the value of implementing an occupancy planning tool at bmo | a case study
TRANSCRIPT
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THE VALUE OF IMPLEMENTING AN OCCUPANCY PLANNING TOOL AT BMO
A CASE STUDY
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PRESENTED BY:
Nada FarahSr. Manager, Workplace Strategy BMO
BMO Financial Group serves more than 12 million personal, commercial, corporate and institutional customers in North America and internationally
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Ian MorleyCofounder & Chief EvangelistSerraview
Serraviewa leading provider of workplace management & optimization software in North America and Australia, delivering tools that drive better strategic CRE decisions and huge bottom line savings
PRESENTED BY:
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Occupancy Planning Challenges at BMO
41Buildings
292Floors
6 millionSquare feet
47,000Employees
SPACE AND PEOPLE:
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Occupancy Planning Challenges at BMO
BUs claimed 2% vacancybut reality was closer to 10% vacancy
VACANCY:
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Occupancy Planning Challenges at BMO
Observation studies show 40% of space not utilized on a daily basis due to vacation, sick leave, or working outside the office
UTILIZATION:
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Why Focus on Occupancy?
Real estate is the 2nd or 3rd highest cost for most companies
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Why Focus on Occupancy?
Real estate is the 2nd or 3rd highest cost for most companies
Efficient use of space can lead to significant cost reductions
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Why Focus on Occupancy?
Real estate is the 2nd or 3rd highest cost for most companies
Efficient use of space can lead to significant cost reductions
Optimizing space requires accurate understanding of occupancy & utilization
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Why Focus on Occupancy?
Real estate is the 2nd or 3rd highest cost for most companies
Efficient use of space can lead to significant cost reductions
Optimizing space requires accurate understanding of occupancy & utilization
Accurate data is needed to support space decisions
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Real estate is the 2nd or 3rd highest cost for most companies
Efficient use of space can lead to significant cost reductions
Optimizing space requires accurate understanding of occupancy & utilization
Accurate data is needed to support space decisions
LOBs also benefit from knowing where people are
Why Focus on Occupancy?
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BMO’s Difficulties Managing & Planning Space
NO BUY-IN ABOUT
OCCUPANCY PLANNING
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BMO’s Difficulties Managing & Planning Space
NO BUY-IN ABOUT
OCCUPANCY PLANNING
LACK OF TRANSPARENCY
ABOUT VACANCY
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BMO’s Difficulties Managing & Planning Space
NO BUY-IN ABOUT
OCCUPANCY PLANNING
LACK OF TRANSPARENCY
ABOUT VACANCY
MANUAL COLLECTION OF
OCCUPANCY DATA
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Problems With Manual Data Collection
TIME CONSUMING
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Problems With Manual Data Collection
RESOURCE INTENSIVETIME CONSUMING
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Problems With Manual Data Collection
RESOURCE INTENSIVETIME CONSUMING
POINT-IN-TIME COLLECTION MEANSINFORMATION IS QUICKLY OUTDATED
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Problems With Manual Data Collection
RESOURCE INTENSIVETIME CONSUMING
POINT-IN-TIME COLLECTION MEANSINFORMATION IS QUICKLY OUTDATED
NO ONE TRUSTS THE DATA
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THE RESULT?
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The Result?
• Inefficient use of real estate footprint
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The Result?
• Inefficient use of real estate footprint
• Difficulty making strategic decisions
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The Result?
• Inefficient use of real estate footprint
• Difficulty making strategic decisions
• Unrealized savings (potentially 40% of space at $10,000 a desk per year)
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to help us take control of our space management
BMO Needed an Occupancy Planning Tool
Confused about evaluating space management software? Get your free copy of this helpful guide:
5 Critical Comparison Points for Workplace Management Software
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This is Not Good Enough
This used to be all we knew about our space: floor plans
and teams
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Why It’s Not Good Enough
• Occupancy cost was based only on existing rent & historical business demand for space
• Who pays for space often doesn’t accurately depict who’s actually using it
• High level view of space usage provided limited visibility to TRUE occupancy
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We Can Do So Much More With This
Occupied Desk Vacant DeskRetail Banking
Team Names
Detailed view of teams using each space….
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We Can Do So Much More With This
Occupied Desk Vacant DeskRetail Banking
Team Names
Showing which desks are occupied…
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We Can Do So Much More With This
Occupied Desk Vacant DeskRetail Banking
Team Names
… and layers of information about teams
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And With Visibility to Individual Seating
No more duplication or “hiding“ space
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And With Visibility to Individual Seating
No more duplication or “hiding“ space
Enables decision making
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And With Visibility to Individual Seating
No more duplication or “hiding“ space
Enables decision making
Everyone can easily locate people & teams
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CLARITY ABOUT OCCUPANCY IS HELPING US:• Provide better support to our teams
Occupancy Planning is a Key Enabler
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CLARITY ABOUT OCCUPANCY IS HELPING US:• Provide better support to our teams
• More efficiently manage our space
Occupancy Planning is a Key Enabler
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CLARITY ABOUT OCCUPANCY IS HELPING US:• Provide better support to our teams
• More efficiently manage our space
• Highlight & minimize “hogging” behaviour
Occupancy Planning is a Key Enabler
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CLARITY ABOUT OCCUPANCY IS HELPING US:• Provide better support to our teams
• More efficiently manage our space
• Highlight & minimize “hogging” behaviour
• Avoid long-term rent increases (and eventually decrease rent)
Occupancy Planning is a Key Enabler
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CLARITY ABOUT OCCUPANCY IS HELPING US:• Provide better support to our teams
• More efficiently manage our space
• Highlight & minimize “hogging” behaviour
• Avoid long-term rent increases (and eventually decrease rent)
• Make better long-term planning decisions
Occupancy Planning is a Key Enabler
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The Right Occupancy Planning Tool
gives you clarity about what you have and the ability to make better decisions
Consolidate space?
Move to new space?
HOW CAN WE REDUCE CRE COSTS?
Renew leases?
Agile work environment?
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BMO’s Choice was Serraview
Click to download the full report.
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• Focus on occupancy management and planning
• LOB ownership and accountability
• Transparency for both Real Estate and LOBs
• Intuitive, easy to use
• Quick deployment period
• Superb customer service
• Modular (so we could implement in stages)
Why BMO’s Workplace Team Chose Serraview
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Shared Benefits for Other Departments
Business units can easily find people and other teams
Everyone gains an accurate book of record for occupancy
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Serraview’s Story:
• 10 years ago, Serraview founders were asked by NAB (National Australia Bank) to build a tool to automate management of new space, help make better decisions & support cultural change
• All major banks in Australia & most government agencies have been using Serraviewfor a decade
• Expanded into North America 2 years ago
• Now supporting BOM, top 2 US banks & top global technology firms
• Recently named FM Software Company of the Year by Frost & Sullivan Australia
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Want to See Serraview’s Occupancy Planning Tool in Action?
Watch the quick video on the next slide to see how BMO uses Serraview's tool to manage space:
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HERE’S WHERE THE MAGIC HAPPENS
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Serraview’s “What If?” Scenario Planning
Watch the quick video on the next slide to see how Serraview'stool makes scenario planning easy:
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BMO IS ONE YEAR IN…
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Groups Can No Longer Hide Space
Increased Clarity for LOBs
We now have Dynamic Data
Enhanced Metrics
… And Already Seeing Results
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A YEAR AGO: • We knew we had vacancy but could not prove it to LOBs
• Were forced to keep adding space & cost to meet demand
Serraview Helped Change Discussions with LOBs
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TODAY: • Valid occupancy data means everyone can see what
space is available and where• We can restack a floor to consolidate available space
for another team• We can avoid adding footprint & cost unnecessarily
Serraview Helped Change Discussions with LOBs
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• BMO’s executive team recently requested extra seats.
• Instead of leasing new space, the property team were able to show they already had enough vacancy within their own footprint.
• A simple restack of the floor allowed us to free up 20 contagious seats, preventing the need to find extra space or lease another floor (yielding an estimated $200,000 to $900,000 per year in savings).
One Success Story
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Lessons Learned
A focused approach was the right choice for BMOWe achieved faster results by focusing on occupancy planning, rather
than trying to take on too many issues at once.
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Lessons Learned
Cleaning up our own dataImplementing Serraview helped us create a reliable source of
data, not just for occupancy, but even org chart and enterprise
directory information.
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Lessons Learned
Training stakeholdersIdentifying & training LOB stakeholders put the onus on the users to
own their data & process.
TIP: Encouraging teams to include occupancy data updates in their onboarding and offboarding processes keeps data current.
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Lessons Learned
Catalyst for changeImplementing Serraview showed us where we needed to revise
processes that weren't working and implement new processes.
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THE JOURNEY CONTINUES
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BMO’s Plans for 2016 and Beyond
Further enhancing the data and our processes
Relocation management (link to website)
Utilization analysis: sensor technology and wayfinding (link to blog)
US expansion & retail sites in US
Do a reverse feed into the HR system tocapture names to seats
Learn more about collecting utilization data with this free guide to Measuring Workplace Utilization
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Find Out What Serraview Can Do For Your Occupancy Planning:
SIGN UP FOR A SERRAVIEW DEMO
READ SERRAVIEW’S BLOG
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This content was originally presented at the WORKTECH 15 Conference, December 8, 2015 in Toronto.
WATCH THE FULL VIDEO
Nada FarahSr. Manager,
Workplace Strategy BMO, Toronto
Connect on LinkedIn
About This Presentation
Ian MorleyCofounder &
Chief Evangelist Serraview, New York Connect on LinkedIn