By Melissa Centurio Lopes on Jul 06, 2016
are taking a fresh look at facilities and asset management—and reaping a number
of business benefits.
In the past, executives often treated spending for this area as a sunk cost, but growing numbers of forward-thinking leaders are now embracing facilities and asset lifecycle management (FALM) as a way to drive organizational value.
Research by the Aberdeen Group shows why. The firm found that enterprises that excel in FALM see more than 90 percent of their projects coming in on schedule or earlier than anticipated. These organizations also reported minimal costs to process work orders and achieved double-digit decreases in maintenance and energy expenses.
"Enterprise success and growth can only be obtained through the management of the many complex processes within facilities management, such as planning, portfolio management, lease management and project management," the Aberdeen analysts concluded. "For the Best-in-Class [organizations] it starts with the effective management of their real estate/property portfolio."
The Key to FALM Success
Oracle's Primavera Facilities and Asset Lifecycle Management is an end-to-end solution that helps organizations manage everything from capital planning, project delivery, and execution to real estate, leases, and maintenance activities.
"The solution addresses the biggest challenges organizations face when trying to achieve successful FALM," says Sherief Elabd, Oracle director of business development and industry strategy. "This includes selecting the proper deployment options, integrating FALM with ERP systems, and ensuring FALM serves inter-operational teams to maintain collaboration and transparency."
Primavera's FALM solution leverages modern Oracle Fusion technology and is built on best practices across the entire facilities and asset lifecycle, the solution provides a single, integrated platform that brings together every phase of the facilities lifecycle At the same time, it's also highly configurable to meet the unique needs of each company's industry and business processes and regulatory and compliance requirements. Because, it uses the Oracle Cloud environment, organizations can choose to deploy it using public, private, or hybrid cloud models.
"Technology disruptions to the industry are evolving to match the accelerating pace of change and innovation in the digital workplace," Elabd says. "FALM is a modern technology platform that targets organizations aiming to achieve visibility, transparency and collaboration into cross-functional teams across the planning, building, and operating phases."
Learn more about Oracle's Primavera Facilities and Asset Lifecycle Management by downloading eBooks, videos, on-demand webcasts, and a wide range of other materials.