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01.17.2023

Innovative Solution Services With Asset Management and Monitoring

In today’s rapidly changing world, client expectations are influenced by changes in technology, and that includes service objectives. Service solutions and delivery have expanded far beyond “traditional” models of time and material (T&M) rates and automatically sending a service person for every call. Establishing comprehensive asset records, work history and active monitoring of asset telemetry attributes can help us avoid needing to roll a truck as often, saving us and our customers time and money. These are all factors in the need to seamlessly transition to a new age of innovative service delivery.

Over the past 50 years, FTI’s offerings have evolved into a comprehensive suite of solutions that integrate technology and solutions concurrently, breaking down the conventional silos that often exist between IT and facilities departments. Two distinct approaches that FTI employs to combine technology and personalized service offerings are asset management with network capabilities, and asset monitoring.

  • Asset management and networking capabilities is the ability to manage assets and provide secure networks for organizations to monitor asset performance. It’s important to note that this requires strict governance and that change control be in place. Assets can include configurable data such as hardware, firmware, software and other cloud-based attributes. However, not all assets contain configurable data. Static attributes for assets such as inverters, transformers or solar panels may only require make, model and serial number, but can also be tracked and managed using integrated technology and software.
  • Asset monitoring heightens visibility into each asset, allowing a more comprehensive understanding of the complete lifecycle of an asset. The outcome is a seamless communication between systems, along with the ability to monitor real-time business metrics or KPIs (key performance indicators) that can correlate directly to the client’s business objectives and overall service experience. In addition, asset monitoring can provide accurate information on the asset’s name, location and status, which could include asset failure notifications and scheduled preventative maintenance tasks, leading to the ability to make critical decisions on asset changes or recommendations.

Combining asset management and asset monitoring can streamline processes and improve efficiencies by minimizing down time, reducing maintenance costs and increasing safety with regularly scheduled maintenance. In addition, ongoing adjustments can be made to conserve energy, a frequently cited goal for customers.

As technology continues to drive constant change in the way we define and deliver solution services, it’s more important than ever to adapt to this technology journey we are on, capturing and understanding asset data. It begins with in-depth conversations with customers to understand their expectations, sharing the benefits that are associated with asset management and monitoring and most critical of all, identifying the risks of doing nothing.