AssetFuture’s mobile app AssetContinuity is the force and frontline streamlining Condition Assessment Reports.
Asset continuity is a 🐝 buzzword that comes up frequently in the asset management industry. It refers to the operation of assets throughout their lifecycle, from initial design and construction to maintenance and eventual decommissioning. It incorporates strategies and practices to ensure the sustained functionality, performance, and value of assets over time, such as proactive and predictive maintenance and risk management.
For example, consider the example of maintaining a school or university campus. Routine maintenance might involve routine inspections of building structures, ensuring foundations remain solid and roofs don’t leak.
Risk management could involve conducting fire drills and keeping fire extinguishing systems up to date. Lifecycle forecasting might involve identifying when an electrical system might need a general service or upgrade, enabling proactive maintenance by fixing it before any failure or outage occurs. Capital planning involves setting aside funds for these renovations and potential emergencies.
AssetFuture’s mobile application AssetContinuity makes collecting and updating asset data easy. It enables fast and consistent data collection, from image capture to condition and defect assessments. It can also be used to carry out functional fit-for-purpose studies.
AssetContinuity has multiple benefits:
Minimising disruption: because assets are well-maintained with maintenance taking place before problems happen, there are fewer breakdowns, downtime, or after-hours calls. Assets remain operational and available, avoiding the cost of outages and more complicated repairs. Safety for occupants and asset users is also enhanced.
Cost efficiencies: asset continuity strategies contribute to optimised expenditure over the asset's lifecycle. By anticipating the costs associated with asset maintenance and replacement, organisations can more effectively carry out accurate financial planning and allocate appropriate resources.
Greater sustainability: by extending the serviceable life of assets and reducing the need for premature replacements, organisations can mitigate their environmental impact. For the built environment, where the construction and disposal of assets has significant environmental implications, this is particularly important.
Easier compliance: regulatory requirements on asset managers are continually increasing. Asset continuity helps mitigate risk and ensure that assets are kept in a condition that meets and exceeds requirements. The documentation involved in asset continuity also serves as evidence of compliance during audits and inspections, helping businesses demonstrate that they have followed procedures and taken any necessary corrective actions.
Long-term value creation: well-maintained assets retain their functionality, attractiveness, and marketability, which ensures their continued relevance and ability to generate returns. Assets can more easily be adapted to market trends and upgraded with new features and technologies, helping them remain competitive.
👍 AssetContinuity is a user-friendly iPad application that enables condition assessment teams to conveniently update their data in the field, regardless of location or time. It offers the flexibility to work on the go and eliminates the need to be sat in front of a computer to manage your assets.
To enable asset continuity, you typically need to bring together data and intelligence from all stages of an asset’s life. Traditionally, the asset management industry has an issue where assets pass through stages of the lifecycle, but the data associated with that asset does not, hence the creation AssetContinuity.
If you’d like to know more about how AssetContinuity can help you manage and understand your portfolio more effectively, our team of asset management specialists is here to help.
Feel free to get in touch and find out how the right data and asset intelligence platform can future-proof your assets.
Request a demo and start your journey today! 🚀