Asset Management is a structured process of decision-making over the acquisition, use, safeguarding and disposal of assets. The aim is to maximise their service delivery potential and while minimising their related risks and costs over their entire life. Indeed, the impact of unmonitored distressed assets can lead to downtime, service delivery issues, non-payment and non-compliance with statutory requirements. More simply, monitoring is crucial in preventing issues affecting assets such as fast Deterioration, operational issues, lack of maintenance when required etc. These hurdles are intrinsic in the definition of asset management which aims to extrapolate the highest level of service potential when delivering services over time, and simultaneously minimise costs & risks. We have therefore developed SAMS in partnership with a domain expert in the asset management field. Our system strives to effectively tackle issues related to lifecycle asset management.
SAMS is a monitoring service which enables clients to monitor, manage and maintain their assets, as well as ensuring compliance. A large number of firms already provide asset advisory & consulting services, however, we believe that without adequate monitoring advisors will only be enabled to provide guidance based on best practice cases rather than actual data points. Our solution harnesses the power of IoT and mobile technology to provide a cost effective service for enterprises to efficiently monitor assets remotely (active assets). The process starts with passive assets registration into a web application. The application will be responsible for information management, the creation of reports and compliance management. In this way advisors will be enabled to identify critical assets, which will then be selected for active monitoring using IoT transducers. In field asset verification will also be made possible via a mobile application. SAMS is the ideal solution for digital (and-non) savvy institutions and enterprises which wish to improve their assets’ efficiency as well as increasing their lifecycle.
The service has so far been mostly implemented at South African municipalities.