5 Essential Cost-Saving Tips for Commercial Facility Management

The cost of doing business will always include investment in your commercial property, but it also doesn’t have to eat up the operational budget. When it comes to your business’s potential to save more money, efficiency is vital. These five tips will get you started reducing costs in your facility management program.

Outsourcing

“How does paying someone else cut costs?” you might ask. Outsourcing is actually one of the most effective ways to save money for several reasons. Facility maintenance services handle all the hiring, vetting, and training of professionals and vendors, which allows you to reduce your internal staff extensively. They relieve your business of liability to industry standards as well as local, state, and federal laws regarding building maintenance procedures, equipment use and storage, and asset management. For the purpose of complying with environmental regulations, a facility management company may be helpful, however, it is advisable to outsource this task to an environmental consulting company such as RSB Environmental in order to ensure compliance and sustainability, as they can provide expert guidance on the same. This service alone tends to have the potential to save your business thousands on potential fines and lawsuits, not to mention the time and cost required to prevent them in the first place.

Outsourced facility management services also offer an unmatched level of skill and expertise required to properly perform tasks like benchmarking, creating and implementing a preventative maintenance plan, and using facility management software. Even if you choose not to outsource, these practices can still help save your business money.

Benchmarking

Cutting costs is a matter of research to understand where your dollars are flowing, analysis of the current program’s efficacy, and setting new goals to achieve projected savings. Benchmarking is a data-driven process for accurately evaluating quality of work and areas for improvement. You might use this method to judge the effectiveness of a current or past improvement project, pinpoint unnecessary bleeding of resources, narrow in on unforeseen problems, and calculate upward or downward trends. Though collecting and analyzing all this data can be a complicated process, the long-term benefits are worth it, and facility management software can be a helpful tool.

Facility Management Software

Computerized Maintenance Management Systems, or CMMS, comes with a vast number of features designed to make your facility manager’s life easier. These software programs can account for assets and monitor their performance, provide analytics based on the recorded data, systematize communication between team members, streamline multi-facility management, etc. The best part about having such a powerful tool at your fingertips is its ability to reveal new cost-saving avenues. Take your pick of the wide variety of software programs currently on the market, all of which are easy to use and set up, scalable, and not too expensive.

Preventative Maintenance Plan

A preventative maintenance plan, or PMP, is an industry-standard aspect of facility management that you should have if you don’t already. A PMP is a strategy that allows you to be proactive about your commercial property’s maintenance needs rather than reactive. It takes into account each asset, its scheduled maintenance requirements, its warranties, and associated vendors. Having all this information organized into a standard operating procedure cuts down on wait times for repairs and ensures recommended maintenance services are performed at the appropriate times in an asset’s lifespan. One of the important functions of facilities management is to ensure the upkeep and maintenance of the work environment, and preventive maintenance should ideally form a major part of it. As per the name, proactive maintenance of this kind prevents unforeseen breakdowns that disrupt the flow of business and come with a heavy price tag. This, in turn, reduces your long-term costs.

Energy-Efficient Features

Not only is going green an excellent way to show commitment to the environment, but it can also save your business big bucks on facility management. First, you can use your software and benchmarking tools to analyze how much energy your business currently uses. Once you know where your energy (thus, money) is being used inefficiently, you can create a plan for change. For instance, you might look into switching energy providers, investing in solar panels, upgrading your lighting to energy-efficient LEDs, or installing other energy-efficient fixtures.

In Conclusion

Only when the HVAC system breaks down, the parking lot is riddled with dangerous potholes, or the landscaping fails to survive the winter do we become aware of maintaining our commercial property and its significant role in our business affairs. At that point, you might decide to get in touch with an AC repair service company, electricians, or even other commercial contractors who can fix the repairs for you.

However, a business owner has a hundred other tasks on their plate without having to worry about the upkeep of the building and grounds. Well-executed facility management should make commercial property maintenance disappear into the background for its business owners and employees – and without costing an arm and a leg.