4 times smart buildings technology can cut costs

A recent technical brief by Verdantix notes how, while many building managers have now exhausted savings from quick-win retrofit projects gleaned over the past several years (and by squeezing their service providers), the analyst's latest research has identified a significant range of untapped cost-savings opportunities inherent in smart buildings technology.

So what are the most promising new scenarios whereby to deliver new cost-savings and efficiencies that building owners and operators should explore?

Based on its recent research report, entitled 10 Smart Building Technologies With A Measurable Financial Return, Verdantix has identified four notable ones. Lightly abridged, they are as follows:

• 1)  Integrate multiple solutions to maximize the benefits of smart building technology -- For example, by integrating predictive energy insights with automated building controls, Verdantix notes that firms can often achieve 20% in annual energy savings.
• 2)  Leverage AI-powered smart building solutions to uncover new savings -- Verdantix describes how by deploying new types of AI-powered technology that drive automation and smarter decision-making, firms can broaden the horizons of their building technology programs.
• 3)  Recognize the untapped cost efficiencies of hybrid working -- Verdantix notes that while the most sizable cost savings from hybrid working is space consolidation, firms might explore other untapped cost-saving opportunities.
• 4)  Procure better facilities management services via innovative contracts -- Verdantix recommends facility managers try out bold new strategies for procuring outsourced services, such as payment-by-results contracts or shared-savings agreements.

Read the full Verdantix technical brief.