Video: Why Cushman & Wakefield integrates Matterport into their workflow

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	Video: Redefining the Commercial Real Estate Space Through Digital Twins, Featuring Cushman & Wakefield \| Video courtesy of Matterport YouTube Channel \| 10 December 2021 Panelists Rasika Savkar Partner Ent. Customer Success Manager Matterport Brigitte Bennett Marketing Executive Cushman & Wakefield, APAC Stephen Johnson St. Operations Manager, TDS Cushman & Wakefield, NORAM Elizabeth Singer Sr. Project Manager Cushman & Wakefield, NORAM Transcript (video above) [00:00:02] Rasika Savkar: -Hello everyone. On behalf of Matterport, welcome to the webinar. We'll give our attendees a minute to get settled in and we will start shortly. Let me begin first by saying, thank you to all of our attendees today. We really appreciate everyone's time, especially as things may be getting busy towards the end of the year. It's my pleasure to welcome our panelists from the Cushman & Wakefield organization. We have Brigitte Bennett who manages property marketing for Cushman & Wakefield in Australia, who joins us from New Zealand today. Good morning Brigitte. We have Stephen Johnson, Senior Operations Manager for Technology in TDS solution at Cushman & Wakefield. And Elizabeth Singer, Senior Project Manager for Cushman & Wakefield, managing the multi-site programs. Thank you for being with us here today. I look forward to our discussion. Then finally, to help us learn a little bit about you, please, answer the quick poll about the service line that you may belong to before we move further with our agenda for today. At this point, we will be building our first question. Please, be on the lookout in the chat section. In terms of our agenda, we will start taking a look at the State of Digital Transformation with Matterport, and dive into some of our featured products for today. Then, we'll launch into our expert panel at Cushman & Wakefield to hear how they have been leveraging Matterport's Digital to increase efficiency and productivity across their service lines. Finally, we'll save time, as I mentioned before at the end for a live Q&A session. As I mentioned before, the Q&A section will be manned by our in-house Matterport experts, so feel free to keep those questions coming. Prior to the pandemic, both the residential real estate and commercial real estate sectors were dependent on outdated methods to draw attention to the spaces attributes. Agents here relied on digital photos which offer a very limited understanding of the space. All relied on in-person visits to the sites from potential tenants and buyers, which as we all can relate to, is a resource intensive [inaudible 00:02:18] the cycle. These are significant surge in demand for our technology since the onset of the pandemic, and it has continued to steadily grow. Lock down restrictions and contamination risk greatly enhance the need to virtually access sites. This quickly became an integral part of the zero touch or touchless transaction experiences. We've witnessed similar uptake across the retail, travel and hospitality, industrial and manufacturing sectors as well. Digital Twins offer capabilities such as interactive virtual walkthroughs, as well as tools to better design, plan, build, operate optimized thesis cater to the evolving customer needs. More specifically, in the residential real estate and commercial real estate sectors, we have several quantitative benefits that we have outlined here. For leading CRE companies that had offered virtual technology early on an integrated this as part of their cashless transactions strategy, experience up to 85 percent faster transaction times. The ability to socialize the space simultaneously with multiple tenants and buyers, certainly reduces site visit time, as well as travel time. Then, some of the supplemental benefits from reduced site visits include reduced service resources and costs, as well as CO_2 emissions associated with the travel. Further digitizing facility portfolios and linking them to easily accessible property listing portals. Have also democratized accessibility of these spaces virtually to the consumers. In many cases, CRE companies have reduced the property hunting timeline for the tenants from weeks to merely days. In incorporating virtual tools in the digital marketing material, has also doubled the number of clicks that these marketing materials would get. Consumers across both CRE and RRE sectors have come to expect virtual tours as being an angular part of their property hunting experience. In a survey conducted recently, 71 percent of the buyers said that they would purchase a home sight unseen if the listing had a 3D virtual tour associated with it. Keeping this soaring demand in mind, Matterport continues to state this fashion leader needs. Stays committed to developing more virtual experiences throughout a steady stream of product and feature launches, and through our vast partner ecosystem. With an ever-growing list of big brand logos, Matterport's products and services are applicable across multiple space classifications, use cases, and industries. Our platform is unlocking value across multiple industries, and accelerating the adoption of our products to drive efficiency in their processes. Right from leveraging our VM files for understanding the special attributes for designing space planning or construction activities or the virtual tour and platform solutions for creating unique immersive experiences in retail or, travel and hospitality, or manufacturing industries, or maybe leveraging our true plan to close insurance claims faster. Then finally, integrating our virtual tours with IoT systems to simplify facilities management for animation, Matterport solutions are quickly becoming universally applicable across the built environment. Our most recent capture, Android capture, launch democratizes the access of our technology, allowing anyone with an iPhone or an Android device to capture a space in 3D. Later in this presentation, we will be taking a closer look at the Schematic floor plans, Matterport, BIM files, and Virtual staging. But first, let's take a look at Matterport's adoption inside the Cushman & Wakefield organization. As an early adopter, Cushman & Wakefield sort Matterport as a solution to help accelerate the process of listing and renting commercial properties for landlords and tenants. Since before the pandemic. Cushman & Wakefield sought a globally scalable solution to quickly begin digitizing it's portfolio to drive further efficiencies in it's agency leasing services. Matterport capture services offered this the right solution. Capture services for those of you who are new to it, is our turn key solution offering under which an organizations in draw from our extensive pool of skilled capture technicians, who can be readily dispatched to a site almost anywhere in the worlD. To scan the space on your behalf. This streamlines the need for Cushman & Wakefield to manage multiple vendor relationships, eliminates the hassle of purchasing, maintaining, operating, and training users on using this technology, and consistently delivers high quality of goods. It also aligns with Cushman & Wakefield stick strategy of working with strategic partners to deliver innovative solutions. Scalable, and generate deep insights and create new value. Using Matterport has allowed Cushman & Wakefield real estate professionals to provide it's clients with better insights and decision-making, and offers a safer, more convenient, and improved method of viewing spaces for investors, occupiers, developers, and asset managers alike. Over time, as awareness of Matterport's technology grew, clients and adoption has steadily grown to other service lines, such as Project and Portfolio Management and the PDS group. Over the past 12 months, Cushman & Wakefield has digitized over 1,200 properties across 21 countries, realized 53 percent cost savings using our global network of capture technicians rather than self capturing, and enhance customer services across the business portfolio. [00:08:36] Rasika Savkar: For today's webinar, we have a few Matterport products to highlight specifically given the relevance to the commercial realistic industry. Our first product in the spotlight is the schematic floor plan. Schematic floor plans are an essential marketing property asset as we all know, and one that is most commonly requested for attracting buyers. For existing buildings, as-built drawings are either harder to locate or drawings on file often don't resemble the current state of spaces. With Matterport, once the 3D virtual drawer is ready, after the space is scanned and deposited to your Matterport Cloud account, you can order and receive a ready-to-use Matterport floor plan without having to manually measure up the entire property and draft it in your CAD software. Our schematic flow plans are measured based on the standard specified in the International Property Measurement Standards, the IPMS. Then to maximize the accuracy of our plans, our trained capture technicians scan all the rooms completely and ensure that there are no misalignments or other artifacts interrupting the space. Space is created with an active depth camera such as a Matterport Pro, Pro2 or BLK 360 typically provide the most accurate results, and then the black and white floor plan that can be downloaded as a zip folder containing .PDF, .PNG, .SVG file formats can be received within two days from ordering. The file formats can be readily accessed and added to any viewable and downloadable assets to commercial property listing sites or can be incorporated in e-brochures or printed material. With our fast and express options, you can receive your ordered schematic floor plans within less than 24 hours or as quickly as six hours respectively. Our next feature product is the MatterPak point cloud bundle. The MatterPak bundle is a set of downloadable and exportable assets generated from the Matterport 3D data for use by architects, designers, construction professionals or development professionals. MatterPaks can be imported into a multitude of programs such as 3D Max, ReCap, Revit or Autodesk to kick start your design development or management process. Once imported in a drafting software, the point cloud can be used to trace the geometry of the space to develop your as-built plans. Construction professionals can also use the ceiling plans and the reflected ceiling plan and the floor. Plan images for documentation, verification, and building turnover packages, or simply use the point. Cloud as part of the QA and QC process. 3D data is usually accurate within one percent of reality on MatterPak. A few things to note on the MatterPak, please note that the MatterPak Bundle is not available for virtual tours that contain scans from a 360 camera or a smartphone capture. Virtual tours must only contain scans from a Matterport Pro, Pro2 like a BLK 360 and such compatible devices. In order to be able to generate and download a MatterPak Bundle. Finally, the MatterPak is a one-time purchase that stays downloaded on your Matterport Cloud account and can be downloaded to any other drives for offline access. Our most recently launched product is our direct order Matterport BIM file which offers a single source of truth on the as-built conditions of a space. Prior to the BIM file launch, customers would often download a MatterPak from the Matterport Cloud account, import the point cloud file into a drafting software such as Revit or AutoCAD to manually trace over and develop the 3D geometry that simulates the attributes of the actual space. With Matterport's BIM files, they completely eliminate the need to do any manual work to recreate this geometry in drafting software. The product is generated also at a fraction of the conventional cost of surveying an as-built documentation. Matterport's BIM files thus extend the ability for any AC professional to continue relying on Matterport as a data source at various stages of the building life cycle. Once you scan your space with any of our compatible cameras, again, the same set of cameras Pro2 or BLK 360, you can simply order the BIM file from your cloud account. A couple of things to note, to access this asset, the Cloud account admin needs to enable the BIM file offerings in the account settings, and then once enabled, any user who has edit access can order a BIM file. On the ordering page for the BIM file in the Cloud account, you can view the details for processing times, file format types, as well as sample downloadable file. The file format for the built files is .RVT and .DWG for the 2D CAD file. Then finally, the BIM product offering is available at four levels of detail, architecture only which will contain all the structural elements of the space as it is visible within the space, these could include your walls, columns, beams, any built-in offsets, closets, counters, etc. All BIM orders will have architecture as the base option, but furniture and /or MEP can be added as an additional layer. Architecture and furniture as the name suggests would have all the visible architectural elements as well as the furniture elements added on top. Architecture plus MEP will overlay any visible MEP systems along with the architectural elements of the space. MEP systems represented will include any exposed mechanical elements such as your ducts, shafts, piping, plumbing, and electrical details. Finally, our fourth option is a all-in option which includes architecture, furniture, MEP, or all overlaid as you can see in this video. A few things to note again is that the BIM file will be created for the entire space that is captured in the virtual tour. Pricing and turnaround time depend on the size of the space and the level of detail, whether it's architecture only, architecture plus furniture, architecture and MEP or the all-in option. Then to further enable ease of use to be able to readily import the BIM files and point cloud data, we've also launched the AutoCAD Revit plugin most recently. With this plugin, you can directly import the files from your Matterport Cloud account into your autodesk suite. Our next offerings in the spotlight is virtual staging. Virtual staging helps commercial real estate companies to think beyond sterile empty spaces by using Matterport to create visually engaging and immersive virtual tours that help entice commercial clients to lease or buy properties faster. Looking through 2D floor plans or individually staged photos of a property doesn't really give a true sense of how appealing a space can be. Commercial real estate offers a great opportunity to apply virtual reality for more visually dynamic and engaging listings to accelerate the sales cycle. Virtual staging with Matterport 3D model gives potential tenants an authentic sense of what it would be like to inhabit the space. It's a valuable capability that enables clients to easily visualize major changes such as adding new ceilings, floors, or even entire layout. With the virtual tour services, customer organization can agree upon some basic design principles or pre-set styles or look books that can be readily reference each time a user places [inaudible 00:17:02] is staging order. Please note that the virtual staging Services are not part of the Matterport Cloud platform. Once interest is confirmed, Matterport usually works with the customer organization to define the style preference and sets up the ordering process. Any space that is again captured using one of the compatible high resolution cameras can be virtually staged. For pricing information, please contact your sales agent or Customer Success Manager. With that, we wrap up the presentation part of today's webinar and we will now move towards our panel discussion. But first, we would love if our audience could answer our second polling question as we wrap up the featured products here. While we wait for the answers of the second polling question to come in, we have the results of our first polling question. It seems like amongst our attendees, we have most of our attendees represent the property facilities or project management service lines, 80 percent of our attendees represent the product budget and facilities management service life, and then the remaining 20 percent of our attendees today represent the agency leasing service areas. Thank you for your responses. Moving on, before we segment into our customer panel, I wanted to just pause and extend a big Matterport style thank you to all of our global customers and partners. It's you 404,000 subscribers who have helped digitize 5.6 million spaces and counting. That's really defining our frontier ahead. Now, turning our attention to our featured panelists, we have Brigitte here today. Thank you Brigitte for joining us here. [00:19:00] Brigitte Bennett: -Thanks for having me. [00:19:01] Rasika Savkar: -Yeah, Brighton Nelly for you. [00:19:03] Brigitte Bennett: -This is Brighton Nelly. [00:19:05] Rasika Savkar: -Really glad you were able to join us here. Brigitte if you could just provide an overview of how you are incorporating the Matterport Digital Twins in your marketing initiatives in the Cushman and Wakefield, Australia region, that would be awesome. And then further, as you elaborate on your answers, just sharing perhaps with our audience how virtual goods are been received by port tenants as well as agents like. [00:19:39] Brigitte Bennett: -Thanks, Rasika. Initially, when the global prize announcement came out from Stanley Kubrick quite a few months ago, now we commenced a fairly comprehensive internal campaign as our first port of call Matterporters. It's not necessarily new technology in Australia, but it is fairly new to the brokers. A lot of them are pretty old still, when they just put an online listing up on a board. We read about and did quite a lot of live demonstrations. We really incentivize the take up of the product as well. From that strong initial internal campaign, we did initially see fairly low uptake of the product. However, of course, I'm sure everybody's heard, Australia has been for a number of lockdowns over the last 24 months, really, and that's really seen a pretty large increase in our Sydney and Melbourne market of the medical technology. We've seen a pretty good increase in the type of tour was being booked. What we're encouraging is best practice across the take up of the products is to, first of all, make sure that we've got the brokers understanding how to use the product and how to sell the product to the clients so that they can efficiently get them as part of the property marketing campaign. Then we work really closely with the marketing team with the brokers and the support crews to make sure they're using the best practices that we're recommending on how to make sure that they're leveraging and using the technology SDK. What you would have seen playing on the video just before is a couple of ways that we use the tour basically, and we like to use that across multiple channels. Firstly, we use it across what we call our electronic direct marketing. We're using these to seep into databases, to the correct audience, to the correct location, to the people that are looking for the size of the tenancy that we've got available. What we then do is we make sure that everything is linked back through to Cushman Wakefield. We've got those [inaudible 00:21:47] linked back through to our property portal, which is a slightly different run from the from the rest of the globe. We're a little bit stuck in our ways here in Australia. Then we make sure that we've got the Matterport tours linked on the website. On our property portal in a public way, we've got the tours available for our audiences to go straight into and see the the spaces. We've got available for lease. What we're also doing is making sure that we're using the Matterport tours as an external URL link on the the leading property portals here in Australia, being www.commercialrealestate.com.au and www.realcommercial.com.au. The examples are actually up on screen right now, so my timing is perfect. What we also do additionally to this, as we work really closely with our agents and ensure that they're using really strong keywords across their property listings and copy of those listings, making sure that they're using what is it going to be really strongly and dates that people searching. Ensuring that the property addresses across there lots of times using the words like virtual tour because a lot of the time we notice our audience in Australia. They like to have a little bit of control of their experience when they're searching for their properties. We're really trying to, without letting go of too much of the narrative of the actual leasing journey, we're trying to put as much of the the control back into the audience whilst also making sure that it's easily searchable and easily accessible for them. [00:23:20] Rasika Savkar: -Absolutely. Yeah, that sounds like right there I could hear multiple best practices and thank you for sharing those with our attendees. On the tenant side of things, how have tenants been receiving some of these added digital assets? [00:23:36] Brigitte Bennett: -It's quite interesting. Obviously, we've done a lot of tours throughout the lockdown process. Of course, what that means is that we're not actually able to get onto the building. However, what we're able to do is keep that momentum of our campaign going through the use of these digital trends. The tenants, it's helping the elimination process so they run it. It's creating a really concise shortlist so that when the lockdowns were lifted, they were able to, rather than going through 15 or 20 properties, they were able to eliminate some of the properties that they knew that weren't going to be quite suitable for them and then only have to visit five properties once the lockdowns were lifted, which ensured that life cycle was a little bit faster then. Because of those lockdowns that we've had here, and some of them were very lengthy, the property journey for some of our tenants was greatly shortened because the search period that they would normally conduct be 3-6 months was greatly restricted because of the lockdown. It really helped keep that momentum flowing and also gave some of that control that I mentioned before back to the tenants and the audience that that was searching for their new home, basically. [00:24:52] Rasika Savkar: -Yeah, that definitely sounds like a happy outcome for both Cushman and its tenants. In that sense, has there any way in which tenants have not just relied on tenants and designers unlike in your experience, strictly from a property marketing perspective. Has the relevance of our board and its technology extended beyond the brokerage use case in any instances, and if you are able to share that a little bit with our attendees here. [00:25:28] Brigitte Bennett: -Yeah, it's quite funny you ask that question. Fairly recently we've come out of our lockdown in Australia, which is good but unfortunate at the same time because we don't get to spend as much time virtually with each other and I'm obviously based in New Zealand so, it is a bit tricky. But part of that is that we have seen, unfortunately, a slight decrease from our commercial real estate side of our business. However, we're seeing a really large uptake across our PDAs business to the point where some of our colleagues in Brisbane have actually gone out and purchased a camera themselves and decided to integrate it in their day to day project management across their long term projects. It's really interesting seeing the benefit that they are taking from the technology. I had a call with Dan, who's our account manager down here in Australia the other week and one of the PDAs guys had some questions for me about them files and schematic plans and all these things that we just don't generally use in the commercial real estate world. We're all about floor plans and tours and things like that. I also had to email Daniel, I was like, hey, mate, what are all these things? And he's like, that's easy, you just jump on the portal and click a button and it's delivered to you. The prices are all there. I'm finding it really interesting the ease of use that the PDAs team have picked up and started using the technology as well. I'm really interested to see how they go with that as well in the future. [00:26:53] Rasika Savkar: -That's awesome. That's really great to hear. I'm glad that we're making the right connections across all the service lines because as I mentioned before in my presentation, there is really a room for all products across all of the commercial real-estate service lines. [00:27:08] Rasika Savkar: Thank you for sharing that with our attendees here. Brigitte as we get wrapping up with your part of the panel discussion here, happy to take in any results, whether you have had the opportunity to quantify them in terms of what benefits you've seen or even anecdotally, you shared some of those early on as you talked about the video. I'm happy to receive them. [00:27:36] Brigitte Bennett: -We don't track a lot of the data across the products that we're using. However, it's something that I'd really like to do. I've just recently completed some data analytics training with that. I'm into the whole data saying at the minute. This is something I definitely want to look into doing in 2022. But I think importantly for us and I've touched on it a couple of times, it's about my maintenance, keeping the campaigns going. Our capital markets team here in Australia are likewise pit bull markets. They have a huge amount of interests from offshore. By having these really beautiful 3D tours that are incorporated 360 degree photography. With these a lot of Meta tags with pieces of information about the property etc, it's really allowed that the cap markets taint to continue with the campaign, the on or off market and similarly without office lease contain with heads. It was one piece of information that I was able to drive, which I thought was a really interesting one, is that we head out obviously contain an Owl Melbourne Business. Complete a transaction completely during lockdown and they use the medical technology as part of the virtual tour. They might have been one or two rules but definitely there might have been a couple of in person to it. But the big use of the medical technology for their team was pretty paramount to getting that deal across the line for them. Just keeping that momentum going and giving the control to some of the audiences. If where we are seeing in the show area. [00:29:11] Rasika Savkar: -Great. Well, thank you so much, Brigitte, some really great insights shared hopefully, our attendees today, their benefit from all of the secret sauce best-practice that Dishrishwi shared from a property marketing perspective. Really appreciate your presentation. We will now move our attention to our next featured panelists who will be elaborating a use case with the project to development service line and Krishman and Wetho. We welcome Steve Johnson here. Hello Steve. [00:29:49] Stephen Johnson: -Hello. [00:29:50] Rasika Savkar: -Steve. Perhaps, maybe let's start our audience of with helping them understand a little bit about this particular PDS clients, whatever their needs or challenges may have been and why you chose to adopt Matterport as part of your solution for this slide. [00:30:13] Stephen Johnson: -This is a project that was run for a client called the Open Society Foundation for charitable organization. They work locally and they basically try to fund and try to support initiatives for human rights and the promotion of democracy. They are just a terrific organization to work with. Our contact point for them and I have to be clear. I was not there contact one for us. I'm speaking for Nicole Macha who is out of our New York office. She was basically the point person between Matterport and for the OSF client. She did a good job of communicating with them and they expressed an interest. They have, again, being a global organization trying to solve problems in many different places and actually a variety of different circumstances globally. They were trying to run construction programs in well, I'll just start with their two originals, which were Amman, Jordan and Bogota, Colombia. They were trying to manage this construction as a centralized organization based in the United States. But the work was going on in multiple clicks. They are in a situation where and this is not necessarily related to Lochum. This is just plain global business. But they're ready to several situations where they would frequently just, their leadership were constantly on planes, constantly on phones, trying to manage all of these different construction sites and manage their local construction interactions. They got the idea to use Matterport and leverage its ability to really pinpoint accuracy in how construction projects are going. Instead of just running one Matterport scan, they began to do weekly scan. I'm sure you all have seen it with the weekly construction video growth, and how things change over time. But for that, one was crucial because they are a global organization, they're also globally collaborative. We needed to have a common set of experiences, even right, since this is a 3D tour, they use it as a common set of immersive 3D experiences in which decisions and by which to really track progress. That's how this came together, that was their problem to solve. That's my first part of the answer, I can leverage. [00:32:40] Rasika Savkar: -That's great, Steve. I am sure our attendees took note of the construction progress documentation, highlight reel that feed on our screen here. But Steve, you just likely touched upon, how this solution may have facilitated collaboration or reduce requests for information or just created more visibility across all parties on the construction. Can you elaborate a little bit more on that part and perhaps why you're added perhaps also elaborating on how the client may have leveraged these were to force to meet their current construction documentation and needs, as well as how those needs may be evolving in the future, more broadly across PDS? [00:33:29] Stephen Johnson: -A little more specifically, having weekly tours and if you look at the stats on all of their sites, they will have about nine or 10 people visit that site a week. These are the people who would normally either have to fly there or get somebody's boots on the ground to get them the data that they needed in order to be able to speak to how the project is coming and where it is going. For sure they're able to leverage those two to reduce the amount of times that they had to meet face to face. Actually this was the number I was able to get which is, she was able to estimate them in one year they saved about $60,000 worth of travel cost. [00:34:15] Stephen Johnson: Yeah, that's real money. We know that Matterport are expensive, but that's return on investment. That part actually worked out very well. But I think that we're not ready for was I think they were sort of operating in the beginning under the assumption that it would move like getting photographs and we would still have to talk to people boots on the ground. Matterport drove actually a little bit of a change in how people's mindsets approached tracking this progress. One major change was obviously they didn't fly to the side as much, but I think a lot of it was just to be able to then really use those immersive 3D experiences to track what was going on and to then have conversations about it. Typically that would have to happen. We'd fly people to a site. They would see it. They would try to filter through what they're being told versus what they're seeing on the ground. Then those conversations could begin and what starts to happen when you're able to just use your own immersive technology, you have that conversation from the get-go. It did a little bit better job of helping them balance the messaging they were getting from local contractors and boots on the ground, people on site with what their own eyes were telling them in very detailed experience, so it didn't change how they do things early on in the projects, but I do think it looks good for being able to impact how they plan and execute future projects. Hope that answers your question. [00:35:51] Rasika Savkar: -Yeah, it does answer my question. Thank you for a very thorough response there. Steve, you gently touched upon the need of not having boots on the ground to even capture the 3D virtual tours here. In that capacity I understand that in this case, you may have leveraged the Matterport Capture Services. Can you share a little bit on behalf of your client the experience working with Capture Services team as well as any benefits you may have experienced from leveraging that. [00:36:29] Stephen Johnson: -Yes, definitely. I can speak to how difficult it is to manage logistics in five or six or 12 different countries on five or six or 12 different projects. This one was a pretty good microcosm for managing two pretty serious renovations and construction projects at the same time, but they're going on in different places. One of the things about those logistics is being able to find someone that you can trust globally, and being able to find someone that essentially you push a button and/or you get a request and then it happens in two weeks. It's one thing that gets taken off of your plate. Not you buy a camera and this is nothing against, smaller offices that buy their cameras and do their things. In that particular case, it worked very well to be able to engage Matterport, global network, capture services and say we need something in Amman, Jordan. I know that the first answer was we don't have anybody in Amman, Jordan. Let me get back to you. What capture services did? They got back to them and they found someone in Amman, Jordan, and in Bogota, Colombia, which was a little bit easier. That was one thing that when you're trying to manage a global organization that is trying to promote democracy in human rights. That knowing that you can call on Matterport to just get the tours done and help us make decisions. I think that had a huge impact. That's another one that I think in their first year they didn't necessarily know how rich that return on investment was going to be in just fewer headaches. I do think they're definitely planning on moving forward with Matterport Capture Services and they'll probably hit you with some challenges. I don't know if they're going to do anything in Antarctica or Iceland or some place that might be harder for you to get at, but I'm sure you'll get some challenges from them. [00:38:27] Rasika Savkar: -If a plane or a ship or something gets there, I'm sure that capture services can get there, but that's really great feedback here, Steve, and a testament to the expansive capture services that would built Matterport. I'm a little bit sensitive with time. I want to make sure we have adequate time for our third panelist here. But Stephen, in passing, maybe you alluded to certain ROIs early on in your presentation, but perhaps we summarize some of those benefits real quick. [00:39:08] Stephen Johnson: -This was a little bit tougher and I suppose ROI is often tougher to be able to track directly. But let's say I finally was able to pin some folks down and say $60,000 and you say travel costs. That's a pretty big deal. It was a little bit harder for them to map out the number of hours saved from people. Whether they were shifting from a procedure where they would normally all go to a site and then gather together for a meeting, and then gather together for another meeting. That in fact, that was much more like during the week, just visiting these sites individually and reducing the number of meetings. Cushman & Wakefield is a pretty good sized organization and it is difficult to think about how much you might have saved by reducing your meetings by 50 percent. But I think that fits into their category. Time is money. [00:40:05] Rasika Savkar: -Absolutely agree. That was stellar presentation, Steve. Thank you so much for being with us here today. With that said, we will turn our attention to our third featured panelist, Elizabeth. Welcome Elizabeth. We are so glad you could be here with us today. Similar to Bridget and Steve, Elizabeth, if you could just provide us a brief overview of your plans, portfolio and data needs and why you may have chosen to use Matterport as part of your solution for your client. [00:40:39] Elizabeth Singer: -Yeah. In August of this year, my client, Humana, acquired the remaining 60 percent portfolio for Kendra at home. That left us with 355 locations and two different needs. Number 1 was just the rebranding effort, which is mostly my lane. Just dealing with the sheer volume, it made it much easier to have a Matterport survey. Imagine the traveling and the reviewing for rebranding at each of those locations. It would be just excessive. Then we had the other piece which is the future occupancy planning needs for sites, any facility management needs. Those are the two prongs that we had to manage on our side. [00:41:37] Rasika Savkar: -Got it. We have some imagery here. Perhaps we can replay that video as we encourage you to answer our second question for you. Can you elaborate a little bit about how Matterport technology may have facilitated the data collection and collaboration needed or reduce the request for information or revisits to the side as you undertook this massive rebranding and signage program? [00:42:07] Elizabeth Singer: -Yeah. Just in general, every single location needed a brand book and so that brand book establish all the signage that needed to be replaced. On average, we spend about five to seven minutes reviewing the brand book once the designers have thrown at our way, five to seven minutes. That's 350 times with a lot of time. But imagine if you had to look at still photos or just plain documentation from a signage company telling you where the signage should go. This allowed us to actually have a sense of the space, how the business uses the space. A lot of our recommendations were justified by being able to see it in action like in a 360 format, we actually changed a lot of our recommendations, being able to just simply go in as a review team. We have a review team of about six people on average that we all sit on a call, so having it real time, having decisions made real time is critical when you're dealing with the volume that we have. Within that amount of time we also discovered some facility maintenance issues that needed to be. We found some housekeeping items from a lot of the locations having a change in staff and over, just needing housekeeping or updates to the space. We also identified sites that needed some minor renovations that would not have been within the scope of the signage vendor to call out. That's all very helpful in my lane. [00:44:03] Elizabeth Singer: Didn't have a whole lot of documentation for each of their sites. For the facility people involved today, this was their first experience even seeing the sites that they had maintenance. [00:44:18] Rasika Savkar: -Oh, wow. That's in the past. [00:44:19] Elizabeth Singer: -That was exciting for them, as well as it allowed Humana just to see what they purchased in their acquisition. [00:44:27] Rasika Savkar: -Well, yeah, absolutely. It seems like it fulfilled the data needs for multiple parties at once. A lot of board virtual tours, that's really great to hear. Perhaps Elizabeth you can elaborate. From my conversations with you earlier, we learned that there were some Matterport's downloaded and perhaps there that have to fulfill additional data needs elsewhere. [00:44:57] Elizabeth Singer: -Yeah. [00:44:57] Rasika Savkar: -Can you elaborate a little bit on that part at least? [00:45:02] Elizabeth Singer: -We have our Matterport share site that we hired a designer to come in and do a CAD conversion. We had to download the Matterport. I'm just going to say in my opinion, not an expensive ask for downloading. For what you get, it's certainly beneficial. We downloaded the Matterport for every single site and then had a CAD conversion provided to us that is being uploaded to Humana's share site that will be used for future occupancy planning needs. That's the main thing. As well as one other piece too is some of these locations were shared locations with a home health and a hospice. We're both currently using the space. These allowed us to understand how are the spaces needing to be separated, which was in a surprising benefit that we had not thought about previously. There was even a couple locations that have a different brand. Eventually it'll have a different name just for variety of reasons. This allowed us to share the links, have the people that needed to make decisions on the new brand and logo, get to understand with how the space is used and what signage needs to be replaced. [00:46:37] Rasika Savkar: -That's awesome. That's really great to hear. I'm glad that your customer, Humana, discovered Matterport and has been using it in a multitude of different ways to have access to as built real life data about their sites. Well, that has been incredibly insightful, Elizabeth. Thank you so much for sharing your story, your customer use case, in this case. Before we set up the live Q&A session for the remainder of the webinar, we will now like to field our third and final polling question, and then open it up with our in-house expert, [inaudible 00:47:23] for the live Q&A session. While we wait for our attendees to answer the third and final polling question, I have the results in for the second polling question that we built around the usefulness and interest about our featured products. It seems 25 percent of our attendees today were interested in the schematic floor bands and were likely to utilize that in the near future. An overwhelming 75 percent of our attendees seems highly interested in the BIB file offering. They're ready to use a BIB file that eliminates the need for any manual drafting in any CAD software. We also have the third and final question results here. According to our attendees, again, 67 percent of our attendees have expressed interest in learning more about the design and construction in these cases and the relevance of Matterport's technology for that particular use case. Then 33 percent of our attendees today would also like to receive information about the facilities management use case and applicability. We will definitely be sending some follow up materials after this webinar, as well as including a link to the recording of the webinar today. With that said, we will now open up for the live session for the remainder of the time. [00:48:56] Stephen Johnson: -Hi Rasika, thanks so much. Great webinar and great content. We are looking for questions. Don't be shy, everybody that has any questions for any one of our panelists, please do send them in. We did have a couple of questions come in throughout the presentation. One regarding, let me see if I can find it here, virtual staging. I mentioned that there are a couple of SDK partners, but what was interesting, Elizabeth you had mentioned, you do the signage. Is that something that you do yourself? Do you scan the Matterport model and apply the signage too on top of the Matterport model, so you can have really just an experience of what it would look like on site? Is there other works? [00:49:48] Elizabeth Singer: -Yeah, so 50/50. We have a signage partner, [inaudible 00:49:52] ultimately be the one to also do the installation. We're having the person that's going to be doing the installation, also the one going and doing your scans. They went and did the scan, sent it to us and the design team through that same vendor, created a brand book for every single site. We received that brand book and we identify, as a review team what all needs to be, the scaling of signage. We take measurements using the tools within the Matterport scan. [00:50:36] Stephen Johnson: -They actually process the scan themselves. They created the Matterport model themselves and provided you with what it would look like using this new signage? [00:50:43] Elizabeth Singer: -Exactly, which is far superior than looking at still photos with an overlay on top of that. [00:50:50] Stephen Johnson: -Yeah. The person who asked that unique, if you want to know more about that, go ahead and ask, if you want to know who that signage company is, that can provide such a full service experience. That's pretty cool. But I did mention in the chat that we'd also have some SDK partners who do provide virtual staging. This is just open-ended question to anybody. Bridget, I think more so than the rest because you did mention how the pandemic and whatnot, it's become just infinitely beneficial because you can run these campaigns. How do you see that going forward? Eventually, I hope the pandemic will be over. Do you see you continuing to do this and incorporate it into your campaigns? [00:51:44] Brigitte Bennett: -Interesting question. Thanks for tricky one, I appreciate it. I think we've seen a flurry of activity since lockdowns have been lifted. Everybody is excited, it's summertime over here in Australia and New Zealand, so everybody's getting out and about getting around the tours, interacting with people again after such, feels like a really long winter basically. I don't necessarily think that we'll continue to use the Matterport at the same capacity that we have done during the lockdown. I think what we will do is, it'll change that narrative a little bit in the sense of we'll continue it from an offshore perspective. We've still got pretty close borders and across Australia and New Zealand. We're still continuing to do a lot of capital market transactions, so I think we'll still see a lot of offshore interests from those buying hubs that we tend to see across the Asia Pacific region. From that perspective, I think we'll still keep using them. From the agency leasing side of things, I think the brokers do prefer to control that narrative a little bit more when taking people through tours of properties and things like that. What I would be really interested in exploring with the guys further, it's particularly the use of the mobile devices, the smart devices, and seeing if perhaps there's a couple of brave techs that we got out there that are looking to maybe use the mobile app to do similar tours themselves. I think I'd really love to see somebody do some voice-over in one of their tours as well. I think that also could be fun and interesting. I guess of people skills and aptitudes, sorry. I think it'll be interesting to see where it does go. I don't have a bar. If possible that if I did, I think I'd be very wealthy. But yeah, it'll be interesting to see what 22 brings us. [00:53:43] Rasika Savkar: -We are almost at time before we drop off. happy to take any last minute questions that maybe still coming in. But before we drop off, I wanted to personally thank the entire Cushman & Wakefield group of panelists here. Thank you, on behalf of Matterport. As well as our Matterport marketing and support team that has been working tirelessly behind the scenes to make this webinar happen. Thank you to the entire team here, and thank you to our attendees for making time for this webinar. We really appreciate it. [00:54:20] Brigitte Bennett: -Thanks for having us. [00:54:21] Stephen Johnson: -Yeah, we're at the top the hour. I'd like to extend that as well and thank you everybody for attending and to Cushman & Wakefield for helping us out. [00:54:31] Stephen Johnson: -Thanks for having us. [00:54:33] Elizabeth Singer: -Thank you. [00:54:33] Stephen Johnson: -Take care everybody. [00:54:35] Elizabeth Singer: -Bye.
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Video: Why Cushman & Wakefield integrates Matterport into their workflow15284