Briefly define your product.
Prabhu: Facilio is a facilities optimization platform that leverages IoT and AI to help commercial real estates achieve operational and sustainability efficiency across their portfolio. Its unique IoT-driven technology integrates seamlessly with existing multi-vendor BMS, BAS, HVAC, elevator, fire-control systems and provides contextual insights to achieve best building performance with no added hardware.
What are the key problems that you solve for today’s businesses?
Prabhu: Over 80% of the building life-cycle cost is spent on operations, repair, and recapitalization, which means between 5 to 6.5 times more money is spent on operational costs than on construction costs. Yet, the commercial building owners have been placed at a blind spot with a limited supply of critical real-time information. They continue to fire-fight issues rather than being in control of things due to the
- Decades of complex automation and legacy systems. The traditional approach to facilities management steered by hardware is bogging down commercial real estate (CRE) owners with inflexibility and rigidity.
- Facility operations are in a black box – teams are not equipped with the right problem data to identify and resolve faults, making them less productive.
- Breakdowns seem out of the blue – no central way to spot and
analyseasset anomalies in real-time.
- Massive revenue leaks in buildings from wasted energy and inefficiencies.
Who are your customers? And why they do need your product?
Prabhu: Facilities management aggregate market is ~2T USD including facility management technology market, building automation system and FM services market. We are currently targeting commercial real estate companies with large commercial building portfolios (such as business centers, tech parks, entertainment complexes, enterprise campuses, government campuses, hotels, and malls).
Commercial real estate companies need Facilio to bring efficiency in their facilities operations and sustainability management while creating superior experiences where people can thrive. This boosts net operating income for property owners, while significantly enhancing the amenity value of the property. The advantage to centrally manage and operate portfolios in real-time is multifold:
- Optimize asset performance
- Improve sustainability with savings on energy spend
- Improve workforce efficiency
With whom does your product compete in the market? How is it different or unique from others?
Prabhu: Facilio is unique in that we take a purely software-driven approach developing a strong IoT edge software, atypical of other startups in the market that usually provide a sensor/gateway/device bundled with the basic app.
Unlike incumbents like large ERP vendors, legacy IWMS and CAFM vendors or other piecemeal sustainability startups, Facilio is unique in that it removes the operational silos that building owners and operators are traditionally used to. Facilio helps in effective management of people and assets across geographically distributed buildings real-time centrally via a single easily navigable interface.
Who are your product users? What are the different use cases of your product?
Prabhu: Facilio is designed from the ground up for every stakeholder – including building owners, facility managers, technicians, and tenants – to help them do what they do, in a smarter way. The various user personas and their current problems include:
- Building Owners (/ Heads of Real Estate) – No way to centrally monitor the efficiency of building operations and compare performance across the portfolio that can increase asset value and improve Net Operating Income. Better operations mean happier tenants and occupants which is the ultimate goal for all CRE owners.
- Head of Facilities/ Facilities Manager – In charge of the overall building’s operations, maintenance, and people management. With manual operations and ineffective Excel-based or other legacy tools, they are constantly in firefighting mode.
- Sustainability/Energy Manager / Director – Responsible for energy budgeting and forecasting, investigating and adopting reduction strategies, they are constantly struggling to show ROI on energy and avoid bill shocks.
- Technician – On-field technician with little to no context about the problem seeks repeated communication over phone and site support
Any winning case studies you would like to highlight?
Prabhu: Green Optima grew their business by 25% within two months of partnering with Facilio. Facilio becomes the gateway for additional business across the region. It’s time-consuming to deliver CRE solutions, especially to large projects. Green Optima could scale business with Facilio by centrally tracking, managing, and controlling distributed properties more efficiently.
How does your product work?
Prabhu: With Facilio, owners and heads of facilities can monitor the performance of workforce, assets, and energy in real-time and across portfolio while the technicians can derive contextual real-time insights right within their ticket on the mobile app. We’ve built the product as a holistic suite to efficiently manage multiple buildings in a portfolio.
Check out the video to see how it works.
What have been your top product or growth challenges lately? And how are you managing that?C
Prabhu: With Facilio, our major challenge is to establish a new category of product and create awareness for the same among our target customers. At the same time, we had to increase our product searchability especially for those who are looking for legacy or established categories of products like – CAFM, CMMS, IWMS etc.
Facilio has and continues to address this challenge by driving efforts towards defining a future category and increase awareness. We have been focusing a lot on generating SEO rich product content. We are working towards establishing our product leadership in this category through community building.
What lies ahead on your Product Roadmap?
Prabhu: Facilio has and continues to invest in machine learning and artificial intelligence as part of its key product strategy. In the next 6-12 months, we are also looking to fast track our expansion across the US, Europe andAPAC markets. Working with millions of data points, Facilio derives key insights required to connect the three integral parts of a building – people, sustainability, and machines – together in real-time.
The Man behind the product
Currently, the founder and CEO of Facilio Inc, Prabhu Ramachandran’s career spans over 18 years of product, business and customer experience focused on enterprise-scale software for IoT-based connected services, sustainable building solutions, and telecom network management. Prabhu is a pioneer in the field of SaaS and IoT, he strongly believes that technology can be leveraged to drive environmentally responsible facilities that create a positive impact in the world.