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Case Study | Portfolio Evaluation

ITSM company eliminates underutilized satellite office

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Challenge

Making strategic decisions related to lease renewal for 30 satellite offices.

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Impact

Eliminating one satellite office location uncovered $115K annually in lease avoidance 

Objectives

An information technology service management (ITSM) company’s CFO and Head of Real Estate were considering consolidating their office footprint and wanted to better understand global occupancy and usage trends across their satellite offices.

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Solutions

VergeSense Strategic Advisory Services identified underutilized space in a satellite office through a detailed 90-day usage study. This effort allowed them to come to the conclusion that they could give up the lease on that office to realize cost savings, and informed a strategic model for evaluating leases at other locations.

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    Identified low occupancy trends

    The office was significantly underutilized, with an average person count of 2, and a peak person count of 17.

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    Data-driven decision

    Consistently low occupancy trends allowed leaders to feel comfortable with the decision to eliminate the lease.

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    Developed lease renewal evaluation model

    Developed a model for evaluating other satellite office leases alongside occupancy trends.

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    $115K annual cost savings

    Leaders realized $115K annually in lease avoidance with the decision to not renew the satellite location.

Benefits

Occupancy intelligence delivers powerful insights to workplace leaders so they can understand the true capacity of their offices and support more employees without impacting experience. 

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Platform features

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People count

By understanding the number of people at the building and floor level within a given timeframe, workplace leaders can understand how actual usage compares to capacity and stated office policies to identify and shed underutilized spaces or make updates to office policies. 

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Peak & average person count

By understanding peak or average person count, workplace leaders can make decisions about expanding or shrinking portfolio footprint to accommodate actual space usage.

Empowering your workplace team with confidence

No matter the challenge, we’re here to support you every step of the way. Our dedicated team ensures you have not only your workplace data but also the latest industry trends and global insights. With us by your side, you can make informed and confident decisions to enhance your workplace experience.