Though one regional financial institution had a facilities partner in place, they had a problem: their FM program had little to no management structure, nor did it have operational procedures in place. As a result, the financial institution wound up paying for costly, preventable repairs. Without any operational or financial data analytics, the institution experienced price variability across all of its branches without any of the information it needed to create a solution.
In short, this institution was lacking strategic, proactive facilities management plans. From undefined service levels and KPIs to inconsistent scopes of work and service results, the company was suffering from ineffective service delivery. While brand managers were making agreements with service providers, they were also receiving inconsistent invoicing from each partner. What’s more, their small team could not manage these operational inefficiencies. They needed a change.
We saw a facility cost savings of over 14%, increased brand image consistency, and greater effectiveness in brand managers with the burden of facility maintenance management lifted.
The NEST Solution
Upon partnering with NEST, the institution’s existing service providers were absorbed into the NEST Independent Service Provider (ISP) Network. Now, the NEST Compliance Team could vet all of the client’s providers and manage the codes for each branch. NEST also oversaw the risk mitigation department to both verify and manage insurance and background checks—alleviating this burden from the financial institution entirely.
First, NEST began servicing the client by managing three- and five-day janitorial services—window cleaning and floor care—for 34 of its branches. NEST also created a unique program cost framework: a cost-by-branch divided by per-square foot model. Now, each branch across the network could get the same consistent service. By partnering with an integrated facilities management team like NEST, the financial institution gained 24/7 oversight of their program and NEST’s project managers became an invaluable extension of each site’s team.
With NEST’s guidance, the financial institution saw a 14 percent increase in cost savings across its entire program, which it has sustained over a 10-year partnership. By taking a proactive approach to cost-cutting, the financial institution transitioned to a fixed budget, complete with predictive billing—a tool that afforded them extra cost savings. With NEST as its integrated facilities management partner, the client achieved new efficiency benchmarks by having a committed facilities partner and access to technology that could deliver real-time access to all of its operational and financial data—at no extra cost.