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JLL's (NYSE: JLL) innovative approach to product development has not only saved clients more than $150 million, it has also just earned one of the corporate real estate industry's most sought-after awards.
JLL's global Innovation and Product Development (IPD) platform received the prestigious 2016 H. Bruce Russell Global Innovator's Award during the recent CoreNet Global Summit in Philadelphia. The honor, which is voted on by heads of real estate from leading global companies, recognizes excellence and innovation in corporate real estate.
The IPD platform is JLL's corporate real estate collaboration and crowdsourcing process that creates new products and services to benefit clients through sourcing, vetting and productizing ideas. It seeks solutions to specific business challenges through events such as innovation workshops, idea campaigns and JLL's internal Da Vinci program that crowdsources new ideas that benefit JLL and its clients. Earlier this year, the IPD platform also received the 2016 CoreNet Global Professional Excellence Award.
"Innovation is essential for all organizations to stay competitive, and it does not happen by chance," said Doug Sharp, President, Corporate Solutions, JLL. "Bringing ideas from inception to impactful results requires a disciplined, focused, yet accessible approach. With our IPD platform, we embrace and power a cycle of innovation that significantly impacts the companies we touch."
Over three years, ideas developed through JLL's IPD platform have saved clients more than $150 million in costs and improved productivity by 20 percent. More than 35 new real estate and workplace solutions and 1,500 best practices have been developed and implemented through IPD. They have helped JLL's clients control costs, optimize their real estate portfolios, mitigate risks, promote sustainability and enhance their employees' workplace experience.
"The IPD platform is unique to the industry," said John Forrest, Global and Americas CEO, Corporate Solutions, JLL. "It is used in 80 countries and leverages proprietary technology and the collective experience and ideas of JLL's 60,000 employees. The platform gives form to the innovation process, driving sustained and disruptive innovations that help JLL better serve its clients. Our clients need us to drive operational excellence, digitize the workplace and enhance employee experience, and the IPD platform enables this."
The IPD platform is the latest of JLL's innovations to earn national recognition, furthering its standing as a leading real estate technology company. Previously, the company was named to the 2016 InformationWeek Elite 100, marking the fifth consecutive year that JLL was named to the list of top business technology innovators in the United States. JLL was the highest-ranking real estate company on that list. JLL was also recognized as a 2015 Global Innovator's Award finalist for Aix, a business intelligence tool that measures and improves the financial and operational performance of facilities and the facilities management function.
The Global Innovator's Award recognizes excellence and innovation in corporate real estate. Since 2000, the annual award has honored game-changing individuals and companies whose work, ideas and best practices elevate the practice of corporate real estate. Nominees for the award are chosen from submissions in three categories—Sustainable Leadership, Economic Development and Industry Excellence.
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