Tag: integrated facilities management

Top Facilities Management Companies | Facilities Management Services Procurement Research Report

London: SpendEdge, a leading procurement market intelligence company, has announced the launch of its Global Facilities Management Services Category – Procurement Market Intelligence Report.

Facilities management services play an indispensable role in ensuring the seamless functioning of an organization starting right from managing storage spaces to physical office areas. The top facilities management companies are being observed to integrate web-based technological platforms in their services that are providing a considerable impetus to the category feasibility. Buyers, as well as service providers, are developing a penchant for integrated facilities management services that are further driving the category spend momentum. Facilities management services command a significant share in an organization’s annual budget which typically overrides their allocated budget because of multiple organizational factors. This is emerging as one of the most recurring procurement challenges faced by buyers related to the facilities management services category. With a view of such potential challenges, this facilities management services procurement research report has made suitable recommendations that have aided some of the leading brands in achieving considerable cost-savings while procuring this category.

According to this report, strategic selection of the facilities management companies and a subsequent supplier base consolidation have been determined as some of the key strategies to optimize the procurement spend while maximizing the efficiency of the services. On a broader note, buyers are recommended to partner with service providers that have a portfolio of a wide range of services. This will exempt buyers from incurring excessive procurement spend on separate service providers while also minimizing the multiple-contract related complexities. Viability of facilities management companies must also be evaluated based on their data management and analytical capabilities that will play fundamental roles in determining the demand and the subsequent procurement of a wide range of services.

Partnering with such service providers will facilitate better maintenance planning, budget forecasting, and long-term category planning activities,” says SpendEdge procurement expert Tridib Bora. (more…)

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Why is Spend Analysis a Necessity for Reducing Facility Management Costs?

The market for facility management services is a multi-billion dollar industry in the U.S. alone. Facility management involves the integrated management of multiple and interdisciplinary technologies, personnel, systems, and processes. The ultimate goal of facility management is to promote an efficient and collaborative environment to meet and fulfill the key objectives and mission of an organization. However, this requires business owners to invest in strategies that are going to allow their facility management personnel to work with large sets log compliancy information, asset maintenance information, and every process through the facility management lifecycle. One of the primary challenges involved in facility management is that as more data points enter a facility, it becomes harder to ensure that accurate asset maintenance records are kept. Due to such factors, companies in the facility management industry are unable to reduce risks and increase operational control.

Key facility management challenges

Efficient facility management involves constantly tackling critical issues every day in the face of a host of obstacles. They are also responsible for bringing together a multitude of distinctive elements. Diligence and flexibility in handling facility management not only defines their success but also that of an entire company. Both large and small businesses must devote a considerable amount of their capital and energy to ensure their facilities are properly maintained and are prepared to meet the challenges of the future.

Cost management

Every instance of demand placed in a facility management enterprise has a cost associated with it. This includes costs incurred on repairs and maintenance, hiring of staff, inventory and supplies, and safety and security. We at SpendEdge, help clients in facility management organizations track cost expenditures, including detailed historical analysis, to allow for proper administrative reporting and reduction of operational costs.

Resource management

Another key facility management challenge is the need to rely on many resources to operate the facility efficiently. This includes both full and part-time staff. It also requires different types of service providers. Furthermore, due to limited budgets, facility management teams are expected to deliver more at lower costs. In this case, facility management companies are left with no choice than to identify their optimal staffing requirements and maintain a constant flow of communication between the team so that they are aware of how to increase the overall productivity and improve efficiency.

Meeting compliance guidelines

It is essential for companies to ensure the statutory regulations for managing their documents. This requires a process to ensure that data is stored correctly. In order to remain compliant, it is also important to stay updated on the legislative changes. Facility management professionals often face problems associated with inadequate record keeping that do not meet the expected compliance standards.

 

One of the best ways to resolve facility management challenges is to bring in a professional and competent solutions provider to help you carry your load. SpendEdge has been helping facility management professionals across the world to build strategies that increase their profits while staying within the budget. Contact us today!

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Cutting facility management costs: What businesses must do


As businesses face the need to utilize state-of-the-art infrastructure to remain competitive, controlling facility management spend becomes more important than ever before. Strategic planning is critical to align capital spending with budgets and ensure proper allocation of resources in facility management. While budgets are typically controlled by individual departments within the organization, there are certain steps every facility management professionals can take to contain costs. Here are five ways facility management can control the overall spend:

  • Purchase Pre-owned, Refurbished or Rental Equipment
  • Preventative maintenance of existing equipment can help reduce operating expenses and create a safer work environment
  • Research the supplier and the equipment through product reviews and testimonials for optimal prices and service.
  • Organize data and analytics to gain better visibility of expenses across the organization and enable the allocation of resources in the most efficient manner
  • Leverage spend analysis to get all the possible benefits from the company’s current spend cube

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Benchmarking of Integrated Facilities Management Best Practices

This upcoming webinar on “benchmarking of integrated facilities management best practices”, aims to provide managers of indirect procurement and indirect sourcing an overview of the transforming procurement patterns to help them better manage their indirect procurement spend.
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Integrated facilities management involves the consolidation of all facility-related services under a single contract orSpeakers profile management team. Such services help streamline an organization’s management and operations between teams involved and ease complexities that are associated with engaging with multiple suppliers for the management of day-to-day operations. A recent procurement market intelligence report by SpendEdge highlights the fact that integrated facilities management encompasses services like cleaning, security, property, catering, support, and value-added services and will surpass USD 152 billion by 2021. Numerous factors such as the growing adoption of cloud-based management solutions coupled with the increasing preference for proprietary products such as JLL’s IntelliCommand are anticipated to spur the need for integrated facilities management across the globe.

According to our procurement specialists, “Preventive maintenance and analytics play a key role in procuring effective facilities management services. And at the center of an efficient facilities operations department lies a responsive, consistent maintenance structure.” Though the global market space for integrated facilities management exhibits promising growth prospects for the next four years, it is marked by the presence of several challenges like the identification of suppliers that can cater to multiple requirements and location of suppliers that comply with green building certification standards. Furthermore, our procurement market intelligence specialists feel that despite the presence of global firms operating in the integrated facilities management market space there is little or no adoption of a single supplier across geographies, and even the most mature procurement organization are opting for bundling of services at the country level.

Want more insights into the key questions covered by this upcoming webinar? Get more information here.

Here are some of the topics that our upcoming webinar on the benchmarking of integrated facilities management best practices will cover:

 

– Roadblocks in consolidating services and centralizing the procurement process

– Perceived risks while adopting an integrated facilities management and risk mitigations strategies

– Best practices for selecting and onboarding suppliers

– Cost savings through service bundling

– Impact of industry consolidation on category buyers

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