Every business has critical assets that require financial, contractual and maintenance management to ensure they remain effective and productive. Examples include both tangible and non-tangible items such as buildings and infrastructure, facilities, capital and process equipment, fleet, machinery, IT equipment and software.
To ensure an asset continues to generate revenue or perform revenue generating tasks for a business is vital so deploying a capable asset management system will directly contribute to the longevity and lifetime effectiveness of an asset.
Equipped with a range of modules to streamline various functions and considerations Acumen Asset Management can be tailored to how your operation manages assets using Worksheets:
Opportunity Management and Service Quotes
Streamlining and automating the management of your sales team will maximise time dedicated to profitable functions – the selling. Opportunity management will use factors such as chance of success, potential value and estimated closing date to determine the most profitable sales calls. Sales Managers can then reduce time spent quoting pre-sale and reporting post-sale. Sales cycle can be broken down into stages and to-dos making life easier for sale representatives.
Contract Management
Internal and external agreements are easily managed in the Service Contracts module which can capture SLA’s, maintenance schedules and site and price agreements such as hourly rates, spare part discounts and fixed maintenance prices. Upcoming due dates and renewals for contracts are easily visible enabling you to schedule and prepare.
Maintenance Worksheet
All tasks related to service contracts, maintenance schedules and service items can be presented in a variety of formats. Choose which ever suits your assets best from time factors such as monthly, quarterly or annually; volume counter such as hours operated, Kms driven or litres processed or event based. Planning and scheduling asset maintenance becomes simple and intuitive with service orders created direct from proposals.
Service Order Management
Generating worksheets is the fundamental aspect of asset management and streamlines the preparation and execution of specific tasks. Set up is easy, requiring a date or time plus one or more resources such as people, material or equipment. All associated material, labour, start-up costs as well as chargeable components are invoiced directly from the worksheet. Worksheets can be prepared, edited and generated directly within the system or from web-based interfaces so team members can collaborate and perfect worksheets to maximise efficiencies and value.
Inventory Management
Currently warehouses items can be picked and linked to Worksheets via warehouse transactions to ensure correct posting of stock and automatic adjustment of inventory levels. Warehouse transactions are managed bi-directionally to handle outgoing stock to be used on jobs as well as obsolete or unneeded stock returning from jobs.
Additional Factors
Truly efficient Asset Management includes many additional factors and considerations which can be linked via Worksheets:
Purchase Management – Allocate costs with Material Requirement Planning to calculate inventory, costs, demand, replenishments, lead times etc. enabling manual or automatic Purchase Order generation.
Subcontractors – Treated as a resource, 3rd party involvement is managed through purchase orders to plan, schedule and record work done.
Timesheets – Internal staff resource can allocate expected and actual time to worksheets via Timesheets. Approvals and support can be delivered through mobile interfaces for staff operating in the field.
Expenses – Managed per staff member group or by specific expense types, all expenses can be added to Worksheets and automatically included in invoicing.
Consumption & Billing
Once maintenance or management work is complete on an asset or job, Worksheets will be processed with each line item being marked either as consumption or shipment and invoice. Consumption lines are posted as costs towards the Worksheet whereas shipment and invoice lines become a Service Invoice to customers and will be recognized as revenue.
All Worksheet and job data is then stored to contribute to you company knowledge. Drawing on this will perfect and optimise your approach to asset management moving forward, increasing productivity and revenue while reducing consumption and cost.
Acumen Consulting’s new Asset Management software package delivers significant capabilities in maximising the profitability of your assets. Built on the Microsoft Dynamics 365 Business Central platform this robust and intuitive solution can be tailored, by Acumen, to fit the unique requirements of your organisation and its assets.
