LONDON--(BUSINESS WIRE)--According to the latest procurement intelligence report from Technavio, the global facilities management consultancy services market is expected to grow at a CAGR of nearly 5% over the next five years due to the demand for value-added services.
The research report titled ‘Global Facilities Management Consultancy Services: Procurement Intelligence Report 2017-2021’ provides an in-depth analysis of category spend, best procurement practices and cost saving opportunities, aimed at helping organizations achieve superior business performance. The report also provides insights on pricing, supplier positioning, and top companies, enabling sourcing professionals to improve their competitive advantage through procurement excellence.
“Businesses, especially in North America and Europe, are looking at revamping their facility management strategies to generate maximum possible impact on overall profitability,” says lead Technavio procurement specialist Angad Singh for category spend intelligence. “Emerging markets in South America, MEA, and APAC have relatively low penetration. But due to business expansion and internationalization of operational processes, organizations are becoming aware of the importance of reducing energy consumption from their buildings, workspaces, and equipment,” added Angad.
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Cost Saving Opportunities in the Facilities Management Consultancy Services
Adoption of cost optimization levers allows buyers of consulting services to not only realize direct cost savings but also enhance category management and value benefits (including a reduction in procurement complexities).
Technavio procurement experts have segmented the cost saving opportunities in the facilities management consultancy services market into the following value-enhancement opportunities:
- Adoption of technology
- Supplier Competition
- Adoption of negotiation strategies
- Optimization of procurement practices
- Bundling of services
Adoption of technology saving aspects
Consulting firms are developing organizational models using insights generated via data analytics and visualization software. They are using data regression methods and risk analytics to provide industry-specific facilities management services and help businesses understand the levers they can control.
Consulting firms have been investing in IT platforms and innovative technologies to create smart workplaces that can enhance employee productivity and performance. For example, JLL developed WorkSmart model that creates workplaces by integrating people, place, and technology.
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Optimization of procurement practices saving aspects
Organizations must partner with facilities management consultancies that have industry experience and expertise to increase the productivity of facilities, reduce costs, and minimize the impact due to operational risks.
The recommendations and insights offered by consultants must focus on helping organizations develop an environment that promotes sound execution and transparency in deal structuring.
Bundling of services saving aspects
Facilities management consultants must have relevant knowledge about industry trends, market positioning of facilities management service providers, and emerging engagement models. Consultants must have an extensive experience in designing and developing organizational models that help businesses formulate a lean and effective business model.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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