ROI of Asset Management Software

Getting to meaningful and measurable ROI when evaluating a facilities management and asset management software solution requires elegant integration between work order and asset management & a smart modern software foundation.

Smart and integrated software tools deliver much greater savings in time and money than using spreadsheets or patching tools together to address work order, asset, provider, and building management.

Asset management means different things to different people. But for assets that are critical for the functioning of multi-location facilities, everyone agrees that tapping into tools to identify and exploit new opportunities for efficiency and savings is critical. Tools must also provide insights and decision support for real-time asset tracking activities as well as offer reporting and analytics that help companies further refine their processes for optimal outcomes.

And when evaluating those tools, there is one metric that rules them all: ROI.

The questions that individuals across all teams really want a straight answer to are as follows:

WILL THE SOFTWARE SOLUTION MAKE MY JOB EASIER AND ALLOW ME TO BE MORE EFFICIENT?

WILL THE SOFTWARE DELIVER HARD SAVINGS THAT TRANSLATE TO A POSITIVE RETURN ON INVESTMENT (ROI) DURING THE FIRST YEAR?

Elegantly Integrated Solutions Get You to Positive ROI

Asset management that is tightly and elegantly integrated with work order management and provider management, as it is in the Fexa Platform, can definitely get you to the positive ROI your teams are seeking.

In fact, in nearly every scenario where we help our customers assess their potential savings when moving from spreadsheets and emails or significantly antiquated solutions, that ROI can be as high as 325% or more. Where customers have implemented some workflow optimization, but are looking for more modern toolset and a means to integrate the next generation of asset management, they can achieve 250%+ ROI.

Integrated Facilities Management Solutions Drive Greater Savings

What Key Software Attributes Drive the ROI of Asset Management Software?

Smart Preventative Maintenance Programs

These programs allow you to set it and forget it based on best practices and appropriate intervals for proactive maintenance – optimizing the health of your assets without costly manual administration.

Smart programs that can be set to assure that timelines are adjusted when an intervening reactive repair has been initiated, eliminating unnecessary costly service visits.

Smart alerts that give the team the option of bundling preventative maintenance work with reactive maintenance when it makes sense as a scheduled visit is within a designated window of time using your business rules.

Flexibilityto uniquely tailor preventative maintenance programs for specific asset classes to further enhance efficiencies and map to asset priority and availability requirements. *Note: Avoid tools with one-size-fits all program capabilities, your team will be mired in the muck with workarounds.

Smart Automations and Integration of Work Order & Asset Data for Asset Repair Work

Automation that taps into your business logic and data to leverage the right balance of negotiated rates, geographic coverage, response/drive time, and quality/expertise that fits the job.

Incorporating specific asset-related details and history into the workflow as part of reactive maintenance work-orders can provide the facilities team with valuable decision support.

Mobile tools that give your permissioned in-house technicians or contracted service providers access to asset repair history when and where they need it most – during the diagnostics of the situation.

Software that can easily incorporate asset tagging in order to further enhance the data and insights for asset decision support by all appropriate permissioned users in the company.

Optimize and automate RFP requests based on asset class or criticality of the work – dispatch and requests can be informed by business logic and automation that triggers the best option for the specific situation based on variables that you set.

Never inadvertently have two work orders for the exact same work get initiated through inserting intelligence that taps into data and alerts teams to potential duplicate or unnecessary expensive service visits.

Speed up and significantly enhance your repair vs replace decisions by getting the decision support you need in real-time with in-platform visibility to book value and repair history

Efficient and Effective Warranty Management

Establish triggers that automate dispatch of appropriate vendors when an asset is still under warranty. This feature alone saves customers significantly by assuring that no expenses are incurred when warranties are in place.

Prioritize Continuous Improvements Through Reporting and Dashboards

Dashboards and ad-hoc reporting allow the right roles and individuals across the organization to have easy access to asset-related work at their fingertips by asset class, location, problem resolution, and more based on your business needs.

Show Me The Path to Achieving Measurable ROI of Asset Management Software

While it varies by customer based on where you are in your journey to adopt technology and leverage data, we invariably help customers find savings that give them back as much as 300%+ ROI during the first year of using Fexa.

Because Fexa is purpose-built for the work that facilities management professionals do, teams can take advantage of asset and work order management that works together to yield insights, efficiency, and better outcomes. Furthermore, Fexa is a modern platform that is built to be intuitive and easy to use – removing the barriers and costs of adopting new software.

The typical breakdown of savings across different areas of the business will look something like this (Image shows the breakdown for an actual customer business case).

Reach out to let us show you what is possible. We would love the opportunity to walk through your specific scenario and help identify the low-hanging fruit for savings, efficiency, and value for your business.