IWMS or Integrated Workplace Management System is a tool used by businesses to control their building operations to increase efficiency. Ever found yourself notifying teams to turn off office electric devices before leaving for the day? Energy and workplace efficiency are critical requirements for businesses with sustainability gaining increased prominence since the global pandemic of 2019.
Most businesses swap power-consuming electric appliances with Energy Star ones for a quick fix. Those having many critical things for consideration and looking for active control over business operations may prefer to have an integrated workplace.
What is an Integrated Workplace Management System?
It is a software platform designed to centralize control over facility maintenance. The software helps businesses achieve operational efficiency, transparency, and cost reduction by rendering them with controls to manage things remotely.
How Does IWMS Benefit Industries?
IWMS is expected to see a rapid growth of CAGR 12.9% from $2.34 billion recorded in 2019 to $5.78 billion in 2027. The need for automation systems has been triggered by the 2019 pandemic and is driving its growth.
Businesses want to leverage this technology to achieve things such as reducing excessive dependency on manual inspections and facility maintenance. Let us see how an integrated workplace powered by an integrated workplace management system benefits various industries.
How does it benefit hospitality?
Most facility managers feel managing hospitality operations is similar to juggling multiple roles. High staff turnover rates, customer expectations, and maintaining compliance with regulations are some of the challenges faced by hospitality businesses.
As per the Bureau of Labor Statistics, the hospitality industry has recorded an annual labor turnover of around 70-80%. IWMS software can address some of the pain areas such as lack of predictability with scheduling, and customer satisfaction.
- Bringing predictability and reducing staff turnover
Even though irregular schedules are a part of the hospitality industry, they can lead to frustration and staff turnover. The software can help businesses better plan their facilities' maintenance and avoid excessively burdening the staff.
- Improving Guest Experience
Meeting guest expectations is the ultimate challenge every hospitality business needs to address. If the business is unprepared to deliver cleanliness, hygiene, and comfort, it will result in unsatisfied guests and loss of business. The software provides businesses with enhanced control over facility maintenance, thus helping them provide better guest experience.
How does it benefit CRE?
Commercial real estate (CRE) is a complex entity with different types of building assets based on the type of business holding the property. CRE managers have the complex task of providing a better experience to the tenants. Some of the complex CRE challenges along with how the software enables CRE managers to overcome them are explained here.
- Controlling costs
Operating a CRE can be a costly endeavor for real estate service providers. It might involve things like managing building assets, reducing power consumption, and conducting preventive maintenance. IWMS software provides a centralized control to monitor the assets and track their performance. It enables facility managers to take necessary steps to save power and conduct preventive maintenance.
- CRE market trends
The real estate market experiences frequent change, thus forcing managers to constantly develop strategies to stay successful. Failing to identify this trend can push the CRE businesses into deeper trouble, forcing them to exit the competition. The software can provide better control over managing building assets, generate insights, and ensure cost savings, thus making the spaces attractive to tenants.
- Environmental compliance
Climate change is an aspect of critical concern for governments worldwide. Commercial spaces are expected to stay sustainable and low on carbon. The software can help CRE businesses bring efficiency into managing the assets and make commercial spaces sustainable.
How does it benefits retailers?
Retail businesses are dynamic spaces where the manager needs to monitor the merchandise movement constantly. Maintaining sufficient stocks on the shelves and proper asset performance is essential for the smooth operation of retail businesses. An integrated workplace management system brings ease to inventory management by helping businesses avoid overstocking and also shrinkage.
Integrated workplace management systems can help retailers better manage lighting systems, improve customer experience, and also ensure safety for inventories. In addition, insights on other building assets along with store performance can enable them to improve store operations. IWMS is a software platform used by businesses around the world to bring effectiveness to their facility management operations. It helps businesses streamline facilities, bring transparency, and achieve considerable cost savings.
