The Open Standards Consortium for Real Estate (OSCRE) has signed an agreement with CoreNet Global to advance the use of technology to benefit the commercial real estate industry and each organization’s members.

The two groups plan to become better acquainted with each other’s goals and to use their membership expertise to deliver best practices in using technology and in sharing data.

OSCRE and CoreNet Global will collaborate and coordinate their research and development efforts in order ensure that standards are reached and maintained in their areas, according to the groups.

CoreNet Global has long been committed to standardized data use for corporate real estate, says Richard Kadzis, vice president of strategic communications at CoreNet Global. “Real estate information technology that integrates with the enterprise is now more critical than ever with more complex lease accounting standards taking shape, so OSCRE’s mission has never been more important in this regard.”

“OSCRE has had a long and close relationship with CoreNet Global and this agreement is the natural next step for both organizations,” says Catherine Williams, chief executive at OSCRE. Both organizations already are working on different aspects of measuring and benchmarking real estate standards and processes.

OSCRE is a not-for-profit market led initiative that aims to increase productivity through the development and delivery of commercial real estate standards among property owners, tenants, occupants, investors, developers, vendors and other groups, to enable the industry to function more efficiently in the digital economy.

CoreNet Global, a professional association for corporate real estate and workplace executives, service providers, and economic developers, has more than 7,000 members.