Insight

Life-cycle planning takes centre stage

Chris Butchart, director of Invida, brings lifecycle planning out of the shadows

Keeping a property portfolio in tip-top condition requires attention to detail, great design, high quality materials and keeping a consistent standard and look throughout. To maintain standards also requires continuous investment to improve and replace the assets and fabric of the buildings.

 At Invida, with our background in the facilities sector, we recognised a gap in the market to provide a cloud-based software that gives property businesses the important information they need to manage the asset life-cycle process and costs effectively. Our business is still relatively new having only officially launched in September 2017, but already we have a number of large customer subscriptions, including intu – our very first customer.

Looking for innovation

The planning and coordination of investment across a portfolio of over 20 million sq. ft. of retail space can be a challenge, so in 2016 intu approached Invida in search of a system that could improve the quality of their life cycle planning and cost control. We recognised intu’s vision for its facilities and asset management and were keen to work with them to develop our software to deliver a real-life solution.

intu wanted to gain greater insight into future investments and how to better spend that money today. They required timely and robust life cycle planning to inform service charge arrangements and ensure value-for-money as well as demonstrating cost-control, which included better tools to support transparent and continuous communication with their retailers.

With multiple teams working across intu’s 14 shopping centres in the UK, the system also needed to encourage cross-functional teams to work collaboratively, generating consistent individual and consolidated life cycle management plans for all centres.

With the support of intu we’ve created truly innovative software that has revitalised a process and automated many of the stages. This innovation has delivered efficiency savings, improved the data completeness and quality and has provided a step-change in the visualisation and presentation of life-cycle management plans and costs.

Agility, experience, vision...

The agility and creativity of Invida and the collective experience and vision has proved to be a great combination resulting in a solution that has already delivered improved accuracy and visibility of future cash flow and funding requirements and improved communication and consultation with retailers and service charge consultants.

 

The control that’s available with this system should enhance intu’s already good record of maintaining low costs. The retailers will probably favour moving into an intu centre because the costs are controlled.”

John Grey
Service charge consultant