly compared to manual methods.

There are three key areas when it comes to successful Materials Management in the software sector – culture, technology, and vendor engagement.

Given the state of world affairs, access to data needs to be off site via the cloud to support remote working conditions, providing a ‘single source of truth’ accessed by many parties; the tech sector is always growing, so companies need faster and more reliable access to this cloud data; digital supply chain initiatives engage vendors a lot earlier in the process to drive collaboration and to engage with their clients, which gives more assurance as there is more emphasis on automating data capture. 

It’s been a challenging period with the pandemic, particularly for the supply chain. Look what happened in the Suez Canal – things can suddenly impact material costs and availability, and you really have to be more efficient to survive and succeed. Virtual system access can solve some issues and you need to look at data access in a wider net.

Solving problems comes down to better visibility, and proactively solving issues with vendors and enabling construction teams to execute their work. The biggest cause of delays is not being able to provide teams with what they need.

On average 2% of materials are lost or re-ordered, which only factors in the material cost, what is not captured is the duplicated effort of procurement, vendor and shipping costs, all of which have an environmental impact.

As things start to stabilise, APTIM continues to utilize SiteSense to boost efficiencies and solve productivity issues proactively. Integrating with 3D/4D modelling is just the precipice of what we can do. Access to data can help you firm up bids to win work, to make better cost estimates, and AI and ML are the next phase, providing an eco-system of tools.

A key focus for Intelliwave and APTIM is to increase the availability of data, whether it’s creating a data warehouse for visualisations or increasing integrations to provide additional value. We want to move to a more of an enterprise usage phase – up to now it’s been project based – so more people can access data in real time.

 

Share article