Are You Tracking Your Facility Capital Dollars?

By Scott Cormier, Senior Director of VFA.auditor and VFA.spendManager

It is a question that many capital planners and facility managers ask, and it is always difficult to get a clear and concise answer. The information is out there, but it usually resides with multiple people, in multiple locations, and in numerous software systems, making it impossible to pinpoint. It generally takes a team effort among many departments to consolidate and aggregate the necessary data on a periodic basis. This process can be challenging for any organization, but nevertheless, planners need that critical information to ensure optimization of capital expenditures.

Capital projects that address facility condition requirements are an important factor in how capital is ultimately prioritized and budgeted. Access to data on the actual cost of a requirement, the procurement status and the final closeout date provides planners with the requisite information needed to prioritize and optimize the use of capital.

VFA.facility® capital planning and management software and VFA.spendManager® capital spend management software are now natively integrated to ensure that capital planners have the most up-to-date and relevant information available to build the most effective capital budgets. Facility requirements established in VFA.facility can now be automatically defined as capital budget requests in VFA.spendManager. Capital expenditure is tracked and project status communicated back to VFA.facility. By coupling facility capital planning data with capital spend tracking data, planners gain a comprehensive end-to-end view of the capital management process as well as greater control of capital.

To find out more about the VFA integrated capital management solution, please contact Scott Cormier at scormier@vfa.com.