Poor visibility into facility assets remains a crucial problem to improve the total costs of ownership of facility assets. Remember, the total cost of ownership of your facility includes every asset and activity, as well as a resource used in its lifecycle. While reducing the total ownership costs for your entire facility is great, it begins with meaningful improvement at the asset level. Reducing total ownership costs relies on determining the costs of buying, maintaining, and using an asset and making improvements that lower these associated costs. Failure to deploy the right technologies and capabilities to track data and understand your facility assets’ exact fees and influences will make it impossible to track your facility’s total cost of ownership.
Achieving actual reductions in the total cost of ownership through integrated facilities management requires comprehensive lifecycle management. Lifecycle management is about more than just the need to replace an asset and its replacement costs, it involves facility managers taking a holistic approach to maintenance, operating costs, replacement, ongoing maintenance, and effects derived from its optimum use.
Consider the total cost of ownership for an HVAC unit. Facility managers incur the fee of purchasing the equipment, installing it, and maintaining it. It may need to be replaced at the end of its lifecycle, but the actual total cost of ownership can be obscured through everyday operations. For example, did the HVAC unit’s malfunction contribute to an abandoned purchase on behalf of the customer who felt uncomfortable in your facility? Therefore, the only way to truly understand the total cost of ownership is to consider every possibility that could increase the charges to your organization for a single asset.
Merely knowing your current costs for an asset is only one solution: integrated facilities management lowers the total cost of ownership. Others include:
Integrated facilities management means bringing together energy, asset, and resource management with a platform that considers internal and external data to make informed decisions. Facility managers need to deploy a next-generation CMMS now and put the power of integrated services to work to reduce the total cost of ownership. Connect with ENTOUCH today to learn how to drive your total ownership costs down.
ENTOUCH is the leader in energy management-as-a-service and smart building technology. Our integrated, cloud-based software and technology, combined with 24/7 advisory services, render a 360° view of any facility ecosystem, fueling real-time decisions that reduce energy consumption, improve operational efficiency and extend the useful life of critical equipment for multi-site businesses across North America. Our customers operate in fitness, healthcare, retail, financial services, restaurant, childcare, and other markets and include Group 1 Automotive, Office Depot, ALDO, KinderCare, 24 Hour Fitness, and Chuck E. Cheese.
Contact us today to learn more about building energy efficiency and smart building technology.