Authors:
Katherine Xie - Graduate Engineer – Asset Strategy
Suraj Kishnani - Senior Consultant – Asset Strategy
Asset data exists in abundance in many organisations. It may be stored on a spreadsheet, mentioned in an email, or written down on a piece of paper, and locked away in a drawer in the back room.
Although you have the data, how can it be translated into useful information for your organisation? How can this information be used to derive business intelligence and combined with people’s learned experience, to enhance decision-making? More importantly, how can the right data be collected and used at the right time?
These are the types of questions that challenge organisations when adopting digital asset management solutions. Too often organisations purchase software solutions well before they have articulated what the asset information problem they are trying to solve is and what functionality they require from such a software to satisfy their asset management objectives.
With the rapid growth of emerging technologies, a desire to be more “digital” as well as the growing popularity of digital asset management solutions, organisations are starting to become more aware of the benefits of using an integrated Enterprise Asset Management (EAM) system and its ability to support decision-making through data evidence. However, it is important to note that the establishment and implementation of data information systems require robust frameworks and dedicated programs and resources that may come with its own challenges.
This paper uses a case study from the ports industry to demonstrate some of the processes and strategies undertaken to support an organisation’s asset management journey, as well as highlight some of the experiences, challenges, and learnings from such a transformation program.
