So much modern technology has inundated the business world the past few decades that it’s impossible to keep up with all of it. But if you cherry-pick the most helpful and powerful platforms, integrated workplace management system (IWMS) software makes the list. It’s a solution that allows you to manage all your assets in one place.
What Is IWMS Software?
IWMS was coined by Gartner in 2004 as a form of computerized maintenance management systems (CMMS). It’s software that serves workplaces that deal with space management, such as factories and campuses. It’s designed for large organizations that own or manage property such as maintenance facilities, restaurants, stores and schools.
The software has evolved to include multiple standard business functions and is useful for adapting to changing environments. IWMS applies to software that supports these five needs:
- Real Estate and Property Management
It is used to manage the real estate assets of a company including purchase, lease, and disposition of assets. IWMS features supporting real estate management include lease analysis, planning, management and accounting, request for proposal (RFP) analysis and tax management.
- Facilities and Space Management Optimization
This is related to optimized utilization of facilities and space management. IWMS features for facilities management include facilities planning, resource scheduling, CAD and BIM integration.
- Maintenance Management
It involves preventive maintenance of facilities and assets. IWMS features supporting maintenance management include work orders and requests, asset management, inventory management, and vendor management.
- Environmental Sustainability
This includes tracking for energy usage, costs, waste within facilities. IWMS features for sustainability and energy management include integration with building management systems (BMS), energy benchmarking, and energy efficiency project analysis.
- Project Management
This involves planning and execution of new buildings or remodels. IWMS features for project management include planning, financial accounting, bidding, and document management.
Managers of various types of businesses that generate huge amounts of data are the primary users of IWMS software. It has become common in the real estate industry or at maintenance facilities. The system creates reports that help managers streamline their companies to become more efficient operations.
Here are reasons to consider IWMS for your business:
- Centralized Controls Through a Web Portal
Centralizing all the data of your facilities at one place helps you easily access the information whenever you need. You get up-to-date and accurate data as it is available in real time.
- Useful for Managing a Vast Amount of Resources
IWMS helps in optimized use of resources. It offers resource and space management capabilities which help in tracking number of employees, vacancies, square footage, space utilization and occupancy
- Cuts Costs
IWMS offers direct and indirect cost savings and revenue increase. According to an analysis by Gartner, there is a 10-15% reduction in space cost due to efficient management, 5-8% cost reduction due to process improvements and better contracting methods, and 5-8% reduction in lease costs due to lease administration.
- Increases Efficiency
Office spaces, meeting rooms, and workplaces may seem to be fully utilized. However, their occupancy is just between 50-60% which is inefficient for your business. IWMS helps you measure and analyze the usage, increase the effective use of resources or space, identify inefficiencies, eliminate under-performing facilities, and improving the processes.
- Helps in Increased Productivity
IWMS gives you insight into scheduling maintenance or other actions so that employees can perform their work without any disruption. This helps in increasing the productivity across your business.
How IWMS Helps Your Business
Like customer relationship management (CRM) software, IWMS came into existence as a solution to simplify complex organizations. Building management, for example, involves electricity, lighting, plumbing, heating and cooling. Humans interact with each of these systems to affect space and value. In order to run an efficient business, managers need to analyze data on how systems and humans relate to each other, which IWMS provides.
IWMS helps managers schedule maintenance work so that appropriate designated employees can focus on assignments without involving various departments. By analyzing reports, managers can determine the amount of workforce necessary to complete tasks on time. IWMS software has built-in sensors that monitor temperature and can make automatic adjustments when a room is too hot or cold. Managers can also use their smartphones to make the adjustments through the control panel.
The software can be configured to take automated actions, which helps cut labor costs. It can also be used to assign tasks to workers for monitoring certain assets. IWMS software can also track square footage, equipment status and number of people in a building vs. maximum capacity.
Essentially, IWMS software helps large companies analyze every square foot of space to make sure it’s utilized to be as efficient as possible. It empowers managers to make better decisions about strategic space planning. Consider IWMS if you seek space efficiency and sustainability to help cut costs on energy or labor.
Technological advancements have entirely reshaped the organizations by making their business processes highly integrated, and more streamlined. This is more so in case of small or medium enterprises. Run by a few people, small businesses need technology like nothing else. Technological advancements have facilitated these businesses in running their tasks smoothly and performing well than ever before. Are you keeping up with the technological evolution in the workplace?
Ever wondered how MNCs work by collaborating with their thousands of employees and resources from all around the world, and that too in real time? Well it’s all because of the biggest wonder of the 21st century — technology. Technology in the workplace is like a facilitator that makes an action or process easier to keep the whole workflow smooth and on track. Facility management software such as QuickFMS helps business leaders stay organized and up-to-date that in turn helps in business profitability.
Not long ago, companies were in mess as they had to deal with a lot of paperwork, meetings had to be held in rooms, travel expenses were incurred on client meetings and communication across the organization was not so easy. From the ways of communication, to the methods of solution, technology has helped businesses come a long way. All the operational and communication issues have now been simplified and streamlined with the help of new technology. Businesses no longer need to take a pause in any of their tasks.
Whatever barriers that used to be there long time back, like communication barrier, task performing barriers, management barriers, or outsourcing barriers, have been overcome by the invention of technology. Internet, and various software and applications have made it possible for the businesses to remain focused on their goals with no or negligible disruption by the day-to-day operational procedures.
Let’s see how technology is helping the businesses grow by leaps and bounds:
- Changing the Way Businesses Communicate:
Technology has changed the way people used to communicate at the workplace. The arrival of smartphones, social networking sites, chat apps has brought communication to a new level. Communication among the employees, or management to subordinates, or management to management has become fast, instantaneous, more deliberate, collaborative, and unified.
You can send emails, text or video chat or even video conference with subordinates or superiors through social networking apps like WhatsApp, Skype, etc. With the help of technology, you no longer need to be present at your workplace every time. You can engage in other important works outside the office, and keep in touch even face-to-face with your colleagues at the office through video chats and conference.
- Keeping It Fully Organized
Technology helps in keeping the business fully organized. Systems like Project Management Software helps in building, delegating, reviewing, and assessing a task. Employers and managers can easily supervise workplace activities that helps in keeping everything on track. It fixes the responsibility, accountability, efficiency, and timed delivery of tasks assigned to people.
The modern workplace has now many innovative products and software to increase the workflow and boost efficiency. Project Management Software helps improving the quality and quantity of work, and also helps in risk assessment by providing a red flag every time a task gets off track that might lead to a project failure.
- Making Business Operations More Productive:
Businesses nowadays rely on business productivity software that provides many tools to overcome challenges of executing on strategy every day. It enables managers to more easily track progress during every phase of goal completion and offer immediate reinforcement or coaching to keep performance and deadlines on track.
This is another example of the role of technology in improving the productivity and performance of the organizations. Access to new technology has enabled the employees to do things faster with precision and has helped in discouraging workplace distractions, thus raising productivity.
- Helping in Cost Management
Improving profitability is the ultimate goal of every company. Due to innovative technological software, companies are now becoming fiscally healthy as these innovations are proving to be more cost-effective. Every workplace has some chore tasks that need dedicated people to handle it. It needlessly keeps the costs high. This cost can also be reduced by installing SaaS tools in the workplace.
Through Saas tools, we can eliminate the manual handling of a task by automating wherever possible, and focusing on integration of different tasks. Not only that, automated processes give more accurate results, and help keep every record with its date and time mentioned. This way they are easy to be recalled for any business purpose. This overall management of costs at different levels provides better profitability by reducing the cost.
- Keeping the Business Secure:
Business workplace at its every level demands a great level of security for its safe running. Technology plays a vital part in doing so. It provides an end-to-end hardware and software-based data encryption so that only authorized parties are able to retrieve and read it. Fingerprint and facial recognition features give an added level of security to the systems at workplace.
The companies are using innovative technology and implementing security software and algorithms to make sure that the sensitive information is accessible to the right people and is protected from malicious hacking attempts.
- Giving Customizing Options:
Technology has made it possible to customize any software according to the variable business needs. Businesses are now using such software to manage their day-to-day operations. One such software that is becoming popular in the modern workplace is facility management software.
Whether large or small, every business workplace has its own way of doing things for achieving their goals. For that, they need a kind of technological support that suits their style of working and the customizable software is able to provide those services.
- Increasing Collaboration:
Technology has completely changed the way companies collaborate. Technology has helped us connect with people anywhere and at any time. This increased collaboration has brought a high level of flexibility in communication that allows employees, co-workers and managers to connect with each other easily.
As employees can now connect and communicate no matter where they are, this has helped in encouraging teamwork, mutual understanding and bonding between the employees. Improved level of collaboration also helps leaders and managers to stay in touch with their employees and manage them better. Increased collaboration on projects has enabled the companies to keep their clients updated on their project performance and progress.
- Reducing the Risk of Security Breaches:
Stealing critical and important information was easy in the past, but now with the use of technology, the threat of data thefts and leaks have been reduced. Proper security measures are being implemented in the workplace that helps in keeping important information safe.
It has also become easier to keep a check on the employee’s’ online communication and activities to ensure that they don’t get involved in any practice which is against the interest of the company. As employees know that they are being watched all the time, the likelihood of getting involved in any wrong practice is reduced.
- Improving Efficiency of Employees:
Time management is important in the modern workplace as poor time management can cause deadlines to be missed leading to an unhappy client. Time management has now become easier with the help of modern technological tools. These tools have helped in optimizing the daily working routine and enabling the employees to focus on the most important task.
This helps in increasing the efficiency of the employees, allowing them to meet the deadlines and eventually results in client satisfaction. As technological advancements have reduced the amount of time and effort spend on daily activities, employees can now spend more time on creativity and developing new ideas.
- Enabling Remote Working:
New technology has enabled remote working, teleconferencing and co-working space which has completely reshaped the workplace. Mobile and cloud technology has allowed instant and remote access which enables internet-based service models. This has resulted in interconnected workplaces not tied to one location, but many. They are hinged together by virtual conferencing, complete connection and portability.
Cloud technologies and improved IM systems have helped the employees to work from anywhere with the click of a mouse. Video conferencing has made it possible to co-ordinate with the best employees no matter where they are.
The impact of technology in the workplace is incredible. It has changed the way traditional workplaces used to work. It’s up to the business leaders to keep up with its evolving pace in the most efficient manner. Business owners cannot afford to compromise their company’s productivity, profitability, and security. By implementing new technological solutions and financial management software such as QuickFMS, business leaders can ensure optimal profitability and productivity at their workplace.