Dive Brief:
- Inventory management firm MarginPoint unveiled a new computerized maintenance management system platform aimed at commercial real estate, government, university, construction and multifamily managers, according to a Dec. 18 news release.
- The platform, designed to streamline operations for facilities management teams, trade contractors and distributors, provides tools for third party coordination and inventory, asset and work order management, according to MarginPoint.
- By centralizing inventory and supply chain management, alongside asset data, the company can provide “a complete ecosystem that enables efficient, profitable management of your facilities and the maintenance of them," MarginPoint CEO Vince Sheeran said in the release.
Dive Insight:
Due to the high costs of parts and labor, and costly repairs associated with the failure of critical building assets, facilities managers are increasingly turning to computerized maintenance management systems, or CMMS, to gain insights into asset health, streamline maintenance operations and budget capital expenses and upgrades.
Providers and solutions aimed at accommodating that need include Hexagon, eMaint, ServiceChannel, Accruent, Planon, Cityworks and JLL, through its Corrigo platform. That competitive landscape has also pushed multiple firms to raise funds in pursuit of scaling their products and establishing dominance in a market that seeks cost-effective maintenance solutions.
CMMS firms Limble and MaintainX, for instance, have raised significant funds this year on the heels of impressive reported revenue growth. Limble raised a $58 million series B in June, following a 130% increase in revenue over the previous 12 months, while MaintainX secured $50 million in funding earlier in December, after clocking a 13-fold increase in revenue since 2021.
MarginPoint says the key features of its new CMMS platform include automated supply and replenishment, asset management, work order management, preventative maintenance, API-enabled integrations and AI-driven visualizations and insights. The platform can help manage and automatically replenish inventory to individual properties, cut maintenance costs, improve maintenance timing and increase expense ratios and tenant satisfaction by allowing facilities managers to complete more jobs in a day, MarginPoint said.
By automating the scheduling of regular maintenance tasks and tracking the health of assets on its platform, it can help facilities managers reduce maintenance costs, prevent downtime and extend asset lifespans, the release noted.
