Verdantix: Accruent to be acquired by Fortive for whopping $2 billion


On July 31, 2018, industrial technology solutions giant Fortive announced that it has entered into an agreement to acquire Accruent, a real estate and facilities management software provider, from private equity firm Genstar Capital. Fortive will pay $2 billion in cash and expects Accruent to generate revenues of $270 million in 2018. This will come from its suite of software products used by Accruent’s 10,000 customers. Upon completion of the acquisition, Accruent will become part of Fortive’s portfolio of Field Services solutions alongside other brands such as Fluke, Gordian (RSMeans), and Industrial Scientific. Verdantix finds this is the biggest deal to date in the $4.9 billion market for real estate and building management software, which we define further in our recent report

What does the deal mean for the broader real estate and building management software market? The deal shows the market is consolidating at a rapid rate. The largest real estate software vendors MRI, RealPage and Yardi have been locked in an arms race of acquisitions to further bolster their scale. Meanwhile, IWMS vendor Planon has pursued targeted acquisitions to support international expansion. This latest deal also highlights the emerging push by software vendors to make greater linkages between software used during the construction and operational phases of buildings. Witness Elecosoft, a construction software provider, acquiring Shire Systems, a CMMS vendor, to offer the construction firms and property investors it engages with a maintenance management solution…

[Admin: This post is related to the 08.01.16 post about CAFM, CMMS, EAM, and IWMS competitors. To see other related posts, use the Verdantix tag or Accruent tag.]

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Verdantix: SpaceIQ seeks to disrupt the IWMS marketplace


SpaceIQ, a provider of IWMS and CAFM solutions, announced its official company launch. Headquartered in Silicon Valley, SpaceIQ offers a workplace management platform that supports customers with space planning, move management and real estate data management. It aims to bring a next-generation IWMS solution to market which is employee-centric, prioritizes user experience and responds to the latest real estate trends such as worker productivity and employee engagement…

SpaceIQ’s focus on user experience feels very in line with market requirements. Verdantix finds that SpaceIQ could also consider developing broader functionality into areas such as maintenance management or lease management. Our research shows that large customers are keen to implement a platform from a single vendor with multiple modules spanning real estate and facilities management, as they rationalize IT systems and look for the benefits of centralized data…

[Admin: This post is related to the 08.01.16 post about the competitors of IBM TRIRIGA, and the 08.22.17 post by Verdantix about IWMS competition intensifying. To see other related posts, use the Verdantix tag or IWMS 2.0 tag.]

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Verdantix: Accruent continues its acquisition spree with Lucernex


On 9 August 2017, real estate, facilities and asset management software provider Accruent announced it has acquired Integrated Workplace Management System (IWMS) vendor Lucernex. Genstar Capital-backed Accruent plans to use this latest acquisition to target emerging lease accounting opportunities, as the major accounting boards FASB and IASB require organizations to bring all leases on the balance sheet in 2019. This follows a furor of acquisition activity by Accruent, with its 2016 purchases of BIGCenter, Mainspring Healthcare Solutions, and Verisae

Accruent now owns a roster of industry-specific and specialist software solutions for managing real estate and facilities. As it runs a product integration program through to 2018, it is positioned to provide a platform that is not only broad but also offers a lot of depth and industry-specific functionalities. With prominent IWMS vendors fighting to deliver the most complete software for real estate and facilities life-cycle management, all eyes should be on how well Accruent manages to integrate its various software solutions into a powerhouse IWMS platform…

[Admin: This post is related to the 08.01.16 post about CAFM, CMMS, EAM, and IWMS competitors. To see other related posts, use the Verdantix tag.]

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FM:Systems: Five new features of the FM:Interact 2017 release


We are very excited to announce the release of FM:Interact 2017. With this release, we’ve enhanced previous functions to improve user experience, and created brand new ones in order for organizations to get the most effective utilization of their space. So let’s get to it. What are the new functions?

1. Scenario Planning

You’ve been hearing some whispers about it, but now it’s fully developed! The Scenario Planning module provides you with the ability to create, visualize and “try on” potential space situations, such as build-outs, expansions, reorganizations, consolidations or reconfigurations — so you’ll be prepared no matter what happens…

2. FMx5 Markup & Measure

Markup and Measure provides users with the ability to draw and create spaces DIRECTLY on the FMx5 floor plan. After you save, you can see those changes reflected in AutoCAD real-time. This one is my personal favorite…

3. Data Change Request

To maintain the integrity of your Space Data, the ability to make changes are usually limited to Power Users and Space Planners. With this release, general users can now request changes to space while allowing planners and administrators the ability to review, accept or reject those changes before they ever hit production…

4. Data Auditing

You now have the ability to track everything that happens to your FM:Interact data by having visibility into all data actions performed by system users. This gives you insight on why a record has been modified, who modified it, and when…

5. FMx Sensors

Get real-time space utilization analysis on your facility data with our integration with seat utilization sensing technology and 3D Stereoscopic cameras. This gives you an unprecedented level of insight on how their facilities are really being used…

[Admin: To see other related posts, use the FM:Systems tag.]

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Verdantix: 83% firms used energy management to optimize assets


According to the 2016 Verdantix annual survey of 250 energy and facility decision-makers, 17% of firms continue to separate energy and asset management processes, 58% use energy management to inform asset management, while the remaining 25% of firms have fully integrated energy and asset management…

The landscape of vendors providing solutions for improved asset management is broad and highly competitive. Firms range from integrated workplace management system (IWMS) providers such as Accruent, iOffice, Planon, Qube, and Trimble Manhattan; to computerized maintenance management system (CMMS) providers, such as Dude Solutions and eMaint; to building energy management software providers, such as Envizi, Schneider Electric, and Siemens; and smart building platforms, like Switch Automation. The next five years will see an increased emphasis on partnerships as vendors seek to provide additional value add capabilities including advanced analytics and enhanced data capture functionalities

[Admin: This post is related to the 08.01.16 post about the competitors of IBM TRIRIGA. To see other related posts, use the Verdantix tag.]

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Verdantix: Who are benefiting from the changes in lease accounting?


In early 2016, the US Financial Accounting Standards Board (FASB) and the International Financial Accounting Standards Board (IASB) issued new lease standards, which require companies to include lease obligations in their balance sheets. The new standards take affect 1 January 2019 and will impact all companies that have leases for real estate or equipment and file financial statements…

For many years, IWMS software providers have provided real estate, leasing, and portfolio capabilities, which include modules that integrate details of leases and contracts with existing financial and accounting systems to provide a central database for real estate financial planning and analysis and to create the correct entries for the accounting system. The new FASB/IASB accounting standards bring the spotlight on the role of software in managing leases.

A review of the deals in the public domain shows that providers such as Accruent, Lucernex, and Qube are already swooping in on opportunities to help companies mitigate risk by ensuring compliance to these new leasing standards. In the last few months, Lucernex has announced several new contracts with retailers such as Bouclair, DXL, Bashas’ Family of Stores and Suburban Propane. Accruent has been selected by CTIL, Tillys and Sephora in just the last few weeks. We are also witnessing other IWMS vendors improving their capabilities for accurate lease calculations in accordance with the new lease accounting standards. For example, in April, Planon software received validation from a Big Four accounting firm that its leasing calculations engine was in accordance with the IASB/FASB requirements…

[Admin: This post is related to the 08.01.16 post about the competitors of IBM TRIRIGA. To see other related posts, use the FASB tag or IFRS tag.]

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Serraview: IWMS 2.0 achieves true integrated best-in-breed systems


With the emergence of new workplace models and technologies, we are starting to see a shift away from traditional Integrated Workplace Management Systems (IWMS) to stand-alone software systems integrated through common APIs in order to achieve true best of breed capabilities across multiple service needs. In fact, one of the original founders of the IWMS concept, Michael Bell, has defined this shift as IWMS 2.0. According to Mr. Bell, IWMS 2.0 has the potential to achieve lower costs, faster implementation and valuable data-driven insights…

At Lighthouse.io, we are strongly aligned with Michael Bell’s IWMS 2.0 vision. We are focused on solving very specific challenges for facilities managers… For a facility manager, these challenges form only one part of their overall remit. Whilst it’s tempting to build out a system that covers the entire facilities management function, we realize that by doing so we would be sacrificing the quality of our core product. Therefore, our preference is to integrate with complimentary products that are best of breed and solve a different set of challenges for facilities managers.

To illustrate the IWMS 2.0 model in practice, let’s explore how Lighthouse.io could integrate with another best in breed software product – Serraview. Serraview is a leader in space planning and management. Lighthouse.io is a leader in commercial cleaning software and optimizing delivery of facilities services. Combined, these two products can provide facility managers with an end-to-end solution for managing employees, assets, and delivery of facilities services…

[Admin: This post is related to the 08.01.16 post about the competitors of IBM TRIRIGA. To see other related posts, use the Serraview tag.]

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