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VFA Adds 12 New Corporate Clients As
Capital Spending Among Corporations Rises
11 of 12 Among Fortune 500; Corporate America Adopts Facilities Capital Planning & Management Solutions as Corporate Capital Spending Rises
BOSTON, MA - July 10, 2006 - VFA®, Inc., the leading provider of software and services for facilities capital planning and asset management, today announced the addition of 12 new corporate clients, including 11 Fortune 500 corporations, to the growing list of customers that employ VFA solutions to optimize their investment in facilities capital assets. Some of the world’s largest healthcare, financial services, pharmaceutical and manufacturing companies employ VFA’s Capital Planning and Management Solution (CPMS™) to manage the entire capital asset lifecycle.
Fortune 500 corporations have an estimated $4.2 trillion in property, plant and equipment on their balance sheets, and almost one-third of that amount is real estate. Managing the diversity, details and sheer volume of data related to all of these capital assets poses significant challenges for corporations. According to the spring 2006 Duke University/CFO Magazine Business Outlook survey, corporate capital spending in the U.S. is expected to increase by an average of 6.5 percent in 2006. Progressive companies recognize that they need to better comprehend and communicate the long-term business impact of decisions related to facilities capital investments in order to justify spending and demonstrate return on investment.
“With the current emphasis on fiscal restraint and corporate responsibility, it’s no surprise that corporations are looking at their real estate assets more strategically,” said Jerry Kokos, President and CEO of VFA. “The need to improve financial performance while absorbing skyrocketing energy costs and ensuring business continuity places enormous pressure on corporations to scrutinize facility spending to identify opportunities to improve operational efficiency and deliver greater return on facility investments.”
More than 300 organizations employ VFA solutions to help them maintain accurate information about facility assets, develop cost-effective capital plans and projects, streamline the capital budgeting process, ensure continuity of critical business systems, increase long-term utilization of capital assets, and maximize their return on capital investments.
Kokos continued, “Corporations are turning to VFA to gain greater insights about their facility portfolio and where to focus their capital spending. CFOs with accurate information about the condition of facilities and the analytical tools to leverage that data effectively are in a position to make better decisions regarding long-term capital investments.”
About VFA
Headquartered in Boston, VFA, Inc. is the leading provider of end-to-end solutions for facilities capital planning and asset management. VFA’s Capital Planning and Management Solution (CPMS™) uniquely combines facility assessment services, Web-based software, and business consulting services to enable clients to manage every stage of the capital asset lifecycle—from requirements gathering and long-term planning to capital budget creation and spend management. VFA has helped over 300 organizations in education, federal, state and local government, healthcare and corporate markets to strategically manage more than two billion square feet of real estate. For more information, please call 800-693-3132 or visit www.vfa.com.
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Press Contacts
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Laura Cook
VFA, Inc.
617-451-5100
info@vfa.com
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Erik Clausen/Liz Serotte
Schwartz Communications
781-684-0770
vfa@schwartz-pr.com
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