By: Jon Brumbaugh
Finding and implementing new ways to optimize facility maintenance spending is a difficult undertaking, yet it is a necessity for long-term success. With an optimal maintenance strategy, you can craft better budget structures and prevent wasted money on failing or aging equipment. So, how can you optimize and reduce your facilities maintenance costs?
While some changes to your maintenance program may take longer to roll out, the sooner you’re able to optimize your strategy, the sooner you’ll start seeing greater returns on your investments. Here we’ll show you some strategies and tools you should consider to reduce your facilities maintenance costs.
Consolidate Facility Analytics for Smarter Decision Making
When auditing your locations, are you able to view all expense reports when and wherever you need to? Do you have the right software to help keep your data organized and easily accessible or are you still using basic spreadsheets? If your reports are sitting on an office computer as separate files and can only be accessed directly, you’re missing out on seeing the full picture of your company’s maintenance expenditures.
We’ve found that using a computerized maintenance management system (CMMS) allows for facility managers to make smarter decisions. That’s why we created NEST Facilitate, a cloud-based CMMS that consolidates facility analytics for easy readability and remote access regardless of where you are. The main point here is the consolidation of all your data in a single place to optimize how you manage your assets. From a technology perspective, if you’re managing through another system or managing on a desktop in folders in an office somewhere, you’re missing out on critical data for optimizing your maintenance costs. This technology brings your data together and gives it a consolidated view so that you can make better and more informed decisions. This technology not only makes accessing your data convenient, it also makes reading your data more clear as to how your budgets are being used and where you’re able to reallocate funds to save on expenditures.
Continuously Track Assets and Leverage Your Resources
Repairing or replacing assets can consume the majority of your budget, so make sure you are looking at the bigger picture. Using a CMMS tool like NEST Facilitate will help provide the full view of your facility analytics, but pairing it with a dedicated consultant’s perspective makes for an even more powerful decision making tool. Consider the following:
- How often do your assets need repairs?
If your assets need repairs often, you may save more money in the long run by simply replacing them. The cost efficiency of new equipment can often outweigh the costs of constant repairs and productivity issues caused by them.
- Are you spending too much on replenishing supplies?
You’ll save the most money by supplying your employees with products that optimize their proficiency by allowing them to do more with less.
- Are the assets you use increasing labor costs?
Some companies purchase the cheapest equipment in order to reduce costs immediately. These cheaper and lesser quality products often increase labor costs while decreasing worker productivity in the long run.
Rather than focusing your efforts on cutting product or maintenance costs to save money, instead prioritize how you can reduce labor costs by using better products. The best way to do that is by keeping a close eye on where and when your assets and budgets are being used. Continuously tracking the assets of your locations is crucial for efficiently managing your budgets, but it can be time consuming and difficult if you don’t have the right tools. That’s why NEST helps to consolidate and monitor your facility analytics, allowing you to make even smarter decisions. With a dedicated NEST Consultant and analytics from NEST Facilitate, we can help create better facility maintenance strategies and budget plans while you focus on managing your facility.
Have a List of Service Providers You can Trust
Do you have service providers you can trust when you need them? Vetting your vendors is important for protecting your business and should include not only making sure vendors provide quality services, but also that they have the appropriate certifications and insurance coverage. This can be time consuming – that’s why many businesses have turned to using the NEST Independent Service Provider (ISP) networks.
Not all ISPs are equal! The NEST ISP Network is a pre-vetted list of qualified service providers that will help safeguard your business against any legal issues that could potentially be caused by an uncertified, uninsured vendor. As a bonus, the quality relationships we’ve built with our ISPs provide us with savings, which we pass down to you.
Finding the Tools You Need
Need a state-of-the-art CMMS to monitor your expenses? Or an ISP network that gets you a greater return on investment? That’s why NEST is here. With NEST Facilitate in conjunction with our ISP Network and expert consultants, we’re able to help find budgeted areas where you could be saving and better strategize your day-to-day facility maintenance needs. For more information, contact our experts today!
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