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How To Keep Your Self-Storage Facility Profitable

How To Keep Your Self-Storage Facility Profitable

By Maintenance Management

How do you remain profitable as a self-storage business? Your company has done well throughout the years. As you can tell anyone, though; remaining profitable isn’t as simple as just doing the same thing you did the year before. As the owner of this facility, you need to think of ways to help keep your company profitable. In fact, you need to think of ways of how to increase your profits years after year. Inflation has changed throughout time and if you are making the same year after you, you actually can end up losing money. This is why you…

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CMMS vs Asset Management

CMMS vs Asset Management: What You Need To Know

By Maintenance Management

Technology has helped move our world forward tremendously. Almost all aspects of life have been digitalized and put in the palm of your hand. Managing your business should be no different. Whether you have a big corporation or run a retail store, management software can certainly help. CMMS stands for Computerized Maintenance Management System, which is a tremendous help for any company. On the other side, we have Asset Management or EAM (Entertain Asset Management). What is the difference between the two, because from the words alone, they look similar. It can be very easy to confuse the two, since…

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CMMS for Corporations

CMMS for Corporations: What You Need To Know

By Maintenance Management

It takes a village to keep the maintenance operations of large companies and corporations up and running. This often entails staying on top of production of the key products and services being sold, managing hundreds of properties across different locations, and juggling thousands of service requests from technicians, employees and customers. Further, the facilities management teams of these corporations will prioritize the proper maintenance of company assets and properties, while business leaders and executives in the C-suite will emphasize overall operational efficiency and cost-effectiveness. These are the type of demands and priorities that can be found amongst major corporations across…

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CMMS for Retail

CMMS for Retail: What You Need To Know

By Maintenance Management

Running a retail store can be tedious and convoluted at times. With such a large inventory and busy seasons, it’s easy for things to fall through the cracks. When you are trying to run a successful retail business, you don’t have time now the margin for error. How do you correct that then? Implementing CMMS, which stands for Computerized Maintenance Management System; can be the first step in improving your retail business. When you are wanting to make everything more organized, check CMMS. Better yet, keep reading to find out what you need to know about CMMS for retail. How…

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CMMS vs Maximo

CMMS vs Maximo: What You Need To Know

By Maintenance Management

Your business may not always be a smooth-sailings hip. Why is that? It could be because of a maintenance management problem. This is why you have considered using a CMMS or a Computerized Maintenance Management System. It’s in the name; it’s a piece of software that helps you with maintenance and management. Granted, this seems like the best option for you when you are looking for solutions. Then again, there is Maximo. What’s Maximo? Produced by IBM, a computer giant that has been around since computers have been around; Maximo is an asset management life cycle. Maximo allows you to…

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CMMS vs CAFM

CMMS and CAFM: What You Need To Know

By Maintenance Management

When it comes to data management software, it’s easy to get CMMS (Computerized Maintenance Management System) and CAFM (Computer-Aided Facility Management) confused with one another. It’s a fairly common mistake, but if you are someone in need of either for a business, you should know the differences. That is what we will be exploring in this article, so that you are better informed and can make educated decisions moving forward. What is a CMMS? As mentioned before, a CMMS stands for “Computerized Maintenance Management System”. CMMS is used for what it stands for – management and maintenance. It is a…

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How To Successfully Implement A CMMS

How To Successfully Implement A CMMS

By Maintenance Management

A Computerized Maintenance Management System, or CMMS; is intended to bring structure to any company for repair and maintenance and capital expenditure. Regardless of the industry that your business is in, implementing a CMMS brings about improvements that can be seen throughout the process. With a good CMMS, operations are going smoother, employees and premises will be better taken care of while giving you a better handle on the related budgeting and expenses. Before putting a CMMS in place, you need to know how to successfully implement one. In this article, we will go over the steps that are needed…

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electrician with hardhat and overalls using clamp tester

Integrated Maintenance, Lease and Capital Expenditure Management for Multiple Properties

By Contract Lifecycle Management, IWMS, Maintenance Management, Property ManagementNo Comments

From a tenant’s point of view, when you have multiple properties, you need to easily manage different aspects of leases/space utilization, maintenance of the locations and account for capital expenditures. Traditionally, these tasks are performed using separate CMMS, IWMS, and FAS (Fixed Asset Systems) tools.  Each area is automated to a different extent which creates islands of automation with rigid boundaries. For example, leasing a new space requires inputting of the data in multiple systems. Each system would have its own interface and requirements which would then make it hard to manage the process and would require developing separate expertise…

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Accounts Payable process

Accounts Payable Management for Properties, Maintenance and Contracts

By Contract Lifecycle Management, IWMS, Maintenance Management, Property ManagementNo Comments

As property and maintenance managers, you would need to have a good handle on your vendors and suppliers and to make sure their invoices are properly processed and paid timely. Traditionally companies have disjointed systems and groups for handling the accounts payable. This results in errors and extra manpower for managing the incoming invoices including getting the necessary backgrounds and approvals. A comprehensive IWMS, property and maintenance management system needs to include strong financials and effective processes and screens for managing the accounts payable functions. In such a case, the management of AP invoices is more efficient and with less…

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Office Building

Service Cost and CAM Reconciliations: Everything You Need To Know

By Property ManagementNo Comments

Property management systems, Lease Management Systems, and advanced Integrated Workplace Management Systems (IWMS) need to manage the Common Area Maintenance (CAM) charges and allocations to tenants automatically and smoothly.  Because of the lack of a reliable, automated process, this is usually performed in Excel spreadsheets which is tedious and error prone. Service Costs and CAM Reconciliations Service costs are net charges billed to tenants in a commercial lease and are paid by tenants to the landlord of a commercial property. Service costs often include Common Area Maintenance (CAM) charges where each tenant pays their pro rata share of a property’s…

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