Cloud-based prediction modeling software helps local governments and educational institutions optimize capital and maintenance spend, as well as improve long-term capital planning based on ISO 55000 standards
CARY, N.C. (PRWEB) AUGUST 18, 2020
Dude Solutions, the leading software-as-a-service (SaaS) provider of operations management solutions, today announced the addition of a strategic asset management tool, Capital Predictor™, to its connected suite of solutions for local and regional governments and educational institutions. This announcement follows the company's acquisition of Assetic, the leading strategic asset management software and services firm, and addresses the growing need to increase asset longevity and decrease maintenance and renewal costs.
Leveraging data to guide decision-making, strategic asset management is a future-focused lifecycle modeling approach that balances budgets, communities’ services needs and asset condition for sustainable facilities and infrastructure into the future. Industry-specific algorithms accurately predict the future condition and service state of an asset portfolio, and help create powerful visualizations that illustrate how different funding strategies would impact assets and service to inform and align stakeholders across roles.
“Organizations, particularly in the public sector, oversee extensive infrastructure and asset portfolios. And as infrastructure ages and the rate of decay increases, budgets are increasingly under significant pressure. There is rarely enough funding to remedy these concerns all at once, which is why it’s critical to be able to understand how best to prioritize spend and to prove the need for additional resources,” said Jodi McDermott, chief product officer, Dude Solutions. “This new addition to our suite of offerings unlocks a powerful solution for operations leaders seeking to compare how various funding scenarios will impact assets in the future, obtain stakeholder buy-in and justify funding requirements.”
Capital Predictor empowers organizations to accurately model the health and service of their assets over a period of five to 100+ years with condition-based lifecycle degradation profiles. This methodology supports the transition from traditional budget-driven decision-making to a data-driven approach that balances community needs, funding requirements and asset health while optimizing short-term capital and maintenance spend. An organization’s chief financial officer can now look beyond the operational three year horizon and into the next 10 to 20 years in accordance with the recommendation from the Institute of Asset Management and Government Finance Officers Association.
“Strategic asset management is the discipline of aligning finance and engineering with the systems and data to improve our communities’ infrastructure in the long term,” said Ashay Prabhu, vice president of strategic asset management at Dude Solutions and Assetic co-founder. “We designed Capital Predictor to help decision makers visualize and strategize into the future in order to efficiently deploy resources at the right time, maintain regulatory compliance and spend precious funding prudently while maintaining appropriate asset service levels.”
Assetic was founded in 2006 in Australia, a country known for its leadership in strategic asset management, and the company has contributed to the development of standards for managing public infrastructure, including ISO 55000 for asset management. By combining Assetic’s expertise with Dude Solutions’ comprehensive and connected suite of operations management software, the company is well positioned to support the growing demand for strategic asset management in the United States and throughout the world.