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Driving ROI in Smart Building Investments

The smart buildings industry is undergoing rapid technological advancements and servicing shifting market needs. As a response to this ongoing transformation, a group of industry experts recently established a not-for-profit organisation, the Digital Buildings Council (DBC).

Its aim is to address key challenges that have and continue to hinder the growth and efficiency of the digital buildings market.

Among these challenges are the conflicting voices and inconsistencies in language across the industry, which can lead to market confusion and a lack of standardisation — potentially hindering effective communication and collaboration. Not only can this can make it difficult for stakeholders to understand each other, it can also lead to misaligned expectations. In the worst cases, it can even lead to the flawed implementation of projects.

And then there’s a significant ‘technology promise gap’ — the disparity between what digital building technologies claim to offer and what they actually deliver in terms of outcomes. Finding solutions to these issues is not only in the industry’s best interest but also central to LMG’s operational strategy.

Elevating standards

As a founding member of the DBC’s steering committee, Mike Hook, Co-owner & Director of LMG, captures the essence of what the DBC aims to accomplish.

“If the digital building market is going to fulfil its full potential, it is incumbent on us all to provide our customers with guaranteed smart outcomes and a compelling return on investment. The DBC will deliver this in spades”, he said.

LMG is now able to leverage the DBC’s collective insights and best practices to effectively address the technology promise gap. By implementing high standards and fostering transparency, we can ensure that the smart building principles it advocates deliver tangible customer benefits.

This approach is a cornerstone of LMG’s ethos, raising the bar for the standards of service and technology within the built environment, while promising enhanced sustainability, flexibility, and user-centric solutions.

The comprehensive methodology LMG employs to calculate the ROI on smart buildings showcases our commitment to long-term operational efficiencies and user satisfaction. This includes detailed analyses of energy savings, operational costs, compliance with regulatory standards, and the overall impact on tenant well-being and productivity. These factors are increasingly important in a market where sustainability and user experience are as heavily weighted as financial returns.

A unified vision

The collaborative efforts under the DBC’s umbrella aim to elevate industry standards and practices through shared knowledge and joint initiatives. Such a partnership allows LMG to influence and adapt emerging strategies within the smart buildings sector — ensuring that investments are both sound and universally beneficial.

The council’s focus on developing a common language and approach for digital building implementation fosters better understanding and cooperation across the industry. From building owners and landlords to project managers and cost consultants, this alignment is crucial for delivering smart building projects that meet the evolving demands of both the market and the users themselves.

LMG and the DBC are committed to driving the future of the digital buildings industry forward. We are actively contributing to a more integrated, efficient, and sustainable approach to smart building investments. This shared vision is for an industry that values guaranteed outcomes, compelling ROI, and a commitment to raising the standard of the built environment across the globe.

Together, LMG and the DBC are setting new benchmarks and establishing common best practice, transforming the smart building industry into a beacon of innovation and sustainability.