25 Jun 2019

How SPM Assets helps customers meet industry needs

At SPM Assets we’re all about making asset management work better for you, and the TEFMA reporting configuration is an example of just that. We’re proud to serve our customers’ needs as well as the asset management sector as a whole.

What is TEFMA?

The Tertiary Education Facilities Management Association (TEFMA) in Australia supports professional excellence in higher education property and facilities management. TEFMA members, many of whom are our customers, manage some 16.4 million square metres of gross floor area, within facilities with a replacement value of some $69.8 billion (AUD), spending over $1.19 billion (AUD) annually to build, maintain and operate these assets. (TEFMA website)

Data on facilities management is gathered via a complex annual benchmarking survey: “TEFMA conducts an extensive annual benchmarking survey of its member institutions to gather comparative costs and performance data for a range of facilities management operations. The survey has developed in complexity and gained credibility during the past two decades, with its results now widely referenced as a significant source of valuable information on facilities management of higher education property portfolios.” (TEFMA website)

How we help you meet your compliance obligations

Many of our university customers face the challenge each year of collating, recording and building asset data in a timely manner.

After experiencing this complex process, we worked alongside a number of our customers to design and refine a new configuration of the SPM Assets software. This streamlines the whole process, and the reporting module is now available for all customers who want to be aligned with TEFMA.

SPM Assets’ solution

The TEFMA reporting configuration is designed to simplify the process of delivering the TEFMA reporting requirements at an element and project level to feed into the benchmarking survey. This configuration aims to make the lives of asset managers easier and more efficient.

TEFMA specific information that the SPM assets software now generates:

  • Overall Condition Rating (OCR)
  • Condition Gradings (5 to 1 scale) for 43 Building Elements
  • Facilities Condition Index (FCI)
  • Facilities Functionality Index (FFI)
  • Asset Replacement Value (ARV)
  • Backlog Maintenance.

Next step

If you are a customer of ours and would like to gain access to the TEFMA reporting feature, please contact your account manager. Alternatively, if you have identified a similar need in a different industry, please get in contact. We’d love to know how we could make asset management work better for you.