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February 06, 2017
Maximising growth in facility management (FM)
Michael Grant

In recent years, facility management has become a profitable business sector, with a notable increase in demand for reliable and affordable solutions. Property owners are more aware of the need to protect their assets than ever before and are embracing innovative technologies that give them a chance to achieve that at a low cost. This tendency is present around the world, reflecting the changing business environment that places more importance on efficiency and optimisation. Some of the factors behind this phenomenon include:

Rising cost of new properties

Real estate prices are skyrocketing in Britain and across much of the world, and this trend is heavily influencing the FM market. Owners are more reluctant to buy or build new facilities and are instead looking for ways to extend the lifespan of their existing properties.

Energy consumption and carbon footprint

Modern facilities feature numerous electric-powered systems (heating, air conditioning, security cameras etc) and house large amounts of electronic equipment. If they remain constantly online, those devices consume considerable amounts of energy and produce a significant carbon footprint, with dramatic financial and environmental consequences. A smart FM system optimises energy expenditure and keeps carbon emissions at a tolerable level.

Technological improvements

Cloud technologies, remote sensors and wireless connections have only recently been perfected to the point where fast and secure large-scale deployments are possible. Advances in hardware and software industries have fuelled the rise of a new generation of FM providers specialising in agnostic service and data visualisation, with solutions that are intuitive to use and flexible enough to apply in a wide range of situations. As a consequence, they cater to a much wider audience.

Competitiveness in the global market

Companies in all lines of business are hard pressed to cut unnecessary costs by the presence of aggressive international competitors. Thanks to online marketing and electronic payments, it is now possible to deliver products and services across borders with little trouble, forcing local businesses to adapt on the fly. More efficient facilities management is one way to reduce operational expenses and become more resistant to market pressures of this kind.

For a while, it was a popular strategy to displace select business units to foreign countries where facility management prices are lower. But in recent years, more and more companies are moving away from this model for various reasons. A viable option for companies to save money would include taking the necessary steps to lower any expenses associated with domestic-based facilities.

Taking advantage of IoT innovations not only allows companies to reduce outgoings, it also potentially protects and expands the lifespan of assets.  

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