Customer reporting for FM suppliers
Technology trends in FM
The FM landscape is changing. We are seeing an increase in disruptive technology and the importance of embracing change to meet customer needs and gain a competitive advantage, as well as increasing pressures to reduce spend.
The role of technology and data is also gathering pace too and is allowing FM suppliers, for the first time, to provide insightful intelligence for their customers – a need which is also being driven by customers too.
This particular point was discussed in more detail at the recent FM conference organised by RICS.
I also came across this Ebook recently which talks about the 13 biggest facilities management trends, which I urge you to read. Data and reporting is a common thread and a good point made is that being smart about data isn’t simply having a lot of data. Data only becomes smart data when you have the analytic tools to translate data into actionable insight – a point we will discuss further.
Strategic KPIs: how to turn data into intelligence
Dr Rachel Dick FRICS, Senior FM Consultant with Mace Macro discusses how to turn data into intelligence and describes the different data needs at operational, tactical and strategic levels. A point well-made by Rachel is that most organisations don’t have a single point of capture and data typically sits on different systems. IT and information system strategies making reporting at a strategic level difficult. The importance of having the capability to consume data from different systems and present information in an easily consumable format is key to future decision making.
Reporting needs of FM suppliers
Reporting is the tangible output of facilities management information and data. The most common output of facilities management information is in the form of ‘performance reporting’. It includes reporting on the information related to four aspects of businesses:
- statutory reporting (statutory or legislative requirements), such as health and safety, incidents, security, hazardous waste, etc
- contractual reporting, performance achievements against the agreed client service levels
- in-business reporting, where in-house facilities managers report on agreed business performance targets or other achievements to business executives
- regular or on-demand reporting, where reports are generated to provide information for business-as-usual activities. These might include monthly or quarterly reports on budgets, actual and forecasts. Or a report including building specific utilisation at any time on request.
Preparation of these reports can be time consuming and take significant amounts of time and resources away from operational, managerial or administrative activities important for the efficiency of facilities business. In particular, contractual reporting can take several days of work on defining performance standards, reporting mechanisms and associated calculations, governance, and links to performance-related fees and payment.
Having a best in breed innovative customer reporting application in place to allow you to meet these reporting needs in an automated way and present data from your operational systems to your customers in an intuitive format, is a key aspiration for many FM suppliers. I will discuss this point in more detail and explore how we can help you meet this goal and gain a recognisable competitive advantage.
Before we do, let’s explore how you are currently reporting to your customers?
As a measure of your innovation credentials – how much have your customer review meetings changed in the past 10 years? Are you reporting with Excel / PowerPoint charts extracted from your CAFM systems to report against your KPIs? Did you spend hours and possibly days collating the data first?
Whilst this has provided the basis for performance monitoring in the past, it has only ever allowed you to provide a rear mirror view, rather than allowing you and your customer to have sight of real-time performance. With powerful BI solutions you could be looking out the front windscreen and predicting what actions need to be undertaken in the next service review period.
Alternatively, are you providing client licenses to your CAFM system, which is costly and eating into your bottom line. Also is your CAFM system able to provide the level of reporting required by you and your customers.
So why change I hear you say. Here are some key reasons:
- Enables you to paint a richer picture of what’s happening across a customer’s estate, so you can improve the customer/supplier conversation and identify opportunities for additional services/value
- Meets a business need to become more data driven and have the capability to utilise data more effectively in a joined up way to present to customers
- Demonstrates innovation and a competitive advantage by providing a customer reporting application that delivers intelligent actionable insight
- Helps you become a more trusted supplier and advisor by providing visibility and transparency of supplier performance data
- Removes ambiguous data by combining and aggregating data to gain a single version of the truth.
The Solution – Innovative FM Customer Reporting Software
CDS’ reporting solution Asset Factory provides innovative customer reporting software that allows you to consume and aggregate data from your operational systems to meet both:
- Internal reporting requirements to drive efficiency gains and provide intelligent actionable insight to help deliver an improved service to your customers and identify opportunities to expand your service outside of your core competence
- Client reporting requirements to provide greater visibility, transparency and real-time reporting of facilities data to provide a much clearer picture of what’s happening across a property estate and improve the customer/supplier reporting.
The application is available either as full SaaS solution or can be deployed within your environment as a white labelled application. This allows you to benefit from:
- Low cost of entry
- A mature and proven product adopted in the market
- Cloud based solution, eliminating on premise hardware
- Access to ongoing support and product enhancements.
Using Asset Factory will allow you to present intelligent actionable insight to your customers to show real-time supply chain performance and estate compliance. This creates real time reporting to ensure performance levels are maintained and risks are mitigated.
- Optimised effort in reporting from trusted source systems
- Helps you tune your performance and understand problem areas
- Access to real time data on the move so you can react faster
- SaaS model – lower fixed costs
- Differentiator when competing in the market place
- Encourages more innovation and puts you in the best position for the impending data explosion.
For a demonstration of Asset Factory and to discuss how the application can deliver improved customer reporting, please contact the Asset Factory team.