The power of IoT facilities management derives from data-based decisions and real-world visibility into everyday operations.
Buildings and other structures, such as HVAC and lighting systems, are the fifth-largest generators of data connected to the Internet of Things (IoT) in facilities management. Meanwhile, up to 60 percent of facilities managers expect the IoT to impact operations within the next year profoundly, and in 2016, 65 percent of facilities managers expanded capital expenses in the IoT, reports i-SCOOP. As a result, it is imperative for business owners to understand the benefits of the IoT in facilities management.
- Smart Devices May Lead to Insurance Premium Reductions.
Insurance functions by assessing a company’s risks associated with its facilities and assigning a financial estimate needed to cover such repairs in both long-term and short-term outlooks. In other words, a company’s existing risk is tantamount to insurance premium costs, reports Naomi Millán of FacilitiesNet, and the IoT is poised to shift the burden of assessment to data-based analytics.
For example, companies that deploy IoT-based smart building solutions can reduce the risk of fires, disasters and premature equipment failure, which may reflect some of the greatest risks to an underwriter. Thus, monitoring and reducing risk and costs through internet-connected sensors reduces risk and insurance premiums.
- Cloud-Based Strategy Simplifies Facilities Management.
When companies opt to collaboration with a third-party analytics and strategy partner in facilities management, it leads to a direct reduction in overhead labor costs. Furthermore, costs associated with repairs are eliminated as data analytics, and predictive maintenance can pinpoint and direct repair technicians how to perform such repairs. This ensures a timely, cost-effective repair for the company without adding extra workers.
- Enhance Safety and Security of Your Facility.
Another key benefit of IoT for facilities management lies in enhanced security and emergency procedures. When an emergency or dangerous situation arises, IoT-enabled sensors can automatically notify all occupants and trigger automated alerts to first responders and employees within the facility, explains Edward Sullivan of FacilitiesNet. Also, smart sensors can prevent key mistakes during such emergencies, like shutting down elevators or lighting exit paths for occupants. Therefore, the risk of death or injury decreases.
- Expense Reduction Among Utility Costs.
Electricity, natural gas, and water usage are some of the highest costs business owners face. Facilities managers can leverage cloud-based analytics to identify trends in utility usage and prevent overbilling. Furthermore, a connected system can automatically tap into renewable sources of energy, like solar panels, during peaks to drive costs down, even more, asserts Leroy Walden, LEED of HPAC Engineering. Of course, internet-controlled environmental settings can help forgetful employees shut down systems when left on after closing.
Reap the Benefits of IoT Facilities Management With ENTOUCH.
The benefits are clear and can extend throughout your organization. Stop wasting time, and take advantage of the savings and lower risks by implementing a smart building strategy now. More importantly, savings and effective strategy in facilities management will translate into lower overhead costs, better prices to consumers and growth of your brand.