International Data Corporation (IDC) today published a new assessment of nine companies in the integrated workplace management system (IWMS) market. The IDC MarketScape report uses a comprehensive framework to assess these vendors relative to a set of criteria that explain both short-term and long-term success in the IWMS market. The nine integrated workplace management system vendors evaluated in this MarketScape report are: Accruent, Archibus, FM:Systems, IBM, Nuvolo, Planon, SpaceIQ, Tango, and Trimble.
HR Technology News: BiznusSoft Rolls Out Payroll Solution On Industry Leading Salesforce Platform
Facility management applications are software that supports the maintenance and operational profile of assets and systems directly tied to the functionality of buildings and related outdoor sites. An integrated workplace management system (IWMS) enables building owners and occupants to manage day-to-day operations and long-range planning of buildings and facilities. An IWMS combines functionality across multiple facility and workplace management disciplines, including: maintenance management; capital project management; real estate and lease management; and space management.
HR Technology News: TecHRseries Interview with Cyril De Queral, CEO at Powell Software
Many organizations have relied on an IWMS to maximize the use of their existing real estate portfolio, optimize space to fit more people, and expand facilities through large capital projects. But the market has experienced some seismic shocks over the past two years. First, major changes to lease accounting standards, which took effect in 2019, greatly impacted how organizations handle operating leases on their balance sheets. Then, just as organizations were getting a handle on accounting for leases, they were hit with one of the biggest disruptions to workplaces in decades: the COVID-19 pandemic. In the short term, organizations had to quickly shift to remote work, modify floor plans for social distancing, reduce building capacity, implement new schedules, and deploy novel technologies. Meanwhile, real estate and facility professionals have turned to a variety of “return-to-work solutions” for space reservations, health attestation, contact tracing, proximity monitoring, wayfinding, cleaning, communications, and so on.
In the wake of these shocks, more organizations now realize they need a digital transformation strategy for facility management. As they develop long-term plans for workplaces, campuses, facilities, and retail outlets, organizations are increasingly focused on flexibility and resiliency. That process starts with compiling and analyzing facility, maintenance, space utilization, environmental, capital project, and real estate and lease data. What becomes abundantly clear is that multiple departments and user types across the organization need access to the same information and insights. A modern SaaS and cloud-based IWMS can help orchestrate faster data-driven enterprise-wide decision making and actions compared with siloed, disjointed, and sluggish legacy systems.
HR Technology News: Make Sure Your Human Capital Management System Works As Hard As You Do