Software takes the headaches out of shop fit-outs
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AUSTRALIAN software to manage retail tenancy fit-outs is preparing for an international launch.
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TC Pinpoint is a startup based in South Australia that eliminates the need for phone calls, spreadsheets, paper reports and documents by pooling them on the cloud.
The program gives all stakeholders, designers and tenants real-time access to important data, ensuring that each tenancy is reviewed and meets appropriate design guidelines.
Former tenancy consultant Rachel Kidwell developed TC Pinpoint after noticing shortfalls with conventional practices.
She said some projects could involve more than 20 different consultants, from retail designers and architects to engineers, which made efficient collaboration difficult.
This meant longer wait periods for important information such as commercial terms and shop designs.
Kidwell said TC Pinpoint increased productivity by up to 150 per cent and send reminders to each consultant to make sure schedules were kept.
“For every tenant that doesn’t open on time in an operating centre, you are averaging about AU$6000 a week that the landlord is losing as a result,” she said.
“It’s applicable to anywhere there is a cluster of retail stores like airports and office fit-outs.
“It’s a new space at the moment but we already have a few projects ready for this year and I’m confident we will meet our targets.”
TC Pinpoint is being used to help redesign the tenancy process at Harbour Town Melbourne Shopping Centre.
Harbour Town is a large open-air outlet mall that already operates two other facilities, including one in South Australia’s capital Adelaide.
Kidwell said while it was focused on its domestic operations at the moment it had plans to export its services in the next 12 months.
“Ultimately the idea of the product is that anyone, anywhere in the world, could log in and create their own workflow by virtue of our predefined system,” she said.
“It could be accessed and applied from country to country because it’s on the cloud and the workflow is the same, even though sometimes the terminology might be different.”
TC Pinpoint has received a number of grants including AU$50,000 and $30,000 from the University of South Australia’s Venture Catalyst and Southstart accelerator programs respectively.
Last week it was included in the South Australian State Government’s Early Commercialisation Fund, which could awards recipients with up to $500,000 in funding.
Kidwell said the financial support of the accelerator programs along with the government funding would be key to scaling up the software and preparing it for an international push.
According to the Construction Intelligence Center, the global retail construction industry is projected to grow to US$10.3 trillion in 2020 with emerging markets forecast to continue to grow at a much faster rate than the advanced economies.
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