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The Benefits of a Shared, Centralized Asset Database [Part 2]: For Asset Owners

POSTED BY: Ashley Little on 05.16.2017

shutterstock_266864045.jpgSorting through paper records, emails, or asset records spread across several different spreadsheets or databases is no longer feasible for a best practice. Trying to keep track of maintenance needs, work requests (such as pole transfers), joint use billings, make-ready requirements, and attachment requests is taking up too much time and too many resources. Many asset owners, as well as attachers, are struggling to keep up.

Requests to deploy equipment from new attachers will keep growing as broadband and new technologies continue to rapidly expand.

Some companies have created departments to manage joint use assets. However, other organizations simply do not have the resources nor the budget to hire full-time staff. Everyone can benefit from a more efficient, streamlined solution to ease asset data management tasks.

One solution is to establish a single system of record-- a shared, centralized asset database -- that will provide asset owners with a unified view of field assets, deliver the right data to each user in the context of his or her job, and securely share certain data with attachers, third-party contractors, and other key stakeholders.

A Single System of Record for Asset Management
When data regarding assets, attachments, contracts, invoices, and any other activities that occur with the assets are consolidated in one place, then owners have the power to improve efficiencies and maximize revenue. A central asset database consolidates comprehensive asset management information, including (but not at all limited to):

  • Attachment permitting requests
  • Pole construction work management
  • Pole replacements
  • Corrections
  • Make-ready work
  • Field inspection data
  • Pole transfer requests
  • Detach notices
  • Pole removals
  • Pole installation
  • Billing records

This type of system can also interface with other critical business applications such as GIS, work management systems (WMS), accounting, and tax systems.

Improve Life as an Asset Owner
A shared, centralized asset database gives asset owners the power to share ONLY the data they choose with attachers, third-party contractors, and within the organization. This keeps confidential data secure while streamlining necessary communications and coordination.

Owners can communicate with individual companies or contacts, or send messages to larger groups, so each attaching company is properly informed of everything going on with any specific asset. For example, if all of the existing poles along a specific route need to be replaced, the owner can issue transfer requests to all of the attachers on those poles with a single notification, completely managing the work from initial request to completion. Owners also have visibility to what has been completed and what has not.

Create Workflows to Automate Processes
Automated workflows can be created to enforce your company’s policies and requirements so that asset records are consistent. This ensures everyone on the pole (or in the underground vaults or manholes), including the asset owner, is up to speed on exactly what needs to be done at any given time.

One example regarding pole transfers, automatic timed reminders can go out to attachers individually, as a whole, or to only certain people in a specific group. You can easily notify attachers about transfers and exactly when it should be completed, then send periodic notices to those who have not yet transferred, gradually escalating in urgency until action is taken. Automated alerts keep you apprised of everyone's compliance on the pole transfer.

Historical Records
A central asset database can also house an audit log that allows owners and attachers to easily view status and historical data for all assets, associated contracts, notes, and photos.

With an efficient and effective asset management system in place, many asset owners are able to develop strategies to create new revenue streams.

Learn more about how this works here: “Your Guide to Profitable and Efficient Infrastructure Asset Management.”

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Topics: Asset Data Management Infrastructure Asset Management