This article is contributed by 4tell Solutions, a firm based in Atlanta, GA. The company’s 4tell cloud-based asset management platform delivers a precise view of where a portfolio stands, and provides data and actionable, real-time insights asset for owners and managers. By working on the same platform and the same data, 4tell is the bridge that helps stakeholders work together to maximize asset value.
Think about it. Over the years, you’ve gathered a massive amount of data (and growing!) associated with your facilities and property. FCAs, PCAs, compliance, maintenance… you’ve done them all. Yet, although these facilities are your most important assets, you don’t have a way to organize the information and make it useful. Much of it is locked in 3-ring binders or PDF reports and Excel spreadsheets.
How do you currently gather and organize your assessment data? Do you really know the current condition of all your assets? Do your internal teams spend more time tracking down and collecting the data than actually using it?
Here are a few steps you can follow to start your organization on the journey from managing assets to knowledge-based Facility Asset Management.
1) Unlock the benefits of advanced solutions.
A crucial first step in developing a sound data strategy is to move your existing assessment data from PDF reports and spreadsheets to advanced solutions that can perform powerful analytics. These solutions can significantly speed up business processes at a variety of levels — from determining which building systems would benefit most from routine preventative maintenance to creating the capital asset plan and budget for the next fiscal year. More importantly, once the data is standardized, you’ll have a single source of truth regarding the condition of all your facilities and property. That means more reliable end-user analysis and clear insights to support your strategic decisions.
2) Automate data collection to simplify the process.
If yours is like many organizations, your data strategy is reactive rather than proactive; you collect and analyze information on an ad-hoc basis when you need to. Here’s a better idea: Integrate data collection in small, regular intervals so it becomes part of your normal
business process. With the right software, you can capture data automatically during regular business operations — no additional data capture efforts necessary. A small task performed weekly is more manageable than a large one completed quarterly or annually. This will ensure your facility data is accurate and up to date.
Result: Your Facility Data Transforms Into Knowledge
When you take these first steps, you are on your way to ongoing, consistent facility data capture and delivery. As you do, you begin to create an “asset-centric” data repository that provides the basis for reliable analysis, helps you uncover valuable insights, and allows you to gain the knowledge to make better decisions.
Attend a free webinar presented by 4tell Solutions on April 30, 2019, and learn more about how to effectively capture and utilize your facility data. Click on this link to register to attend the webinar — Asset Management Maturity Is the Key to High Performance.