Iconic Washington D.C. Building Uncovers Value with P3
One landmark property in Washington D.C., providing office space to high-profile business firms, knows its value is intrinsically tied to its reputation. The visually vibrant, 12 floor, 246,000-square-foot building welcomes hundreds of visitors and vendors to the property each day. The sheer volume of traffic entering and exiting the building places property the at a higher risk for liability from incidents.
With the average payout in small claims court against a business for just one slip and fall lawsuit averaging $15,000, having the right security measures in place to reduce incidents is essential in ensuring building safety and maintaining tenant satisfaction. To preserve their reputation as D.C.’s premier office space, the management team integrated The P3 Technology PlatformSM to implement additional measures to improve safety and reduce their liability without adding additional security personnel.
Creating a connected security force, the advance technology of P3’s platform complements the training, skills and customer service of onsite security. Analysis of the data captured in first quarter since implementing the platform revealed a significant downward trend in security violations with fewer safety issues for the high-profile property. Following this trend, P3 is expected to save the property an estimated $2 million in safety related cost and liability avoidance.
With P3 Mobile and its customizable applications at their fingertips, Security Officers leverage the data capture and AI capabilities of the platform to proactively manage security and safety exceptions. Preemptive safety checks and AI driven tours ensure the right officer is in the right place. Issues entered into the P3SM system are routed for immediate resolution by the building’s management company and maintenance crew. Integration with P3 allows Officers to proactively identify potential hazards that previously cost the property thousands in liability.
P3 continues to provide additional value to client and facilitate better management practices. A representative of the management team said, “We depend on the data of P3 to hold individuals accountable, financially or criminally. The captured documentation provides us the necessary information to make sound property management decisions on a daily basis. Our experience with P3SM technology has been eye-opening and alleviated the pain points that were so challenging working with other security companies we have used in the past.”
The downward trend in security violations, coupled by fewer safety issues has generated exceedingly favorable outcome. Overall tenant satisfaction has increased which has resulted in fewer vacancies. With available space at a minimum, value is at a premium, this iconic D.C. building has solidified their reputation as one the most highly sought out, coveted office spaces.
- $67,064 in savings as a result of the P3 driven fire safety measures by reducing the risk of fire from ovens and heating elements being accidentally left on.
- $45,000 in potential litigation eliminated against the site due to the improved and proactive reporting of slip and fall hazards.
- 20% reduction of inaccurate vendor services. Reporting accuracy boosted the amount of revenue the property has collected from tenants violating contractual agreements.
- 30% reduction in parking issues that block emergency access save the property thousands of dollars in fines from metro Washington D.C. police.
- Smart sensors enabled Officers to remain situationally aware and proactively engaged.
- Prompts to check equipment and areas for exceptions have reduced the impact of on-site hazards.
- With the customized mobile applications and a blue tooth printer Officers check in visitors and vendors, print parking tickets and check safety equipment.