Tara Support Services

A new approach to Asset Management

Posted On: August 18, 2022

A good asset management process is crucial to optimise operational performance, minimise whole life costs and is essential for the efficient and sustainable operation of any organisation. The key principles are quite basic and in short it boils down to being a register identifying assets for audit, location, defining routine service/repair (required & conducted) and annual condition status to ensure accurate assessment of depreciation/replacement costs so there is a maximum ROI over the asset’s whole life.

At a minimum a good proactive asset management system provides an overview of what an organisation owns or leases, its condition, location and when it will next be maintained or replaced.  When used correctly it really simplifies the budget planning process for facilities managers and enables effective planned & preventative maintenance.

There are several ways to define assets. Some companies find that they only have resource to monitor those items over a certain budget level whilst others forget about “fixed” assets such as HVAC etc., whilst some ignore leased items. Most have systems that just record unique asset numbers and general details without the ability to easily update this information per item outside of any intensive asset audit process.

These recording methods vary from company to company with some still maintaining old fashioned ledgers or having dedicated asset management and maintenance software designed for that sole purpose but these are not easily sharable with all stakeholders and can be unreliable if assets are transferred, unrepairable, lost or stolen in between audit cycles.

By creating a living digital blueprint (LDB) Tara is able to capture 100% of the visible static and portable contents of a facility both internal & externally which are then overlaid with whatever relevant information about the asset is required including asset number, purchase details, warranty, service information’s, consumable part numbers etc. This can be linked to relevant company apps such as accounts for current book value or to other internal/iCloud/web based software.

The 3D mapping allows any authorised users located anywhere in the world to explore the facility in a real life perspective and they are able to view the assets in-situ together with defined details (subject to permissions given by the LDB controller). The information can be integrated with existing systems and creates a “real life” Digital Twin which is a cornerstone of embracing digitalisation in the FM and building control sphere.

If you are due (or overdue!) an asset management audit, please contact us to arrange an on-site demonstration for your evaluation. https://www.tarasupport.com/contact-us/