The facility management industry is a fragmented and complex industry. Their customers consist of incumbent construction industry players who inherently are risk-averse, due to long lifecycle of their buildings. Thus in order for the FM industry to grow, they have to prove that their solutions are well-founded in customer needs and a have strong business case.
FacilityCo. sought support in determining potential emerging areas for growth in their digital solution offering. FacilityCo. sought to benchmark competition in order to identify the unmet needs of customers. The purpose for FacilityCo. was to solidify its strategy work for the upcoming year.
The key questions addressed in the project:
Q1. What are the market trends and drivers of the facility management industry?
Q2. What are the unmet needs in the market?
Q3. How can FacilityCo. serve those unmet needs of the market?
FacilityCo. utilized SCG’s on-demand workforce to accelerate their understanding of the evolving industry and identify potential areas to expand their service. This sprint identified three key development areas where FacilityCo. could cater to the needs of the customers.
SCG conducted a project in three phases:
Phase1: Identify market trends and drivers impacting the industry
To understand the FM industry SCG's agile workforce conducted a thorough mapping of industry trends and drivers. Two markets were selected for a deep dive - Retail & Office. Next, trends were identified for each market and the current solution provider was mapped within each market segment. During this phase, deeper insights were collected on the current solution provider’s products and SCG's agile workforce listed their features, functionality, capability and benefits.
Phase2: Insights creation from the benchmarks
During this phase, based on the collected information SCG's agile workforce consolidated market insights into prominent five themes such as Space occupancy-based savings, adaptability of building towards individual needs etc. Furthermore, current challenges were identified with facility management face, such as:
Phase3: Mapping opportunity areas
During this phase, SCG's agile workforce outlined the potential solution areas for FacilityCo. Those solutions were drafted on a time horizon i.e. must-have capability, next-level business opportunity and visionary solutions. For instance, the first horizon provided inefficiencies in the information flow and a detailed solution to improve the quality. It highlighted the gaps in the information flow and recommended solution with automated workflow for faster work order creation. Additionally, SCG's agile workforce identified 3 other solution areas for FacilityCo.
SCG identified key trends that drive the growth of the facility management industry. Each of these drivers was supported by concrete recommendations. The proposed recommendations supported FacilityCo. in their strategy development process.
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