November 5, 2020 By Inder Singh 3 min read

Using IBM Maximo or another asset management solution helps you derive more value from assets by extending their life through reactive, preventive and predictive maintenance. Now imagine if you could track your assets from within IBM Maximo in real time — and know their location, status and condition, right in the moment.

Deloitte, with support from IBM, has developed just that: a new asset tracking solution that’s designed to work seamlessly with the familiar capabilities of IBM Maximo, the interface many asset managers already know. If you haven’t seen the earlier entry in this series that lays out the capabilities and benefits of Deloitte’s new asset tracking solution, it’s worth a detour now. A separate entry goes into more detail about how asset location tracking can help public sector agencies stay on budget and on mission.

Now, track assets all the time, or within a period the user selects for better asset management

Traditionally, assets are tracked only at discrete lifecycle points: at acquisition, during deployment, when malfunctioning, at disposal, etc. Many organizations have used IBM Maximo for years to manage and streamline this information. Deloitte’s new asset tracking capability works with Maximo to track assets all the time, or within a period the user selects, and sends alerts when needed. And with the ability to define custom geofences, asset managers can also have peace of mind that assets are exactly where they’re supposed to be, and receive geofence alerts if they aren’t.

With this new level of specificity and timeliness, everything you already knew and valued about asset management can be amplified and made more powerful. Both public and private organizations can use real-time tracking data in ways that can enhance their asset utilization — for instance, driving decisions to rent out assets that are underutilized or selling unused assets — along with their mission and bottom line.

For example, without real-time asset tracking, a big box retail store might struggle to know the location of its heavy equipment, forklifts, and other rental equipment across different stores. With an asset tracking solution in place, store and regional managers can deploy the equipment where it’s required or rent or lease unused assets to improve utilization. Periodic inspection and counting processes coupled with decommissioning also provide insight into asset usage analysis for future improvements.

Most organizations are increasingly looking at asset performance management (APM) to monitor and predict the health of their critical assets. APM has always run on data, and the value it delivers has always been greater than the sum of the data that go into it. The more data, and the better they interoperate, the more powerful the overall system can be. Now, with real-time asset tracking, there’s a powerful new factor in that value equation. Whether you’re a veteran at asset management or just testing the waters, this new capability can carry you farther today than you could have gone yesterday.

Interested in learning more about this new asset tracking capability? Check out this overview and watch our live demo and discussion.

About Deloitte and IBM

Drawing on a relationship that has spanned more than 20 years, Deloitte and IBM combine technology leadership, hands-on business experience, and industry knowledge to guide our recommendations and challenge the possible. We use these insights to set up the right infrastructure and connect systems so you can bring the promises of digital solutions to life. Together with IBM, we help you deploy and scale enterprise asset management solutions with confidence.

As used in this document, “Deloitte” means Deloitte Consulting LLP, a subsidiary of Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of our legal structure. Certain services may not be available to attest clients under the rules and regulations of public accounting.

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