REoptimizer® Blog

Facilities Management Software, IWMS, CMMS: Which Do I Need?

Posted by Don Catalano on Aug 1, 2014 9:00:00 AM

The world of facilities management software can seem like a complicated alphabet soup of four-letter acronyms. CAFM, CMMS, and IWMS serve different, but overlapping purposes. However, all can add value to your organization.  Here is a look at them all, and the benefits of each to help you manage your commercial real estate portfolio.

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Topics: integrated workplace management system, IWMS, commercial real estate, tenant tips, facilities management software, CMMS, Computerized Maintenance Management System

Benefits of An Integrated Workplace Management System (IWMS)

Posted by Don Catalano on Jul 28, 2014 8:50:00 AM

An integrated workplace management system (IWMS) is a powerful piece of enterprise software that helps your business manage its real estate portfolio. IWMS solutions replace the old-fashioned method of using calendars, excel and paper files to manage a real estate portfolio. Once installed, they provide a single interface to everything you need to know about your portfolio, offering multiple benefits.

Reduced Staff Sizes

With an integrated workplace management system keeping all of your corporate real estate information in a centralized place, your facilities department can do more work in less time. Ultimately, this leads to a need for fewer staff hours to do the work. Given that the software can also automate repetitive processes, it can further reduce the size of your staff.

 

Better Service

The efficiency benefits of an IWMS also make it easier for your facilities staff to service the rest of your company. With all of the information they need in the right place, they can quickly answer incoming questions and connect departments to the right resources to solve their occupancy-related problems.
In the same vein, an integrated workplace management system also lets you take better care of your buildings.

Many IWMS packages track your building's maintenance schedules and the ages of their components. This lets you send out preventative maintenance on an optimized schedule, balancing the desire for maximizing the useful life of your facilities with the need to control maintenance spending. You can also plan your capital expenditures in advance, helping you manage cash flows.

 

Greater Space Efficiency

Vacant space costs approximately as much to occupy as space that your business is using. With an IWMS, you can track which spaces you are using and which you aren't. Based on its reporting, you can then adjust your facilities for greater efficiency and, if necessary, allow leases to expire or put space on the sublease market to recoup some of their costs. For some companies, this benefit alone is enough to cover the cost of their integrated workplace management system project.

 

Greener Buildings

The same benchmarking tools that let you compare buildings on the basis of occupancy also apply to other building metrics -- including energy consumption. With an IWMS, you can quickly calculate norms for your company's portfolio and see which buildings don't match. Based on those comparisons, you can extract best practices from your most efficient buildings and make necessary changes at your least efficient ones. Beyond reducing your company's environmental impact, this practice can also help to reduce occupancy costs.

The most elaborate integrated workplace management system packages can integrate with your company's business intelligence programs and with your building's control systems. These packages can frequently cost millions of dollars and take years to install. REoptimizer® gives you access to powerful tools like expense benchmarking, cost comparisons and occupancy analysis at a fraction of their cost.

Other great CRE Software articles:

Facilities Management Software, IWMS, CMMS: Which Do I Need?

Top Five Reasons You Need Commercial Real Estate Software

The Perfect Commercial Lease Administration Software



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Topics: integrated workplace management system, IWMS, lease administration software

IWMS 101: What Is It? Do I Need One?

Posted by Jordan Slater on Feb 13, 2013 3:15:00 PM

An integrated workplace management system is an extremely powerful enterprise software application that helps you to better take care of your company's real estate portfolio. IWMSs go beyond computer aided facility management (CAFM) and computer maintenance management systems (CMMS) to provide you a single place to analyze every aspect of your company's facilities. Many IWMSs are modular programs that can span many different disciplines, but there are five key features that most of them have:

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Topics: integrated workplace management system, IWMS

Commercial Real Estate Software vs Integrated Workplace Management Systems

Posted by Jordan Slater on Sep 24, 2012 3:59:00 PM

As you consider the software options for managing rents and locations in your real estate portfolio, you should be aware of the differences between commercial real estate (CRE) software and an integrated workplace management system (IWMS). Many versions of commercial real estate software are really nothing more than glorified spreadsheets, keeping track of basic functions like rents, maintenance costs, and lease admin functions. An integrated workplace management system is actually a form of CRE software, but typically a more granular form, incorporating more aspects of facility asset management. Elements addressed by the integrated workplace management system often include space planning and maintenance tracking.

A strategic approach to managing commercial real estate will allow you to save time, cut costs, and improve the logistics of your business through the analysis of your costs, assets, and processes. The statistical and analytical capabilities of an integrated workplace management system provide a micro-level view of your commercial real estate portfolio, providing information about each individual site as opposed to your entire portfolio. Utilizing an integrated workplace management system to guide your business decisions, you can manage specific costs related to each site, and track monitor the return on each of these spends.  This becomes particularly beneficial when cost and process are your biggest concerns, especially in owned properties (as opposed to leased).

When most of your portfolio is leased, a sound lease administration system is often a good direction to go.  But if you want to go a little bit further than simply managing your leases and critical dates, a CRE optimization system is a happy medium for many users.  Optimization software tracks site-specific expenses as well assists in managing entire portfolios.  Moreover, quality CRE optimization software will also provide an overview of the interactions between each site (e.g. a your regional warehouse and your local retail stores).

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Topics: integrated workplace management system

What Should I Get Out of My Integrated Workplace Management System?

Posted by Jordan Slater on Aug 24, 2012 9:59:00 AM

Choosing to implement an Integrated Workplace Management System into your real estate business is a great way to modernize your long-term goal planning while simplifying your day-to-day operations. When selecting the IWMS that's best for your business, remember to look for comprehensive planning capabilities, ease of information sharing and clear visualization applications throughout the system.

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Topics: integrated workplace management system