8 Of the Best Money-Saving Hacks for Facility Managers
We know you’re always on the lookout for ways to tighten the purse strings without compromising on quality. Managing facilities like a pro requires savvy money-saving strategies that make a real impact on your bottom line. So, grab your coffee, and let’s dive into some practical, money-saving tips tailored just for you. From preventive maintenance to data analysis, we’ve got you covered with real-life facts and figures that’ll blow your socks off!
1. Preventive Maintenance: A Proactive Power Move
Preventive maintenance is the key to slaying those expensive surprises. By giving your assets some tender loving care regularly, you’ll dodge those costly emergency repairs. Not only that, but you’ll also extend the life of your equipment, and be able to budget more effectively. Plus, what a lot of people don’t consider is the amount of time it saves in terms of dealing with reactive maintenance. You could reduce reactive costs by 30-40%.
2. Energy Costs: Saving Money Like A Pro
Energy costs can significantly impact your facility’s budget. Implement energy-saving practices, such as using energy-efficient lighting, optimising HVAC systems, and installing programmable thermostats. Consider investing in smart building technologies that automate energy usage based on occupancy and optimise lighting and temperature settings. Conduct energy audits to identify areas where energy consumption can be reduced and encourage occupants to adopt energy-saving habits. According to RICS only 34% of UK business have smart tech installed in their building, but it could save up to 15% of their overall bill.
3. Resource Allocation: Creating a Lean Machine
No more guessing games with your team and equipment! It’s time to optimise your resources. Watch your budget breathe easier as you avoid costly overstaffing and overtime expenses. With a CAFM system you can group jobs together, plan schedules for engineers more efficiently, track spend on assets to make more informed decisions on repair or replacement and manage asset warranties from a central system.
4. Investment and Training of Staff: Supercharging Your Squad
Want your team to be super efficient? Invest in them with training and development! A well-trained team means fewer mistakes, less downtime and familiarisation of sites and processes for smoother operations. It’s like giving your facility a power boost. Show your team some love, and watch them shine! On average it can cost 20% more to replace an employee rather than train one.
5. Data Analysis with a CAFM: Unleash Your Inner Detective
Time to put on your Sherlock Holmes hat and analyse that data! With a CAFM system in your arsenal, you can crunch numbers like a pro. Dig into trends, optimise processes, automate reports, and view real time data analytics. Importantly you can act on these insights to put in place inspections, preventive schedules, or stock parts to reduce costs. You’ll be making data-driven decisions that impress your budget and your higher-ups!
6. Work Order Automation: Work Smarter, Not Harder
Picture this: no more paperwork headaches and tasks flying all over the place. Welcome to the land of work order automation! A CAFM system streamlines the whole shebang—from automating planned schedules to qualifying reactive jobs, creating work orders, assigning tasks, chasing contractors, updating stakeholders, and ticking jobs off. It’s like having a personal assistant for your facility management tasks.
7. Inventory Management: Keep It Lean and Mean
Inventory getting out of hand? Time to get smart! With a CAFM system you can keep an eye on those stock levels and consumption patterns. You don’t want to overstock and waste money, or worse, run out of crucial supplies. Embrace the just-in-time inventory magic and save on storage costs. Lean and mean is the way to go!
8. Tendering of Contractors & Monitor KPIs/SLAs: Quality on a Budget
Outsourcing can be your secret weapon! Tender those contracts and negotiate like a pro to get the best deals. Then, keep an eye on KPIs and SLAs to ensure you’re getting top-notch service without overspending. Quality and budget-friendly, now that’s what we’re talking about!
There you have it, your ultimate money-saving playbook! From preventive maintenance to data crunching CAFM wizardry, these hacks will have your budget doing the happy dance. Embrace the power of smart resource allocation, automate your tasks, and watch your facility management efficiency skyrocket. With these savvy tricks up your sleeve, you’re destined to be in control of your budget. So, go forth, save money, and conquer your facility management goals
Author
Charlie Bown
Ex Facility Manager, I feel your pain!
