The demands for cost-effective tools and sustainable models are the other features that are affecting the future of building and facility management technologies. Against this backdrop, Chennai and Atlanta-based firm, Facilio, is using the internet of things and machine learning to leverage their tech capabilities to manage building operations, maintenance and sustainability. Started by Prabhu Ramachandran, Rajavel Subramanian and Yogendrababu Venkatapathy the firms operate in the real estate field since 2017
“With government led Smart City and housing-for-all initiatives, as well as rapidly increasing urbanisation, there is a substantial increase in construction activity, ongoing as well as anticipated, in both the commercial as well as residential sectors,” says Prabhu Ramachandran, CEO and co-founder of Facilio.
Facilio’s Core Product Offerings:
Through their AI and IoT-based real-time facilities optimisation software, the firm offers unified facilities and sustainability management. Explaining about their core offering, Ramachandran says, “In a nutshell, we harness technology to unify the three core components of the built environment – people, sustainability and machines – to drive real-time operational efficiency across real-estate portfolios.”
Predictive asset management: By clubbing together building automation systems (BAS) with FM-tech, Facilio helps buildings to leverage the existing BAS data gold mine, and use it to optimise operational efficiency, the performance of critical assets, and sustainability in real-time, translating into meaningful savings.
Energy efficiency & sustainability: To track and interpret energy consumption patterns using state of the art tools. Data acquired from meters, heatmap analysis – IA is employed to make predictive diagnostics, detect anomalies and validate smart processes.
Smart workforce: It enables integrated workflow that assists technical teams with insights to help identity, verify and close issues. In order to achieve this, a real-time AI and IoT-led approach leading to effective workforce management and higher productivity have been deployed to tracking down information, exchanging redundant paper notes, and digging down energy-consumption charts and spreadsheets, and start delivering value to real estate owners and end-users.
Staying Abreast Of The Competition
Most IoT solutions being deployed in the market today are dependent on proprietary sensors that add to the complexity of already disparate legacy solutions. Ramachandran claims that Facilio has carved a niche for its unique model to stay ahead of its competitors. “As opposed to the traditional hardware-centric automation systems working in silos, Pacilio’s software-led approach helps to predictively optimise facilities and create a unified experience,” he adds. In addition to large ERP products vendors, startups working in the field as are the immediate competitions for the firm.
Further, Ramachandran states that by tapping to existing building systems as data-rich resources, analysing and contextualising information into real-time actionable insights, Facilio empowers Commercial Real Estate (CREs) to add value to their operations.
The Road Ahead
With technology advancing swiftly, the firm aims to disrupt the real estate market in a bigger way, “A lot of our early inspiration came from the technology-enabled efficiencies and outreach that was generated in fields such as e-commerce and ride sharing. We have always wanted to deliver a similar disruptive influence in the facilities management space, by deploying technology as a means to re-imagine and redefine the industry,” Ramachandran says.
To achieve this, in 2019, the aims to leverage IoT and AI at a large scale to emerge as one of the leading providers of tech-driven facilities management enablers in the industry. “Our core vision will remain driven by a focus on leveraging technology to deliver optimal experiences for people, sustainability for the buildings and their integrated systems and real-time monitoring and management of devices and technology. Facilio’s goal is to empower CREs in being able to be proactive as well as in adding value to their operations,” he adds.
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Akshaya Asokan works as a Technology Journalist at Analytics India Magazine. She has previously worked with IDG Media and The New Indian Express. When not writing, she can be seen either reading or staring at a flower.