Facilities management market poised for 11.8% annual growth over next decade

The facilities management (FM) sector is evolving rapidly, merging human elements, processes, and technology to enhance the functionality and safety of buildings. Currently valued at $70.6 billion, the FM market is expected to grow at a rate of 11.8 per cent annually over the next ten years, propelled by the rising need for various services such as maintenance, user, and project management.

The industry is witnessing a paradigm shift with outdated methods giving way to innovative cloud-based solutions, leading to optimal resource use and streamlined operations. QuickFMS, a pioneering product from SatNav Technologies, steered by the visionary Amit Prasad, who is at the forefront of this transformation.

Founder and MD of SatNav Technologies, said the FM domain was once marred by manual, error-prone processes and disconnected data systems, which led to inefficiencies and inflated operational costs.

In an exclusive interview to Bizz Buzz, he said QuickFMS has revolutionised this scenario by providing a comprehensive suite of tools that cater to the diverse needs of facility management, distinguishing itself from competitors who may only focus on specific segments like asset tracking. This holistic approach by QuickFMS offers businesses a unified solution, saving time, money, and the frustration of managing disparate software systems

Can you please brief us about SatNav?

SatNav Technologies has been a pioneer in the IT products domain for over two decades and is currently focused on promoting QuickFMS, its proprietary facilities management software. This software is fully integrated with the robust Microsoft Azure cloud platform. QuickFMS stands as a testament to SatNav's innovation and dedication to providing state-of-the-art solutions in the CAFM (Computer-Aided Facilities Management) & Integrated Workplace Management realm. Recognised as leaders in the facilities management software industry, QuickFMS's global reach is extensive.

With a user base exceeding 2 million across more than 10 countries, sales partners in 8 countries with more on the anvil, SatNav Technologies is steadily establishing its reputation on the international stage after having attained a market leader status in India. It showcases its commitment to excellence, adaptability, and customer-centric solutions that help organisations save money through better infrastructure utilisation and enhance the efficiency of their employees. A wide range of recognitions, awards, and collaborations bear testimony to the significant potential of this product worldwide.

What are the products and models you cater to?

QuickFMS is a leading Cloud and SaaS-based Facilities, Admin, and Operations Management software. Mobile-enabled, it aids both large and small organisations in simplifying their facility management tasks. By addressing complex challenges, QuickFMS enhances employee efficiency and fosters an improved workplace experience. Its 10 modules include property, lease & tenant management, space management & hot desking, asset management, maintenance management, helpdesk internal ticketing system, contract management, remote branch monitoring, shared services, and energy budget management.

SatNav offers QuickFMS in different deployment models. Cloud-Based Deployment (SaaS), favored by QuickFMS, epitomises modern workplace management with its easy accessibility and cost-effective subscription models, ideal for agile businesses. It also ensures timely software updates. Though data is hosted off-site, its flexibility is notable. Clients can select from a single module to the entire QuickFMS suite, aligning with their evolving needs. In contrast, On-premises deployment offers businesses control over their infrastructure and data. This model is known for its customisation capabilities but comes with higher initial costs and the responsibility of maintenance. Like the cloud model, it provides the flexibility of module selection, allowing for tailored solutions.

What is QuickFMS and how is it different from its competitors?

QuickFMS, a cloud-based Facilities Management Software (FMS) distinguishes itself from competitors through several key features: 1. Comprehensive Modules: Offering a wide range of modules covering various aspects of facilities and workplace management, QuickFMS provides an end-to-end solution for administrators and facilities managers, accommodating their daily work requirements efficiently. 2. Adaptability and Customization: Recognising the unique needs of different organisations, QuickFMS provides customisable workflows, ensuring tailored solutions and 100 per cent assurance that clients' requirements are met through manual customisation. 3. Strategic Partnerships: Collaborations with industry leaders like Microsoft enhance QuickFMS's capabilities, ensuring alignment with the latest technological advancements. Gold and Silver Partners of Microsoft further promote QuickFMS, facilitating market expansion worldwide. 4. User-Friendly Interface: QuickFMS boasts a simple and intuitive user interface, making navigation easy for users of varying technical expertise, regardless of the organisation's size. 5. Customer Success and Support: The emphasis on post-implementation support, led by the Customer Success Team (CST), adds significant value, ensuring continuous improvement and ROI for customers, thus distinguishing QuickFMS from competitors.

Please elaborate on your strategic hiring and investment initiatives.

As we prepare for accelerated growth, prioritising the attraction of top-tier talent and augmenting our research and development (R&D) budget assumes paramount importance.

Our steadfast commitment lies in enhancing customer experiences and nurturing innovation. Integral to this strategy is our internship program, which actively involves college students in sales and partner expansion initiatives, infusing fresh perspectives into our growth trajectory. Presently, nearly 20 per cent of our workforce comprises interns, whose contributions to our strategic growth plans rival those of full-time employees, if not surpassing them. Concurrently, our investments are directed towards product development and market expansion endeavors.

We maintain a dedicated team focused on incorporating customer feedback into quarterly releases, while aligning our product roadmap with emerging technology and business trends. Moreover, 30 per cent of our technical resources are dedicated to continuous product improvement. In our market penetration efforts, we leverage innovative strategies such as partnering with Microsoft-aligned resellers and engaging with Microsoft Country Managers to establish credibility and garner local support in target markets. Collaboratively, we generate and manage leads, fostering mutual growth and meeting collective objectives. To date, we have generated over 50 potential customer leads in the Middle East and Asia Pacific regions, with plans for further expansion in subsequent quarters.

How is your business different from others?

QuickFMS stands out in several aspects: offering a breadth of modules covering all facets of facilities and workplace management, allowing for tailored workflows to accommodate varied organisational needs, forging strategic partnerships to enhance capabilities and innovation, boasting a user-friendly interface for seamless navigation, and prioritising post-implementation support through its Customer Success Team (CST). These distinguishing factors collectively contribute to QuickFMS's unparalleled competitiveness and sustained success in the market.

What are your business plans for 2024?

SatNav anticipates substantial growth, facilitated by strategic partnerships with well-positioned regional allies and tech giants like Microsoft, expanding the reach of QuickFMS globally. Collaborations in the Middle East, Southeast Asia, and Africa underscore our adaptability to diverse markets. These alliances solidify our dominance in facilities management, aligning with the sector's future trends: tech adoption, sustainability, and well-being integration. QuickFMS, supported by these partnerships, is primed to lead amid rising hybrid work demands, offering innovative solutions. Our focus remains on continuous innovation, user experience enhancement, global expansion, cybersecurity measures, and integration capabilities, ensuring QuickFMS stays at the forefront of industry evolution.

What are your pioneering innovations for enhanced outcomes?

To remain at the forefront of innovation, QuickFMS employs strategies like active industry engagement, strategic partnerships, fostering a continuous learning culture, gathering customer feedback, and promoting cross-functional collaboration within the company. These strategies are essential for adapting to market dynamics and maintaining competitiveness in the dynamic IT industry.

Through continuous thrust on R&D, QuickFMS caters to a broad spectrum of clients across diverse sectors, including Fortune 500 companies, both in India and globally. Its user base encompasses leading IT firms, BPOs, BFSI entities, retailers, manufacturers, and sizable conglomerates, demonstrating its versatility and appeal across a wide range of industries. We have the ability to show value to any firm which has 250 or more employees, with the benefits magnified several fold when the employee numbers cross 5000. We aim to be a shining example of an IT products company from India, with a product that can be deployed in any industry vertical and any geography, with ease. As the Indian economy grows and we march ahead to reclaim our once acclaimed position of ‘Sone ki chidiya’ from several centuries ago, QuickFMS too will be seen as a living example of our ability to build world class products from India, for the world.