Facilities management (FM) software, like any other software, is an invaluable tool for facilities management businesses.
Such tools allow them to efficiently manage their facilities and assets. From tracking maintenance costs to scheduling staff shifts, facilities management software can make a significant difference in the way that facilities are managed.
However, there are many different types of facilities management software. Because the market is crowded, it can be difficult to know which one will be the best fit for your business. In this article, we'll explore the different types of facilities management software available. We'll review the factors that affect their cost and common features associated with them.
Most importantly, we'll review how much they cost. This information should provide you with all of the details you need to make an informed decision about investing in a facilities management software solution that's right for you.
Understanding the different types of facilities management software
Regarding facilities management, the right software solution can make all the difference. Which might sound strange because "managing facilities" doesn't sound like software should have much impact.
But like any other global industry, software is at the foundation. And because the global facilities management market size is around 1.26 billion, software is a must.
Choosing the right type of facilities management software for your needs is essential and there are two main options available. Cloud-based solutions and server-based solutions are the primary ones. Let's quickly review each.
Cloud
Cloud-based solutions are popular due to their low cost and ease of use. A third party provider usually hosts these systems. This helps smaller businesses so they don't have to worry about managing their own servers or hardware. Cloud-based solutions also provide businesses with access from any location with an internet connection. This flexibility makes them ideal for remote teams or organizations with multiple sites.
However, these systems do require an internet connection at all times. They also may not be suitable for companies dealing with sensitive data. They could lack some levels of security compared to other forms of facilities management software.
Server-based
Server-based solutions offer more control over data storage and security than cloud-based solutions. However, they require more resources regarding hardware, maintenance, and IT staff. Server-based systems also tend to be more expensive than cloud-based ones as they require additional licensing fees and installation costs.
The advantage is that these systems allow businesses to store their own data on their own servers. This level of control can be beneficial regarding privacy protection and security compliance requirements depending on the industry they operate in.
Now that we've done an overview of the two main types, let's look at factors that affect the costs of facilities management software.
Factors affecting the cost of facilities management software
When researching facilities management software, organizations should be aware of the various elements that can affect the cost. It's important to consider all the factors before deciding on which to buy.
Licensing models are the first factors to jump out at you. The licensing model you choose should depend on your business needs. One-time licenses may be best if you only need short term access. On the other hand, subscription models can help spread out costs over longer terms when budgeting is a factor.
Secondly, user requirements should always be considered when choosing facility management software. Think about:
- What workflow processes need automating
- What information workers need easy access to
- How much training users will need before implementing the new system
The last point on training is huge. Does your team do well when you're about to implement a change? Do they struggle to keep up with the latest tools designed to help them with their work? While seats for users is a cost you can measure, time and energy spent on training is harder to determine.
The size and complexity of the facilities can also influence price tags regarding facility management software. High levels of customization or integration with other systems may be necessary for larger or more intricate operations. These will add to the costs. Smaller businesses may just need basic features but still need reliability and security if they're managing sensitive data or complex operations.
Now that we've touched on some basic factors that affect costs, let's dig in to some of the most common features of facilities management software. We'll try to highlight the costs for those features, if applicable.
Common features of facilities management software
Facilities management software is an invaluable tool for managing properties and assets. Let's quickly review some of their most critical features.
Maintenance management
Preventative maintenance is critical to keeping your facilities up and running. The good news is that you don't have to plan using spreadsheets anymore.
Any facilities management software you use should come with features that allow you to plan for maintenance work. Such a feature should allow for scheduling personnel, tracking completed and open tasks, and reviewing budgets.
Advanced features might allow you to dig into an employee's schedule deeper. Another option would be to see single budget lines, to show how much a given task for a project currently costs.
Knowing where maintenance schedules are in your workflow is vital to keeping a well-oiled facilities management operation running.
Inventory management
Whether keeping your own inventory, or keeping stock for clients and their facilities, you need to know what you have on hand.
Your facilities management software needs to show open orders for supplies, available stock levels, and up to date prices. Such information can allow service reps to provide the most accurate information to potential clients or existing customers.
More advanced features could look like detailed information on an order status, like if a recent order has shipped. The ability to scan items in and out of inventory would also make serving your customers easier. Sure, there is added technology, but there Is also the benefit of updating to provide better service.
Work order management
You can categorize work orders with the maintenance section listed above. But when we think of work orders, we want to go a bit deeper to show the potential they have on their own.
You can use work orders to track building maintenance.
But what about a use case like giving a quote? If work orders are already a part of the system, couldn't you use them for a different purpose? Maybe work orders can serve to put in requests for new features or services for your business. And if they exist as standard in most facilities management software, use them to benefit your business.
Examples of facilities management softwares and their prices
A good facilities management software will provide an organization with the tools they need to effectively manage their facilities.
After looking at the different types of software, the factors that affect costs, and the most common features of the software, let's dig in to the numbers. We'll review some of the most popular facilities management software tools, with basic pricing. For more detailed pricing, check out their websites.
Maximo
Ranked as #1 among all facilities management software by SelectHub, Maximo has everything. The IBM product will help you manage facilities, vehicles, equipment, and machinery.
Maximo applications can function as SaaS, be client-managed, or managed by IBM. Their credit-based AppPoints system simplifies licensing and usage. Common features include:
- Identify and manage asset reliability risks with AI
- Apply a data background using IoT data, asset records, and work history to improve decisions
- Improve the effectiveness of planners, schedulers, and supervisors.
The cost for Maximo as a Saas is slightly less than $10,000/mo, and this is for a small team of 5 users. Being an IBM product, Maximo seems geared more for the enterprise customer. If that's you, this could be an excellent solution.
Corrigo
Called an intelligence-driven integrated facilities management system, Corrigo ranks #2 on SelectHub's list. Corrigo is a product of Jones Lang LaSalle, a leading facilities management services provider.
The most popular features include:
- Work order management and task automation
- API and partner Integration for seamless data exchange
- Mobile apps that allow for on-the-go productivity
Corrigo doesn't make it easy to establish pricing for your situation. You'll likely need to contact sales to work through an accurate quote. However, after talking to sales, you'll surely come away with a great idea on what the Corrigo facilities management software will cost. You'll also know if it's the right fit for your business.
Accruent
Accruent comes in at #3 on SelectHub's list of best facilities management software. Accruent highlights their Maintenance Connection product as the best way to manage your facilities.
There are two primary ways to access Maintenance Connection. One is with a cloud hosting solution and the other is to self-host. The pricing for each is different, but let's highlight some features first.
Accruent features include:
- Automatic and trigger-based alerts to notify your team of updates
- Automate locating and purchasing of parts
- Easily prioritize, track, and document work orders
Regarding pricing, both cloud and on premise options offer monthly and annual pricing options. The cloud deployment offers no up-front software costs and monthly software upgrades, automatically. Monthly pricing starts at $110/user for standard desktop features. A native offline app is available for an additional $58/user.
The on-premise product is a self-hosted option with a perpetual licensing option and self-service upgrades. Standard features cost $216/month per user. The mobile app features can be added to your subscription for another $86/month per user.
In this article, we've only scratched the surface with facilities management software and their costs. If you're an operator in facilities management, you might already be aware of this information.
Our hope is to highlight some of the most popular facilities management software options for beginners. For additional options (because the list is extensive), see the SelectHub website we've linked to. Let us know how we can help you find the right facilities management software for you.
Topics: Facilities Management