Article Review: 9 Benefits of Space Management That Will Impact Your Bottom Line Big Time

Have you seen this article in IWMS News?  We came across it a while back and thought it was spot on!  Here are a few highlights and excerpts from it:

1. Identify Under-Utilized Spaces

45% of space is vacant at any time, which means companies are paying a lot of money to not occupy space!  Use an IWMS system to identify what space is not being used efficiently.  Once that’s done, you can implement necessary changes.

2. Align Workplace Initiatives with Business Goals

Without a firm grip on your space occupancy, organizations can’t align their workplace initiatives with their business goals.  Effective space management is a fundamental requirement for impacting bottom line results.

3. Forecast Future Space Requirements

In order to reduce poorly used space, you need to be able to forecast future space requirements.  Space management through an IWMS creates reliable forecasts and hypothetical scenarios to compare costs based on business evolution variables.

4. Simplify Chargeback Process

Space management helps analyze historical space usage and creates accurate chargeback reports for when disputes arise.  When departments are held accountable for their actual space usage, they tend to be more defensive, having a direct impact on your bottom line

5. Simplify Space Analysis

Space Management teams using an IWMS can analyze actual space usage, compare it with planned space usage, and present information in a way that allows you to make informed decisions.

6. Streamline the Move Process

Moves are expensive.  If you want to impact your bottom line via effective space management, you need effective move management.  This means streamlining the entire move process from request to completion in order to optimize churn rates and reduce costs.

7. Compare Actual with Planned Space Utilization

It’s very important to constantly compare planned space utilization with actual space utilization.  Using dashboards and business intelligence reports allows you to monitor actual space utilization and make changes in usage accordingly.

8. Increase Efficiency

Two co-dependent departments, like Accounts Payable  and Accounts Receivable, for example, need to ensure cooperation.  Most IWMS systems can graphically create scenarios based on interdepartmental relations. Now aware of what each other is doing, each department can function at its most efficient.

9. Utilize Building Information Modeling

A lot of information required for BIM is already in an IWMS, which usually is the dominant management approach for generating and managing a building. This means that most IWMS vendors will include geospatial information to create cost-effective space occupancy scenarios.

We thought these nine points were excellent examples of how important it is to have a quality IWMS system.  The impact IWMS makes to your bottom line is tremendous.  At RSC, we know we can help you achieve goals like those mentioned above and are happy to help you out every step of the way!

*disclaimer: most of the above text are words originally shared on an article posted at www.iwmsnews.com.  We do not claim them to be our own.  We are posting them to share information we found interesting or insightful.  Credit is given to the source*


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