FMClarity has developed an innovative easy to use app-based platform to digitalise facilities management workflows.
Until now the facilities management industry has used inefficient manual systems to manage workflows and interactions with external contractors engaged to maintain buildings and undertake compliance work. These systems offer little transparency and have inbuilt compliance risks. This results in overstaffing of FM administration and prevents end-to-end real-time visibility of activity for decision-makers.
Competing providers of facilities management workplace solutions are focused on enterprise solutions often using legacy systems or software platforms that are soloed or not easily implemented or simple and intuitive to use. FMClarity’s success is founded on an insider-driven, intuitive, ecosystem that has mapped the end-to-end functional needs of facilities managers from decision-makers to administrative users to staff and contractors who get the work done. In industries that are highly regulated, like disability and aged care facilities, FMClarity caters for the range of complex scenarios needed to manage regulatory compliance, transparency and accountability in real-time, without sacrificing simplicity and ease of use even for those not used to digital workflows.
Find more detail on the FMClarity website at www.fmclarity.com
Business model development
FMClarity’s business model based on multi-year contracts like many of its competitors which places a premium on client acquisition, contract terms and client retention. FMClarity’s unique and innovative selling points build on its (i) client focus (insider knowledge of workflow processes, client needs and stakeholder management), (ii) no hassle implementation processes to get up and running efficiently and effectively, and (iii) scalable and low cost financial model. Solid strategic and financial management drive client acquisition, revenue, profit and cash flow growth. Sound governance drives management decision-making processes and accountability for outcomes. Innovation drives product development.
Whilst a young company supported by substantial funding from founder, family and friends, FMClarity is hitting its straps and gaining the market traction it deserves. It has recently secured its first formal seed funding from high net worth and Angel investors to support the next stage of growth.
Triple Innovation value add
Triple Innovation initially worked with FMClarity to refine its strategy, target market, value proposition and financial modelling to support discussion with investors.
Triple then helped evolve elements of FMClarity’s client engagement, sales and retention processes into unique features that differentiate its value proposition from competitors. As much of FMClarity’s work is higher value and subject to competitive tender, differentiation must start at the first and be integrated into every client engagement.
Triple then assisted FMClarity in Due Diligence and Term Sheet discussions with investors in 2020.
We are looking forward to continuing to partner FMClarity in its growth journey.