Ways in which you are wasting money in your facilities
Updated: Mar 25, 2019
If you are like most facility managers, there is a good chance you could be throwing money down the drain due to inefficient and ineffective processes. Read on to learn about the most common issues experienced and find out if you could be saving money for your business!
1. Multiple vendors - With multiple vendors you are missing out on volume buying power, and are spending unnecessary time and money managing far too many individuals.
2. Multiple platforms - No consolidated data means you are making guesses instead of knowledge-based decisions. It's also likely that you are having to manually re-enter data which takes time and money, and is prone to errors.
3. Non-integrated technology platforms - Having to switch between platforms to place service requests, check work status, and gather reports is extremely inefficient.
4. Poor/ non-existent reporting - With your data being so spread out, you are unable to get a powerful overview of your entire portfolio. You are missing trends that could be saving you thousands of dollars in the long run.
5. No scheduled maintenance plans in place - You aren't paying currently, but by not maintaining your units your repair bills will likely be higher, units won't last as long, and they won't run efficiently. Pay now, or pay later: The choice is yours.
6. Working in rather than on the business - If you are down in the weeds putting out fires, you are unable to see the big picture and make powerful strategic decisions.
7. Jumping over dollars to save dimes - Are you guilty of selecting the lowest cost provider? Do you find yourself hiring a vendor at $45 per hour who ends up taking three hours, rather than one who gets it done in just one at $80 per hour? You get what you pay for, and unfortunately, if you pay peanuts, you will typically receive monkeys.
8. Lost business - Dangerous and uncomfortable stores are not appealing to your customers who will take their business down the street to your competitor.
9. Store associate turnover - Similar to #9. The added factor here is that the store associates won't be able to meet their goals as they don't get the foot traffic they need. They go elsewhere to earn the commission that they rely on.
10. Reduced lifetime of HVAC assets - Shortcuts might sound like a good move, but you are just increasing the repair and replacement money that will be needed further down the road.
11. Not tracking or enforcing warranties - Unnecessary payments being made for work that is covered.
12. Not managing vendors - You might not have the time or desire to manage your vendors, but this means inefficiencies will develop, and with them comes wasted time and money.
13. Not knowing what is going on - Are you aware of all the work that is currently going on within your network of properties? Do you know how much of your annual budget you have spent so far this year? You can't manage what you don't measure.
14. After hours calls - Are they causing you to miss time with your friends and family? Who is managing the after-hours calls and validating them?
15. Multiple trips - Does your service provider immediately dispatch a vendor, or do they first validate the request, troubleshoot and avoid dispatch if possible?
If you can relate to any of these, please know that you are not alone. The modern day facility manager is tasked with an unbelievable number of responsibilities. There is no physical way that someone could successfully eliminate these challenges by themselves. We understand the frustration, fatigue, and anxiety that comes with facility management.
You deserve a system that allows you to focus on your core business, and manage your facilities from 40,000 feet. Your customers and employees deserve a premium in-store experience. We have a solution. Stop wasting your time and money, and take back your evenings and weekends. Your friends and family miss you.
We solve facility challenges just like the ones that you are experiencing. Schedule a free consultation today, and allow us to evaluate your current operations, suggest ways that you can save time and money, and provide you with the partner you need to help with your mammoth workload.