Facility Management Software

With more than 200 vendors in the facilities management software landscape, this market can be difficult to navigate. Vendors use different terms to describe software functionality similar to computer-aided facility management (CAFM), including computerized maintenance management software (CMMS), enterprise asset management (EAM) and integrated workplace management systems (IWMS). We wrote this guide to help buyers through the selection process. 

Here’s what we’ll cover:

What Is Facility Management Software?
Common Features of Facility Management Software
Benefits of Facility Management Software
Recent Events You Should Know About

What Is Facility Management Software?

In general, facility management software is designed to perform the following functions:

• Mange assets and track important equipment information
• Manage maintenance costs
• Automate maintenance workflows
• Create and manage recurring tasks
• Increase asset efficiency
• Streamline work order processes (e.g., repair requests, completion tracking)
• Reduce space and maintenance costs

The International Facility Management Association (IFMA) defines facility management as the “practice of coordinating the physical workplace with the people and work of the organization.” This encompasses a range of activities, from portfolio forecasting to equipment maintenance and space planning.

Common Features of Facility Management Software

A well-implemented system will help companies reduce the costs of maintaining their facilities, improve the flow of information across departments and boost operational efficiencies. Common applications found in CAFM include:

Benefits of Facility Management Software Applications

Reduce “churn” rates and the expenses associated with managing space poorly. Moving is expensive, particularly if an organization lacks formal planning surrounding its moves. Churns—the process of moving employees and assets—require both downtime and investment, which can be significantly reduced by utilizing CAFM applications.

Extend asset lifespans. An attentive maintenance program extends the lifespan of assets while minimizing the total cost of ownership. Reactive maintenance is costly, results in unplanned downtime and can create an unsafe work environment. Developing a rigid asset upkeep schedule ensures that assets perform at their peak while maintaining a smooth operational schedule and employee safety—all without unexpected costs due to equipment failure.

Reduce energy-related expenses. Some organizations are taking a look at their energy performance for the first time. Reporting dashboards calculate total energy consumption while helping to identify operational inefficiencies. This kind of analysis demonstrates how an organization is performing and where there’s room for improvement, while encouraging sustainable behavior among a building’s occupants. Organizations can often see an immediate savings in energy-related costs by implementing environmental performance dashboards.

Recent Events You Should Know About

New standards force new lease reporting for facilities. The U.S. Financial Accounting Standards Board recently updated its accounting standards to require companies to report lease expenses on balance and income statements by 2019, instead of simply as footnotes in financial statements. Companies with large lease obligations (i.e. those with several facilities to manage) must now fully report these leases on balance sheets.

Computer energy use increased in educational facilities. Computers are now used in about 92 percent of educational buildings; an increase of 89 percent since 2003, according to the U.S. Energy Information Administration. This creates a new challenge for facilities professionals to optimize energy usage and manage costs.

Strong commercial real estate demand continues. The CBRE Group reports that the U.S. commercial real estate market continues to show healthy demand for various property types, such as offices, industrial facilities, retail and multifamily housing. CBRE’s chief economist notes that this slow, steady balance between supply and demand is an indicator of market health.