Advancements in technology make it easy to gather data and use it to improve efficiencies, service, and increase revenue for businesses, allowing organisations to effectively identify problems and highlight areas for improvement. According to the University of Salford, “the value of data analytics is understood by the industry [facilities management], yet the industry needs guidance and leadership.” So why do building managers hesitate when it comes to data management and digitization?

Like any business change, technology can appear intimidating, but it is more crucial now more than ever for the property sector to embrace it. Understanding the importance of building data is the first step towards unlocking the benefits it brings. By investing in new systems and processes in the short-term, the long-term benefits of digitization will provide a powerful return. Future proofing the sector to accommodate the evolving needs of tenants and occupiers, ensuring that the physical space continues to meet expectations and enhances the occupier experience, even with the impact of the current pandemic.

The introduction of technology and the analysis of building data is not intended to eliminate or replace the FM. Quite the opposite, by simplifying and automating previously manual processes it empowers them to make a greater impact. It provides valuable insight that allows for data-driven decision making and supports the transition towards more efficient ways of working.

The importance of building data

The benefits of effective data management and analytics can be seen across all aspects of building management and can be easily implemented through the introduction of integrated systems that seamlessly digitize processes. Take just one area of FM, such as bookings for example. From loading bays and meeting rooms through to cycle bays and tenant events, the traditional practice of accepting bookings via email or paper-based sign-up sheets may work on a small scale, but this method admits room for error and provides limited access to valuable analytics. A digital system not only provides instant and efficient management, it provides the data needed to effectively forward plan. This opens a world of possibilities for FMs to predict busy periods and plan staffing requirements accordingly as well as tailoring services based on previous interest, thereby increasing satisfaction and retention.

By taking such small steps towards digitizing everyday processes, the value of the asset increases intangibly. Digitization enables FMs to provide a better service and a more seamless experience for tenants, which as the knock-on impact of higher rates. Through analyzing what facilities and amenities are being used the space becomes more in tune with what the tenants need and want, as well as providing a seamless experience for them to access these.

The COVID-19 pandemic has had a considerable impact on working patterns, with many companies finding that they can operate without a physical office space. Attracting the workforce back into commercial property in the coming months is going to be a key priority. Through data and insight such as analyzing patterns and preferences, FMs and asset owners can create a space that is multifunctional and exceeds occupant expectations. Through taking small steps to improve the customer experience, buildings can see revenues increase in as much as 10-15 percent while lowering cost to serve by 15-20 percent (KPMG) and increasing their market competitiveness. This additional revenue can be as simple as generating customer loyalty that reduces turnover or providing such an exemplary experience that word-of-mouth recommendations attract new tenants without the need for marketing expenditure.

The impact of building data on performance

The evolution of the physical office space was in discussion even prior to the pandemic, only now there are higher expectations from tenants about what a workplace should be and what services it should offer. This impacts the role of the FM, with many expected to wear two hats – one of maintenance, process and general management and another of experience, service and engagement. For many this is a daunting prospect, but there is an easy solution. By investing in the implementation of technology, traditional time-consuming tasks are eliminated – freeing up crucial time to focus on delivering a service that tenants will want to come back to.

A new generation of employees are working more flexibly, a trend accelerated thanks to COVID-19 and advances in technology. Companies are seeing the workplace transition from static office cubicles for silent work, into a place for collaboration, meetings, and socializing – with homeworking being used for deep work and business-as-usual tasks. By harnessing the power of technology, building scans capitalize on this trend by providing a differentiated digital experience that adds value to the physical space as well as for remote workers.

Providing a structure and tools for distanced working can be beneficial for FMs as well as tenants and their employees. Technology gives building managers the freedom to work more flexibly themselves, including remotely. Take for example, the often-constant requests for maintenance or to resolve faults within a building. Access to a digital helpdesk allows tenants to raise issues directly in real time as well as monitor progress through to completion, in turn reducing the number of status update requests and complaints. It paves the way for building managers to access helpdesk tickets on-the-go, allowing them to effectively resolve issues at the touch of a button.

The data collected from a digital helpdesk then in turn provides valuable information for asset owners, who can then analyze the results to proactively anticipate problem areas. Reports can be generated to identify bottlenecks, ensure the building is compliant with SLAs, and improve performance and agility to deliver a great occupant experience.

The balance between technology & human interaction

Embracing technology and data does not mean the end of the FM. There is a gradual transition into a position that operates at maximum efficiency and can change with the demand for a building to provide a service as well as a space. This can only be achieved through the right ratio of technology and human interaction.

It is said that the younger generation of workers will have adapted to a fully digital consumer experience. Growing up with a multitude of services and communications available instantly, will they still have the same needs for face-to-face interaction with a brand? Andrew Saul from The Future of Real Estate Initiative at the Saïd Business School cautioned against pigeon-holing people through expectations. It would be too great a risk to provide a customer experience that is either all automated or all traditional service. The age-old argument of man or machine can again be looked at with the power of data. The industry can borrow strategies from media and communications – only by identifying and understanding the target audience, refining what message they want to hear and more crucially how they want to receive it, can FMs provide the most effective method of reaching them.

One of the FMs from Colliers explained,” it is unrealistic to expect technology to eliminate all problems. However, it does provide staff with the tools to deal with them more effectively. As a result, our customers have more confidence to alert staff of issues, allowing management to be more proactive. Thus, increasing customer satisfaction.”

It is crucial to firstly understand the tenant’s needs to provide a space that is fit for purpose and creates a happy environment to live or work. This also has the added benefit of longevity, by increasing tenant satisfaction and tenant turnover. This can be achieved through the analysis of the data that technology gathers.

The new generation of FMs

This shift in preferences and technology provides an opportunity for FMs to adapt and evolve; using the insight that technology provides to focus their energy on priority tasks that require their in-depth expertise.

Change will afford FMs more time to focus on the users of the building and constantly adapt the residential environment to where they can provide the biggest cost-savings, quality of life improvements or happier places to live; or in short, where a FMs can make the biggest impact to the business.

This development is an exciting one, transforming the position of the FMs to one that requires a mix of business, technical and customer experience skills. This new FM must provide elevated levels of service, and recruitment of the correct personnel is vital.

This change can only be facilitated by leaning on technology to manage areas that can be digitized; utilizing data to highlight areas of improvement and placing the facilities manager at the forefront of implementing this. As the demand for the physical space evolves and adapts, the advantages that technology and data bring cannot be overlooked, and those who are not open to change may well soon be overtaken by organizations who are embracing this now.