Top Benefits of IWMS for Workspace
- Blog
- January 3, 2024
The adoption of Integrated Workplace Management System (IWMS) solutions is becoming increasingly prevalent among organizations tasked with managing workspaces and real estate. If you’re considering delving into IWMS software and want to comprehend its potential benefits, explore the various advantages outlined below.
How does an IWMS solution work?
An Integrated Workplace Management System (IWMS) functions by capturing and generating data and metrics related to various aspects of real estate and facilities portfolio management. This encompasses operating costs, energy consumption, maintenance management, floor plans, and more. The system then consolidates this data to offer a comprehensive view of the entire real estate and facilities portfolio. Leveraging this information can empower organizations to reduce expenses, swiftly adapt to changing occupant demands, make informed decisions about workspaces, and achieve sustainability goals.
IWMS solutions are constructed on the capabilities of technologies like computer-aided facility management (CAFM) software and computerized maintenance management system software (CMMS). CAFM software is designed to oversee and maintain all aspects of physical infrastructures, including reservation systems and energy management. Similarly, CMMS optimizes asset management and facilities maintenance operations by utilizing data related to equipment, infrastructure, and other physical assets.
While organizations may use separate CAFM and CMMS solutions, these systems often operate in isolation, lacking the ability to share information. This can result in data gaps and inefficiencies across different systems. An IWMS platform integrates CAFM and CMMS technology into a unified system, offering a consolidated perspective of assets throughout the real estate portfolio, revealing their interactions and impacts, and enhancing overall operational efficiency.
Understanding IWMS Software: A Comprehensive Overview
IWMS, which stands for Integrated Workplace Management System, refers to a digital platform designed to assist companies in optimizing resource utilization for effective workplace management. This encompasses the management of real estate, infrastructure, equipment, and human resources. Typically equipped with multiple modules, IWMS software is a powerful tool for enhancing organizational efficiency and streamlining various aspects of workplace administration.
Property Management Module: Within the Real Estate Management module, encompassing various business lines, an IWMS addresses the purchase, leasing, financial oversight, and disposal of real estate assets managed by a company. The property management module within IWMS incorporates portfolio management, lease accounting, tax management, transaction management, and strategic planning.
Workplace Management Module: The Space and Workplace Management module offers functionalities tailored for effective workspace administration. This includes managing workspaces, organizing spaces, room bookings and workstations, and overseeing air and energy management. Equipped with built-in 2D or 3D plans, this module seamlessly integrates data from sensors, such as presence and temperature, and can be linked to the maintenance management module for comprehensive workplace optimization.
Maintenance Management Module: The maintenance management module within IWMS monitors, analyzes, and schedules various types of maintenance, including corrective (reactive), preventive, conditional, or predictive. For optimal efficiency, an IWMS software solution should integrate all maintenance teams, whether in-house or external, when collaborating with service providers.
Integrated Services Management Module: Some IWMS software solutions feature an integrated management module that offers a service portal for potential customers. This portal allows users to make callout requests, book workplaces, and access external content, streamlining service-related interactions.
Energy Management and Sustainability Module: The latest IWMS software incorporates a dedicated module for managing and controlling energy consumption. This module aids organizations in reducing both the quantity and cost of energy consumption, contributing to enhanced sustainability efforts.
Gaining True Knowledge with IWMS Software: Many companies recognize that a lack of understanding of their real estate portfolio poses significant risks in terms of cost, compliance, and business continuity. In such cases, an IWMS solution becomes a valuable asset in planning maintenance, managing suppliers, and assessing the value and characteristics of assets. This powerful tool provides an eagle’s eye view of your business by creating a standardized database for all space, equipment, and property management processes. It allows you to precisely measure the surface area you occupy and meticulously track subcontractors’ work.
Guaranteed Compliance: Facility managers face an ever-growing challenge in ensuring compliance with evolving legislation and regulations, covering aspects like safety, maintenance, and the environment. Keeping up with numerous and stringent standards can be complex. IWMS software addresses this challenge by delivering features that guarantee compliance with standards and provide easily accessible documentation. This ensures that facilities are not only compliant but also allows organizations to prove compliance in the event of audits or incidents.
Importance of Integrated Workplace Management Systems (IWMS)
Integrated Workplace Management Systems (IWMS) play a crucial role in enhancing organizational efficiency and decision-making through centralized data organization. Equipped with built-in dashboards, mobile apps, and user-friendly interfaces, IWMS offers a transparent view of the corporate real estate portfolio. This clarity enables improved operational resilience, efficiency, and streamlined business processes by addressing key questions such as proper space allocation, maintenance schedules, and lease renewals.
One of the significant advantages of IWMS is the layer of automation it adds to various functions, a feature often lacking in separate solutions. Automation reduces manual intervention, streamlines processes, and minimizes inaccuracies. For instance, IWMS automates tracking and evaluation of building and asset maintenance, issuing work orders automatically when needed. This automation not only saves time but also reduces costs by swiftly addressing facilities and workspace-related issues, contributing to the overall well-being of facilities, employees, occupants, and the working environment.
Features and Benefits of IWMS
IWMS software offers a range of features and benefits that contribute to the optimization of real estate and facilities management, enabling organizations to:
Enhance Efficiency: IWMS facilitates the monitoring and management of all assets within the portfolio throughout their lifecycle. This proactive approach enables organizations to stay ahead in maintenance and service management. The platform automates maintenance and repair schedules, streamlines workflows, and employs predictive analytics to discover and evaluate potential issues before they escalate. For example, preventative maintenance ensures optimal asset performance, reducing downtime and operational costs. By efficiently managing energy consumption, executing required maintenance, and implementing sustainability initiatives, IWMS enhances overall efficiency.
Optimizing Space: IWMS software plays a crucial role in identifying needs, planning layouts, and effectively managing workspaces through accurate occupancy rates. Leveraging digital tools, the software automates tasks and utilizes data to optimize floor plans, maximizing space utilization and ensuring the availability of the right spaces when needed.
Elevating Workplace Experiences: Employee experiences significantly impact retention, with IDC research indicating that quality experiences are 87% more likely to boost employee retention. An effective IWMS solution optimizes space planning modules in real-time, ensuring the availability of suitable office spaces and meeting rooms. Digital tools empower employees by providing a real-time view of available spaces, easy reservation options, and the ability to request maintenance or other services. IWMS also facilitates environmental control, allowing regulation of temperatures, optimization of lighting, and the creation of easily accessible sanitation areas. This enhances overall workplace experiences and contributes to employee satisfaction and retention.
Incorporating Sustainability: With growing demands for environmentally friendly practices, IWMS empowers facilities managers to identify opportunities for reducing energy consumption and emissions. Energy management features, such as automatic temperature controls and lighting allocation based on actual occupancy and space plans, contribute to a significant reduction in a facility’s carbon footprint. An IWMS software solution has the potential to improve energy consumption by up to 11.5%.
Streamlining Real Estate Operations: IWMS software serves as a comprehensive platform that consolidates lease administration, management, and accounting requirements. It automates the tracking of lease renewals across multiple locations, simplifying lease agreements, and payments, and ensuring compliance with contractual requirements. This streamlined approach enhances operational efficiency in managing real estate portfolios.
Reduced Costs: The various benefits provided by IWMS software have a direct impact on costs. While assigning an exact price to these benefits can be challenging, studies indicate potential reductions in space costs (10-15%), process costs (5-8%), and rental costs (5-8%). More broadly, the overall savings on real estate and facilities, facilitated by data control and transparency, range from 10 to 20%.
Conclusion
Investing in an IWMS software solution empowers companies and organizations to make significant strides in space arrangements and management, leading to substantial reductions in operating costs. To maximize the effectiveness of this approach, it’s crucial to carefully prepare, build, and share the implementation plan, choosing the right tool and involving all future users.
Vlogic Systems presents a comprehensive digital workplace solution, strategically crafted to harness the latest capabilities in facilities management. Through Vlogic Systems, businesses can seamlessly oversee all their facilities via a unified platform. Ready to elevate your hybrid workplace with cutting-edge smart technology? Count on us to propel your business to new heights.
