electrician with hardhat and overalls using clamp tester

Integrated Maintenance, Lease and Capital expenditure Management for Multiple properties

By Contract Lifecycle Management, IWMS, Maintenance Management, Property ManagementNo Comments

For facility and property managers From a tenant’s point of view, when you have multiple properties, you need to easily manage different aspects of leases/space utilization, maintenance of the locations and account for capital expenditures. Traditionally, these tasks are performed using separate CMMS, IWMS and FAS (Fixed Asset Systems) tools.  Each area is automated to a different extent which creates islands of automation with rigid boundaries.  For example, leasing a new space requires inputting of the data in multiple systems. Each system would have its own interface and requirements which would then make it hard to manage the process and…

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IWMS/CMMS/EAM Integration

Integrated Asset, Maintenance and Property Management

By Contract Lifecycle Management, IWMS, Maintenance Management, Property ManagementNo Comments

Companies need to manage their properties and keep track of their assets for depreciation and maintenance.  This is traditionally done in a disjointed manner requiring several steps to transfer the data from one system to another.  This process is time consuming and error prone.  It also promotes “islands of automation” as they would need to develop and maintain expertise in different programs. A comprehensive IWMS needs to address asset management and depreciation, maintenance and capital improvement and property management and financials in a uniform and integrated manner. Asset Management (EAM) Hard assets and capital improvements have been traditionally depreciated in…

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Accounts Payable process

Accounts Payable Management for Properties, Maintenance and Contracts

By Contract Lifecycle Management, IWMS, Maintenance Management, Property ManagementNo Comments

As property and maintenance managers, you would need to have a good handle on your vendors and suppliers and to make sure their invoices are properly processed and paid timely.  Traditionally companies have disjointed systems and groups for handling the accounts payable. This results in errors and extra manpower for managing the incoming invoices including getting the necessary backgrounds and approvals. A comprehensive IWMS, property and maintenance management system needs to include strong financials and effective processes and screens for managing the accounts payables functions. In such a case, the management of AP invoices is more efficient and with less…

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Office Building

What is Service Cost Allocation? How best is CAM Reconciliation Done?

By Property ManagementNo Comments

Property management systems, Lease Management Systems and also advanced Integrated Workplace Management Systems (IWMS) need to manage the Common Area Maintenance (CAM) charges and allocations to tenants automatically and smoothly.  Because of the lack of a reliable, automated process, this is usually performed in Excel spreadsheets which is tedious and error prone. Service costs are net charges billed to tenants in a commercial lease and are paid by tenants to the landlord of a commercial property. Service costs often include Common Area Maintenance (CAM) charges where each tenant pays their pro rata share of a property’s total maintenance charges for…

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Lease compliance - FASB ASC 842 - IFRS 16

New Lease Accounting Standards Compliance (FASB/IFRS)

By Contract Lifecycle ManagementNo Comments

Lease accounting processes are now required to comply with new Accounting Standards Update (ASU) under the FASB 842(US) and IFRS 16(European) standards. This would fundamentally change the lease accounting practices in ways not seen in decades. First to be impacted are public entities (starting 1/1/2019) and then all entities public and private (starting 1/1/2020). They will be required to change the accounting for leased assets such as buildings, vehicles, furniture and fixtures, office equipment, rolling stock, aircraft and manufacturing equipment to name a few. Who in your or any organization has a definitive list of all leased assets? What about…

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CMMS Use Cases

Work Request – Work Order Processes for CMMS

By Maintenance ManagementNo Comments

In day to day managing of the buildings, issues big and small are reported.  A CMMS needs to have the functionality to treat the reported problems appropriately based on their urgency, severity and other factors. It starts with someone calling in to report an issue or submitting it in a portal or by sending in an email.  Depending on how the maintenance group is setup in a company, a call center employee receives the reported issue and creates a service request in CMMS.  A service request is a simple object that captures the issue, the person who reported it, location…

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Penn South selects Axxerion Property Management and CMMS

By Maintenance Management, Property ManagementNo Comments

January 2019 Penn South (www.pennsouth.coop) in Manhattan selects Axxerion Property Management and CMMS after a thorough review of the systems in the market. Below is the announcement from the organization on their selection. “Penn South is a 15-building, 2,820 unit affordable housing cooperative located in three city blocks in the heart of New York City. The in-house management team has long been an industry-leader in adopting new technologies and implementing best practices and prides itself on providing high-quality service to its shareholders. Penn South recently signed an agreement with Axxerion and will be implementing the software over the coming months….

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business team looking at axxerion software

CMMS with Integrated Emergency Notification

By Maintenance ManagementNo Comments

In day to day management of real estate and properties, there are issues that need to be communicated to the occupants in a timely manner. There are cases when a scheduled repair such as a PM (preventive maintenance) work order on an elevator should be reported to the occupants. In other emergency cases, such as a case of broken main or an unfortunate case of a shooting in the vicinity, the residents need to be immediately alerted. During the day, the maintenance and emergency issues are reported to the maintenance groups and in off hours they are reported to the…

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handshake while handing over keys after signing contract

How to manage your keys, security and access using an IWMS?

By IWMS, Property ManagementNo Comments

An Integrated Workplace Management System (IWMS) (or Computer Aided Facilities Management –  CAFM system) is expected to manage keys and access for employees and visitors including contractors. Setting up the locks, cylinders and keys The system needs to track the locks, cylinders and keys as types of assets. For each type, all the related attributes need to be collected as database fields and stored with the item. Attaching Locks to Areas and Assets Once you define a lock, you need to be able to assign it to an area, an asset or a vehicle. The assignment should be easy, and…

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industrial photo with axxerion software

What is the most efficient way to manage your CMMS customers and projects?

By Maintenance ManagementNo Comments

As a maintenance service provider in HVAC, electrical, custodial and other disciplines, there are several considerations in selecting a CMMS.  As you sign up a client for any work, you would need to encourage them to setup a contract for long term maintenance which indicates the services, costs and payments and a set of preventive maintenance activities that needs to be done, how often and by who. This is a win-win situation where the client benefits from the preventive maintenance and you would be the best choice for performing this work for the client. CMMS needs to provide the tools…

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