The ENTOUCH Blog

03. 19. 2018

Are You Really Making a Profit in Facilities Management Smart Tech: Part II?

The facilities condition assessment must also use surveys to generate a comprehensive image in assessment of profitability.

Part One of this series focused on identifying the major expenditures associated with Facilities Managers as part of a facilities condition assessment (FCA), reports FM Link. After Facilities Managers have conducted a comprehensive and holistic FCA, the findings can be compared against the potential savings of facilities management smart technologies to determine if you are really making a profit in facilities management smart tech. In other words, is your facilities department a cost center or a profit center? Let us take a closer look at the steps necessary to answer that all-knowing question.

Deploy Analytics and Use Big Data to Compare Your Facility’s Performance Against Industry Averages

Facilities Managers that have deployed analytics and actively use big data and advanced analytics, including descriptive, predictive, and prescriptive analytics, can compare facility performance against industry averages. Unfortunately, industry averages vary heavily, so it is best to compare your organization’s averages against benchmarks in the industry or within other parts of your organization.

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Conduct a Customer Satisfaction Survey

Facilities Managers must also evaluate the public image of the company. This is achieved by conducting a customer satisfaction survey, and due to the bias of some customers, there is a margin of error. Facilities Managers should seek to use broad, easy to understand measurement tactics, such as ranking cleanliness or professionalism of the facility and its employees on a scale of 1 to 5. This helps to reduce bias associated with public surveys. Facilities Managers must also survey internal team members, service providers and operators for satisfaction and ease-of-use of facility systems.

Unfortunately, even this type of assessment does carry some bias. Team members are more likely to rate facility asset performance and systems based on what they feel their supervisors may want. As a result, it may be necessary to use an anonymous survey tool, providing a bit of a safeguard for team members who fear backlash or repercussions for expressing dissatisfaction.

Using Analytics-Based Insights, Enact Changes to Reduce Costs and Boost Efficiency

Upon reviewing information collected through analytics and surveys of all parties, Facilities Managers must enact changes to reduce costs and boost efficiency. The simplest way to use this information is by making changes to the basic operating processes and specifications for equipment affecting profit margins. For improving areas of focus, identified within the surveys, Facilities Managers may need to work on adjusting facility equipment settings and processes even further.

For example, if an employee expresses dissatisfaction due to the computer startup times or unreliable HVAC system performance, Facilities Managers can use this information to verify the performance of nearby HVAC systems affecting a given employee and throughout the entire facility to help encourage productivity and address the problem. If one person reports a problem, chances are good that others have experienced a similar issue.

Prepare a Report of Findings; Present It to Stakeholders

All information gathered from the FCA can then be used to validate or entice executive-level support for implementation or expansion of existing facilities management smart tech and building solutions. Information within the FCA report should be compiled into a single presentation, and it is important to avoid the tendency to make all data granular. In other words, keep the presentation broad, but point out specific examples of improvements possible through continued investment in use of smart building solutions.

Choose an Established Partner to Help Determine Value and Viability of Your Facilities Management Program Now

Since establishing value in conducting a FCA of your facility can be an arduous process, it may be necessary to outsource the process, and take advantage of the experience of an established, facilities management smart technology provider, like ENTOUCH. Partner with an experienced and proven smart building solutions provider to simplify FCA and building management now; visit ENTOUCH online to find out how.

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