We are excited to announce that Aimazing has successfully completed a Proof-Of-Concept (POC) with Hong Leong Holdings Limited (HLHL), a local commercial and retail property manager, under the Enterprise Singapore Southeast Asian Open Innovation Challenge (SEA OIC)!
This marks an important milestone for both Aimazing and HLHL, and is an important step to enable the enterprise to save time and effort on manual processes, make better decisions for the business and to better support tenants with real-time data analysis.
Background & Key Results
Hong Leong Holdings Limited (HLHL) has over 250 tenants, majority of which are commercial tenants. There is a lack of integration of a POS system that would have collected user data for leasing teams to stay informed on tenant performance, and in the case of Covid-19, make accurate decisions on the amount of rental waivers and rebates to be given to each tenant. In addition, the lack of digital processes within the company makes tenant management tedious and time-consuming. Many processes are still paper-first, both between tenant and landlord, or between internal departments.
Leveraging On Enterprise Singapore SEA OIC
In Feb 2021, Aimazing entered the Southeast Asia Open Innovation Challenge (SEA OIC) organized by Enterprise Singapore, whereby over 300 applicants from 38 countries presented innovative solutions to solve the most pressing challenge statements from large conglomerate companies. There, we emerged as one of 5 participants to be matched with the participating conglomerates (Hong Leong Holdings Limited).
Hong Leong Holdings Limited used this challenge to seek a digital tenant management solution to allow the leasing team to deliver better customer experience, enable transparent landlord-tenant communication, and improve efficiencies between departments and with tenants.
Aimazing used their proprietary Internet of Things (IoT) hardware and software to provide full transaction visibility without a need for POS integration. The goal was to implement the solution without any disruption to tenants’ operations or the retail and building systems in place
We’re pleased to announce that the pilot project was successfully completed. The full report from the Proof-Of-Concept shows data completeness & data accuracy stands at 99.99%.
Next Steps Forward
Following the successful pilot, both Aimazing and HLHL are currently pursuing a long-term commercial agreement to cover HLHL’s helm of more than 250 tenants within their commercial and residential properties.
This partnership will help empower a win-win relationship for both tenants and landlords within HLHL, allowing them to leverage on our proprietary technology to digitalise and save time and effort on manual tenant management processes. It also allows Leasing Teams to stay informed on tenant performance and make accurate decisions about rental waivers and rebates given to each tenant. The full data visibility will also now enable tenant subsidies, support and co-promotion discussions, plus provide benchmarking reports as per Fair Tenancy guidelines.
When The Imagined Becomes Reality
We are proud that another important local player is taking the steps towards digitalisation and complete data visibility - and our goal is to enable more than 10,000 additional data points across malls and retailers in the region in the next 12 months.