In 2024, facilities management is evolving rapidly, driven by technological advancements and a heightened focus on sustainability and efficiency. Here are the five latest trends shaping the facilities management industry right now:
1. The Role of ESG and Sustainability
What It Is:
ESG (Environmental, Social, and Governance) criteria are standards or principles for a company’s operations. All modern businesses have had to change the way they work to ensure they are meeting sustainability goals and improving their ESG score. Sustainability in facility management involves practices that reduce environmental impact, such as energy-efficient lighting, water conservation, waste management, and the use of renewable energy sources.
Why It’s Important:
Organisations are increasingly recognising the importance of reducing their carbon footprint and implementing sustainable practices. This shift towards sustainability is driven by regulatory pressures, stakeholder expectations, and the long-term cost savings associated with sustainable operations.
Not only should facilities managers (FMs) implement sustainable practices from an ethical standpoint, but also to stay ahead of the curve.
60% of investors in the UK are keen to see more businesses be transparent about their environmental impact. That’s why ESG-conscious facility management companies are much more likely to draw in investors due to the decreased risk and enhanced financial viability, especially concerning asset value.
2. The Role of Artificial Intelligence
What It Is:
Artificial Intelligence (AI) involves the use of computer systems to perform tasks that typically require human intelligence. In facilities management, AI and machine learning (ML), are used to automate tasks, analyse data, and provide predictive insights.
Why It’s Important:
AI and ML enhance efficiency by automating repetitive tasks, such as approving work orders and vendor quotes, and setting up predictive maintenance schedules. These technologies can process vast amounts of data to recognise patterns and trends, enabling proactive decision-making and resource allocation.
This leads to significant time and cost savings and allows facilities management teams to focus on higher-priority tasks.
Predictive maintenance tends to use these AI techniques including the Internet of Things and machine learning. As technologies continue to evolve, we expect to an increased use of Artificial Intelligence in facilities management.
3. Ensuring Building Security and Safety
What It Is:
Building security and safety encompass measures to protect occupants and assets from threats such as unauthorised access, cyberattacks, and environmental hazards. Security compliance involves handling confidential information (e.g., GDPR, ISO 27001). Facilities managers can mitigate security risks by implementing robust data security measures, ensuring compliance with relevant regulations, and using secure document management systems for contracts and other sensitive information.
Why It’s Important:
Part of a facilities manager’s job is to ensure the safety and wellbeing of building tenants and occupants. To achieve this, building security is crucial; FMs need to know what is going on in their buildings at any given time, as well as being sure that their suppliers and contractors are qualified and compliant.
Elogs CAFM is the perfect solution for ensuring building security, as it gives facilities managers total visibility of their buildings and assets.
Since our CAFM is integrated with Prosure360, a supplier management system, FMs can vet which service providers they work with.
4. Accurate Data and Reporting Analytics
What It Is:
Accurate data and reporting analytics involve the collection, analysis, and presentation of data to inform decision-making. It is an essential part of facility management, revolutionising how organisations manage their properties, assets, and operations.
Why It’s Important:
Accurate data and analytics enable facilities management teams to make informed decisions quickly. By leveraging tools like Computer Aided Facilities Management (CAFM) software, facilities managers can gain insights into operational performance, identify inefficiencies, and optimise resource allocation. This leads to improved productivity and the ability to address issues before they escalate.
Data analytics is also key to maintaining a safe and healthy environment for building occupants. By analysing incident reports, near-misses, and safety inspection data, FMs can identify potential hazards and implement preventive measures.
5. Preventative and Predictive Maintenance
What It Is:
Preventative maintenance involves regular, scheduled maintenance to prevent equipment failures, while predictive maintenance uses data and analytics to predict when maintenance should be performed.
Predictive maintenance aims to monitor the condition of a piece of equipment or asset. Based on this data, property managers should be able to determine when to schedule maintenance tasks in the hopes of avoiding sudden failures. There are many different techniques that can be used for predictive maintenance including the Internet of Things (IoT), machine learning (ML), and more.
Why It’s Important:
Predictive maintenance is revolutionising facilities management by reducing downtime and minimising repair costs. AI algorithms and IoT sensors can identify potential issues before they occur, allowing for timely interventions. This approach not only extends the lifespan of equipment but also enhances overall operational efficiency. This is also great in relation to your ESG goals as you can ensure your buildings and equipment are functioning smoothly and conserving energy in the process.
Ultimately, this proactive approach to maintenance has been known to boost energy efficiency, cut costs and improve health, safety, and compliance.
How CAFM Software Can Support These Trends
CAFM software can significantly support the integration and execution of these trends:
ESG and Sustainability
CAFM systems can help FM businesses reduce their carbon footprint, monitor energy usage, and track other sustainability metrics, helping organisations meet their environmental goals. Elogs CAFM+ Service Desk allows businesses to efficiently monitor, manage, and optimise their operations from an ESG perspective. By implementing energy-efficient maintenance strategies, facilities managers can reduce energy waste and cut costs.
Artificial Intelligence
AI and ML are likely to become part of CAFM systems in the future and could potentially help to automate routine tasks, analyse data for predictive maintenance, and optimise resource allocation. However, this is a trend that may not emerge for a few more years, but when it does, it could be transformative.
Building Security and Safety
CAFM software provides full visibility and real-time data of buildings and assets which means FMs can make data-driven decisions, in addition to improving asset performance.
Accurate Data and Reporting Analytics
CAFM platforms provide robust analytics and reporting tools, enabling facilities managers to make data-driven decisions and improve operational efficiency. Elogs CAFM facilitates secure data sharing, enabling facilities managers to collaborate effectively with internal and external stakeholders.
Our CAFM system also consolidates all property data into one centralised database, ensuring that information is readily accessible, accurate, and consistently updated.
Preventative and Predictive Maintenance
CAFM software can schedule and track maintenance activities, predict equipment failures, and ensure timely interventions, reducing downtime and maintenance costs. Elogs CAFM includes a PPM planner which allows you to streamline tasks and easily manage your scheduled maintenance tasks. By using a CAFM system to carry out preventive maintenance activities, FMs can save money, drive efficiency, and increase productivity levels.
By leveraging CAFM software, facilities management teams can streamline operations, enhance efficiency, and stay ahead of industry trends, ultimately creating smarter, more sustainable, and secure facilities.
Want to stay ahead of the curve? Keep up with the latest FM trends with Elogs CAFM+ Service Desk!
