Do You Know What Your Facilities Really Cost?
"Total Cost of Ownership" (also Total Cost of Occupancy or Total Cost or Operations) is a term used to describe the complete cost to the organization of a particular property (whether owned or leased). It is something that few organizations really know about their facilities. This is because most organizations have capital/debt/amortization in one budget, facilities management/building operations in another, and real estate taxes, leases, and utilities might be in yet others.
Why is it important? It is hard to make good finanicial decisions about properties when you don't accurately understand the total cost impact. It is also easier to identify those areas with the best opportunity for cost savings when you see your total cost of ownership.
Understanding your total cost is an important part of managing these costs. We can help you use data from your regular accounting system to see the total cost associate with your facilities. Then this information is available for anaylsis and benchmarking efforts to identify potential cost savings opportunities.
Ask us about our easy-to-use Excel templates to organize this cost information to provide a
financial summmary of your facilities-related costs.
Contact us with questions