Emerging Technology for Effective Asset Management

Reducing operational costs and optimising efficiency are key objectives faced by maintenance managers responsible for managing the assets of an organisation.

Many businesses will have implemented a CMMS (Computerised Maintenance Management Software) solution to streamline asset management, in order to meet corporate goals.  (Read More)

CMMS software manages the complex data associated with each individual asset. It allows maintenance managers to schedule and automate maintenance jobs, highlight the most cost-effective method of maintaining an asset and link equipment with components for maintenance and refurbishment purposes. Recent developments in web and mobile technology have further extended the capabilities of CMMS software in tracking and monitoring equipment, supporting effective asset management.

Handheld CMMS technology has revolutionised the work of the maintenance engineer, saving time, improving efficiency and providing instant access to asset information. Instead of using paper-based documentation to manage jobs, maintenance engineers can now carry a tablet computer, such as an iPad, or a smart phone which provides instant access to work orders, listed by locations, asset, priority, status or date. This allows managers and clients to gain real-time job updates and engineers to receive emergency job information on the spot.

The current trend of BYOD (Bring Your Own Device) has further accelerated the use of handheld technology. Via BYOD strategies, employees are actively encouraged to use their own mobile device in the workplace to access corporate applications and information which are stored in the Cloud, allowing them to perform their job roles effectively, using hardware that is already familiar to them.

Mobile technology is also being increasingly utilised to support the condition-based monitoring of equipment. Asset data is collected on a handheld device by operatives, which is then analysed to determine predictive maintenance strategies.

Barcodes and RFID (Radio-frequency identification) tags, used to identify, track and secure equipment, can be scanned by a mobile device to read asset data and upload information into the centralised CMMS database, in order to streamline asset inspections and reduce errors.

QR codes, a new matrix barcode technology widely used in the consumer market; is being increasingly adopted in the maintenance sector, because it is low cost, offers fast readability and better storage capacity.  QR codes can be implemented to attach to, track and manage asset data, providing in-depth insight into an asset’s performance and history. QR codes can also be used for labelling rooms, which enables mobile operatives to scan their location and receive context sensitive options, such as jobs or asset inventory for the location and details of previous operatives’ visits.

Building Information Modelling (BIM), provides a virtual model of a building or facility, which links the precise location of assets with verified “as built” information from manufacturers, suppliers, installers and consultants, enabling streamlined decision making for purchasing, maintaining and replacing assets by having a single initial source of building information.

Technology can manage the whole asset management process from the initial asset discovery and condition monitoring on handheld devices, to tracking the asset’s movements, managing its condition, establishing true operating costs and enabling optimal life strategies to be implemented. Importantly it also allows for better auditability and transparency of an organisation’s asset base.

Service Works has published a guide examining best practice in asset management and explores the role of technology in achieving pro-active asset management.

To receive a complimentary copy of ‘Guide to Effective Asset Management for Buildings & Equipment’, please email This email address is being protected from spambots. You need JavaScript enabled to view it. or call +44 (0)208 877 4080.