Agile Portfolio Evolution | Digital Transformation Services
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Related Companies is the most prominent, privately-owned real estate firm in the United States. Founded nearly 50 years ago, Related is an industry leader with experience in virtually every aspect of real estate development, including acquisitions, management, finance, marketing, sustainability, and sales. Headquartered in New York City, Related has offices and major developments in Boston, Chicago, Los Angeles, San Francisco, South Florida, Washington D.C., Abu Dhabi, and London — including the 28-acre Hudson Yards neighborhood development on Manhattan's West Side, The Grand and Related Santa Clara in California, and The 78 in Chicago.
Currently operates over 350 properties around the globe with nearly 80,000 units under ownership
One of the largest developers, financiers, and preservationists of affordable and workforce housing in the U.S.
Over $60 billion in assets owned or under development
When Softtek first met Related in 2016, it was in the process of rethinking its IT approach and searching for new ways to generate more value and better time to market from its IT spend. While historically some of Related's IT had been outsourced in various forms to multiple providers, the benefits of working with and managing a single, full service, automation-first technology services provider, like Softtek, became obvious. With this approach, Related could save time, money, and boost its ability to innovate. After a visit to Softtek's Aguascalientes, Mexico, delivery center, to learn about its methodologies, engineers, platforms, and infrastructure, the choice was clear.
1 Transition Related's IT infrastructure support (including help desk services) to a third-party service provider to save time and money and increase coverage.
2 Automate manual andtime-sensitive processes across Related's global operations to save time and money, increase security, and free up bandwidth for innovation investments.
3 Lay the groundwork for Related's corporate hyperautomation journey and building-related Smart Technology initiatives.
Softtek quickly assembled the teams for Related's infrastructure, networking, and help desk services. Once the teams were operational, Softtek started developing the blueprint for hyperautomation. At Related, the vision for hyperautomation included automating as many manual and IT processes as possible to create efficiency, transparency, and business agility across the whole organization.
Softtek's cognitive automation platform, FRIDA, was the perfect fit for Related's hyperautomation needs and allowed the enterprise to harness Softtek's various AI modules, pre-configured intelligent bots, and machine learning capabilities. After the success of initial projects, Related was able to build a business case for continued investment in its hyperautomation vision.
To date, FRIDA has automated 71% of Related's ITIL tasks, impacting hundreds of business processes within the enterprise, representing considerable savings in time and money. With the overall success of Softtek's FRIDA platform, Joseph Rich is now setting a new goal: to automate up to 98% of ITIL tasks in 2021. Joseph noted, "We want more helpdesk avoidance on existing systems, and we want the team to be working on new, high-value projects. There is such a demand within real estate to automate and connect different datasets.