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How to solve common asset management issues?

October 17, 2018
Loc8 Insights How to solve common asset management issues

To maintain constant levels of productivity and profitability, field service organisations rely on their ability to not only efficiently utilise resources but also maintain tools/machinery in a working condition for extended periods of time. In other words, they need to be aware of how to properly manage their business assets. However, improper asset management can throw up a number of asset management issues, especially for companies that are inexperienced and just getting into the field service space.

Inability to utilise GIS data

A common problem faced by most field service companies is not properly utilising technician-sourced data, including Geographic Information Systems data (GIS data). In the field service industry, GIS data allows organizations to view all of their assets and infrastructure on a map-like interface for tracking and maintenance.

While this concept is relatively new in the industry, organisations have seen great a great improvement in their operations by integrating GIS data into their asset management systems. For instance, you can build visual, map-based views linked to spatial asset management information that can help you prepare for unexpected maintenance events.

Inefficient communication channels

In the tradie space, the importance of free flow of information across departments cannot be overstated. Previously, field technicians would rely on telephones and walkie-talkies for communicating with back-office staff as well as other in-field techs. Thanks to an increasingly widespread adoption of technology, companies are more aware of the advantages of using smart devices and technology-based solutions for creating seamless channels of communication. For example, using an integrated enterprise asset management system can provide your technicians with a centralised platform for accessing important job and customer data. Not only will this come in handy for your organisation’s existing technicians, it will also helps reduce the time spent by new recruits in orientation and training.

Missing green goals

Field service organisations can utilise modern asset management systems to do their bit for the planet. Reducing wastage of resources is a major step in caring for the environment, and this is where good asset management systems come into play. Through measures like effective preventive maintenance scheduling and pollution monitoring, field service companies can ensure that the available assets are being used to their ideal capacity and direct maintenance efforts towards only those assets that absolutely need it. Not only will you be minimising wastage of resources, you’ll also be reducing your company’s carbon footprint.

Uncooperative software vendors

The best asset management software is only as good as the service that comes with it. Hence, choosing the right vendor for your company’s asset management solution is not something you should take lightly. While modern software features and a proven track record are the basic factors to look out for, you need to be assured that you will have service support, ideally 24×7. Consider approaching vendors that let you try the software on a pilot basis before asking you to sign an extended contract.

A field service company is only as good as how efficiently it handles asset management. By improving your organisation’s asset management systems, you can avoid the mistakes made by competitors, and improve service quality levels to ensure better customer/client retention.

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