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According to a recent report, “the cost of poor communication costs businesses $37 billion across the U.S. and U.K. This report also estimates that communication barriers cost the average organization $62.4 million per year in lost productivity.”

The demand for efficient communication in buildings has never been higher. And it’s not a trend that’s expected to go away anytime soon. It’s a new norm that’s only going to become more influential in the way tenants choose the buildings they want to reside in. 

From retail to office and multifamily — these are the three key ways technology is changing the way we communicate in our buildings. 

Upgraded operational efficiencies 

Regardless of the type of space, you work in, chances are you’ve stumbled over an operational problem at some point. Catering that’s sent to the wrong store, packages delivered to the wrong tenant, office visitors left stranded at parking garage gates. Small communication issues can lead to big problems. 

But technology is changing that. Apps that connect all tenants to their buildings, and allow them to make service requests and be accessible at any time reduces the possibility of human error. 

Technology automates maintenance and cleaning requests. It makes room-booking scheduled accessible and easy to use at any time. It makes communication to building management nearly instantaneous. It creates a trackable system where nothing is missed. 

This next-level of building communication makes businesses run more productively, and improves the tenant experience, leading to higher retention rates. 

Instant access improves the tenant experience 

Communication through technology in buildings makes a space of business more like a community. 

We’ve all experienced office spaces or multifamily complexes where no one knows each other. Where points-of-contact and operational processes are uncertain. Where accesses basic information can feel inconvenient. 

Technology enables tenants to access information like agreements and guidelines, and news and updates, quickly, whenever they need it. There’s no lapse in communication that leaves tenants feeling unappreciated or unheard. 

Technology also creates new ways for tenants to connect. It can offer chat features, social media updates, surveys and feedback, easy rental payment features, community special offers and events, and so much more. 

Technology strengthens safety and emergency management 

In the event of an emergency, messaging needs to be fast. Real-time feedback is essential and communications need to go to the right people at the right time.

Technology offers preventative and real-time solutions for buildings when it comes to safety. 

It allows for mass emails to be sent out at one time, it makes emergency contact information accessible to anyone at any time, it makes it easy for anyone in distress to alert security and higher authorities with the press of a button. 

Preventative systems like templated messaging, cloud document access and building access management make buildings prepared for an emergency at any time. While features like push notifications and instant reports make managing sudden security issues as efficiently as possible. 

Failures in communication are monetizable, and most companies can’t afford them. Luckily, as technology continues to grow and evolve, it’s only improving the efficiencies of buildings. 

But better yet, offering advanced technology solutions gives buildings a competitive edge in today’s market. It shows potential tenants that you’re on top of evolving industry demands and that they can count on you to help bring them into the future. 

Is it time for your building to enter the 21st Century? Get the competitive edge your building needs to compete with top-tier tenants. Click here to learn more about Mallcomm and how it can be used to your building communications.