Gestión Financiera y FM´s

Financial Management and Facility Managers

Facility cost line is usually amongst the second or third highest of most companies’ expenditures. As a result, facilities attract a lot of the attention from the Financial Department. Therefore, in order to have a successful relationship with this department and with the Board, the Facility Manager cannot leave financial issues aside.  A Facility Manager must have skills oriented to the interpretation and presentation of financial data, understanding of the impact of his budget to the company’s financial estate and must also be familiar with financial ‘lingo’ and technics.

Excellent Facility performance and a team focused on good service delivery and quality make a solid foundation to reach the department’s success within the company, but at the end of the day every business decides around money. Language, tools and technics used by the finance teams are basic and must be understood and used by Facility Managers.

As a minimum, a Facility Manger’s financial knowledge must include expressions such as Immediate Liquidity Coefficient, Return of Investment (ROI), Net Present Value (NPV), Internal Rate of Return (IRR), Return on Capital Employed (ROCE), etc. This could be the hardest topic for a Facility Manager as the ‘lingo’ used by financial professionals to describe and manage corporate finance may become an insuperable obstacle for the uninitiated.

Registering, controlling and follow-up of building expenditure is a vital process that helps maintain the department´s funding and also fulfils the obligation of mandatory reporting. On the other hand, the same process gives useful information on tendencies, opportunities and problems that a Facility Manager needs in order to make efficient decisions and which enables him to explain the reason of any future action to be taken. As a result, Facility Managers need to spend part of their work time understanding the accounting systems used in order to fulfil the legal requirements and so that budgets and assets are properly managed and financial information is produced.

Proper cost budgeting and provisioning is a very important task for any Facility Manager. Fixed costs can significantly cut unforeseen expenses. The lack of understanding of these issues can entail big problems when companies are looking for cost reduction. Good financial management will help predict future costs through reference to past costs. This is a critical area within the financial knowledge any Facility Managers must use to support their planning and future decision making.

Financial planning of any Operational actions to take place and the control system designed to measure its results must be thorough in order to allow the company’s success as a whole, but of course we should not forget the Cash Flow, as it is a company’s fundamental mechanism for income and expenses control.  As a result, and taking into account the huge amount of costs that derive from buildings and its services, we conclude that Financial Management must be a matter of interest and concern for any Facility Manager.

 

Photo by David Trawin http://bit.ly/12QyUAy

share on your social networks
Share on facebook
Share on twitter
Share on linkedin

Do you want more information about what we do in Consultancy, Training and Research en Facility Management?

Hola, ¿cómo
podemos ayudarte?

Rellena el siguiente formulario y te enviaremos el reglamento interno y código ético:

Participate in the Observatorio FM

You can choose between these 3 options to participate:





How to participate?

Collaborating with the Observatorio FM is a personal and voluntary decision, and there is no contractual obligation or economic retribution for it.

Any interested person can apply to participate as a leader of a new project, or apply as a collaborator in an existing one.

A technical committee will evaluate the subject matter of the proposed projects and the applications of the participants, deciding which ones are carried out and by whom.

Each person decides how much they want to dedicate, depending on their availability or type of project. The aim is for it to be an altruistic activity and not an additional workload.

What does it consist of?

To promote and publish studies that help professionals in the sector and to help others understand our profession and discipline.

The results and deliverables are shared openly, always acknowledging the contributions of all authors and contributors.

The Observatorio FM’s activity will respect the objectivity, ethics, rigour and good practices that govern our Research area.

Contributors have access to the best collaborative tools, sectoral information and contacts, as well as the assistance of expert consultants and researchers at international level.

Research

FM Observatory

FM Observatory is a platform which develops and disseminates Facility Management information. It’s accessible to all those who’d genuinely like to participate. Ethical use and objectivity are essential, and all results must be shared. You decide how long you devote to it and what you want to achieve.

You can participate as:

  • Leader: define the topic and coordinate the activity
  • Collaborator: help with development

We will provide:

  • Current situation and trends regarding the subject
  • Access to experts and advisers
  • Collaborative tools
  • Design assistance and dissemination platform

All contributions will be given credit in completed projects.

Research

Projects

We are part of the European research group and we work in international teams to develop different types of initiatives:

  • Public financing
  • International bids

We also work for service providers who require support with decisions linked to:

  • Positioning
  • Product launches
  • Finding partners
Research

Standardisation

As accredited experts in the drafting processes of European and International standards on Asset and Facility Management, we are the perfect partner to assist you with:

  • Standards alignment
  • Assistance with certification
  • Specialised training

FMHOUSE is the only Spanish-speaking consulting firm that participates in these processes.

Research

Publications

At FMHOUSE we think that progress made in Facility Management should be shared, so we strive to produce and publish the following material:

  • National and international trends
  • Industry analyses
  • Market studies

The “FM Observatory” is open, should you like to contribute with a publication.

Consultancy

Workplace

Our view of spaces or workplaces from a Facility Management perspective leads to a better understanding of such a need as a service, as it is essential to apply the same logic and methodology.

Generally we offer:

  • Assessment and optimisation
  • Design strategies
  • Solutions and scenarios
  • Wellbeing and productivity

We apply our knowledge and experience to offices, learning spaces, shopping centres and the industrial environment.

Consultancy

Benchmarking

In order to make the right decisions, clear accurate market data as well as facts about the organisation itself is essential. In the Facility Management environment, this is even more critical due to the impact it has on business.

Examples of benchmarks:

  • Operating costs
  • Resource use/allocation
  • Audits and compliance assessment

These services are requested mainly by end users, but also by service providers.

Consultancy

Customer Experience

Facility Management’s overarching goal is customer satisfaction, whether they are internal or external. Understanding their feelings and needs is the key to offering a good service.

Our support is based on:

  • Satisfaction assessment
  • Customer perception
  • People-oriented models
  • Change management

We strive to understand and get to know our clients’ customers, in all sectors and types of businesses.

Consultancy

Digital Transformation

The Facility Management world is experiencing a major transition to digital environments. We help our clients understand how it impacts them and assist them throughout the change.

Our areas of support are:

  • Process digitization
  • Viability and integration
  • Digital culture
  • Technological response

We operate as independent advisers, not as brand vendors.

We advise end-users and service providers.

Hello, ¿how
can we help you?

Consultancy

Service Design

All kinds of companies need to define or improve the way in which it structures supporting activities provided by Facility Management.

Our main products are:

  • Status diagnostics
  • Service dimensioning
  • Grouping and models
  • Help with tenders
  • Assistance with implementation

Our proposals are structured according to individual requirements.

We help end customers and also service providers.

In FMHOUSE, we use third party cookies to improve our services. If you continue with navigation, we will consider that you accept our terms of use y nuestra privacy policy y de cookies