Yes, it is true that in today’s world finding a real estate solution is not a problem. The problem is picking the right one from an endless list of solutions on the market. For instance, a recent study carried out by CoreTech mentioned that in the present market there are more than 750 real estate applications. With so many alternatives, choosing an IWMS solution and why has never been more crucial to businesses. Below we will take a look at this issue in more detail
When there is a necessity to be able to precisely maintain and monitor critical corporate assets, there is a need for the integration of substantial operating systems to let you see clearly how the impact of a decision in one area affects other aspects of businesses’ operations. With IWMS, different types of integrated decisions can be made which make an enormous impact on the entire time you are managing a portfolio. Identifying which projects need to be funded and prioritized is vital for lifecycle management and planning of facilities and is a key function of IWMS platforms.
Another point is risk mitigation. In an ERP system, employees can customarily develop shadow IT systems for their regular work. Consequently, solutions are being created which lead into another risk that data is not persistently being reviewed and may not match.
Therefore, corporate executives are now curbing the technology solutions for corporate real estate and looking for better analytics around how money is used. Thus, the issue is now not about how many people were moved or how many work orders were closed but about how those decisions have an effect on the company’s bottom line. The point from real estate managers is not anti-technology but about how real estate operations have been rationalized to prop up the corporate mission and how IWMS is the integral tool.
Apart from operational advantages, cost is naturally a significant deciding factor in the high dollar environment of technology systems and there is no exception in case of the IWMS platforms. However, IWMS systems win on the very realistic basis that price must be considered against risk and value.
Particularly, point solutions seem to be less costly because if an ERP is already owned by the company then they can buy, install and implement them one at a time. Also, there is a misconception that “the solution is free as we already own the software.” However, the truth is the point solution extreme offers such a small part of the real operational requirements that considerable cost is needed to integrate and report in an efficient way.
At the end of the day, IWMS, with a higher ROI, is logically the most cost-effective solution. Ultimately, IWMS set operations out of the back office and brings them to the front of house to be very visible, which is extremely critical to corporate success. These systems also offer integrated data reporting and analytics in real-time to address real needs that helps in making prompt decision to deal with corporate survival.
Overall, Integrated Workspace Management Solutions (IWMS) offer many discrete benefits from a single platform that assist with the transformation of lease accounting standards and make you able to take better decision for your business.