5 Great Reasons You Need To Stop Using Excel for Your Asset Management and Facilities Operations
Error-prone and disjointed spreadsheets are still pervasive in facility management. In a recent study, 43.9% of facility managers and building owners said they still use spreadsheets to track their assets. So it's no surprise that another study found that nearly 40% of employees felt asset visibility was their company's biggest challenge - with 25% saying it was the most significant risk to their organization.
Whether it's because of spreadsheets or inefficient software, asset visibility gaps leave an organization vulnerable to disruption of services, disappointed customers, and lost revenues.
MCIM exists to eliminate these gaps and inefficiencies by offering a unified operating system for asset management. With MCIM's single source of truth for your complete portfolio, companies can get immediate insights that'll change how you do business.
Here are five reasons why an operating system like MCIM is more effective for your asset management than Excel/Spreadsheets or other inefficient platforms:
1. Real-Time Centralized Data
A proper asset management system creates a single source of truth that covers all of an organization's assets, providing greater insight to make informed decisions about maintenance planning, asset lifecycle, and capital planning.
For each physical asset, a registrar can record:
Date of purchase
Access to scans of usage manuals, warranty information, and historical paper records
Unique ID number
Useful life and remaining useful life
2. Access Your Data Anytime From the Cloud and on Mobile
Having a cloud-based asset management system gives your company the flexibility of having access to your entire portfolio from anywhere, any time. By eliminating spreadsheets that are susceptible to errors and slow to collect, you can utilize a single platform to provide real-time insights. Users can even use mobile devices to view, update, and add to an asset listing off-site – including rounds.
3. Maintenance Planning
A good maintenance plan can help reduce downtime, minimize repair and breakdown costs, and prolong the life expectancy of your assets.
By having more visibility in asset utilization and how often an asset breaks down, you can make better decisions on proactive maintenance, improving asset lifecycle and saving both time and money. In addition, an EAM can help prioritize maintenance using predictive analytics instead of a time-based approach, allowing you to focus proactively on what needs attention.
4. Be Audit and Compliance Ready
With the right asset tracking solution, you can put requirements into your system from the start to ensure you're currently meeting both internal and external compliance requirements. This can save you time reporting and ensure your assets are running at peak efficiency.
5. Forecast Spending and Budgets
Having a complete history of each asset and a total view of your portfolio, you can prioritize efforts and budgets to address issues before they become a crisis. And having a detailed spend analysis will help you make purchasing decisions based on real-world conditions. Proactively keeping your company up with changing technology will save you money and headaches.
Upgrade the way you do Facility Management
With the right operating system to manage your assets, your business can see immediate savings and deliver better services on day one. MCIM makes replacing spreadsheets or limited software easy, with a proven transition and migration plan that ensures every asset only has clean data. The immediate results are huge, with most companies who use MCIM seeing an ROI realized within their first year of use.
Request a demo today to see how MCIM can help transform your business.
MCIM (Mission Critical Information Management) by Fulcrum Collaborations is a leading provider of platform technology supporting the operations and analytics of global critical and real estate portfolios. MCIM rethinks and simplifies the traditional technology ecosystem into a reliable and highly connected operating platform. Trusted by 8 of the top 10 global banks, 3 of the top 4 global colocation providers, global media, technology, professional sports, and other industries on all seven continents, MCIM is reshaping traditional technology deployment for the betterment of operators and leadership. To request a demo, visit https://www.mcim24x7.com/request-a-demo or email firstname.lastname@example.org.