How to Optimize Your Maintenance Cost Control Strategy

cost

By: Rick Sung, Vice President of Sales

Attempting to manage dwindling funds halfway through a budget cycle can be a difficult situation, especially when emergency maintenance needs arise. Too many times businesses are hit with unexpected maintenance fees that cause overspending, which makes it near impossible to consistently stay within budget. If you find that your facilities maintenance frequently exceeds set budgets, it’s important to reassess the structure behind your maintenance cost control strategy.

Consider this: Structure drives behavior. If you don’t change the structure, you will get the same old behavior and outcomes.

In this blog, we’ll go over how you can optimize your approach to facilities maintenance management and how NEST’s total cost approach can reduce maintenance costs.

Reevaluating How to Reduce Building Maintenance Costs

Many facility management (FM) strategies today approach maintenance projects case-by-case, and they primarily focus on hourly rates when choosing their FM partners through the request for proposal process. While a service fee may be set at $65, often businesses incur unaccounted charges for overtime and travel expenses. It’s these additional fees that add up over time, exhausting budgets before the end of their cycles.

Companies who experience budgeting issues can contribute it to a number of reasons including:

  • Outdated or lack of FM software
  • Insufficient asset reporting data
  • Short-sighted tactical planning, rather than long-term strategic planning
  • Lack of staff or time to dedicate towards facilities maintenance strategizing

To avoid budget-depleting fees, you need to equip your company with the FM tools necessary for strategic budget planning. These tools should allow you to take an approach that always keeps the bottom line in mind. To simplify facilities maintenance management, NEST offers partnering companies a state-of-the-art FM software (NEST Facilitate) for accessible reporting, as well as industry-specific budgetary consulting for creating a strategized total cost approach.

How NEST’s Total Cost Approach to Facility Maintenance Works

The NEST approach starts with a discovery session to uncover what is or isn’t working with a company’s current operational services. We then complete a review of service expense data, company infrastructure, staffing, and FM technology. Our expert budgetary advisors use this information to create and propose a facility maintenance strategy—a total cost approach tailored specifically for the company. Once approved, the strategy becomes supported by our expert consultants and NEST ISP Network, a partnership between NEST and over 20,000 industry-compliant service providers. The long-term relationships we have within our ISP Network provide us with discounted maintenance services; savings which we pass onto our partners.

To mitigate any budget management risks, we guarantee the client’s budget and continually look for ways to save and improve. In conjunction with our ISP Network, this enables us to control costs, eliminate variables and miscellaneous fees, and stay within budget. We also include initial onboarding and continuous support to ensure partnering companies can make the most of the NEST Command Center and NEST Facilitate cloud platform.

Get En Route to Greater Cost Saving Initiatives

Using the NEST Method that includes NEST Facilitate, NEST Consult, and the NEST ISP Network, we can help your company create and optimize a cost control strategy. This proven three-pronged approach to maintenance management saves companies thousands on their bottom lines.

Here are just a few facilities management cost saving initiatives we’ve assisted our partners with:

Discover how much a total cost approach can save you! Give us a call at (844) 650-3721 or fill out our contact form.