Technology innovations in facility management

Introduction
Technology has transformed the way we live. While it is revolutionizing the way, we communicate and interact with one another, it's also affecting how businesses stay competitive in the 21st century.
In the modern world, companies need to stay on top of their game, which involves being technologically savvy. To help them do just that, facility managers are increasingly turning to new technologies- and there's no shortage of choices out there. They keep your facility running efficiently and effectively, subsequently shifting to integrated business management.
Why is the traditional way of facility management inefficient?
Typically, a facility management company works in isolation and plans individual projects based on clients' requirements. Using a traditional approach means that there is no effective way to measure the facilities' overall efficiency and thus improve upon them. It also lacks integration and standardization across facilities.
The traditional way of managing facilities is inefficient and time managing which requires accuracy in data collation for billing/Invoicing in varies stages of the operational process /approvals, that impacts both top and bottom line of revenue. Inefficient facility management, on one hand, causes in loss of revenue. On the other hand, it leads to rising input/operational costs which takes a toll on the Business P&L. Here are some challenges in the traditional way of managing facilities:
1. Loss of revenue due to revenue leakage:
Manual processes of capturing inputs of attendance and work completion leads to errors, and delay in approvals and invoicing. It causes incorrect billing and direct or indirect revenue leakage.
2. Increased cost due operational inefficiencies:
Sub-optimal utilization of resources causes inefficient allocation. Work orders can have a negative impact on the bottom-line and service deliverables.
3. Monitoring and tracking KPIs:
While managing large facilities it becomes cumbersome to aggregate data manually and create meaningful dashboards to track important KPIs through conventional methods
4. It is more time consuming:
The traditional method of facility management involves a lot of paperwork and manual work which consumes more time and effort than software-based paperless operations.
5. Lack of minute-to-minute coordination:
In a conventional working style, it becomes difficult to manage small but substantial activities, especially when you have a large staff.
6. Difficult for managing services at a ground level:
If you have multiple branches and service types, it is difficult to manually manage operations. It is inefficient and error prone.
7. Not suitable for all business types:
This working style is not suitable for all the corporate segments because most businesses require real-time data, which advanced software technology can achieve only in one click.
Possible solutions to revamp integrated facility management
The world has changed since 2020. Facility managers have had to adapt on the fly to accommodate a global pandemic that upended virtually every aspect of daily life. Now they are facing another challenge: the return of workers to office buildings following a prolonged period of remote work.
To meet these challenges and succeed in an ever-changing environment, facility managers need modern solutions that improve efficiency and support employees' safety and wellbeing.
Strategic execution through effective techniques
Strategic execution involves integrating business objectives with organization-wide data to improve efficiency and productivity. Strategic space planning tools allow for automated data collection, on-demand reporting, and continuous monitoring of office utilization. These tools provide a bird's eye view of how employees use facilities across multiple locations and help facility managers optimize the available space by considering changing needs over time.
Using Enterprise Asset Management software
This software helps facility managers manage equipment maintenance in real-time and automate asset tracking across departments or locations. It provides stakeholders with complete visibility into repair schedules, maintenance costs, downtime, and other metrics required to make informed decisions about facility investments. Hence, Enterprise Asset Management is a boon for the present management world.
Smart building technology
Smart building technology refers to employing solutions that use data to improve building performance and operations in a commercial or industrial setting. These kinds of smart building technologies are often used in facility management for their soft and technical services along with other allied services. Integrated facility management helps manage building operations. It includes everything from security to janitorial services, to their technical services, to foodservice and more.
Conclusion
For managing a facility, traditional decision-making methods are often time-consuming and inefficient. Facilities managers spend 95% of their time on administrative activities, such as budgeting, planning, and scheduling. That's why many businesses are trying to find ways to streamline their operations and increase productivity. Many have turned to technology to boost productivity among all levels in the organization.
Employing the latest technology in facility management can help you improve operations efficiency and smoother decision-making, reduce cost, increase profitability, critically analyze through articulate dashboards. It can also help enable quicker communication and workflow processes for effective running of operations and efficient services deliverables.
- Others
- Technology
- Products & Services
- ERP On Cloud
- Industry Solutions
- Cloud Technology & ERP
- Latest Trends
- Aviation
- Best Practices
- ERP Know More
- Ramco ERP Suite
- Global Payroll
- ERP
- Global Payroll And HR
- Implementation Strategies
- Ramco Aviation Suite
- Newsroom
- On-premise ERP
- Payroll Software
- Payroll Services
- News
- Logistics
- Media Coverage
- Ramco HCM Suite
- Chatbots
- Business Intelligence & ERP
- Events
- Marketing & Communications
- Services
- Ramco Analytics Suite
- Multicountry Payroll
- Enterprise Resource Planning
- Employee Experience
- Payslip Queries
- Logistics Service Providers
- Magazine Articles
- Knowledge Bank
- Payroll Compliance
- Ramco Systems
- ramco
- Artificial Intelligence
- Aviation ERP
- Aviation MRO Industry
- MRO
- Manufacturing
- Supply Chain
- MRO Aviation Software
- MRO Solution
- Machine Learning
- Logistics Software
- Press releases
- Case Studies
- Payroll Outsourcing
- Payroll Solution
- Cloud
- LSP
- MRO Task Cards
- Aircraft Maintenance
- Contributing Authors
- ERP solutions
- Infrastructure
- Logistics Automation
- BFSI
- Big Data
- Data Analytics
- Ramco GRP Suite
- Airlines
- ERP Benefits
- Services ERP
- Types of ERP
- Data Science
- Integrated Logistics Software
- RAMCO ONDEMAND
- Supply Chain Management
- Supply Chain Visibility
- Digital Transformation
- ERP Implementation
- Employee Engagement
- Ramco OnDemand erp 2.0
- Digital Strategy
- Helicopter Maintenance
- Logistics for e-commerce
- OEM
- Other
- Payroll
- helicopter
- helicopter mro
- Aviation Maintenance
- Cloud ERP
- Cloud Financials
- Defence and Civil aviation
- HCM
- IoT
- Payroll Managed Services
- Project Management
- Ramco Logistics
- Time and Attendance
- Transportation Logistics
- Uberization of Logistics
- Work from home
- Analytics
- Asset Management
- Australia Payroll
- Auto
- Automation
- Aviation Analytics
- Aviation Compliance
- Aviation system
- BPO
- Business Intelligence
- EFB
- ERP for Cement Manufacturing
- ERP for Manufacturing
- ERP for Services Industry
- ERP for Staffing Companies
- Financial Analytics
- HR Tech
- International Aerospace and Defense
- Inventory Management
- John Stone
- Mobility
- Paperless Operations
- Payroll Implementation
- Payroll Processing
- Payroll Service
- Professional Services
- RODE 2.0
- Ramco VirtualWorks
- Ranganathan Jagannathan
- SaaS
- Services Industry
- Videos
- Visibility in Logistics
- Warehouse Management
- 3PL
- AOG
- Asset Lifecycle
- Augmented Reality
- Aviation IT
- Aviation MRO
- Aviation industry
- Billing Management
- China Payroll
- Cloud EAM
- Covid-19
- Customer Expectations
- Customer Support
- Data Security
- Dealer
- Digitalization of Asset Management
- Director
- EPC
- ERP System
- Electronic Flight Bag
- Enterprise Process Solutions
- Equipment Rentals & Services
- Facility Management
- Financial software
- Global A&D
- HR
- Heli-Operators
- LSAP
- Lean
- Logistics Billing
- Logistics and Shipping
- MRO Operation
- Malaysia Payroll
- Performance Management
- Predictive Analytics
- Product & Market Management
- RAMCO ONDEMAND ERP
- RPA
- Ramco Aviation ERP
- SOA
- Talent Management
- Viswanathan Anand
- Warehousing
- Warehousing Software
- Warranty Management
- Work Culture
- cement
- empathy
- 2.0 technologies
- 24/7 customer support
- 24th Rallye Aiche Des Gazelles Du Maroc
- AAS
- AD
- AR
- Accelerated Transformation
- Air Traffic Control
- Airline
- Airline MRO
- Airline Maintenance
- Airworthiness Directives
- Analyst
- Analysts
- Andhra Pradesh
- Assembly
- Assurance
- Australia
- Automated Payroll
- Automobile
- Aviation Maintenance Software
- Aviation Software
- Aviation Supply Chain
- Aviation solutions
- B2b Sales
- BCP
- BI
- BPEL
- BPO Centre
- BPO services
- BPO solution
- BPP
- BYOD
- Balaji Swaminathan
- Balanced Scorecard
- Bar Code
- Basic HR Systems
- Benefits of ERP
- Blockchain
- Business Analyst
- Business Continuity Planning
- Business Empathy
- Business Process Outsourcing
- Business Process Platform
- CFS
- CRM
- Calibration
- Car
- Chandrasekar Vijayakumar
- Change management
- Cherlapally Central Jail
- Chess Champion
- Cloud Customization
- Cloud Security
- Coach
- Common Receiving Document
- Competitive Intelligence
- Composition
- Consulting
- Container Freight Station
- Contract Workforce
- Contract Workforce Management System
- Cost Management
- Cultural Constructs
- Customer Expectation Management
- Customer Management Insights
- Customer Support Myths
- Customer intimacy & other value disciplines