Optimizing Multi-Site Facility Maintenance: Best Practices for Financial Institutions

Running a multi-site financial institution can be tough. From pleasing your customers to keeping your employees engaged, you have a lot on your plate. 

And no matter how much you have going on, there’s one thing you must keep on your radar at all times: maintenance. 

Optimizing multi-site facility maintenance for financial institutions requires a strategic approach to ensure operational efficiency, cost-effectiveness, and consistent service delivery across all locations. 

At The Firm Facility Services, we specialize in facility management for multi-site financial institutions, leveraging our nationwide network of professionals to deliver consistency across each site. We've developed a guide on best practices for developing a multi-site maintenance plan for financial institutions.

Centralized Management & Governance

Ensuring you have proper control and processes over your facility operations is key to keeping things running smoothly.

There are too many things that can go wrong when facility maintenance is ignored, so ensure these steps are followed. 

Build a Facility Management Team

The first step in developing any maintenance plan is to bring together a team whose purpose is to oversee facility management. This team can oversee maintenance operations across all sites, helping to ensure consistent standards and processes. 

Develop Standard Operating Procedures (SOPs)

Implement clear and comprehensive standard operating procedures (SOPs) for all maintenance tasks, safety protocols, and vendor management. Train all site managers and staff on these procedures.

These procedures can include anything from:

• Safety inspections

• Repair procedures 

• Lockout-Tagout procedure

• Cleaning procedures, etc

Define Key Performance Indicators (KPIs)

Key performance indicators are a great way to measure performance,  maintenance costs, response times, equipment uptime, and customer satisfaction. By setting a target KPI and taking regular measurements, you can monitor your facility team’s performance and identify areas for improvement. 

Establish Proactive Maintenance Strategies

There are two ways to handle facilities– proactively and reactively. While proactive maintenance is the best way to manage facilities, there will be times when you will have to react to a problem that even the best preventive maintenance couldn’t stop. 

Let’s look at some ways to establish proactive maintenance strategies. 

Implement a Comprehensive Asset Inventory

Take a detailed record of all your assets at each location, including their condition, maintenance history, and criticality. Then, continually update this information. 

This also works for consumable inventory items. 

Prioritize Preventive & Predictive Maintenance

It is important to develop a schedule for regular inspections, maintenance, and repairs to prevent costly emergency breakdowns and extend the lifespan of your equipment. Leverage sensor-based condition monitoring when you can help keep track of the equipment’s current state. 

Many assets need a recurring preventive maintenance program. For example, HVAC systems should be inspected and maintained at least quarterly for best results. 

Utilize a Computerized Maintenance Management System (CMMS)

For a multi-facility financial institution, a CMMS system is a perfect way to centralize your facility operations. Using this system across the board allows you to track work orders, schedule preventive maintenance, manage assets and inventory, and generate reports to track key performance indicators (KPIs). 

Technology & Automation

Embracing technology can help manage your multi-site financial institution. Technology related to facility management has continued to advance, making it easier to manage many sites remotely. 

Embrace Facilities Management Software

Facility management software such as MaintainX, Limble, and Brightly Asset Essentials can help you automate tasks, improve communication, manage vendors, track work order progress, and gain real-time visibility into facility performance. 

Companies like The Firm use facility management software to help manage multi-site institutions, making it easy to track each location from a single location. 

Leverage IoT & Smart Building Technology 

To gain better control over your facilities, you can implement sensors and smart systems to monitor energy consumption, equipment performance, and environmental conditions. Use this data for proactive maintenance and energy optimization. 

Enable Mobile Access

Most facility managers who are on-site do not sit at desks. They are out walking the buildings to ensure everything is working properly. 

Because of this, it’s important to ensure your facility management teams and vendors have mobile access to the CMMS and other relevant platforms for efficient work order management and communication. 

Strategic Vendor Management

Trying to manage vendors across a multi-site financial institution can be difficult. That’s why you need to work strategically to ensure everyone is on the same page, no matter which site they are servicing. 

Centralize Vendor & Contract Management

You can help your facility management teams by streamlining the selection, onboarding, and management of vendors across all locations, ensuring consistent service quality and pricing. 

Negotiate Volume-Based Discounts & Service Level Agreements (SLAs)

If you are working with another vendor that can service many of your locations, ensure you leverage the scale of your multi-site operation to negotiate better terms. 

Regularly Evaluate Vendor Performance

Keeping your vendors accountable is essential for good service. Monitor their performance against agreed-upon SLAs and KPIs. 

You can also conduct regular reviews and solicit feedback to improve their performance. 

Cost Optimization

“How much is this going to cost?”

That’s the question on everyone’s mind. For a multi-site financial institution, managing facilities cost-effectively can be challenging, but using strategies like the ones The Firm leverages for its clients can help ensure a high return on investment (ROI).

Conduct Comprehensive Facility Audits

Facility audits are the best way to know exactly how your facility is performing. Using these audits, you can identify inefficiencies and hidden cost drivers across all locations. 

Optimize Energy Efficiency

There are plenty of energy-efficient facility upgrades you can implement to help lower costs. Some include LED lighting, smart thermostats, and building automation systems. These help reduce utility expenses and promote sustainability. 

Consolidate Maintenance Budgets

Rather than allowing each facility to have its own budget, consolidate their budgets so you can easily track where the money is going. Centralized budget management helps you gain better financial control and potentially take advantage of volume discounts. 

Maintain Compliance

As a company leader, you are responsible for maintaining the health and safety of your employees and customers. 

Here are some ways to stay compliant.

Regular Facility Audits

Scheduling regular audits with your branch and facility managers can help ensure compliance with all relevant health, safety, and environmental regulations. 

Schedule Preventive Maintenance for Safety Equipment

Ensuring your employees and companies are protected in case of an emergency is vital, so schedule regular preventive maintenance for all safety equipment in your sites. 

Some items that need to be inspected each month (or other recurring schedules) include: 

• Exit signs

• Fire alarms

• Warning and PA systems

• Fire extinguishers

• Fire suppression systems

• Security systems

Take Control of Your Multi-Site Financial Institution With The Firm

If these strategies for comprehensive facility management for your financial institution sound daunting, contact The Firm Facility Services. Our experienced team of professionals can handle your financial institution’s facility management program, leveraging nationwide resources to ensure consistent service across all sites. 

We will tailor your facility management plan to your institution’s needs, ensuring compliance, safety, cost, and customer satisfaction KPIs are met. 

Reach out to The Firm by calling 833-FIRM-411 (833-347-6411) or request a free quote online today!