Smart building solutions are on the leading edge of digital transformations in workspaces across every industry. From healthcare facilities to corporate offices and more, IoT- powered solutions are delivering efficiencies and quickly transforming our traditional understanding of how we interact with work environments.
Applications built on IoT capabilities have proven their value to occupants, property owners and other stakeholders around the world while disrupting conventional facility management practices through easier optimization and streamlining of processes.
Energy use and savings, regulatory compliance, the employee experience and related factors like productivity and turnover, maintenance costs, environmental impact — all these areas and more have benefitted from leveraging the power of digital insights provided by location technologies into new processes and procedures.
That’s why we’ve put together this list of areas where smart building solutions can have a direct impact on the financial performance of any facility where they operate. Use them to help unlock investment decisions and push the conversation forward by pointing to the benefits they bring.
How to Measure the ROI of Smart Building Solutions
Measuring the return on investment in smart building solutions mostly means taking a close look at savings derived from four particular areas these solutions are especially effective:
Space optimization. Smart technologies can give you more accurate insights into how your space is used and if it is correctly divided in a way that meets your needs. Automation. The real-time information gathered by IoT-powered infrastructures can be integrated with building management systems to automate things like environmental conditions, lighting and some security measures.
Preventative maintenance. With so many moving parts in physical systems in large buildings, something somewhere is nearly always approaching the point of breakdown or failure, restocking or routine maintenance. Sensor data collected from smart technologies can estimate when these events will take place and create preventative maintenance schedules to avoid closures, delays and other interruptions.
Tracking services. RTLS (Real Time Location Services) are the foundation of any number of applications that provide real-time insights into the location of assets, employees, visitors and more.
This is where the conversation about ROI starts. Let’s take a closer look at each one in turn and cover the details of how and where smart building solutions deliver tangible, measurable results.
