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Are your real estate (RE) and facilities management (FM) operations fully connected with your overall enterprise strategies? Especially when adapting to today’s hybrid work models? Minimising operating costs and improving the workplace experience of building users are key challenges.
The SAP-Planon partnership is well timed for a real estate software market that is growing in the wake of post-COVID-19 return to work strategies’ stated IDC, and mentions that ‘enterprises are seeking to create efficiencies in their real estate utilisation overall and within the greater context of their overall enterprise efforts globally'. (IDC, SAP and Planon Announce Wide-Ranging Partnership for Facilities Management Software Market, May 16, 2023).
In the changing world of commercial and corporate real estate management, combining RE data and processes with ERP systems is transforming how organisations manage their properties. Through its partnership with SAP, Planon offers organisations a smart, sustainable building management solution seamlessly integrated with SAP cloud ERP. In this blog, I’ll look at the benefits of using RE and FM software, and how combining building portfolio with core financial data can result in more informed real estate management decisions.
The role and benefits of real estate management software
Where organisations use ERP software to manage their core operations, real estate management software is a solution for the business support processes in RE and FM. For more details on the differences, refer to Planon’s e-book titled ‘ERP versus IWMS’
Real Estate Management software, such as an Integrated Workplace Management System (IWMS), provides a wide range of functions to manage a property portfolio and associated facilities. It enables organisations to strategically plan, control finances, and make informed decisions. With features like asset and maintenance management, space and workplace management, and energy and sustainability management, IWMS software ensures that buildings are safe, efficient, and conducive to productivity.
You can monitor resource use across your real estate portfolio to set and achieve sustainability goals, save money, and increase property values. The software also gives real-time insights and automatic alerts for quick corrective actions, boosting operational resilience. An IWMS gives actionable insights into real estate and facility management for multiple stakeholders.
Combining RE and FM with core finance data
Today’s finance professionals need accurate accounting data for all business processes to influence company-wide decision-making, forecasting, and budgeting. This includes real estate financial data. To ensure the accuracy of consolidated financial statements, and comply with accounting standards and regulations, the data between an REM system and an ERP must be properly synchronised. In the past the only options were manual data entry, or a customised software application. Manual data entry is time consuming and susceptible to human error while customised software applications are expensive to develop and maintain. Using IWMS software that seamlessly integrates with an ERP system from day one, eliminates these problems.
‘Using IWMS software that integrates seamlessly with an ERP system automates data entry and eliminates expensive custom software.’
Elevating real estate management with integrated ERP and IWMS
As a result of the strategic partnership between SAP and Planon, organisations can easily integrate REM software with their SAP cloud ERP system. Planon Real Estate Management for SAP S/4HANA processes all real estate transactions as standard SAP transactions, ensuring seamless integration and unlocking the full potential of RE and FM data.
Curious to learn more about how this can benefit your organisation? Download our FAQ document, ‘6 FAQs on smart, sustainable real estate with SAP and Planon’ to explore detailed answers to common questions.
