Multi-Site Portfolio Management: Why Multi-Faceted Outsourcing Wins

portfolio management

Successful multi-site portfolio management depends on clear cost reductions and optimum facility asset management. Over time, more organizations have chosen to outsource multi-site portfolio management for clear cost reduction reasons. As explained by Stormy Friday of FacilitiesNet, a 2018 study of the reasons why companies choose to outsource facilities management go back to reducing operating costs among 72% of participants, while improving global delivery and operating models was noted across 41% of participants. In other words, the expansion of organizations and the need to grow the facilities management team is the second-leading reason for outsourcing today. Of course, multi-faceted outsourcing for multi-site portfolio management is a complex topic, so it is important to understand a few things about it.

1. Outsourcing Alleviates Liability and Safety Risks

The need to proactively manage safety risks and continuously update facilities to stay in compliance with all applicable regulations is yet another leading reason for the outsourcing of portfolio management. Consider this. If an organization chooses to keep all facilities management and maintenance needs in-house, it puts the safety of those individuals at risk. In turn, such facilities may need to carry the additional insurance coverage options for their staff. However, outsourcing immediately eliminates that overhead and allows internal staff to prioritize other needs that may not necessarily require specialty skills or extensive training.

2. Multi-Site Portfolio Management Requires Emergency Preparedness and Strong Staff Productivity

Working across multi-site facilities is yet another reason multi-faceted outsourcing is crucial to maintaining a competitive advantage and building positive guest experiences. Since it eliminates the burden of managing all reactive needs and even some preventative processes, staff productivity increases. In other words, in-house staff spends less time chasing and putting out fires that arise from everyday operations and can focus their attention on more pressing matters, including customer service, performance management, and more. Additionally, outsourcing creates an expandable resource for handling the largest of problems that may arise. As reported by Facility Executive“Choosing to use several providers for individual services provides the advantage of having experts handling these tasks. But you’re still faced with other services needing attention. It would be easier on you to contract with a vendor capable of taking two or more services off your hands.”

3. It Affords a Nationwide Rollout of New Construction Signage and Renovations When Necessary

considering the need to rapidly scale the facilities management workforce, outsourcing also holds additional implications for nationwide product rollouts or facility renovations. For instance, the recent need to include additional divisors or signage to enforce social distancing and promote occupant safety comes to mind. Without a nationwide resource, it is extremely difficult to ensure all locations follow the same principles and handle rollouts effectively. It is that simple.

4. A Vendor-Provided CMMS (or BIM) Tracks and Manages Work Orders Remotely

another excellent option for the rationale of outsourcing facilities management goes back to the use of a computerized maintenance management system (CMMS) or a building intelligence system (BIM) to track all work orders and provide added insights through analysis. That also enables remote management of teams across large portfolios to further support the argument for outsourcing to streamline field service vendor management, payment processing, and more. Essentially, it creates a turnkey process for ensuring better field service vendor vetting and performance, as well as any other need that may appear.

5. Multi-Site Asset Management Leverages Data-Generating Assets to Enable Strategic Planning

Lastly, multi-site asset management helps facilities keep control of the budget by strategically planning repairs, replacements, or upgrades. After all, facilities may be able to secure better pricing when purchasing new assets in bulk. It’s an easy concept and justification too.

Empower Your Team With the Right Multi-Site Portfolio Management Partner

The right multi-site portfolio management partner can make a world of difference in your budget, the quality of your facilities, and the experiences of your building occupants, including both staff and customers. Stop trying to manage the fires with a limited, finite resource, and put the power of a strong facilities management solution to work. Request a consultation SMG Facility Services at 877-764-1500 or by submitting your queries here.

Share:

More Posts

Subscribe

Scroll to Top