IWMS, or Integrated Workplace Management Software, is a software solution that facilities managers, real estate managers, and maintenance companies need to organize and manage their workflow.
IWMS was a term invented by Gartner in 2004 to describe a platform solution that will integrate data for various workplace management areas.
The application of this integrated software solution is diverse. From corporate real estate agents to facilities managers, to HR and internal resources managers in other corporations, all require such software.
In this article, we will discuss five reasons why your organization needs IWMS.
Reason #1: Space Management
A workplace is a spatial arrangement within a physical location to assemble and get an organization’s work done to achieve its goals. In that respect, the spatial arrangement requires careful integration and management.
Knowing what resources, which boardrooms, and what office space is used for which purpose is an integral job of a facility manager or an office manager. They will require a solution where they can visualize and organize space and ensure all the resources needed are being met.
For this reason, having a space management software has been essential for any individual or group responsible for spatial arrangement and resource planning.
IWMS solution includes the space management data integrated to facilitate resources better, manage occupancies, room reservations, and use it to better move and establish new workplaces.
Companies that have adopted the centralized IWMS system have seen enormous efficiency in their productivity as workers can focus on their work instead of book meeting rooms.
Reason #2: Real Estate Occupancy & Lease Accounting
For real estate holdings companies, keeping track of their assets, occupancy, leasing vacancies, and costs are essential data. Several regulations from IASB and FASB lease accounting standards, this data is mandatory to be managed carefully and accurately.
The accounting standards require records of leases, ownership, lease terms, start and end date, and costs. Real estate managers can use IWMS to manage occupancy, leasing, and vendors and access the data from a central integrated platform. Integrating this data and information leads to effective communications and efficiency of workflow within the organizations.
As information is power, and centralizing that data and ensuring users input their part into the system will mean an IWMS software will be fully integrated into the business.
An IWMS can also reveal wasted space in the portfolio of asset managers. Companies claim that their cost efficiency has improved by 10-15% after adopting IWMS and utilizing the occupancy data and analysis.
Reason # 3: Maintenance Management
Facilities managers also require maintenance management software to organize the work orders for maintenance, preventative repairs and looking after the resources needed to extend the assets’ life.
They are also responsible for the physical comfort of the occupants in the space they are managing.
In a post-pandemic era, maintenance management has taken an even more significant, more prominent role as it now includes proper disinfection and social distancing objectives.
Once again, an IWMS will centralize all the data and workflow documentation into a centralized maintenance management software (also known as CMMS) for facilities managers. This is another reason why IWMS is so critical to organizations and real estate asset management.
IWMS properly implemented can save tremendous costs on maintenance management. Decision-makers can see precisely how much time and expenses each asset maintenance incurs. This data will help data-driven decision making in ensuring the outsourcing of facilities maintenance is done more cost-efficiently.
Reason #4: Capital Project Management
Any real estate asset manager will know that there will always be capital project management involved in planning assets and extending their lives.
Construction managers, project managers, and others involved in the design, blueprints, project mapping, financial planning, and legal and regulatory compliance require a centralized data center to access information and maintain transparency.
This is where IWMS will integrate project management elements with a focus on capital and real estate management. Another reason why IWMS is so critical to this sector.
Chances are many companies already have a patchwork of legacy software to manage this data and workflow information. However, switching to an integrated IWMS system can save thousands of dollars wasted in licensing, procurement, upgrading, and contracting several other software solutions that don’t speak to one another.
Reason #5: Energy Efficiency & Sustainability Management
Climate change is a top concern and priority to the public of the developed nations. Governments are implementing a carbon tax and pollution taxes across several jurisdictions. In this climate change era, businesses’ greening has become the focus of many social responsibility programs in the corporate world.
According to Forbes, 80% of investors consider ESG (environmental, social, and governance) data when making investment decisions.
In that regard, energy used to power, heat, and cool large workplaces have particular attention. The mandate has been to cut energy use and bring in more efficiency.
Corporate leadership has pledged to cut carbon emissions, and many are filing sustainability reporting. For this, they require data on energy use. They will also need the energy data to make data-driven decisions on how to use space and efficiently reduce their carbon footprint.
An IWMS system can centralize the energy consumption data to provide better visibility to their utility costs. Decision-makers can use this data and trend to take advantage of government programs to use energy during off-peak hours and reduce waste by ensuring proper insulation and air control.
Whether your organization is in real estate, healthcare, corporate facilities, IT and telecom, manufacturing, or agriculture, IWMS software is an essential part of today’s workplace management. Whether it is to increase efficiency in space utilization or to reduce energy usage, an IWMS will be the central data system for you to make data-driven decisions.
As the pandemic shapes our economy and our workplaces permanently, we will be looking at different ways of doing business, managing our workplaces, and maximum efficiency.
For this reason, considering an Integrated Workplace Management to centralize and visualize data required to manage a workplace is critical to the success of any business.