Reduce Costs With These Best Practices in Facility Management

Regularly assessing your facility management practices to ensure you’re running at peak efficiency is vital to operations. A playbook of the best practices in facility management can help you stay on track and meet your goals.

Facility management is a significant expense for all businesses, which is why it’s critical to find facility management strategies to reduce operating costs without compromising the quality of your business workflows and deliverables.

But what are the best facilities management strategies to reduce operating costs?

In this blog, we will discuss best practices in facility management to optimize workplace performance, reduce costs, and identify strategies that can have a positive impact on your overall bottom line. We’ll also explain how partnering with an energy efficiency as a service (EEaaS) company can help you implement ongoing energy monitoring and yield significant dividends in the long run.

Facilities Management Strategies to Reduce Operating Costs 

Here’s where to begin: 

1. Conduct a Facility Audit

One of the first steps you can take in reducing the costs of your facility management is to get in-depth insights with facility audits. 

A facility audit can help you identify inefficiencies in your operations and determine areas where you can reduce the costs of facilities management. Energy audits, on the other hand, spotlight opportunities to eliminate energy waste and put you on track to meet your business’s sustainability goals. 

2. Utilize Renewable Energy

When it comes to best practices in facility management, one of the best facility management tips you can consider is using renewable energy resources to your advantage. Saving money on government tax incentives and tax breaks is just the tip of the iceberg. 

Some renewable energy methods you can employ within your commercial business include:

• Solar panels
• Implementing environment sensors
• Practicing light and heat harvesting 

3. Implement Energy-Efficient Practices

Implementing energy-efficient practices is another effective way to reduce facility management costs. 

Switching to energy-efficient HVAC systems and LED bulbs and installing motion sensors can save you significant amounts of money in the long run. With the help of IoT monitoring, you can establish an energy usage baseline which will help you assess the performance of measures you’ve taken.

4. Use Data to Drive Decision-Making

Using data to drive decision-making is another effective method of facilities management to reduce energy costs. 

By tracking key performance indicators like energy consumption, maintenance costs, and equipment uptime, you can identify areas where you can make improvements in cutting costs.

When you work with Budderfly, for example, your customer portal offers a centralized view of your energy usage—across all locations. You also receive real-time alerts for easy issue management, and can easily access your billing information. 

5. Be Conscious of Your Facility Management Billing

A key facility management billing tip is to review all of your facility management invoices and work orders carefully. 

Ensure that you are being charged correctly for the services you receive. Instruct your team members to be on the lookout for errors, such as overbilling or duplicate charges, and dispute any discrepancies immediately.

Some key facility management billing tips are: 

• Review your invoices thoroughly
• Consolidate invoices
• Negotiate payment terms
• Use technology to streamline billing processes 

6. Proactive Maintenance Planning

If you schedule regular asset management maintenance in accordance with your understanding of your energy assets, you can reduce the risk of failures and breakdowns and the costs associated with your maintenance activities. 

6. Educate Your Team Members on Energy Efficiency

Educating your team members on energy efficiency is not only a key part of reducing costs within your organization, but it’s also a part of your corporate social responsibility. 

By promoting sustainable practices and reducing your carbon footprint, you can demonstrate to your stakeholders that you are committed to being a responsible and ethical business. One such way is educating your team members on energy efficiency. 

By involving them in the process and giving them the tools and knowledge to make a positive impact, you can create a culture of sustainability within your business and improve employee engagement and morale.

How to Reduce Cost in Facility Management: Main Takeaways

Finding proactive ways to reduce the cost of facilities management within your commercial organization is essential to staying competitive in today’s market.

Remember to conduct a facility maintenance management audit, implement energy-efficient practices and preventive maintenance programs, practice data to drive decision-making, and most importantly – deploy facility management software. 

With these strategies, you can improve your bottom line and achieve long-term success.

At Budderfly, we offer a critical part of the facility management picture: energy monitoring and management. With IoT sensors throughout your facility and energy-efficient equipment, it’s easier than ever to optimize your facility’s energy performance.

Learn how IoT-powered 24/7 equipment monitoring and real-time access to your energy consumption and rates improves your facility management. Get in touch with us today to learn how you can start saving.