Facilities are an integral part of the overall work experience and significantly impact employee’s satisfaction and productivity. Therefore, it is vital to have accurate and reliable data in order to understand how your space is being used and how to optimize it. However, in our experience, we have observed data practices that limit CRES teams from unlocking the full potential of their portfolios.
In fact, Gartner estimates that poor data costs organizations $9.7 USD million annually. So how does your space data quality impact facilities management and performance?
1. STRATEGIC DECISIONS
Space data quality is vital for making strong and informed decisions. If your data is poor then it’s likely your decisions will be too. Not only does accurate data lead to better decision making, it also boosts CRES teams’ confidence in their strategic and operational level activities.
Maintaining space quality data also improves productivity. Not only can CRES teams focus on completing tasks instead of validating and fixing data errors but the smooth running of facilities also enables employees to more effectively focus on their roles.
Precise data is essential for ensuring organizations reach the required level of compliance with corporate requirements, industrial regulations and political requirements.
Badly managed and incorrect data can also lead to a loss of trust within teams and departments. Poor management of costs centers can cause departments to dispute charge-back and lead to senior management questioning outputs, moving away from data driven decisions.
When data is accurate it can provide insight into opportunities that can improve facilities management performance and reduce inefficiencies. Therefore, missing or inaccurate data can result in missed space consolidation opportunities and multiple moves to get move plans right.
Inefficiencies and lost opportunities such as increased moves churn, inefficient space occupancy, and planned preventative maintenance out-of-sync with requirements all contribute to a loss of revenue.
Find out how a CAFM system could assist your space planning needs.