Large real estate portfolios typically consist of hundreds of properties that require millions of dollars per year for maintenance services. Facility managers typically use a wide range of service providers in dozens of categories, including HVAC, electrical, handyman, and janitorial services, which creates a high degree of complexity to effectively manage.
The cost, timeliness, and overall performance of these service providers are crucial for efficient operations. In many cases, facility managers at multiple locations use different service providers, without a program-level analysis of the overall performance and effectiveness of the vendors. Service provider selection and management are often based on subjective criteria, rather than objective decision making based on analytics.
Despite advances in facility management technologies, many facility service managers still rely on manual, paper-based processes and spreadsheets to track and compare service provider performance. These processes are inherently inefficient, error-prone, and cumbersome. Legacy systems often present expensive, complex, and inflexible environments that cannot easily compare service performance and cost analysis across a complex portfolio.
At best, these challenges lead to an incomplete understanding of the overall cost and performance of service providers, and at worst, they result in significant costs that could have been avoided. Facility managers need a more efficient and effective solution to manage facility service providers, track service timeliness and performance, and optimize cost versus risk.
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