PwC And Tango Partner To Tap Into A New Wave Of CFO-Led Space Reduction Programmes
In February 2021, retail and workplace management software vendor Tango announced a new partnership with PwC to jointly deliver workplace optimization solutions. The partnership brings together PwC’s sensor Data Ingestion and Normalization Platform, with Tango’s Workplace platform for occupancy management, data analysis, and reporting. The joint proposition provides firms with real-time insights on space utilization, helping occupiers redesign offices and make strategic real estate decisions for the hybrid working era. Clients can also choose to engage PwC’s real estate consulting team to analyze the space utilization data, and build strategic roadmaps for space consolidation or hybrid working.
This announcement confirms that 2021 will see a tidal wave of workplace transformation projects, as firms globally rethink their working models and how much office space they really need. It also highlights the central role that granular space utilization data will take in informing these new ambitious strategies. According to our 2020 global corporate survey of 250 corporate real estate directors, change will be widespread, with 84% of firms making the transition to agile working and hotdesking a major priority. We also heard that 70% of firms are investing in space utilization data analytics at one or more sites to support agile workplace programmes and space reduction.
PwC and Tango are well placed to tap into the growing demand for workplace transformation projects, where the CFO is increasingly an initiator of programmes. According to PwC’s CFO Pulse Survey published in June 2020, 27% of CFOs are looking to reduce their real estate footprint in response to COVID-19, given the potential to save millions annually by reducing lease obligations. Collectively, they can leverage existing relationships to work with the real estate and facilities directors to operationalize strategies.
Multiple other vendors are also targeting this red hot market. For example, JLL recently announced a partnership with software vendor Saltmine to help firms redesign floor plans efficiently using sensor data and employee feedback. Cushman & Wakefield has a partnership in place with Spacewell, leveraging its smart building software platform to support workplace monitoring and management for clients. There is also a slew of freshly funded workplace analytics vendors aiming to capture market share, including Density, Locatee and VergeSense.
For more insights into developing a new strategy for your workplace, join our upcoming virtual event The Future Of the Workplace taking place on June 17, 2021.