Introduction

Enterprise Asset Management (EAM) software tools have been used since the 1990s to meet the need to establish robust management processes for the ever-increasing number of organizations’ assets. Over time they have evolved with the goal of extending the life of assets, reducing the number of emergency repairs that lead to unanticipated business interruptions, and making better use of business personnel’s time searching for condition data, location, use and maintenance of these elements.

Today, the Internet of Things (IoT) further expands the capabilities of EAM tools. Data that was previously sorted manually now comes directly from sensors and connected smart devices enable increased automation. In addition, intelligent AI & Machine Learning (AI/ML) algorithms create possibilities for optimal exploitation of our assets: The combination of mobile work, automated workflow management, IoT and Predictive Maintenance and management, gives businesses an unprecedented insight into the performance of their assets. This is only possible with the power of modern EAM systems, which combine these transformative technologies.

Object of the Smart Asset Management (SAM) project

SAM is a collaborative project between the companies Yodiwo and NousPratIT that aims to upgrade an EAM system by combining it with an IoT platform of Integrated Workplace Management System (IWMS). The IWMS system will feed the EAM software with real-time data as well as historical data derived from the combined analysis, using AI/ML and Data Analytics, of information from various third-party systems (ERPs, Internet services).

The IWMS will provide the possibility of additional reports to the EAM, related to energy efficiency, the reporting of problems from sensor networks acting on electromechanical installations, the spatial exploitation of the buildings it serves (e.g. office environment), the economic commercial space performance (e.g. store area performance based on foot traffic and sales volume).

NousPratIT ‘s EAM manages complex preventive maintenance work plans for all assets, the assignment of scheduled and emergency tasks to internal or external technicians, as well as rules of thumb for automated alerts for connected devices through the use of sensors, types of measurements on each piece of equipment equipment being monitored.

The solution enables the technical people in the field to monitor in a simple and easy-to-use way and perform the tasks assigned to them through a mobile application.

The integration of the two systems

• will create a one-of-a-kind solution that will be the tool for drawing up the “Environmental, Social, Governance” (ESG) strategy of the companies that enjoy its benefits. In the post-COVID-19 era, companies that will improve their operations to contribute to:

a.      to limit the emission of CO2 and other polluting gases and particles (Environmental),

b.      in the improvement of the working conditions of their people as well as the standard of living part of society that they influence with their actions (Social) and

c.       the quality and transparency of Corporate Governance procedures,

• optimizes asset efficiency,
• enables businesses to remain agile, which is critical to meeting the ever-changing business challenges that are part of doing business in a digital economy.