The 4,000 regional banks in the U.S. today are facing unique challenges. There’s pressure to scale up or consolidate to compete more effectively. Many are feeling the pressure to contain costs, be more operationally efficient and assume more control over maintenance and repair spend. And at the same time, they have a responsibility to support local suppliers and provide a community connection.

A centralized facilities management (FM) platform can address all of these challenges, giving regional banks powerful new tools to operate their retail branches and offices at a lower cost and more efficiently. Larger commercial banks have already embraced centralized FM, but many regional banks perceive cost as a barrier to entry. A scalable FM platform could be the answer.

At a time when margins are slim and cost containment is critical, having a scalable facilities management plan in place can give new visibility into the efficiency of buildings, spaces and equipment. Banks of all sizes can assume more control over their maintenance budgets in addition to a better understanding of vendor and technician performance, eliminating the burden of many mundane administrative tasks from the local staff.

For some smaller regional banks, who might be outsourcing FM for the first time, it can feel like a big step, which is why it is important to have a partner that can help simplify the process, and easily add or remove resources as needed – such as moving from mobile technicians to dedicated on-site staff. Over time a program can add energy and sustainability initiatives, capital project management, location strategy and much more.

Local supplier relationships are incredibly important to regional banks. Having the right partner can bring new supplier relationships or support the ones already in place. JLL Marketplace, for example, offers more than three million curated products and transparent, pre-negotiated rates with leading industry suppliers. Banking clients would have access to those savings and relationships or have the option to assimilate their local vendors into the program. Transparent pricing models allow banks to mitigate repair and maintenance costs and have full visibility into spend.

A scalable FM program flexes with the needs of an organization at any point in time, delivering consistency, strong governance, cost savings and operational efficiency every step of the way. A centralized team can lead the charge with an open communications and change management program that invites branch managers, suppliers and the surrounding community in for a journey.

While cost considerations are always top of mind, building the business case for outsourced FM is easy, because inefficiency often proves to be a greater expense in the end.

Want to learn more? Contact JLL’s Banking and Financial Services team to explore how scalable FM can help transform portfolio operations.