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The Future of Asset Essentials: 7 Things You Need to Know

Zach Kunkel
  • Jun 23, 2021
  • 6 minutes

Here at Dude Solutions, we recently wrapped up our annual user conference, Dude University. It is always an engaging and insightful time with our clients – especially this year with 80+ sessions (1/3 of those client-led) and over 1,200 attendees gathering virtually.

At each Dude University, we take the chance to give our clients a peek behind the curtain on some of our products and share where we will be taking them in the future. As you might expect, these are some of our most attended and exciting presentations. We love these classes as it gives us a chance to talk about the future of our products and the intersection of a few things:

  1. The product ideas and business problems we’ve heard from you, our clients
  2. Market trends and changes we are seeing
  3. New technologies we can take advantage of 

Below are some of the key takeaways from a presentation hitting on the future of Asset Essentials.

Note: All items below are initiatives that our product team is currently researching. However, this does not guarantee that it will end up within the product or on the technology roadmap.

The Future of Asset Essentials™

Asset Essentials is cloud-based work and asset management platform designed to empower operations managers to do their job like never before. By using our platform, you can reduce maintenance costs, improve productivity, extend the lifecycle of your assets and make data-driven decisions, all from one centralized place. 

These were some key items below that were mentioned in the presentation:

1. Diving deeper into inventory management

 Although there is functionality within Asset Essentials to help our clients manage work order parts and POs, we are continuing to build here to help alleviate your challenges. The goal is to empower you to better manage your inventory by reducing consumption costs, avoiding stockouts, keep track of usage and lowering overhead costs.

In the future, we are looking to help you better understand your inventory and maintenance data by helping you easily see what items you are using the most, what items are just sitting on the shelves and then start helping you predict if there are certain times that item usage is increased maybe due to seasonality. This will also help you predict when and how many items to order based on previous lead times and costs.

2. Connecting Asset Essentials and Energy Manager™

As an asset, building, facility or operations director, your main task is to keep your facilities safe and operational and accomplishing it at as little cost as possible. 

The fact is that the challenge of doing so "at as little cost as possible" has become more and more important this year. ENERGY STAR® estimates that 30% of utility use within organizations is waste. That stat alone tells us that your utility data is a goldmine for uncovering operational efficiency opportunities. 

Dude Solutions already has an awesome product called Energy Manager to help organizations manage their utilities. We are beginning to work on integrating workflows between these products and datasets so that you can readily answer questions like: 

  • How does my PM program impact my utility cost? 
  • Do maintenance needs correlate with energy spikes? 
  • Do I repair or replace this piece of equipment based on utility spikes?

3. Updates to the reporting experience

Data is an essential element to your organization. Reports help you tell a story through data – they're your wing person in board meetings when you're presenting your case to ask for more money or if you're in need of more resources. 

Asset Essentials contains over 100 preconfigured reports and dashboards, but we realize that every organization is different. Which is why we are constantly striving to provide more flexibility and configurability. 

We have begun work around providing an easier self-service and configurable way for clients to create their own reports and have a centralized location for your reporting needs. This will elevate your efficiency and help you leverage the data to prepare for the future. The whole goal is to provide the ability to build the reports you need, easily. 

4. Forecasting asset needs 

We know that our clients are constantly having to make decisions to improve their operations and sometimes struggle with knowing what the best decision is because of lack of data. In fact, oftentimes it can feel like your organization is asking you to see the future. 

Dude Solutions is working on what we are calling our Asset Risk and Health Score, a data-driven assessment that helps you confidently budget time and resources towards your most important assets. This will help you assess the "now" while also helping you plan for the future.

5. Universal login

The majority of you have or have had a Gmail account. If you have, you know that you can log into your Gmail and then you are able to switch to Google Drive or Google Sheets and you remain logged in. We have heard feedback from clients that they would like the same experience within our Dude Solutions products.

With our universal login, you will have a seamless experience as you utilize other Dude Solutions products which will help boost your efficiency. Login and then seamlessly navigate between the products you own and have access to.

For example, let's say you have Asset Essentials and Energy Manager. You would now be able to login through one screen and easily transition between those products while staying logged in.

6. Internet of things (IoT)

It has been said that IoT is the next IT. And we agree. 

With millions of disparate devices and smart machines, it is the new frontier for the operations management industry. And we want to ensure operations professionals have a strategic partner who can help them navigate and take advantage of it.

As we continue to build upon our IoT platform, we will continue to look at complex problems that connectivity and real-time data might help solve – like maximizing equipment uptime, decreasing unplanned downtime and optimizing planned maintenance costs.

We believe that IoT is foundational in building smart cities of the future, taking manufacturers into Industry 4.0, further connecting classrooms and smart buildings, and enabling healthcare professionals to improve patient experiences.

7. Strategic asset management (SAM)

Local governments and educational institutions oversee an extensive infrastructure and facility asset portfolio. The emerging trend worldwide is that as infrastructure ages, and the rate of decay increases, funding levels will be under more significant pressure than ever before. Most municipalities and educational institutions are struggling with this aging infrastructure and have a shortage of resources for communities to do it all at once. They need a way to compare multiple funding scenarios to determine how these scenarios will impact assets in the future.

Enter strategic asset management: a methodology to visually model and simulate capital plans against budget scenarios to strategize into the future and ultimately improving asset outcomes. 

There isn’t a one-size-fits-all formula or platform to help organizations better manage and improve the state of their infrastructure, which is why we developed Capital Predictor™ Enterprise and Capital Predictor Core. Industry-specific algorithms and condition-based degradation profiles are tailored to your organization and leverage your data to visualize decades into the future.

Get key takeaways from other Virtual Dude University sessions by exploring our blog.

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