Facilities management firms could immensely benefit from deploying IoT platforms, which also unlocks new business models. Source: Shutterstock

Facilities management firms could immensely benefit from deploying IoT platforms, which also unlocks new business models. Source: Shutterstock

Here’s why facilities managers need to look into IoT platforms

FACILITIES management companies are now faced with more challenges than ever before.

Buildings are getting bigger and more complex, while customers and tenants are increasingly demanding better services.

Further, there are increased concerns regarding the need for energy efficiency, reducing power and water wastages, as well as optimizing utility costs and so forth.

Building management companies need innovative tools and solutions that would allow them to gather real-time data and monitor all the different metrics on a single pane to help them make operational decisions and make future improvements.

In other words, building managers need an internet of thing (IoT) platform to thrive in this day and age.

An IoT platform is a collection of devices and sensors that are connected to a network to gather and transmit data to a central server which could trigger specific action or analyzed for insights.

Buildings management companies could save themselves a lot of headaches if they leverage the technology, which will improve operational efficiency and add further value to their services.

Improved cost efficiency

Companies within the industry are probably well aware of the fact that the industry is highly competitive, and a small reduction in operational cost goes a long way towards gaining an advantage.

This is where IoT deployment can be a game changer. By installing smart sensors, companies could monitor their facilities remotely and only deploy technicians for routine maintenance or if there are any issues.

These sensors, coupled with tools such as computerized maintenance management systems (CMMS), also enable automation to optimize the power supply and other utility management.

Beyond that, data generated from the sensors could be analyzed to perform predictive maintenance.

Expand service scope

With properly deployed IoT devices, buildings will be more connected than ever before, and sensors will produce massive data sets.

The insights from the data could present new ways to serve current customers and create new revenue streams along the way via outcome-based contracts.

Data will enable the companies to reduce maintenance costs, offer tailored and customized services, mitigate risks associated with buildings, and optimize resources, among other things.

Companies could offer these savings to their consumer to further enhance customer experience while gaining a competitive edge.

Enhance overall occupant experience

Another concept which is related to the customer experience is general occupant experience, which also is improved with IoT platforms.

With optimized building management, maintenance of the building will be vastly improved, resulting in minimal to no breakdowns of facilities or interruption of essential services.

Further, the general condition of the building, including temperature, lighting, and HVAC could also be adjusted automatically based on occupancy, guaranteeing maximum comfort at all times.

Beyond that, companies could also fulfill sustainability or environmental goals by transforming buildings into energy efficient smart facilities, with the help of IoT.