The ENTOUCH Blog

08. 21. 2017

Smart Building Tech Solutions: 5 Ways Facility Managers Can Improve the Bottom Line

Facility managers are under constant scrutiny and pressure to increase bottom-line savings, but it can be hard to isolate ways to save money when energy-efficient and low-energy systems are being used. Plus, how can facility managers control factors in tenant, customer, guest or occupant-controlled areas? The answer is by using smart building technology to push the savings’ boundaries further and reduce overhead costs wherever possible, without sacrificing comfort or convenience.

Use Predictive Maintenance Schedules to Reduce Equipment Risk and Costs

Predictive maintenance is about identifying systems that are at risk for damage or problems when subtle changes in the device’s operating levels occur, explains Chris Wood of Construction Dive. For instance, a small fluctuation in the energy consumption of an HVAC unit may seem minor, but if it varies when the source air temperature has not changed, it may indicate a problem with the unit itself or the area being conditioned. In other words, predictive maintenance can proactively work to prevent units and systems from overworking, reducing equipment risk by keeping parts functioning and eliminating costly repairs.

Bring Disparate Networks and Systems Together to Identify Trends Faster and Easier

While new, more advanced HVAC systems and other building systems have been around for years, these systems often lacked integration and the ability to communicate. Yet, smart building technology can be retrofitted to a facility, putting the energy-efficiency ratings of new equipment to the test at last. Moreover, the use of smart building tech eliminates disparities between systems, creating a better, more cohesive view of a facility’s current operating costs and processes. Therefore, facility management professionals can identify trends faster and easier, resulting in direct benefits to employee engagement.

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Smart Building Tech Increases Employee Engagement and Response

Employee engagement is one of the primary factors in how employees rate their satisfaction with their jobs. Meanwhile, keeping employees engaged can help reduce risks by ensuring employees are actively working, not just using the company’s resources. Plus, today’s workers, including millennials, are more apt to work harder and be more interested in your company when using modern technologies, like the Internet of Things and mobile apps to complete their duties. Of course, this engagement also reduces the response time when problems arise. Therefore, overall risk decreases, and profitability increases.

Smart Building Technologies Leverage the Internet to Increase Security

Security risks can decimate a company’s profit margins, especially if the risk comes to fruition and causes additional damages, injuries or other types of liability to a company. However, smart building tech can dramatically increase a facility’s security, including reducing unauthorized access, managing the facility premises and controlling assets on the facility, like safes, storage areas and more.

Implementing Sustainability Measures May Lead to Financial Reimbursements and Tax Incentives

Sustainability is the key to smart building tech solutions and vice versa. Smart building technologies can increase facility eligibility for tax incentives or financial reimbursements, such as rebates, from local, state and federal agencies, and even manufacturers. Of course, these rebates tend to rely on data that proves reduced energy consumption and impact on the environment. Therefore, connecting smart building tech systems with an analytics platform is a crucial step in improving the bottom line.

Find out why 60% of retailers look to outside experts like ENTOUCH to guide  their journey to smarter, connected facilities. Download Infographic.

Boost Your Bottom Line Today

Even facilities implementing the most advanced systems to collect data still need analytics and machine learning to truly reap the rewards. As a result, facility managers are turning to outside companies, like ENTOUCH, to implement, manage and maintain these smart building tech solutions. To find out how your company can get in on the action, Contact ENTOUCH today.

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