The C-Suite’s Growing Interest in Smart Building Solutions

February 21, 2018 Greg Fasullo

The C-Suite’s sights have turned to smart building solutions for better capital planning and value creation.

Smart building solutions are among the major trending topics in facilities management circles, and the C-Suite has taken an interest in them, explains an IMFA Report. Smart building solutions can dramatically reduce total cost of ownership (TCO), enhance capital planning and increase brand protection. The true benefits of smart building solutions cannot be summed up in two sentences, so let’s take a closer look at some of the integral reasons C-Suite executives have grown interested in smart building solutions.

  1. Experience Is Crucial to Facilities Management

The world of facilities management is evolving, and more Facilities Managers are retiring or leaving the field every day. This has created a skills gap between the workers of the past generation and the next generation leading to a major problem if businesses do not adapt to attract the next generation. In other words, experience in facilities management is the in-demand quality C-Suite executives want from future team members, and smart building technologies have the benefit of addressing both business needs and aligning with millennial’s expectations for a tech-savvy career.

  1. Facilities Spend Increased Across All Businesses

With the rise of Amazon and a greater focus on omnichannel shopping experiences, all businesses have taken an interest in ways to drive costs down and stay competitive with both the big-box and e-commerce giants. Facilities management directly reduces the operating costs within a given business, so C-Suite executives can increase profit margins in the push to offering lower-priced items and services to consumers, asserts FacilitiesNet.

  1. Millennials Want Sustainability From Businesses

Millennials make up one of the largest consumer segments in history. Therefore, businesses must align their practices with the expectations of millennials, including sustainability. Millennials are watching businesses for sustainability, and those that avoid actions to reduce their carbon footprint will suffer setbacks and backlash across social media, as well as traditional media.

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  1. Smart Building Solutions Increase Facility Flexibility

Smart building solutions also increase facility flexibility. The use of data allows for the creation of predictive, proactive maintenance schedules, and it can be leveraged to create an asset management playbook. This playbook details the steps Facilities Managers must take when a problem arises, considering the relative age of an asset, frequency of problems that have occurred, and availability of parts necessary to make such repairs. This information is compared to the costs of total replacement, including both indirect and direct costs. Smart building solutions make it easier to manage distributed assets.

  1. Smart Building Solutions Can Prove Their Value

This is the greatest windfall for C-Suite executives investing in smart building solutions. Smart building solutions use data, and they can define savings versus costs in painstaking detail. This information proves their value to the C-Suite, and it transforms facility management from a cost center to profit center. As a result, C-Suite executives and Facilities Managers have more capital to use in other parts of the business and can successfully do more with less.

Give the C-Suite What They Want With Smart Building Solutions

Smart building solutions are more than a buzzword in facilities management; they are the answer to the demands of the C-Suite. C-suite executives are showing more interest in smart building solutions, and your facilities management team can leverage the reasons behind their interest to simplify operations and drive saving. Find out how much your organization could save by scheduling your initial evaluation with ENTOUCH online or by calling 1-800-820-3511 now.

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