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Monday, April 15, 2024

Why Facilities Management is Important

Every component in a firm must provide assistance for it to function properly. However, as your company grows and becomes more sophisticated, there will be more gears to maintain. A facilities manager’s job is to keep control of them all. Facilities management perks can be seen across the board, from the income statement to the corporate culture.

Managing workplaces provides facility managers with a wealth of information about possibilities and inefficiencies. Take a look at the most important advantages of proper facility management and how it would help a company run more efficiently.

Asset Management and Tracking

Spreadsheets are about as complicated as it gets when it comes to keeping track of assets and budgets.

Consider the expense of a photocopier over the course of a year. Before current Integrative Workspace Management Systems or Enterprise Wealth Management platforms, here’s how you might have figured it out:

  • Yearly maintenance logs can be found online.
  • Invoices and maintenance logs should be compared.
  • Examine copier supply procurement orders.

In this case, you’ll need to look through 3 distinct spreadsheets or documentation archives in order to estimate the annual operational cost of a single item.

Facilities Management
Image Source: Pexel

Optimisation of space

You may have a 4,200-square-foot lease, but what and how much are you really using? One of the most important advantages of facility management software or a facility management company Australia based is understanding exactly what you’re receiving for your investment and how to maximize it.

Assume you’re just using 3,200 square feet. That’s 1,000 square feet of wasted space. Information can be used by facility managers to determine A) why a facility isn’t currently utilized and B) what it could be employed for. The greatest approach to reclaim your square footage and capitalize on it to increase revenue is to use FM data.

There’s also the reversal of the scenario to think about. Should you move to a larger area or adapt your present design layout if you’re using 4,000ft2 and the walls are pressing in? Data from facility management will once again point the way. Introducing a new floor design or flexible desking solution might save you thousands of dollars per month while also providing the additional capacity you require—all without increasing your overall square footage.

The cost of your physical workspace is your most significant single overhead expense. The distinction between your buildings being a cost center and a competitive edge is maximizing value.

Analyse the costs

Everything else in the workplace is governed by cost. It’s crucial to know what something costs or what recurrent expenditures your firm confronts, but these figures are insignificant in comparison to the entire cost of doing business. Facilities management research gives you a clear picture of the true costs of running your business.

Understanding how much room you’re using vs the cost of your lease will reveal the true cost per square foot. You can then calculate other costs, such as the price per hot desk vs use. Once you begin to look at specific costs and their impact on the firm, you’ll find a wealth of information.

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