For corporate operations to be successful, banks need effective facility management.
Facility management is the day-to-day operations necessary to ensure a physical environment supports an organization’s needs and core function.
In this article, we will discuss effective ways for facilities management for banks in Nigeria.
What is Facility Management For Banking Systems?
Particularly in Nigeria, the banking industry offers a wide range of services through bank branches, brokers, standalone ATMs, corporate trade, and credit unions.
Nigerian banks must recognize the necessity of having integrated facilities management (FM) to enhance customers’ experiences and guarantee that all transactions take place in a secure setting and comfortable relationship.
There is a last-longing effect for Nigerian banks and the relationship between banks’ performance and effective customer relationship management through facility management – security service, ICT solutions using smart buildings IoT, and professional janitorial & custodian services.
Benefits of Facility Management For Banks
At first impression, managing bank facilities and running business operations seem to be about keeping an eye on their surroundings, internal processes, and physical assets.
Despite the existence of alternative banking methods, many customers still visit the bank premises.
The bank’s facilities are an important strategic advantage. A banking facility can assist corporate objectives, help with staff retention, and lower the cost of revenue generation when it runs efficiently. The customers, however, always come first.
The banking industry in Nigeria has become competitive. Today’s banking customers want a better banking experience within retail branches.
All facets of banking facilities management must be in line with banking business objectives, such as acquiring new banking customers, keeping them as customers, and selling them the right financial products, to compete in the market and meet growth rate targets.
The managers of bank facilities are constantly looking for ways to improve operating efficiency and support this new direction.
Therefore, the forward-thinking facilities manager not only seeks to improve the management of their facilities but also supports the physical environments that develop customer interactions through experience and lower operational costs over the long term at the same time.
As with leading-edge facilities management software, technology enables bank management to take advantage of improved facilities management systems that support corporate objectives and reduce downtime.
The banking sector may now use software that enables them to manage their facilities and make improvements where necessary strategically.
Below is a quick rundown of the benefits of good facilities management and how they help a workplace run at maximum efficiency in the banking sector.
1. Space Optimisation
How much of the 4,200 square feet under your lease are you using? Knowing what you are getting for your money and how to maximize it are two advantages of facility management for banks through FM software.
If you are utilizing 3,200 square feet, for example, that is a waste of 1,000 square feet. Data can be analyzed by facility managers to determine why a space isn’t being used and what it might be used for.
The strategy to recover cost per square foot and capitalize on it to increase revenue is laid out in FM data.
There is also an alternative circumstance to think of. Should you move to a larger place if you are using 4,000 square feet and the walls are closing in, or should you reconfigure your current floor plan?
Data from facilities management will provide guidance. Adopting a new floor plan or flexible desking solution may enable you to increase capacity without increasing your overall square footage, while also saving you thousands of Naira every month.
The biggest overhead expense you have is the actual office space. The difference between your facilities being a cost center and a competitive advantage is maximizing value.
2. Cost Analysis and Evaluation
Cost defines everything at work. An in-depth understanding of the true operating costs of your workplace is provided by a facilities management analysis.
The actual cost per square foot will be shown, for instance, by determining how much space you are using about the price of your lease.
When you start analyzing certain expenses about their value to the company, insights become abundant.
Planning, especially in the banking sector, requires an understanding and analysis of various workplace costs.
When it is time to purchase a bigger workplace, you’ll be able to budget for expansion costs.
Additionally, you’ll be able to appropriately plan your annual budget for services building systems services.
3. Customer-staff Integration
An expanding office Internet of Things is supported by integrated facilities management (IoT) or computer-aided facilities management.
Making decisions and managing connected devices is a surefire way to improve facility management.
A fast-expanding area of facilities management is office IoT. It also makes the tasks of facilities managers easier in many ways.
Consider something like an occupancy sensor as an instance. One can quickly indicate whether a conference room is occupied by installing one in each one.
Without human interaction, sensors provide information. This is true of the majority of automated, integrated technology.
But only if the financial facility is well-managed and integrated. Making the most of IoT depends heavily on facility managers.
Each of these benefits fosters an organized, efficient, and profitable business.
Business executives are more informed about the workplace, which is the most crucial component of the organization, thanks to proactive facilities management.
The capacity to make smarter decisions regarding how to enhance it also results from this understanding.
What Facility Management Areas Banks Need
Every piece in a company, especially a bank, needs to work together to function properly. But when your company grows and becomes more dynamic, there are more cogs to handle.
A facility manager’s job is to keep track of them all.
Despite many advantages of bank facilities management, the industry faces difficulties because of how rapidly consumer needs are changing.
The fact that many people are still unaware of the advantages of these services is one of the most urgent worries.
As a result, all of the banks in the sector will primarily rely on cutting-edge tools and systems.
Automation of Facility Maintenance
A Facility manager is accountable for automating facility maintenance at any number of banking and financial institutions by providing a solution that promotes flexibility, transparency, and compliance.
The importance of facilities management and maintenance in the banking business is further supported by a report that claims facilities management is responsible for 80% of the money spent during a building’s lifecycle, starting at the time of construction.
Efficient Energy Management of the Facility
Furthermore, building energy management is one of the crucial areas banks need.
To ensure a satisfying customer experience, specific places like ATM vestibules, vaults, and server rooms’ HVAC systems require continuous monitoring from the perspective of energy management.
It makes sense for banks to control the HVAC systems in the corridors and lobby to ensure customer comfort.
However, it is important to have building management systems in place. This will reduce the cost of energy generation and usage.
Banks desire water monitoring for leak detection as well as lighting control so that consumers can see when the bank is open for business.
In other words, a facility manager is the only person who can help you with all of them.
Is IoT Important In Bank Buildings?
Another crucial area in the banking sector that needs facilities managers is buildings IoT technology.
To be integrated into already-existing systems, software that controls facility management in banks needs to be understood at a fundamental level.
IT teams often know IoT capabilities and installation techniques, but facility managers are typically the ones who use the data gathered to improve the efficiency of these automated systems.
Incorporating connected devices to regulate temperature and lighting is just the beginning of developing genuinely smart facilities management solutions in the banking industry.
Additionally, these and other systems must be protected against cyberattacks. Buildings IoT is aware of how crucial cybersecurity is for building systems, particularly for financial institutions.
How Eliezer Can Help
Financial institutions can have fewer worries about having a clean environment, using smart buildings, IoT, and energy management services when the expertise of professional banking facilities management, like Eliezer Group, is employed.
Our sizable and effectively managed workforce enables us to respond immediately to staffing needs and offer a constant level of expertise and quality.
This is especially beneficial for customers who have numerous locations and bank branches.
Eliezer adheres to industry standards.
We are an obvious choice for many facilities because of our extensive experience, size, and capacity for handling special requirements.
There is no gain saying about this. Top leading financial institutions in Nigeria, like Access bank, UBA, and Ecobank, could not but enjoy the top-notch solutions we have been providing over the years.
Zero friction of your HVAC systems, fast deployment of our technical expertise. These are the core values of the Eliezer group!