FM:Systems was recognized as a leader by Verdantix in their 2017 Green Quadrant Analysis for IWMS. As a leading provider of Integrated Workplace Management Systems (IWMS) and Computer-Aided Facility Management (CAFM) software, FM:Systems differentiates its comprehensive solution with best-in-class capabilities for space optimization. FM:Systems garnered high remarks in its breadth of functionality in addition to its best-in-class capabilities for space optimization…
Verdantix awarded FM:Systems multiple perfect scores of 3.0/3.0 for the Scenario Planning module, Move Management module, and for space utilization data collection and analysis. FM:Systems is positioned as a leader in the industry, integrating scenario planning and real-time monitoring of space utilization with various sensors, such as heat and 3D people sensing cameras. These capabilities address the most urgent challenges in optimizing facility and real-estate resources.
“Our placement in the 2017 Green Quadrant for IWMS is a strong confirmation that we’re growing in the right direction,” says FM:Systems President Kurt von Koch. “Our customers’ success has always been the driving force behind FM:Interact, and we’re pleased to know that our commitment to our customers is being recognized and reflected by the industry, particularly in an industry that is so rapidly changing.”
[Admin: To see other related posts, use the FM:Systems tag or Verdantix tag.]
Real estate directors and heads of estates are always looking out for what will drive the next wave of office improvements and cost efficiency. Space management is one of those hot topics at the moment. There has certainly been a flurry of deals between vendors offering space management solutions, all aiming to offer end-users more options on how to make better use of every square foot they occupy.
But behind all the deals there are two distinct questions being answered: (1) How do I reduce space-related inconveniences like occupants struggling to find spare meeting rooms or desks, and (2) How do I reduce the amount of space I use whilst allowing my business operations to run smoothly?
FM:Systems updated its space reservation app and floor plan viewer, and Condeco integrated its room booking module with Creston’s scheduling software and touch screens. ISS is piloting a self-service app for room booking. iOffice launched Hummingbird, which offers wayfinding and reservations through an app… IWMS vendors like Accruent are also tapping space utilization vendors such as Serraview for reseller partnerships…
[Admin: This post is related to the 04.12.17 post about IWMS partnerships. To see other related posts, use the FM:Systems tag, Serraview tag, or Verdantix tag.]
In recent months, there has been a hive of activity across employee engagement apps in the real estate and facilities management software market. For example, iOffice launched “Hummingbird”, an employee-centric layer for IWMS, IBM and ISS are piloting a digital concierge service which assists occupants in managing everyday workplace tasks such as room booking or organizing catering, and MCS launched a virtual personal assistant “Sumi” that can support the booking of rooms.
The latest product launch from UK-based software firm FSI is “Concept Advantage” – a series of user-focused apps which can be used alongside FSI’s Computer-Aided Facilities Management (CAFM) software. The initial range of apps includes “ChatLog” – a facilities help-desk that resembles common social media platforms, and “OurSay” – a crowd-sourcing and voting tool to enable workers to contribute to facilities management decisions. FSI believes the app will also reduce the time that facilities help-desks spend receiving calls around building issues.
The recent innovation around purpose-built user-focused apps represents a break from traditional practice. For many decades, the user interface of IWMS and CAFM software has largely been built around the needs of “power users” such as Real Estate or Facility Directors. Whilst it has been possible to configure the user interface to simplify it, the result is not always a clean and intuitive user experience. The recent user-centric product updates are likely to be welcomed by customers.
We continue to hear that buyers look for a high-quality user interface from their facility management software…
[Admin: This post is related to the 06.06.17 post about employee-facing tech in the workplace. To see other related posts, use the Verdantix tag.]
Improving maintenance procedures through predictive analytics has recently seen many notable developments. Siemens is integrating IBM Watson Analytics into its MindSphere platform to help implement predictive maintenance schemes. Rockwell Automation recently launched its predictive analytics capability for factories and machinery. And PTC and Deloitte Digital announced that they are jointly developing predictive maintenance solutions for factory operations.
These developments are hardly surprising. Predictive analytics enables users to detect if, and when, machinery is likely to breakdown. For example, predictive analytics enabled Duke Energy to identify a slight increase in the turbine vibration of a steam turbine – after maintenance was performed. The subsequent repairs resulted in $4.1 million of potential power generation loss being prevented. Facility managers at plants and factories are therefore likely to be looking for such solutions to keep things running.
But is predictive analytics a natural sell in the world of commercial real estate? There is certainly some evidence of this. Since 2009, UK-based retailer Sainsbury’s has used software provider Verisae’s (now part of Accruent) predictive maintenance solution to reduce product loss from refrigeration failures. Since 2016, engineering firm KONE has partnered with IBM Watson to embed intelligent analytics in its elevators and escalators to improve their performance and reduce instances of unplanned maintenance.
Nevertheless, such examples are not necessarily the norm. According to our 2016 Global Energy Leaders Survey, 46% of the 250 facility managers surveyed said improving the collection, analysis and reporting of energy data from their electrical assets is a very important priority. In contrast, more granular asset-level energy management was only considered very important by 22%. And in our 2015 Green Quadrant for Building Energy Management Software, only 18% of the customer panel we interviewed considered maintenance scheduling and predictive maintenance to be a very important asset management functionality.
The average facility manager is therefore more likely to be concerned with basic data capture than advanced solutions like predictive analytics…
[Admin: This post is related to the 07.13.17 post and 03.16.17 post about IBM Watson Analytics, and the 08.01.16 post about the competitors of IBM TRIRIGA. To see other related posts, use the Verdantix tag.]
Are you getting ready to address the implications of the new lease accounting changes with TRIRIGA? Although FASB’s ASC 842 and IASB’s IFRS 16 will take effect in 2019, many organizations are only now beginning to realize the amount of effort required to meet the new standards…
The biggest changes to businesses will be the new Right of Use (ROU) Assets and Lease Liabilities that will hit balance sheets, as well as the intensely manual approaches and effort that many see before them. How many organizations are leveraging Integrated Workplace Management Systems (IWMS) to manage their real-estate holdings and automate these manual efforts?…
In order to help organizations comply with the new standards, and understand the implications of these changes, TRIRIGA continues to deliver a single integrated workplace management system with new enhancements in the next release. TRIRIGA supports the lifecycle of facilities management and will automate compliance activities to address changes that affect multiple teams and roles.
Here’s how TRIRIGA can help:
- CFO and CAO: The release of IBM TRIRIGA 10.5.3 will provide a sub-ledger system for real estate and asset lease accounting that is able to generate journal entries out-of-the-box for ASC 840 and ASC 842 under US-GAAP as well as for IAS 17 and IFRS 16. It also covers period closings and report generation for the most common reports required under the new standards.
- Real Estate and Fixed Asset Managers: The release of IBM TRIRIGA 10.5.3 separates the duties of a lease administrator and a lease accountant, allowing the lease administrator to enter contractual information, and then enabling the lease accountant to run classification tests, reassess lease decisions, and report on the ROU Asset and Lease Liability.
- Facility Management, and Occupants: There are also new capabilities to improve day-to-day and occupancy experience. They can leverage a new Workplace Services offering that engages everyday employees through new mobile web apps that provide access to services managed by IBM TRIRIGA, anywhere, and on any device. This includes: a new Service Request app to submit work requests, a new Reservation app to quickly create reservations for individual workspaces or multi-attendee meeting rooms, and a new location-aware Workplace Services Portal to provide a single, unified access point for launching the apps and tracking status of requests…
[Admin: To see other related posts, use the FASB tag or IFRS tag.]
Integrated Workplace Management Systems (IWMS) were developed in the ’90s to address the technical limitations of sharing data between multiple real estate and facility management teams. The benefit of IWMS was having a single system for managing the entire real estate portfolio lifecycle. Since these systems were designed for traditional office space, progressive companies are starting to doubt the ability of IWMS to support the transition to the modern workplace…
It is no secret that IWMS are cumbersome to use, which results in companies hiring high-priced consultants for implementations. Paired with its lack of features and flexibility, IWMS frequently exceed their original prices due to customization…
To combat these issues, progressive companies are leveraging (IWMS 2.0) best-of-breed space management technology to augment their existing investment in traditional IWMS to support their modern workplaces. Space management technology is able to address the new requirements of modern workplaces such as neighborhoods, seating ratios, real-time utilization, and highlighting the differences between actual usage of space and allocation of space.
To learn more about IWMS in the modern workplace, download our white paper: “Can Traditional IWMS Meet the Requirements of the Modern Workplace?”
[Admin: To see other related posts, use the Serraview tag or IWMS 2.0 tag.]
Verdantix attended IFMA’s World Workplace Europe conference on 31 May to 01 June. This major event for the facilities management sector had almost 400 attendees including facilities and workplace management professionals, service providers and technology companies.
So, what was the hot topic? One major theme of the event was how to connect people to the workplace using digital technologies. For example, we heard that facilities management firm ISS is piloting a digital concierge service which assists occupants in managing everyday tasks such as room booking or organizing catering. It is based on providing occupants self-service apps, as well as chatbots which simulate conversation to respond to worker requests.
Engaging occupants has become a hot theme across real estate, energy and facilities management software markets. For example, incorporating crowd-sourced insights on temperature preferences is gaining momentum in energy management applications, witness Energy Deck or Honeywell’s Vector Occupant App.
In the integrated workplace management system (IWMS) space, developing modules to engage everyday office workers has become a recent focus. For example, in May 2017, IWMS provider iOffice launched a set of employee experience solutions which can be layered on legacy IWMS solutions, to quickly make systems more employee-centric…
[Admin: This post is related to the 06.30.16 post about ISS and IBM transforming the management of 25,000 buildings. To see other related posts, use the Verdantix tag or iOffice tag.]