Posted on 11/24/2014
By Lora Mays, Product Marketing Manager
Knowing your current and future space requirements can help establish realistic projections for long term capital planning. However, without an integrated system, it can be difficult – if not impossible – to link the two together.
For instance, a company experiencing rapid growth would require an advanced space and occupancy management solution. In addition to helping allocate staff to office space, it can provide forecasting information to ensure that the company has a clear understanding of how its space requirements will change over time.
An IWMS solution can communicate the data to the facilities team, which can budget for expenses related to future cubicle build-outs to meet the growing needs of the staff. In doing so, the organization can create an accurate forecast of future space needs while increasing visibility in its capital planning system.
As a result, the financial team will have insight into what types of projects are coming down the pike and how they can accommodate the changing needs through budgetary allocations for future capital projects. This will better prepare the organization to handle future financial commitments and maximize its real estate and facilities operations.
Understanding forecasted capital planning to drive projects is just one value that your organization can gain from an IWMS solution. Read previous blog posts to learn about the first four values in the series. You can also download the whitepaper The Strategic Value of IWMS to learn how your organization can drive profitability from your real estate and facilities portfolio.