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Platform Features

Platform features

• Asset Management
  Manage lifecycle and plan Capex
• Contractor Management
  Planning oversight & budget control
• Property Maintenance
  Stay organised & compliant
• Quoted Works
  Get a quote & book the work - fast
• Reactive Maintenance
  Automated, fast and efficient
• Planned Maintenance
  Increase reliability & decrease downtime
• Parts Ordering
  Painless parts ordering on any device
• Cost Control
  Streamline payments & control your

expansive CAFM

• CAFM Overview
  What makes expansive different
• expansive AI
  Designed by FM teams for FM teams
• expansive Insights
  A data-driven FM strategy at your fingertips

Get ready for FM digital transformation

Here’s how you choose the right CAFM

The FM's Guide to Strategic Asset Management

Introduction

What do you know about the location and condition of the assets in your business?

What about those fryers, coffee machines and refrigerators you paid so much for? Or the POS units, computers and other tech that your customers and workers rely on? Or how about the safety-critical fire extinguishers and smoke alarms spread across your estate?

Are they all accounted for, fit for purpose and compliant?

Across your real estate, there are thousands of assets your business depends on to deliver services, maintain productivity and keep workers and visitors safe. And they all cost you money to manage, maintain and insure.

But research says that most businesses do not have centralized control over their assets:

A lack of digital oversight and control in your asset management may be threatening compliance, wasting money and preventing accurate Capex planning.

This guide will show you why and how your business needs to urgently plug asset data and process gaps - and start managing your assets strategically.

The need for Asset Control

The pressure is on for many companies to take control of their assets to save money and improve their compliance capabilities.

Public sector companies who are coming to the end of long-term PFI contracts are often searching for a new level of asset control to ensure they have more visibility over costs and contractors in any of their future relationships.

Private companies who are feeling the effect of more compliance demands and tighter budgets also need to increase visibility, with many wishing to escape the grip of inflexible TFM models.

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Are your assets losing you money?

As FM budgets tighten, compliance gets tougher, and ESG requirements ramp up - the gaps in your asset data and control may become more and more obvious.

But the cost to your bottom line may still be difficult to quantify.

Wasted; the uncounted cost of unmanaged assets

Non-compliance

• Without central control over assets and their compliance status - audits can be unpredictable.

Downtime

• Poorly maintained assets are likely to fail persistently and unpredictably. The cost to your business from repeat and avoidable episodes of downtime may be draining your maintenance budget.

Underusing assets

• If you don’t know what assets you own and how they are being used, you can’t optimise or redeploy them for new projects or to furnish new spaces. You may be wasting money on buying new assets you don’t need.

Ghost and zombie assets

• Without systematic record keeping you may not know when assets have been disposed, been moved or are now used for other purposes. You may be paying to insure assets that no longer exist!

Servicing warranty

• Without the right documentation, properly stored and easily available, you may be paying for servicing and repair of equipment that’s still under warranty.

Budget overspend

• When you can’t manage PPM effectively or model future maintenance and replacement needs, you can be caught out by urgent repair and replacement bills you haven’t budgeted for.

Over-maintenance

• Not every asset needs the same level of attention. How much are you spending on servicing assets when it simply isn’t necessary?

Under-maintenance

• Insufficient maintenance may lead to persistent breakdowns.

ESG control

• You may not realise when assets are performing inefficiently, nor be able to manage effective disposal and replacement to meet your environmental goals.

A lack of asset management capabilities could be costing your business tens of thousands of pounds every year - without you ever fully understanding why and how.

Why you need strategic asset management

Asset management is more than ‘doing things to assets - it is about using assets to deliver value and achieve your organisation’s business objectives.’

Unmanaged assets can be unpredictable and prone to failure, but assets that are maintained systematically and in a targeted way can support the performance of your whole business.

Meet the IAM and Asset Management standard: ISO 55000:2014

What is strategic asset management?

But every business can learn from the principles of the standard.

The IAM are clear that you can’t do this without integrating operational and financial asset data - or by managing different assets and their budgets in isolation.

It’s time to open up the line of sight!

To open up this line of sight - you need an asset register that’s accessible and dynamic, fully integrated with a CAFM system that controls your reporting, process and strategy.

What is an asset register?

An asset register is a list of all the equipment that your business currently owns. It can be put together as part of a survey in which your FM team walks your sites, recording the status and location of all your fixed assets as they go.

What does a digital asset register need to record?

What’s your Total Cost of Ownership?

Why Excel is not enough for strategic asset management

What does great asset management software look like?

It should be easy to set up your digital asset register.

It should be easy to maintain and update records of your assets

Choosing the right asset management software can be a long and difficult process.

Businesses urgently need to migrate from Excel spreadsheets but may be intimidated by heavy-duty asset management platforms that require months of planning, integration and internal training to adopt.