It is the question every building owner asks prior to investing in the IoT (Internet of Things): Does the benefit outweigh the cost of the technology implementation? More simply, will there be a quick and quantifiable ROI (return on investment)?
A tool looks to help calculate this. ARC Document Solutions launched a new interactive, online value calculator that enables facilities, engineering, and maintenance management teams to quantify the financial impact of incorporating mobile facilities dashboards into their operations.
Based on usage to date, annual cost savings average six figures and can exceed a million dollars, depending on the size of the facility.
Such criteria in the tool includes: the number of buildings managed, staff size, hours worked, retiring workers, and the impact of emergencies and catastrophes, which will generate a customized report based on comparisons to industry-average estimates.
Today, smart buildings are gaining traction across the globe. For instance, in Australia, BuildingIQ, a managed services and cloud-based platform provider, acquired Buildingsense. Together the companies will provide intelligence building services for more than 30 buildings across Australia.
Over in Thailand, the Intl. WELL Building Institute brought WELL v2 to Bangkok. The WELL v2 pilot, the latest version in the building standard, is gaining traction in Thailand. So far, three projects of almost 6 million-sq.ft. in total space are actively pursuing the WELL Certification.
While these are just a few example, corporate owners across the globe are beginning to discover that an investment in the Internet of Things is beginning to pay off.
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