As a capital asset manager, you are responsible for your organization’s largest and most important resources. But because of the scale of these assets, it’s easy to get overwhelmed and feel buried under a mountain of data and project requests.
Using 4tell’s cloud-based platform, you can easily manage, maintain, and most importantly, understand all of the data for your asset conditions. From there, you can look to your planning horizon and choose projects that fit your budget.
With accurate and current asset data, your team can organize, plan and find success together. And as a strategic leader in your organization, you are empowered to use your newfound data to assess, adjust and act with confidence.
Let’s dive deeper.
How to Make Asset Data Work for You
Create a Single Source of Truth
- Shared Understanding
4tell is the one place where you and your team can easily view, manage, and update asset conditions. Instead of painstakingly navigating data buried in redundant systems or spreadsheets, 4tell’s platform offers accuracy and transparency. Everyone can log in and see the exact same data, offering a common language and consistent information, whether its today’s project close-out or the most recent campus-wide HVAC replacements. Managers at every level are now empowered to make educated decisions based on data that is correct and current.
- Cost-Effective Action
With the most accurate recent data, you can better manage your assets and keep your buildings operational by planning preventative maintenance and extending the remaining useful life of your systems. Relying on the “band-aid” method—addressing issues only as they come up—is impractical and unsustainable. 4tell gives you the opportunity be proactive and stay on top of conditions, so you can step in before they become a problem.
You’re probably thinking… But sometimes issues come up and there’s nothing that could have been done. We get it—check out how 4tell helps you recover from emergency situations.
Concerned about adding another software program into your workflow? 4tell helps you synchronize all asset information by automatically sharing data updates entered across your CPMS, CMMS, IWMS, ERP and other systems you may use. 4tell becomes your system of record for all your buildings’ assets, giving you insights into your entire portfolio in one place without duplicating efforts.
But we have the opposite issue. We have no data to input into the system. How do we get started? Even if you don’t have all your systems’ data on hand, all the 4tell platform needs is a few key pieces of information and the system fills in an example model for you based on historical data from buildings of the same type, size and use.
Optimize and Strategize for Better Results
- The Right Projects at the Right Time
With 4tell’s extensive management capabilities and workflow support tools, you have the power to manage ongoing asset performance and keep your goals on track. Then, you can use clearly-defined analytics to determine which projects best serve the strategic direction of your organization. It allows you to group action items into projects that align with available funding and organizational goals. And because the platform is your single source of truth, you can make these decisions based on the latest and most accurate data available.
- Priority Management
With your strategic goals in mind, you can use 4tell to set certain parameters in the platform, weighing the importance of factors such as safety, sustainability, type of asset or its use. 4tell then creates a facility priority index (FPI) to keep up with your dynamic information. And since asset conditions are always changing, your data and priorities will too. Your FPI will adjust and reprioritize projects based on asset events, such as updates, new systems, changes in government regulations and more.
But what about unanticipated events? We understand disasters happen. If there’s a fire (real or figurative) and you incur an unexpected expense, 4tell can use this same process to help you reprioritize and reallocate funds as needed.
- 4tell’s capabilities go well beyond managing data—they help you plan for one year, five years and 10 years out. You have the opportunity to leverage your data to calculate scenarios and experiment with how certain expenses will affect your budget. Your decision-making becomes that much easier, both for the everyday and for your planning horizon.
Improve the Capital Planning Process
- Consolidated Requests
Replacing and maintaining capital assets means juggling constant budget requests from stakeholders. With 4tell, each stakeholder submits their requests based on the data within the 4tell system—your organization’s single source of truth—instead of relying on disparate data from conflicting sources. This, in turn, makes capital planning a breeze!
- Collaborative Planning
Capital planning is a huge undertaking that brings together departments from all across the organization. Backed by analytics from 4tell, you can now reach across departments and lead the way toward actionable and well-informed capital projects. 4tell can take everyone’s goals into account—financial, energy, environmental, social and sustainability—helping you plan together to craft a solid capital investment strategy.
4tell Solutions is a powerful tool that helps manage your asset data to make informed capital planning decisions. If you’re ready to try an easy, impactful solution, contact us today.