The Chief Financial Officer’s Guide to Facilities Management

As CFO, you have the serious responsibility of driving and implementing strategies that move the business forward. This requires the CFO to play both offense and defense, requiring a delicate balance of making big investments while keeping a sharp eye out on the bottom line.

While you may not directly be involved in the day-to-day business operations, you are invested in the company’s brand identity and how it affects company growth and stakeholder value. You are constantly poring over the numbers with keeping costs in check and operational efficiencies high. You stand at the forefront of all financial responsibility and love when new systems are presented with sound metrics and data. At the end of the day, your biggest concern is ROI.

How Service Automation Works

You can generate massive ROI by improving efficiency in the repair and maintenance of the company’s facilities and real estate. Facilities can be the backbone of a company’s business, especially for industries such as retail. With the right system in place, you can speed up operations, provide key business insights, and reduce facilities-related costs across stores and regions. It’s just about finding the right tools.

Benefits of Service Automation

It goes without saying that you as CFO hold a large amount of influence over the financial decisions in a company. Increasingly though, CFOs are also more responsible for steering the technology direction of the company as many of these solutions are designed to streamline business operations and process valuable data. This is the case for Service Automation, which is becoming the platform of choice for optimizing repair and maintenance and collecting, processing, and analyzing facilities data across all your locations.

Service Automation enables multi-site facility managers to perform a range of functions related to ongoing repair and maintenance such as asset management, work order fulfillment, payments, and analytics. All managed through a web-based dashboard, it enables facility teams to optimize spend and ensure a quick time-to-resolution. The end result? Less budget going toward store maintenance and shorter downtime if an issue does occur.

Discover how facilities management impacts your overarching operations and best practices for optimizing R&M so your company can cut costs and spend money where it matters.

Recent Blog Posts

A selection of thought leadership articles to help solve your day-to-day challenges:

Blog Post

How to Create a Comprehensive 2019 Repair & Maintenance Budget

Blog Post

How to Find the Hidden Costs in Your Invoicing Processes

Blog Post

How to Reduce Equipment Maintenance Costs

How to Balance Replacement Asset Value with Maintenance Cost Percentage

Related Resources

5 Perils of Outsourcing Your Facilities Management

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2019 Facilities Management Survival Guide

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Case Study:
Louis Vuitton

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Why Buy a Facilities Management System

Frequently Asked Questions

What modern CFOs are thinking about:

Why Do I Need Facilities Management Software?

Facility management software captures all data related to your facilities maintenance program. All work orders, service requests, planned maintenance schedules, and equipment data, including invoices and warranty are easily accessible and stored on a single platform. This improves both your facilities management performance and your financial performance across all activities.

What Are FM Costs and Where Are Potential Savings?

Facility management software is connected with financial systems as a way to reduce manual data and ensure consistency. Cost transparency is key. FM software provides an inside look into dashboard metrics such as cost per square foot per year, per user, per workplace, per month, and many other relevant reports. These metrics and reports all help FM's identify and best determine savings based of deviations, trends, and both external and internal benchmarking.

What is the Best Sourcing Strategy for Reducing Costs?

Operational facilities or real estate services such as catering, security, cleaning, or maintenance are often outsourced to professional service providers who make promises about substantial cost savings. However, these promises often don’t materialize and costs end up being higher than if you sourced internally. Facility management software gives you the best available sourcing strategy with up-to-date information and analytics on the latest facilities trends while reducing costs. With true ownership over the level of service being delivered to your customers, you can be assured you are making the best fiscal decision for your company.

Industries We Serve

Every industry has unique facility maintenance challenges. Let us help you set up the right software solution to improve the efficiency of your facilities and gain insight into spend, all from a single Service Automation and reporting platform.

retail

Retail

Luxury Retail

Luxury Retail

Restaurants

Restaurants

Grocery Stores

Grocery Stores

Convenience Stores

Convenience Stores

Spas & Fitness

Spas & Fitness

Financial Services

Financial Services

Healthcare

Retail Healthcare