What is IWMS Software? A Complete Guide to Integrated Workplace Management

Benefits of an IWMS System

Increased Efficiency

An IWMS powered by powerful space management software can help you gain insight into your space utilization, occupancy, time spent in rooms and other key metrics. Use this information to identify inefficiencies, improve processes, organize budgets and increase the effectiveness of your rooms and spaces.

Lower Costs

An IWMS can lead to proven cost savings, including:

• 10-15% cost savings from better space management
• 5-8% cost savings from process improvements
• 5-8% cost savings from streamlined lease administration
• 10-20% savings due to increased data transparency

Streamlined Compliance

By centralizing processes, documentation and reporting, an IWMS system can simplify compliance with standards and regulations, including IFRS and FASB lease accounting standards.

Data-Driven Decision Making

Big decisions must be backed by data. Thanks to comprehensive reporting, dashboards, KPI tracking and more, the right IWMS can help businesses access important information and make informed, accurate business decisions.

Increased Transparency

An IWMS can increase transparency into things like:

• Portfolio size and value
• Space occupancy and usage
• Lease contracts
• Planned maintenance activity

This can help you maintain control over your operations, decease inefficiencies, identify areas of growth and more.

Improved Space Utilization

Use real-time data in your IWMS software to:

• Understand your utilization
• Identify opportunities
• Decrease your real estate footprint
• Increase the flexibility of your workspaces
• Maximize employee efficiency.

Support for Flexible Workplace Strategies

Today, workplace flexibility is non–negotiable for many employees – especially Millennials and Gen Z. IWMS software can help you improve your flexible workplace strategies so you can attract and retain top talent.

Integrated workplace management systems work by combining mission-critical data from various systems into one centralized software to allow for more informed decision-making. This generally includes five key components:

• Space and workplace management: Space management capabilities help users simplify their space planning by providing one tool from which users can visualize and manage their workspace. When deployed correctly, the right tool can helpstudents, employees and administrators navigate spaces, improve space utilization, manage room reservations and more.
• Real estate management and lease accounting: Real estate management and lease accounting tools can help users manage their real estate portfolio, lower real estate costs and maintain compliance with changing IASB and FASB lease accounting standards.
• Maintenance management: With a robust computerized maintenance management software (CMMS), users can manage work orders, extend the life of assets, maximize uptime, prioritize preventive maintenance and stay on top of plant safety.
• Capital project management: Capital project management software (CPMS) centralizes key data –including building blueprints, costs, schedules and more --that helps users stay on top of real estate costs and plan for future real estate needs or capital investments.
• Project management: With powerful construction project management tools, you can scale operations, shorten timelines, and meet your budget goals.
• Sustainability and energy management: Today, good environmental, social and governance (ESG) is more important than ever. The right tool can help users improve their energy management by helping track consumption and ultimately reduce their carbon footprint.
  
  

What kind of cost savings can you realize from an IWMS system?

Using an IWMS, you can realize cost savings in many forms, including:

• Occupancy cost savings: By helping you understand your utilization and identify inefficiencies, an IWMS can help you reduce wasted space in your real estate portfolio
• Space management savings: An IWMS centralizes reporting and automates previously manual functions, helping reduce overall space management costs
• Energy savings: By providing visibility into energy usage – and how it can be improved – an IWMSW can help lower utility bills and energy costs.
• IT savings: By consolidating and modernizing you disparate legacy systems, you can reduce both hardware costs and IT costs.
• Real estate savings: Save real estate and lease administration costs with automated, centralized systems
  
  

What do you need to know before starting an IWMS project?

Before starting an IWMS project, you need to be sure that you’re choosing a software solution that has the features and functionalities to meet your needs. To get this right, you should start by asking some key questions of your organization, like:

• Do you want to work on your real estate portfolio and real estate costs? If so, lease management software will be a must.
• Do you want to improve your employees' and students' interactions and meeting booking? Then a space planning tool will help significantly.
• Are you concerned about compliance and audits? A CMMS could be beneficial.