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    Understanding how to determine ROI from Space Management Software

    Elizabeth Dukes

    An organization's Return on Investment (ROI) is one of the most critical pieces of information in determining the operating efficiency of a company. This "performance measure" evaluates the effectiveness of an investment or tool, as well as comparing one investment to another. The flexibility of this formula, with regard to the information used for computing and related to investments and goals, makes attention to detail crucial.

    It is critical that a strong knowledge of the details entered into this formula, as well as maintaining current records, is present at all times.

    Maintaining up to date records, with regard to how your space is utilized is essential for good business practices. Especially considering that space represents the second highest G&A cost next to HR. Your organization is dynamic and ever-changing, so this process will remain constant.

    You must maintain the ability to answer an Executive on the spot. Not two days after the fact, when asked questions like "What percentage of office space is utilized?" or "How is it used, by department?". The business case for utilizing technology is simple math. Undoubtedly, it will require more time to manually keep track of space assignment and utilization, if and when you get around to performing those tasks.

    iOffice can provide you with the appropriate technology to enable you access to the data at a moment's notice, so that you can respond to all queries about your management software with educated, thoughtful answers.

    Space Process Detail – Data Updates

    Minimum Time - (52 min) Maximum Time* (*regardless of number of updates - (0.5 min)
    Traditional Process Time iOffice Process Time
    Move completed 0 min Move completed 0 min
    Receive email update or spreadsheet of employee moves 0 min Move ticket archived and floor plans updated 0.5 min
    Update occupant data on CAD Floor plan (text update) 12 mins No task 0 min
    Update occupant data on CAD Floor plan (block method) 40 min No task 0 min

    Assumptions:

    • 10 transactions i.e. employee location move, employee cost center or department change, new or exiting employee
    • Manual update of AutoCAD drawing

     

    Space Process Detail – Drawing Updates

    Minimum Time (Per Project) Maximum Time*  (Per Project)
    Traditional Process Time iOffice Process Time
    Update space configuration in AutoCAD per project Update space configuration in AutoCAD per project
        Load new drawing to iOffice 1 min

    Assumptions:

    • Utilize AutoCAD

     

    Space Process Detail – Reporting

    Minimum Time 11 mins Maximum Time* 1 min
    Traditional Process Time iOffice Process Time
    Export AutoCAD data into Excel 5 mins No process 0 min
    Build necessary reporting queries 5 mins No process 0 min
    Run report 1 min Run report 1 min

    Assumptions:

    • Utilize AutoCAD

    Ebook - Maximize the Value of your FM Software

    Elizabeth Dukes

    ABOUT THE AUTHOR

    Elizabeth Dukes

    Elizabeth Dukes' pieces highlight the valuable role of the real estate and facility managers play in their organizations. Prior to iOFFICE, Elizabeth was in sales for large facility and office service outsourcing firm.

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