In this webinar, Susan Clarke, Principal Analyst at Verdantix explains why space management has become one of Facility and Space Managers’ main priorities. This webinar is being held at 11:00 AM EST.
Benefits of space management software
Using an innovative software solution to successfully manage an organization’s space, offers a number of benefits. For example:
1. The ability to identify space and lower portfolio costs
It is well known that one of the largest expenses for an organization is made up of personnel and accommodation costs. Effective space management has a direct impact on both cost centers, making it a critical component that can directly affect the bottom line of the business.
In an ideal situation, every organization would use every inch of their space for the intended purpose, whether it be meeting rooms, storage, labs, desks, or dining space. Using a space management software solution provides the accurate and real-time data that is needed to see if spaces could be used more efficiently to reduce costs. This means that organizations can re-allocate underutilized space for more appropriate use or even make a case for or against the need for an expansion based on real-time data. An organization with a space team that is equipped with real-time, accurate data, can make better decisions that will drastically cut portfolio costs.
2. Create a pleasant working environment and improve productivity
While the demand for getting the right people with the right skills into the right roles – the War for Talent – is higher than ever before, the focus of space management is shifting from just reducing space costs toward also creating a working environment that helps to attract and retain talented employees. This does not mean that reducing space costs is no longer high on the priority list of Facility and Space Managers, but finding the right balance is becoming more important.
To keep employees satisfied and engaged, Facility and Space Managers need to provide employees with work spaces that meet their needs. This means providing enough physical space to be able to complete daily tasks in a comfortable and effective way, but not so much that the organization pays for space that is not needed. Space Managers have started to explore how to provide different kinds of spaces for different purposes, for example, silent rooms for employees who do not need to be disturbed, or creative spaces with comfortable chairs that encourage employees to brainstorm, innovate, and collaborate with others in a less formal setting.
An innovative software solution for space management provides clear insights into space occupancy and space utilisation. This data can help space management teams draw better conclusions and recognize trends about the space they provide and work on initiatives that will fulfill actual employee needs. When the data shows that certain spaces, such as concentration rooms, are continuously occupied and thus frequently used, this could be a reason to question if there is a greater need for these types of spaces compared to other types. Seeing that the occupancy rate of open-plan offices is extremely high, could indicate that employees are feeling cramped and thus action might be needed to improve this. These are just a few examples, but when your space management team has better data to work with, they can give better insights and look into potential problems or solutions faster. Access to consistent, accurate space data also allows you to make it easier for your employees to access and book available space, whether that is through a self-service portal, a mobile device, or from a kiosk or room booking panel.
In the end, happy employees perform better, stay with an organization longer, and are more productive.
3. Generate reports to develop strategic space plans
Without software for space management in place, it becomes difficult and time consuming to run reports on real-time and accurate space data as the data is simply not centralized in one system. Additionally, when space data is spread out and stored at different locations, redundancies can occur, making it harder to know which dataset is more up to date. An innovative software solution for space management, ideally integrated into an IWMS, centralizes all data into one system, collecting it automatically in real-time. With a space management module and IWMS in place, Facility and Space Managers can run reports such as chargeback reports and utilization reports, and use scenario planning for future space allocation. Based on these reports, Facility and Space Managers are able to monitor and analyze their space management data and plan for future improvement.
While there are some excellent space management point solutions in the market, organizations will get the most out of their space management when combining it with an IWMS solution. With an IWMS, organizations can consolidate all their separate, fragmented sets of data for maintenance management, property and lease management, services management and sustainability management. This allows all stakeholders to work together better, allowing each to see accurate, up-to-date data that can aid in decision making across all participating departments.
4. Space management maturity level
To help organizations discover the current and desired maturity level of their space management, Planon has developed the Space Management Maturity Model. This maturity model can help you start a conversation with your team about where your space management strategy is today and what steps you can take to evolve and close the gap between your current situation and your desired situation. You can download the Space Management Maturity Model here.