To remain competitive, companies must embrace technology to adapt to dynamic market demands. Even though real estate is the second largest expense for most companies (as per a survey conducted by IBM in 2014), adoption has been low. In fact, multiple surveys have found that paper files, spreadsheets, and forms dominate facilities management in most organizations.

In this post, we highlight why spreadsheets or forms are not sufficient to manage your facilities effectively.  There is a better approach: implement a dedicated IWMS solution as your one-stop solution to achieve your facility optimization goals.

The challenges of spreadsheets and forms:

  1. Data inaccuracy: Let’s face it. Even if you are being extremely careful, manual data entry errors, data duplication, and inaccurate formulas are a reality in spreadsheets. And it gets more complicated if multiple people are involved in the data entry or data management efforts.
  2. Lack of data integrity and centralization: As the business grows and spreads across multiple geographic locations, data integrity becomes an issue with data scattered among different folders, computers and locations. The risk of fraud increases due to inadequate internal controls and lack of an audit trail. Departments manage data differently. For instance, the leasing department handles lease data across locations while the maintenance team manages building condition. If say, a maintenance activity needs to be scheduled for a particular leased facility, it would require both departments to collaborate. Without a centralized source of data, effort is wasted, data integrity is questionable, and information sharing is limited.
  3. Reporting and analysis: Spreadsheets offer limited reporting. An IWMS solution like IBM TRIRIGA on the other hand, offers OOTB reports. Designing what-if scenarios, identifying under-performing and/or under-utilized facilities, conducting financial statement analysis for lease versus buy decisions – the kind of analytics you need to make informed decisions are well beyond the capabilities of spreadsheets.

How can an IWMS solution help
A comprehensive IWMS solution like IBM TRIRIGA can

  1. Provide a single point solution for all facility related processes and streamline existing disparate processes such as operations, asset and lease management, space management, move management, strategic planning and reporting
  2. Optimize space utilization by providing better visibility over your space portfolio and reduce churn rates.
  3. Increase productivity by providing ready access to up-to-date information on asset condition and shared workspaces, enabling better space usage.
  4. Identify, consolidate and eliminate vacant and underutilized facilities with the help of pre-built facilities management analytics, reducing overall occupancy costs.
  5. Perform scenario analysis by comparing strategic facility plans against business objectives and existing facilities to arrive at lease versus buy decisions and determine best possible space planning scenarios.
  6. Provide a single, automated, centralized system for move requests, approvals, tracking, scheduling and service provider integration and can also capture and allocate space usage chargebacks on move execution.
  7. Increase the effectiveness of flexible workforce and minimize conflicts in common space usage.
  8. Deliver comprehensive reporting capabilities to allow sharing of information across the organization and other stakeholders improving customer service and cutting costs.
  9. Ensure regulatory compliance

Unlike spreadsheets, IWMS solutions like IBM TRIRIGA can optimize your facilities and increase overall productivity and efficiency of your organization, without compromising data integrity. With multiple implementations, JLL’s team of IBM TRIRIGA experts can guide you through every step of the implementation process for your organization.

Contact
The JLL Team
JLLTechSolutions@am.jll.com