Insight from Prabhu Ramachandran, CEO of Facilio
In the FM service industry, fierce competition and rising customer expectations present significant challenges. Companies struggle to distinguish themselves in RFPs and deploy services swiftly while meeting demands for high-quality service, rapid response times, and zero downtime.
Many FM service businesses remain bogged down by legacy systems and outdated technology, hindered by short-sightedness and hesitation. This stagnation leads to a cycle of inefficiency, leaving lasting scars on their business and operations that can take years to rectify.
Embracing modern technology is now an absolute necessity, not a choice. If your operations still rely on outdated systems, here’s what you might be facing:
Scattered Financial Data
Legacy O&M systems often don’t integrate well with financial tools, leading to scattered and disorganized financial information. Imagine trying to prepare for an audit and finding to juggle between multiple spreadsheets to gather P&L data. Tracking expenses and staying within budget becomes an uphill task. It makes it hard for business vertical heads at FM service firms to access real-time financial insights to make quick informed decisions about budgets and expenses. It’s not just a headache; it can lead to mistakes and missed cost-saving opportunities.
Communication Breakdowns
Effective communication is the backbone of any FM service. Without it, things can go wrong quickly. Picture this: a maintenance request comes in, but the details are unclear. The technician misunderstands the issue, causing delays and potentially even safety hazards. A lack of a centralized dashboard and real-time reports means some stakeholders are kept in the dark, and communication gaps between internal stakeholders and customers are rampant.
John, a field service manager, faced this problem daily. Tasks weren’t coordinated, progress wasn’t tracked efficiently, and client demands weren’t met promptly. Switching to a cloud platform with a mobile interface enabled him and his team to have access to the dashboard on the go, helped his team respond faster, reduce errors, and improve customer satisfaction.
Hard to Scale
Old-school CaFM systems are often complicated and rigid. They’re hard to use and even harder to adapt as your business grows. Imagine trying to teach your team to use a complicated tool, only to have them make more mistakes and become frustrated.
Mary, who runs a growing FM business, found her old system was a significant roadblock. It was slow, required constant IT support, and couldn’t keep up with the increasing number of clients and services. The CaFM system did not allow her team to customise as per client’s needs, which meant reliance on vendor or IT support, and therefore unnecessary delays in deployment. By adopting a more flexible and user-friendly platform, Mary was able to scale her operations smoothly, cut down on IT costs, and respond quickly to new business opportunities.
The Risks of Sticking with legacy CaFM
Sticking with an “if it ain’t broke, don’t fix it” mindset can hold your business back in many ways:
- Losing bids: Without the best tech, you may lose out on important contracts because your legacy system will restrict you from customising your offers or slow down your teams’ operations.
- Delayed deliveries: It can take over a year to set up new services for clients due to the lack of the ability to customise workflows and apps, causing frustration and lost business.
- High Customer Churn: Miscommunications and missed deadlines lead to unhappy customers and high churn rates.
- Stunted Growth: Without actionable insights from data such as asset performance, SLA adherence and tenant satisfaction, you miss opportunities to improve and expand.
- Increased Costs: Inefficient workforce management leads to higher operational costs.
Tech-led FM Growth Success Stories
Here are some examples of companies that have thrived by adopting modern cloud-based Connected CaFM solutions:
CIT Group, Saudi Arabia:
By implementing a connected CaFM platform, CIT Group streamlined their workflows, improved communication, and gained better operational visibility. This helped them win contracts over competitors who were still using outdated systems. They were able to quickly customize their offerings to suit customer demands. Naser Gulaid, Executive Chairman at CIT Group, noted that the new platform’s ability to handle KPI reporting and ensure audit-readiness gave them a significant advantage. This is a clear case of how technology can become the catalyst for business growth.
Quality FM, Dubai:
Within four months of switching to a Connected CaFM platform, Quality FM could launch a digitized quotation service, providing cost transparency in maintenance operations. This offering allowed operators to gain comprehensive insights into maintenance costs, customer margins, and gross profits. The company also gained real-time visibility into building functions. With data-driven insights, they could preemptively address issues, reduce disruptions, and optimize workforce efficiency. These improvements helped them stay competitive, maintain a high standard of service and win customer loyalty.
Q3 Services, UK:
The adoption of a Connected CaFM platform allowed Q3 Services to deliver bundled services more efficiently and expand into new markets swiftly. The platform improved their bottomline and helped them secure new customer accounts, emphasizing the importance of rapid deployment and business growth.
In the competitive world of facility management, relying on outdated systems can significantly hinder your efficiency and inflict lasting scars on your business, leading to prolonged recovery times. Embracing modern cloud technology purpose-built to solve for integrated facility management firms not only elevates operational capabilities but also enhances customer satisfaction and drives business expansion.
