Return On Investment
Facility and Equipment maintenance are necessary expenses for organizations dedicated to regulatory compliance and superior care for its guests, customers, or tenants. And software is a necessary expense for the efficient and effective delivery of maintenance and daily facility operations. Fortunately, for facilities investing in Facility Management software, the ROI is typically significant. Since maintenance and facility operations are an expense, the ROI depends upon the extent to which these expenses are reduced; and of course, on the costs associated with the software. M1Encompass is the most affordable and powerful solution on the market, resulting in an extreme Return On Investment.
The Truth About ROI
It is generally accepted that a CMMS application will reduce equipment maintenance expenses in the following measurable ways: Increasing Equipment life; Decreasing Equipment Downtime; Inventory Management; Increasing Labor Productivity; and Increasing Energy Efficiency. There are also less tangible ways to benefit from maintenance management software, including Regulatory Compliance, organization and ready access to records for projects; contracts; keys; increased employee accountability; minimizing risk by documenting equipment maintenance; improved relationships with facility employees.
To reduce maintenance expenses significantly and derive maximum benefits from any application, the software must be setup properly and implemented, the staff must be trained to use the features that generate these savings, and the software must perform as represented. It's what we call "optimization."
Optimization expenses could be as little as zero for hospitals requiring nothing more than telephonic training for a simple work order application; or we offer a week-long, comprehensive, onsite training program to implement all application features, including the mobile applications and equipment barcoding.
The expenses associated with optimization are incurred during the first year. In the following years the only expense incurred by the hospital is the annual subscription fee, which included upgrades and enhancements, and toll-free technical support.
It takes time and money to optimize all software features. When savings exceed software expenses, the ROI is positive. Give us a call to receive a Return On Investment calculation catered to your facility needs and operations.