Good Asset Information Management Is a Necessity for Facility Managers

Facility managers are responsible for keeping buildings and assets in tip-top shape and ensuring the safety and comfort of customers, company employees, and other facility occupants. Failure or downtime of equipment can disrupt regular workflows and thus negatively impact facility operations. That’s why mastering asset information management (AIM) is crucial for facility managers to do their job effectively and efficiently. AIM can help prioritize assets that require attention, keep accurate records to prevent unforeseen costs, and minimize downtime through routine maintenance scheduling.

AIM-focused facility management software is a powerful tool that every facility manager should be using. With the right AIM system in place, they can take control of their operations and maximize efficiency and cost savings. In this article we’ll dive into the importance of AIM and how it can benefit facility managers in managing their assets.

Prioritizing Assets Saves Time

Asset inventory management systems can help facility managers track the performance of their assets over time. By collecting and analyzing data on the usage and condition of assets, facility managers can easily determine when an asset needs to be replaced or serviced. This information can also help facility managers save money by helping them plan for future purchases, repairs, and maintenance. In this way alone asset inventory management systems provide a valuable tool for facility managers to effectively monitor the condition of their assets and ensure they are running efficiently.

The problem, unfortunately, is that most facility managers have a plethora of facilities and equipment to manage, making it difficult to keep tabs on every single piece of equipment. Like the proverbial “old woman who lived in a shoe”…

She had so many children, she didn’t know what to do.

Thus, asset prioritization is the first step toward ensuring that the most critical equipment is being managed effectively. AIM systems can help prioritize assets based on criticality and, should the asset fail, determine its potential impact on overall operations. Facility managers can then allocate resources accordingly, which saves time and ensures efficient management of assets.

With the right asset inventory management system in place, facility managers can keep track of their facility’s assets and ensure they operate at peak performance. As an example, below are two screen grabs of Data Fleet’s Property Echo AIM system reports, one focusing on asset health and the other on asset locations:

Property Echo sample assets report screen
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Property Echo sample locations report screen
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These reports can also be requested using our FACILITY AI tool by AI engagement via text/voice-based chat that also has access to a robust facilities knowledge base.

Facility AI: A Revolutionary & Disruptive Technology

Accurate Asset Lifecycle Records Save Money

To maximize the value provided by an AIM system, facility managers need to have a clear understanding of how each asset operates and its expected lifespan. This will enable them to make informed decisions about which assets need to be replaced or repaired—and when. Additionally, having detailed records of all equipment can also help facility managers detect irregularities in performance or usage that can point to potential problems before they become major issues.

Facility managers, therefore, need to track the lifecycle of all pieces of key equipment and ensure that they’re replaced on time or repaired when necessary. The cost of repairing or replacing equipment can often be substantial, which is why accurate asset records are essential. A capable AIM system like Property Echo can track asset details such as equipment model, acquisition date, maintenance costs, and uptime/downtime. This information helps facility managers predict costs and schedule replacements or repairs proactively, thus saving money and reducing unforeseen costs.

In addition, AIM systems can help facility managers plan out preventive maintenance schedules to ensure that all assets are functioning at optimal levels. This helps reduce the risk of expensive breakdowns and ensures that processes run efficiently.

Finally, AIM systems can provide valuable insights about the lifecycle of different types of assets. This data can then be used to optimize maintenance schedules and budgeting decisions, leading to improved performance and cost savings for the organization by using the Predictive Spend tools incorporated into AIM.

Maintenance Scheduling Minimizes Costly Downtime

Mend the roof before it rains

Facility managers must ensure that all equipment is maintained regularly, which can prevent unexpected downtime, inconvenience, and lost productivity. It doesn’t matter how well equipment is designed or manufactured; it will start to wear out over time and require maintenance.

The property condition assessment feature built into AIM systems like Data Fleet’s Property Echo can assist in scheduling preventive maintenance-based capturing on actual asset usage, helping to avoid damage, equipment failure, and loss of productivity.

Using an AIM system that incorporates a preventative maintenance feature can also reduce the amount of energy used, as it ensures that equipment is performing efficiently. Additionally, by properly maintaining all building systems and components, facility managers can get an idea of their overall performance level and areas for improvement. This can help in better budgeting decisions for retrofitting, replacement, or repair of existing assets.

Ultimately, AIM systems provide facility managers with the information they need to effectively maintain their equipment and ensure that all assets are running efficiently. By adopting a professional-grade AIM system, facility managers can maximize the value of each asset while ensuring that operations run smoothly, and costs are minimized.

Improved Facility Management

And that’s where Data Fleet’s Property Echo facility asset management software comes in. This revolutionary AIM software platform supports the collection, validation, and storage of information relating to the condition and maintenance of a facility’s individual assets as defined by the user. It is the critical first step in ensuring that accurate data is being logged throughout the asset information management lifecycle.

Property Echo is designed to integrate with different facility software, such as computerized maintenance management system (CMMS), to create a complete view of all assets and facilities under management. As a result, many other facility management tasks can be optimized, including workforce tasks, cleaning and maintenance, security, work orders, and logistics. By having complete and centralized data, facility managers can make more informed decisions that benefit their business—at a single facility or across multiple, nationwide locations.

In summary, asset information management is a critical tool that facility managers can use to optimize their asset portfolio. AIM helps prioritize assets, keep accurate records, supports scheduling maintenance activities, and improve overall facility management. With Data Fleet’s Property Echo platform, facility managers can leverage the full potential of AIM. This powerful yet easy-to-use software enables facility managers to manage their assets more effectively and efficiently. If you’re a facility manager looking for ways to improve your asset management processes, contact Data Fleet to learn more about Property Echo today.

Property Echo: Where Your Assets Live

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