Modern facility managers can use facilities technology to reduce risk in many ways. Advanced security protocols and access points help improve cybersecurity; furthermore, automated fault detection can stop a broken pipe from causing a “complete shutdown” of your business. Also, facilities technology vendors can provide value and still drive down costs. So, take a look at some of the top ways in which today’s facilities technology can mitigate risk in your business.
1. Facilities Technology Improves Your Company’s Cybersecurity Goals
Cybersecurity is among the top priorities of today’s businesses. With recent hacks in Equifax still in the news, your organization needs to implement strict cybersecurity measures; moreover, according to Rita Tatum of FacilitiesNet, facilities managers can leverage facilities technology to reduce risk as well.
2. Robust Reporting Capabilities Reduce Financial Risk
Facilities technology can also help reduce the financial risk inherently found managing facilities after construction or during periods of new construction.
For example, facilities managers should consider a whole-view picture of how better reporting capabilities reduce financial risk through SWOT analysis. SWOT analysis considers the strengths, weaknesses, opportunities, and threats (SWOT); thus, better reporting capabilities allow facilities managers to view each risk’s SWOT elements, making data-based decisions that reduce financial risk through both long-term and short-term factors.
More specifically, team members can use facilities technology to leverage internal and external data sources to ensure on-site contractors and field service technicians comply with corporate policies, as well as ensure appropriate government licensure. As a result, your business is less likely to suffer from poorly managed contracted work.
3. Established Facilities Technology Vendors Reduce New Technology Risk
Established facilities technology vendors also have experience in what does and does not operate best. Vendors will be able to review past pain points with their systems and showcase how new systems overcome past challenges, asserts another FacilitiesNet report.
4. Automated Systems Identify Potential Hazards and Prevent Injury to Building Occupants
Facilities technology also enables automation to identify potential hazards, like subpar wiring or overheating HVAC systems, which reduces the risk of injury to building occupants. Due to the expensive value of some assets, financial risks may also be reduced.
5. Prioritized Schedules in a Computerized Maintenance Management System (CMMS) Reduce Brand Risk
Data-driven maintenance schedules can be improved upon within your CMMS through facilities technology. If certain key performance indicators (KPIs) deviate from normal standards, scheduled maintenance can be queued earlier than originally planned. As a result, the schedule is continuously prioritized. Since your consumers will be critical of all issues noticeable in your facility, the ability to prioritize and reevaluate scheduled maintenance reduces brand risk.
6. Automated Data Analytics Re-Assess Existing Facilities Management Risks
Automated data analytics also help to navigate the treacherous waters of political and geographic unrest as well. If your company can successfully reduce its carbon footprint through facilities technologies, like energy-efficient HVAC systems, you are less likely to be the target of political or social backlash. Furthermore, improving energy efficiency leads to more savings and a big boost to your company’s image.
Take Control of Your Risks with Modern Facilities Technology
Today’s complex world of facilities management and continued economic growth demands more from your business’ risk management strategy. Rather than just “working with” your risk management strategy, leverage the power of advanced facilities technology to supercharge it. Find out how your company can be part of the solution and reduce risk by calling 1 (877) 283-8177 to schedule your facilities technology rollout with QSI Facilities now.