COVID-19 Unlocks Opportunities for Workplace Improvement
The much-dreaded coronavirus (COVID-19) has turned once-bustling offices into ghost towns. This phenomenon is actually opening doors for improvements at physical workplaces in the integrated workplace management system (IWMS) market. Since employees are practicing mandatory isolation, companies can evaluate current space use, plan entire departments, and optimize workplace technology. Novel integrated workplace management systems provide valuable tools for space optimization and asset management.
COVID-19 is giving facility professionals in the integrated workplace management system (IWMS) market the opportunity to plan new designs and maximize on underutilized space to fit activity-based options for employees. Employers can rely on integrated workplace management systems to enhance the productivity of employees with the help of enterprise-wide data and analytics. .
Real Estate Planning at Forefront for Innovations in IWMS Solutions
There is a growing demand for robust analytics for real estate and capital planning in the market for integrated workplace management systems. As such, the real estate industry dominates the highest revenue in the market landscape where the market is estimated to be valued at ~US$ 9 Bn by the end of 2027. Vendors who are offering functions for real estate management in their integrated workplace management systems are acquiring global recognition.
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The integrated workplace management system (IWMS) market is advancing at a lightning CAGR of ~16% during the forecast period. Thus, the on-premises approach is a suitable option if an employer already has an IT staff and infrastructure in place for IWMS deployment. Such business practices help in cost reduction instead of switching to the SaaS model. However, it is challenging to ensure the reliability of the systems if the employer’s IT infrastructure is not backed-up with a professional staff. Hence, employers in the integrated workplace management system (IWMS) market are weighing their choices between capital, scalability, and security to use IWMS with its full potential.
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SaaS or On-Premises: What is Ideal for IWMS?
Integrated workplace management systems are deployed either on-premises or via the SaaS (Software-as-a-Service) approach. For budget-strapped employers, integrated workplace management systems incorporated with SaaS is a suitable option. The SaaS approach helps in faster recovery from disaster or other business interruptions. However, in some cases, the SaaS approach can be more expensive than the on-premises approach with mandatory handling of all IT through in-house resources.
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