10 benefits of facilities management software
The evolution of facilities management software has transformed the way businesses operate.
Facilities management (FM) software provides a centralised platform to manage all facilities activities. This helps businesses and facility managers streamline their operations, reduce costs, and improve efficiency.
Despite the rising worldwide adoption of FM software, many facility managers are persisting with manual approaches to facility management, making them miss out on the incredible benefits this technology offers.
Read on to discover 10 of the biggest benefits of facility management software for your business.
- Financial Control.
- Project Management.
- Property Management.
- Overseeing Contractors.
- Mobility and Collaboration.
- Employee Wellbeing.
- Asset Tracking and Management.
- Regulatory Compliance.
- Better Business Decisions.
- Space Optimisation.
What is facilities management software?
Facilities management software is a tool that enables businesses to manage and track all aspects of their facilities in one central location. With features of asset management, project management, compliance monitoring, and more, this software can help streamline operations and improve efficiency.
MRI Software offers FM software as an innovative solution to facility management. Our cutting-edge facilities management software includes numerous features that will enable your business to increase efficiency and make data-driven decisions.
Facility management software benefits
Facilities management software features will transform the efficiency and effectiveness of your facility management. From improved financial management to employee well-being to space optimisation, utilising FM software will have a beneficial impact on your business.
We have outlined the top 10 benefits of facility management software for your business.
1. Financial control
Better management of business finances is one of the primary benefits of facility management software.
Effective financial management in a business can help ensure long-term stability, enable businesses to make informed decisions about strategic initiatives, reduce the risk of financial problems and protect their assets.
Here are a few ways that facilities management software can help companies organise their financial obligations:
- Manage Purchase Orders: Facilities management software streamlines the management of purchase orders. This ensures you have total transparency over your orders and that all payments are correctly allocated.
- Quote Management: With FM software, you have complete control over quote management. You can easily compare supplier quotes to select the best supplier for your business. You can also efficiently deliver your own quotes to customers.
- Invoicing: Facilities management software includes flexible sales invoicing solutions that are mapped to your exact contractual requirements. All invoices for everything you use are handled automatically by your FM system.
Facilities management software can also effectively assist your business to reduce costs. With this software, facility managers can track expenses and budgets, and forecast future costs. This helps with making informed financial decisions, reducing unnecessary spending, and staying within budget.
2. Project management
Facilities management software can help manage and streamline projects, making project management significantly simpler.
This software provides real-time updates on project status and identifies areas for improvement. By providing a straightforward task grid, facility managers can easily schedule tasks, track progress, and proactively determine the reason for any delays.
3. Property management
Property management features can help businesses manage their properties more efficiently and reduce expenses.
This software can help track lease agreements, manage maintenance and repairs, and keep track of all relevant documentation.
This is particularly useful for facility managers responsible for multiple properties. By having all information in one place, facility managers can save time and ensure no payment is overlooked or rate change is ignored.
Maximising the potential of your property portfolio is another great advantage of facilities management software. Having a clear picture of all property data enables you to compare property information and can inspire improvements from one site to another.
For example, if one property is saving significantly on electricity costs due to a particular insulation, you can then make changes to another property to reap the same benefits.
By bringing BIM data into the mix, facilities management software can harness these visual models to help facility managers identify assets throughout a site, identify space optimisation opportunities, and generally improve a building’s long-term performance.
4. Overseeing contractors
One of the top benefits of facility management software is that this software can help with overseeing contractors.
We have briefly outlined how facilities management software can make overseeing contractors easy, efficient, and cost-effective:
- Improved Contractor Management: The software can help businesses effectively manage their contractors to ensure work is completed on time and within budget.
- Automated Workflows: The software can save time by automating workflows, such as issuing work orders, tracking progress, and approving work.
- Cost Savings: By having a clear overview of contractor work and expenses, businesses can identify opportunities to reduce costs and negotiate better rates with contractors.
- Improved Communication: The software can facilitate better communication between businesses and their contractors. This can help reduce misunderstandings, build stronger relationships, and improve the quality of work.
5. Mobility & collaboration
Facilities management software can also improve mobility and collaboration among employees.
With this software, facility managers can access information from any location and on any device. The single digital dashboard allows facility managers to easily access information and make timely, business-critical decisions.
FM software also makes it easier to collaborate with team members and stakeholders. As everyone can see the same data, you can seamlessly discuss these with relevant colleagues and reach a consensus on what steps you can take to improve performance.
6. Employee well-being
Facilities management software can contribute to employee well-being by helping businesses create a safe, comfortable, and efficient workplace.
One way facilities management software can help employee well-being is by managing the temperature, humidity, lighting, and air quality in the workplace. By maintaining a comfortable and healthy indoor environment, businesses can improve employee productivity and well-being.
FM software streamlines facilities management processes, reducing the administrative burden on employees. By reducing the workload on employees, businesses can improve job satisfaction and reduce the risk of burnout and stress.
7. Asset tracking & management
Facilities management software can provide a centralised asset register that includes detailed information on all assets, including location, status, and maintenance history. This can help businesses track and manage their assets more effectively, reduce costs, and improve efficiency.
With this comprehensive overview of all assets across your facilities, the software allows you to:
- Automate services and maintenance of assets to reduce the risk of breakdowns and downtime.
- Make more informed decisions about when to repair, replace, or retire assets.
- Optimise your use of your business assets.
- Reduce the risk of asset theft or loss.
8. Regulatory compliance
Facilities management software can help track regulatory compliance. This helps ensure your business’s financial well-being and maintain your reputation with your customers.
Facilities management software helps ensure you’re never at risk of non-compliance. From fulfilling your SLAs to satisfying your PFI and PPP obligations, the software will provide you with early warnings of potential liability risks. This allows you to take immediate action to correct these.
In addition, an effective facilities management software solution will also allow you to store SFG20 data in line with the standards you’re expected to reach. This removes any risk of failing to comply with your objectives.
9. Better business decisions
Facility management software provides valuable information to inform your business decisions.
The data and insights provided by the software can help businesses identify areas for improvement and optimise operations. This includes identifying potential cost savings, increasing understanding of employee performance, planning asset maintenance and repairs, and more.
Facilities management software will generate custom reports based on the data. These reports can then help you present important data or trends to management, colleagues, clients, and decision-makers.
10. Space optimisation
Facilities management software helps optimise space to better suit business needs, save expenses, and enhance employee experience.
The space management feature of facility management software allows you to maximise occupancy, identify underutilised space, and reconfigure spaces. You can also organise meeting places and remove the risk of double-bookings through a facilities booking suite.
How to choose the right facilities management software
The importance of facilities management software demonstrates that you need to be considerate in the selection of your FM software.
To choose the best FM software, look for software that includes the features that are most important to your business. The software you choose should also be able to scale with your growing business. Finally, choose FM software that is intuitive, easy to use, and has good customer support.
MRI Software offers the total solution for your facility management software needs. Get in touch or book a personal demo to see how our FM software is the right choice for your business.
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Facilities Management software
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Businesses of all sizes and industries can use facility management software. Facility managers are the primary users of this software, but property managers and maintenance teams can also use it.
The core objectives of facility management software are to streamline operations, improve efficiency, and reduce costs associated with managing facilities.
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