Weathering the Downturn: Decline in Repair & Maintenance in 2024

The latest Building Cost Information Service (BCIS), as reported in the FMJ, forecast paints a challenging picture for the facilities management (FM) sector, with repair and maintenance output projected to fall by 5.2% in 2024.

This decline is driven by several factors, including:

• Public sector budget constraints: Tightening budgets limit the resources available for maintenance and repairs.
• Rising labour costs: Labour expenses are outpacing inflation, squeezing profit margins.
• Ongoing economic uncertainty:  Businesses are hesitant to invest in maintenance amid economic instability.

A Silver Lining: AI-Driven Efficiency

While the outlook for 2024 is challenging, there's a silver lining for social housing providers: AI.  By optimising repairs diagnostics and triaging, AI solutions can mitigate the impact of labour shortages and rising costs.

Here's how:

• Reduced Misdiagnosis: AI-powered tools can accurately diagnose issues, eliminating unnecessary technician visits and wasted resources.
• Streamlined Triage: AI can prioritise urgent repairs, ensuring that critical issues are addressed first, while routine maintenance is scheduled efficiently.
• Improved First-Time Fix Rates:  By providing technicians with accurate information and the right tools, AI can increase first-time fix rates, reducing repeat visits and saving time and money.

askporter: Your Streamlined Maintenance Solution

At askporter, we're committed to helping facilities managers overcome these challenges. Our AI-powered platform streamlines communication, automates diagnosis, and optimises scheduling, ensuring efficient and effective repairs and maintenance – even in the face of a market downturn.

Ready to learn more about how AI can revolutionise your maintenance operations? Find out more, or contact us today to schedule a demo and explore the possibilities.

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