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by | Jun 15, 2020

How to move up the asset management maturity curve

All around the globe, asset intensive businesses are facing challenges on multiple fronts. Aging workforces, digitization, cloud computing, infrastructure updates, asset replacements, increased customer service demands, health and safety requirements… the list goes on and on. Particularly pertinent right now is Coronavirus which has stopped the globe in its tracks. Unsurprisingly, businesses will have to implement innovative and effective ways to respond appropriately to the ripple effects of Covid-19 and particularly asset management businesses will need to figure out how to move up the asset management maturity curve.

So how does an asset intensive business manage all these challenges, continue to reinvent itself, AND at the same time improve customer satisfaction and service, produce more goods, reduce operating costs, and do more with the same or even less?

The answer lies in its ability to take a quantum leap. Call it a leap of “faith” if you will, but in reality, it doesn’t need much faith at all. A widely accepted belief is that faith is often required when venturing into the unknown. However, this is not a journey into the unknown. It is a journey into the known but doing it in a different way.

The shift towards Cloud-based computing

Traditionally (going back a few years now), software was sold to end users who installed the software on-premise, sometimes in a server room, or even on each PC for each user (remember when MS Excel came on a CD and you had to install it?). Those days are long gone. Today, whilst many companies still have software installed on-premise (and some for good reasons), a lot of that software is now more readily available over the Cloud.

BPD Zenith are experts in the asset management space. We are a top 20 IBM Business Partner globally, and we specialise in the enterprise asset management (EAM) software solution “IBM Maximo”. Note: Maximo is the number one global EAM solution according to Gartner and other independent analysts.

For the past 26 years, BPD Zenith has been supporting clients with their on-premise Maximo solution. However, for the past 7 years or so, we have seen both new and existing clients express interest to be hosted on the Cloud. These clients have made a strategic decision to bypass the previous way of obtaining and managing software and simply “use” the software via the cloud – as if it were just another tool to deliver the outcomes their business needed.

We have noticed, and continue to notice, that a lot of companies on the asset management journey have stagnated. They have not utilised the new and improved technology required to move up the asset management maturity curve. It is almost as if it has become too hard to achieve. A bridge too far, perhaps? Not only does this weaken an organisation’s competitive advantage but it also keeps them from achieving greater levels of efficiency and insights.

Perhaps other priorities have taken precedence. Perhaps businesses do not have the internal champions to drive the necessary change. Perhaps their IT department does not know what to do in this space. Perhaps it is difficult to articulate the ROI. Perhaps they are waiting for a simpler, integrated, easily deployed and well supported solution. In reality, there are many plausible reasons.

Want an integrated, easily deployable and well supported solution? Look no further than MaxiCloud

BPD Zenith started delivering MaxiCloud in 2014. It was originally Maximo in the Cloud with some additional value-add. However, as we have journeyed forward and our clients have led us to develop more and more functionality, the term “MaxiCloud” has taken on a different meaning for us. The term “Maxi” is defined as ‘very large in comparison with others of its kind’ and the term “Cloud” is defined as ‘relating to or doing business on the Internet’. When combined, this means much, much more than simply delivering a basic Maximo system over the Internet. It means delivering a total enterprise asset management solution that can cater for an asset from “cradle to grave”.

BPD Zenith’s MaxiCloud solution is constantly evolving. Clients are seeking more and more value-add, and do not want to be burdened with the time-consuming issue of having to do it all internally (with the challenges that can bring). Our solution assists our clients in obtaining a head start on their asset management journey. We continue to invest in MaxiCloud. Recently, we have added business process mapping software that extends the capability of MaxiCloud.

Each addition to MaxiCloud must meet a defined business need. Ultimately, they are designed with the intent to save clients time and money, remove business risk, and have clear links to the asset management journey. In addition, they need to deliver outstanding value, be easy to use, be Cloud ready, and fit in perfectly with BPD’s MaxiCloud vision.

~ Some of MaxiCloud’s key components ~

Let us help you move up the asset management maturity curve

Our business is committed to seeing you succeed, and one measure of your success is based on improving your asset management outcomes by moving up the asset management maturity curve.

With the latest advances in technology, it is far easier now for clients to move from a simple, preventative maintenance approach all the way up to a performance-based maintenance approach.

Sensored assets can send data about their health to various people in an organisation for immediate action to be undertaken, speeding up the response time, reducing potential asset downtime and service disruptions. Assets equipped with sensors open up a myriad of new possibilities for businesses to improve their processes, reduce costs and improve service. They can reduce catastrophic failures before they occur, and thereby extend the asset lifecycle.

~ Asset maturity curve ~

So how do you do that?

We have recently released our “LoveYourAsset” website, where you can subscribe to asset health monitoring. You do not even need an asset management solution to understand your asset health and how your assets are performing. They just need to be equipped with sensors. See www.loveyourasset.com for more details on how to make this quantum leap.

Finally, if you include MaxiCloud with asset health monitoring, then you have a solution that can take you right to the top of the maturity curve! Our predefined industry solutions (Maximo Accelerators), online business process mapping, additional BPD features and functions, all provide you with an immediate quantum leap over your competitors.

So, what are you waiting for? Take a known leap of faith and start moving towards best in class.

At BPD Zenith, we do things differently – we love your assets!!

Graeme Sharp

Graeme Sharp

With over 20 years of Maximo experience, Graeme is one of the leading evangelists in the Asia-Pacific Asset Management arena. He has presented at IBM InterConnect and Insight, and many Maximo User Groups and industry conferences.

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