JLL 2015 in Review

The technology imperative

A digital revolution is transforming the commercial real estate industry globally. To win business, serve clients successfully and manage our own operations effectively, JLL is investing heavily in digital, data and information-management capabilities.

We have set an ambitious goal: digitize all JLL data, workflows and business applications by 2020. This will allow us to employ technology to optimize our business functions. It demands a new understanding and approach to the way we conduct business, and, in particular, to the way we handle and analyze data and information across our company.

We seek to optimize our ability to connect clients with opportunities and to connect our own people with their colleagues around the world. The first objective improves our ability to serve clients. The second helps us continue to grow our business through cross-selling, knowledge sharing and improved productivity. To do both, we have committed to develop a technology platform that no competitor can duplicate.

World-class data management

In 2014, we began to build a best-in-class data management function at JLL. Today, a team of experienced data professionals is showing us how leading companies capture, manage and use data for maximum commercial benefit.

Quality data forms the foundation of our technology strategy. But it is our IT applications that take the data and interpret it for business success. So we have also been working to bring our IT developers closer to our business professionals and to develop practical business applications that we can apply globally.

‘Big’ and ‘dark’ data

‘Big’ data is external, public data. Internal and ‘dark’ data is generated by employee interactions with clients and each other. It’s found in spreadsheets, document files, notes, as well as in sales and marketing materials. So it can be either proprietary or public data.

JLL has more than 60,000 employees worldwide, we manage 4 billion square feet of commercial space, last year we completed $138 billion in sales, acquisition and financing transactions, and LaSalle Investment Management had more than $56 billion of real estate assets under management at the end of 2015.

As a result, the data that our extended and integrated global platform gives us is a rare and precious asset. We can use analytics to mine, manage and relate it to other relevant data to help decision making in ways that few competitors can match.

Superior client advice

Our ability to generate, integrate and manage data quickly and successfully drives our ability to deliver sound advice to clients. Collecting data is comparatively easy. Integrating it is more difficult, because it needs to be related to other data. Managing data is hardest of all, because that requires standardizing and aligning protocols and procedures to apply the data across the entire organization.

To address all three, we identified the real estate industry’s leading data strategy and integration platform, and adapted the software to our specific needs. During the customization process, we made sure that the system can be used effectively by all our service lines in all parts of the world.

Core and core+ applications

Our data strategy allows us to focus resources on uniformly high-quality applications and reduce efforts to maintain a large array of systems developed locally. We think first in terms of core applications, standardized back-end systems we can use across the business. Then we develop core+ technology, customized applications that address specific needs and opportunities in regional, country and local markets. We leverage our industrial-strength back-end to build front-end applications quickly and economically. Our philosophy is “Build once; adapt and apply often.”

To get a sense of how our data collection, management and integration systems work together in the real world of clients, consider a few of the applications we have developed and recently launched.

REDSM

Our RED data and insights platform introduces the science of productivity to corporate real estate management. It is a revolutionary business lens that reveals client-specific real estate data from multiple dimensions, opening the way to superior strategy development, optimized decision-making and efficient and productive real estate operations.

RED assimilates real estate data and integrates it with business and market data through a single open platform that plugs directly into a client’s existing apps. It offers clients a full range of tools to uncover areas for improved productivity, with customizable dashboards and detailed analytical models.

Millions of employees at major financial services firms and leading consumer products companies globally currently log into their internal corporate portals to use RED for their space-related services.

Comprehensive information about RED can be found at: jll.com/services/corporates/red

GRASPSM

GRASP (Global Risk Alarm System Protocol) is a desktop app that alerts LaSalle Investment Management professionals to changing market and economic conditions that can affect buy, sell and hold decisions for assets in LaSalle’s portfolios. Adapted from our RED business-intelligence and analytics technology, the app takes raw data from public market sources, filtering and structuring it with proprietary algorithms developed by LaSalle. GRASP provides LaSalle professionals with information that enhances investment decision-making.

Corrigo

Late in 2015, JLL acquired Corrigo, a pioneer in cloud-based facility management solutions. Corrigo’s innovative platform allows facility management and field service management organizations of all sizes to take greater control of maintenance and spending on repairs while gaining better understanding of vendor and technician performance. Through its comprehensive suite of software and mobile apps, the platform automates virtually the entire maintenance-management process.

The platform has a strong network of 1 million users managing more than 10 million work orders per year across more than 180,000 sites. Originally developed for facility management clients, the Corrigo platform will be adapted to serve Retail and Property Management clients as well.

Online marketing

The continued growth of our online marketing (OLM) platform gained significant momentum in 2015. We created a global listing platform that allows us to re-use features and design around the world, cutting our delivery time by half. It also creates the flexibility to customize design, features and data to match local market needs. As an example, Officefinder, developed for the Tokyo office market and launched in September 2015, features a Japan-centric design and already contains more than 5,000 listings across the city’s major office districts.

In 2015, we also launched HiRise, the first online transactional marketplace for U.S. commercial real estate. HiRise allows tenants and landlords to connect and complete real estate transactions entirely online, creating a previously unavailable online leasing market for small tenants occupying less than 5,000 square feet.

Named by InformationWeek as one of “20 Great Ideas to Steal in 2015,” HiRise simplifies the leasing process for tenants and landlords alike. Tenants secure flexible options — by seat or suite — while landlords monetize vacant space strategically. The platform allows businesses like nimble, high-growth startups to focus on the evolution of their products and ideas instead of dealing with the uncertainty of their long-term real estate needs.

Additional information may be found at HiRise.com

As a result of our OLM investments, we have doubled our traffic and leads to brokers in the last two years. Countries with new implementations saw triple digit increases in traffic and leads, with significant revenue increases as well.

Digital strategy

We have invested heavily, and made substantial progress, in extending our digital presence globally.

Our web platform has grown to more than 100 public sites. We have the largest mobile web footprint in our industry. Our social media platform continues to grow. Real ViewsSM (www.jllrealviews.com), our new website focusing on how commercial real estate impacts the wider world, tracks trends and topics in real estate globally. And in 2015, we completed registry requirements for the top-level domain names .jll and .lasalle, which will be the cornerstone of our long-term domain strategies.

In 2016, we will continue to invest in our digital presence to drive additional growth across our service lines, win market share and generate leads from our digital ecosystem that we can then deliver into the business. We believe that these efforts will further strengthen our client relationships, improve productivity for clients and our firm, and differentiate JLL as we adopt new technology.

Smart buildings and the ‘Internet of Things’

The Internet of Things (IoT) is a simple concept with complex implications for the commercial real estate industry. IoT refers to networks of Internet-enabled devices or systems that communicate and share data with other smart devices. IoT turns buildings into ‘smart’ buildings by creating centralized networks that integrate building systems so they can share data and operate more efficiently. This transforms the way buildings respond to the real-time needs of occupants.

JLL’s smart building solutions take an integrated approach to incorporate multiple technologies, systems and strategies to deliver the greatest return on client investments. Our custom solutions improve strategic workplace planning, enhance the employee experience and, ultimately, increase employee productivity, engagement and satisfaction.

For example, as we planned the renovation of our corporate headquarters in Chicago, a survey revealed that employees thought they were mobile 30 percent of the time. But when seat-sensor data showed that they actually spent nearly half their days away from their desks, we factored that information into our plans. Many of the features in the new space were driven by employee input. They asked for greater connection with their colleagues, more choices to address multiple work styles, and increased agility to respond quickly to immediate work needs. The new workspace uses technology to deliver all three.

Awards & independent recognition

Our data and technology initiatives continue to earn recognition with clients and independent third-party observers.

For example — and for the fifth consecutive year — JLL has been selected to the 2016 InformationWeek Elite 100, a list of the top business technology innovators in the United States. This time we have been recognized for the successful launch of RED and for innovation in delivering solutions that allow clients to maximize the value of their real estate portfolios.

And in 2015, we achieved ISO27001 certification for the RED platform. This certification, from the respected International Organization for Standardization, confirms our ability to provide stringent management of information security risks to our RED clients. We have also filed patent applications for aspects of our technologies, including one relating to HiRise, another for a geospatial intelligence tool and a third for a cities comparison tool. These show how our technology is setting us apart by adding unusual value for clients.

Value creation for clients and for JLL

The common theme running through all our technology, data and analytics investment and innovation is value creation by digitizing and optimizing work processes to benefit clients, our own employees and our company as a whole.

Our technological innovations help clients identify the best opportunities and make the best decisions. It helps our people sell to, and then serve, those clients quickly and effectively. It makes JLL a more productive, and therefore a more profitable, company by increasing revenue per professional. It increases our competitive advantage by differentiating JLL in the marketplace.

Throughout 2016 and into the future, we will continue to invest in technology, data and analytics to continue to increase our client-service levels and capabilities.

 

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