Portfolio Management
Portfolio management, otherwise termed space management, is the process of managing the company's physical space. It includes tracking and maintaining the space and occupancy details (that is, how much space a company has and how it is being used), and forecasting the real estate requirement in the future.
Portfolio management is a multi-level procedure that comprises data collection, analysis, forecasting, and strategizing. Primarily, it focuses on creating a space management system that defines the floor layouts and occupants throughout an organization. Mostly, workplaces have large chunks of space that are unused or underutilized. Upon analysis, an efficient space management system can ease out identifying such areas, enabling organizations to scale for effective resource planning.
Modern portfolio management is not just limited to optimizing space utilization but also focuses on virtually controlling real-time facility operations with the help of interactive building plans. Additionally, it facilitates connecting with other modules to fetch related data (like maintenance and booking details).
Every organization must have a better space management system in place to manage its real estate portfolio. Many companies realize the added value of investing in facility management software as they look for new and innovative ways to expand their businesses while also cutting costs. It is the responsibility of the respective facility managers to adopt an appropriate CMMS solution that aligns with the goals and objectives of the organization to track and report on their facility and real estate information. Adopting such technical innovations offer a better understanding of business practices and help realizing the scope of optimization.