When it comes to the current scenario in facilities management, unstructured data and data silos are still at the core of poor transparency across portfolios, decentralised operational control, and lack of accountability over operational efficiency.
Smart technology can integrate the piecemeal silos of present-day building management, to create a unified facilities experience for users.
The size of the market of UAE’s facilities management (FM) industry was predicted to hit an all-time high of $12.49bn in 2017, according to FM Expo’s research partner TechSci Research. A key driver is an estimated rise in value of $629bn worth of UAE-based construction contracts. Expected to be completed by 2021, these projects will call the FM industry into widespread action and push its value beyond $17bn.
Given the market maturity in terms of growth figures, and the evolution of both technology and facilities in the last two decades to bring us to the connected era, the manner in which facilities are managed doesn’t reflect much change. Unstructured data and data silos are still at the core of poor transparency across portfolios, decentralised operational control and lack of accountability over operational efficiency.
Consider this — 70% of the millennial workforce want to be in a smart office in the next five years. Yet a whopping 72% of CREs say their departments are not fully equipped to deliver positive portfolio performance. Even in our highly connected world, overall connectivity penetration rates across all building systems is currently only 16%.
The scenario is ripe for niche players to come in at the leading edge of technology and create valuable efficiencies in this sector.
The new era of disruptive facilities management
Facilio is a tech company that’s redefining the FM experience with IoT powered applications for a unified building performance. This is a game changer for a previously unexplored opportunity in the FM space. Facilio’s technology unites maintenance silos, assets, space, and sustainability data, generating real-time, actionable insights, and creating an efficient, collaborative and delightful built environment.
By providing a 360o hub, starting from work order management, preventive and predictive maintenance, asset and space management, fire safety, LEED assessment, water management, deep HVAC monitoring and energy analytics, Facilio’s suite of software is set to disrupt the way FM has functioned thus far.
IoT and machine learning come together to preserve and optimise large FM investments
While the traditional approach prioritised manpower and assigned people to manually perform tasks, a people-centric software alters this scenario for enriched decision-making abilities. The evolving role of FM circumvents the ‘fixer’ approach and firmly positions itself as a facilitator to work for the occupant’s productivity.