Facility management is a critical aspect of ensuring that buildings are safe, comfortable, and efficient places to work and live. With technology advancing at a rapid pace, the industry is constantly evolving, and 2023 will bring a number of new trends to the forefront.
In this blog, we'll explore six of the most significant facility management trends and challenges in 2023, and how Singu FM software responds to these trends. It's time to get ready for the future of facility management!
What Are the New Trends in Facilities Management – Key Takeaways
Top facilities management trends include:
• ESG reporting software for real estate will be an indispensable tool for creating comprehensive reports on sustainable practices and performance, in order to demonstrate a commitment to ESG goals.
• The FM industry will leverage IoT technology, connected devices, and cloud-based data will continue to be leveraged by facility management to monitor and improve building operations, including remote meter readings, ESG reporting, and advanced data analysis.
• Facility managers will adopt preventive and predictive maintenance strategies to improve building performance and reduce unexpected repair costs.
• Tenant experience apps and IoT data-driven insights will be used to monitor and streamline tenant well-being and enhance their health and safety.
• A real-time energy efficiency monitoring system, reducing over-maintenance, and asset tracking will become one of the main cost-reduction strategies.
• Mobile-first building operations will become the standard, with a centralized app, a paperless approach, and easier communication with tenants.
What Is the Outlook for Facilities Management in 2023?
Trend 1: ESG Reporting and Sustainability
Environmental, social, and governance reporting is becoming increasingly important for real estate owners and managers. As the world becomes more conscious of its impact on the environment and society, more and more investors are looking for ways to measure the performance of the companies they invest in.
The first facilities management trend that we need to highlight is ESG reporting software dedicated to real estate. It will be an indispensable tool for creating comprehensive reports on sustainable practices and performance, in order to demonstrate a commitment to ESG goals. This will allow building owners and managers to understand the impact their buildings have on the environment, and identify areas where they can improve their sustainability.
The software will streamline organizations to calculate, track and report on their carbon footprint, energy consumption and other sustainability metrics, helping them to identify areas for improvement and meet regulatory requirements.
Trend 2: Harnessing IoT Technology, Connected Devices, and Collecting Cloud-based Data
The FM industry will continue to leverage the power of the Internet of Things (IoT), connected devices, and cloud-based data to monitor and improve building operations. This will include remote meter readings, ESG reporting, and data analysis with the help of widgets.
IoT devices will be more often installed in real estate to monitor, for example, temperature, humidity, air quality, or energy consumption. The number of IoT devices connected to the internet is expected to reach 27 billion by 2025 according to IoT Analytics' report.
We have already explained what are the main benefits and use cases of IoT sensors in real estate. Just to remind, this data is collected in real-time and analyzed to identify patterns and trends that can be used to improve building operations and increase employees satisfaction.
This technology will allow facility managers to quickly identify and address issues, improving the overall performance and efficiency of the building. And saving facility managers from having to climb up and down ladders to get a bird's-eye view of the building's operations!
Trend 3: Moving Towards Preventive and Predictive Maintenance
Facilities managers will increasingly adopt preventive and predictive maintenance strategies, thanks to equipment monitoring tools and data analytics. These tools will help track asset performance and predict potential equipment failures, enabling managers to proactively address issues before they occur.
By identifying potential problems before they occur, FM teams can schedule maintenance and repairs during times when the building is not in use, minimizing disruption to tenants. This will help to improve the overall performance of the building and reduce costs associated with unexpected repairs.
Additionally, these strategies will ensure that the building is in optimal condition with respect to security and safety aspects. Let’s face it, nobody likes surprises - especially when they cost money.
Trend 4: Focus on Employee Health and Wellness
IoT-driven insights will enable property and facility managers to monitor and improve the wellbeing of office tenants by providing a holistic workplace experience. As companies move back to the office, tenant experience solutions such as Singu Tenant App will be more commonly used to manage parking and conference bookings, share events, and improve tenant satisfaction and their productivity.
For example, building managers can use the data collected from such apps to monitor in real-time the performance of different services and amenities in the office space, such as the cafeteria, gym, parking lot, and conference rooms.
While the trend of remote work may continue, it is crucial to ensure that tenants feel comfortable and safe in their office spaces. By utilizing IoT-driven insights and tenant experience solutions, property and facility managers can monitor and improve the overall wellbeing of their tenants. This will help to create a positive and productive environment for all, even in the face of a hybrid working model.
Trend 5: Focus on Energy Savings as a Cost-Reduction Measure
In 2023 facilities managers and FM teams will focus more than ever before on energy savings as a cost-reduction strategy. It can be achieved thanks to modern technology and real-time energy efficiency monitoring systems, asset tracking, and reducing over-maintenance.
The average energy consumption of a commercial building in the United States is 22.5 kilowatt-hours per square foot. By monitoring energy consumption supported by FM software, facility managers can identify areas where they can make changes to decrease energy usage. This may include upgrading lighting systems, improving HVAC systems, and making other changes to improve the energy efficiency of the building. By reducing energy consumption, facility managers can save money on energy costs, and reduce the overall environmental impact of the building.
Trend 6: Mobile-first Building Operations
Key trends in facility management in 2023 will include a shift towards mobile-first building operations, which will become more common. This approach will become more common, with centralized control and a paperless approach being adopted by FM managers for increased efficiency. It is also one of the facilities management best practices. With the increased use of mobile devices, facility managers will be able to access and manage all aspects of building operations from their mobile devices. This will include monitoring energy consumption, scheduling maintenance, and tracking asset performance.
A paperless approach will also be adopted, with digital documentation replacing traditional paper-based systems. This will improve efficiency and reduce the risk of errors. By centralizing control, facility managers will have a complete overview of all maintenance and building operations, making it easier to identify areas that need improvement and take action quickly.
Additionally, the use of software for building operations and facilities management will also enable managers to communicate with occupiers, providing them with real-time information and updates.
Trends in Facilities Management in 2023 – Summary
To sum up, 2023 will bring a number of new trends in facility management. From ESG reporting and sustainability to harnessing IoT technology and connected devices, facility managers will have access to a variety of new tools and technologies that will help them better monitor and improve building operations.
If you wish to learn more about how to stay ahead of the curve in facility management, check out Singu FM, a modern and easy-to-use facilities management software that responds to these facility management trends and challenges. With Singu, you can easily track and manage your building's performance and vast operations, from energy efficiency to tenant satisfaction, all from one centralized platform.
Try it out today with a free demo.