Five Ways Facility Managers Can Improve the Bottom Line

April 22, 2015  •  Jamie Gregory

In today’s economy, every organization, whether large or small, is looking for ways to save money. Facility managers are in a unique position to have a positive impact on the bottom line. That is, if they have a good facilities management (FM) software solution that can help them identify and take advantage of cost-cutting opportunities.

There are many FM software packages on the market today. Here are some tips to help you choose the most effective one so that you, as the facility manager, can take a leadership role in lowering costs to boost your organization’s bottom line.

1. Determine the type of data you need to better analyze your costs.

In order to choose the right system to fit your unique needs, choose an FM solution that will give you the solid information you need to make sound decisions. It should help you analyze space utilization and spending trends across time in order to determine where cuts can be made without sacrificing resources and efficiency.

2. Closely examine areas that may not have been considered before.

While immediate cost reductions are certainly the goal, don’t pass over good opportunities just because the rewards will be months out. The need to lower costs will likely always be a consideration. Your FM software can help you readily identify these opportunities so that you can take decisive action. For example, perhaps the data in your FM software shows that the repair cost for a particular equipment item has gotten quite expensive. Replacing that equipment item may be the most cost effective solution.

3. Turn off systems and equipment when not in use.

You can save thousands in operating and energy costs if you track facility events and schedule your building systems accordingly. Compiling this data in one single location makes it easy to determine which systems need to be running – and when – and which can be switched off. Your FM software can also help you schedule and keep track of after-hours events so that you can invoice outside organizations for the use of your facilities – perhaps an untapped revenue stream for you.

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4. Develop a regular maintenance schedule.

You need a maintenance plan to keep your equipment in perfect shape and running efficiently. Your FM software should help you easily keep track of preventive maintenance for all systems and equipment. This will pay dividends in energy savings over the long haul. In case you missed it, check out our recent blog post to learn how FMX can help you lower your utility costs.

5. Keep good records and examine your spending patterns.

The FM system you choose should maintain a history of all inspections and repairs. Software that utilizes time and date stamps, as well as a record of who performs the inspections, is desirable. It may also help you examine spending patterns across all your facilities, perhaps highlighting opportunities to consolidate vendors. By managing work orders efficiently, you will also be able to group some work together and provide more lead time to contractors, resulting in lower costs.

Englewood results

With a good FM solution like FMX, you will have, at your fingertips, the data and information you need to analyze facility and equipment costs, and the means to establish strategies and take action to reduce expenses.

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