Companies in Real Estate and Facilities Management, including Hospitality, Warehousing, Shopping Centers, and Office Towers, have specific needs that are often overlooked in traditional software. Capexplan is constantly improving to help these companies better manage their facilities. Some examples are listed here.
Capexplan includes all the tools to help users create Budget Proposals, get them approved and then locked as Baselines. However, the software also includes tools for Budget Transfer between budgeted items and also between Business Units. Users with the proper permissions can request budget transfers to be sent to existing or new budget rows anywhere. This will initiate an Approval Process that is specific to the Budget Approval Process.
One of the main tasks when managing facilities is to optimize the long-term planning of Asset Replacement. Be it roof repairs, heating and cooling systems, parking decks, external lighting, elevator banks or other. By providing you with the ability to plan up to 50 years in time, Capexplan provides a number of tools to optimize Capex Planning year over year. This allows you to better even out the costs over years, avoiding peaks and valleys that come with huge swings of investment.
Each time a new asset is purchased, it is possible to immediately add it in the Replan Budget. For example, if a rooftop unit has a life span of 10 years and an elevator has a 25-year life, upon purchase of new equipment, it is possible to plan for their replacement in the future. Units can be added with estimated pricing. Of course, over time the actual replacement year might vary (with great care, your rooftop unit might last 12 year or more), as so will the actual replacement cost. But having the ability to create a roadmap for capex planning can be beneficial to your company.
Capexplan includes an Asset Inventory that enables companies to store and update their assets during their lifecycle. This provides you with an overview of the status of their assets and their Depreciation Schedules, and give you added visibility and insight on when to replace them.