Building Asset Management Trends

Keeping equipment and assets running properly, it’s important to get ahead of the maintenance curve. Being proactive and relevant when it comes to trends in the building asset management system industry means knowing the biggest challenges and how to resolve them. With all the unknowns in the last couple of years, the asset management industry has been relatively lucky with the ability to carry on business. The industry is growing in line with inflation with a forecast of 8.7% from 2020 to 2026.

The shift from traditional paper systems towards modern CMMS building asset management system is helping drive industry growth. With the need for virtual and remote solutions due to the pandemic, advanced technologies such as cloud-based systems are helping businesses overcome today’s challenges while showcasing new opportunities for the future.

What to look for in a building asset management system

  1. Mobile CMMS
    While not a new trend, mobile tools are quickly becoming the industry norm as businesses are recognizing the value. Combine that with the availability of cost-effective mobile devices and a workforce that is well-versed in its usage. Now companies can deliver real-time data straight from the source. We have designed the GoMAX! app that is available for iPhones and iPads as well as Android devices, learn about the available features.
  2. Preventative Maintenance Focus
    The need to be proactive as opposed to reactive has become forefront in the industry to reduce unplanned downtime, increase asset lifespans, lower costs, increase safety and most importantly increase efficiency with insights available through CMMS building asset management system. Maxpanda’s preventative maintenance program is saturated with phenomenal features and benefits.
  3. Increased Digital Inspections
    More and more organizations have multiple levels of compliance and regulatory requirements. The ability to complete, file and store equipment and asset inspections will provide huge time savings, less paperwork, real-time updates and digital sign-offs for accountability.
  4. Cloud-Based Solutions
    In today’s world, the need for any time anywhere has become imperative for businesses to operate efficiently. Without the need for on-site software, companies only have to deal with smaller monthly expenses as opposed to large capital expenditures and ongoing maintenance. Security and redundancy are required features of any high-level CMMS building asset management system, most can integrate with your enterprise systems and you won’t need to deal with dedicated IT personnel.
  5. AI (Artificial Intelligence)
    Adding AI to the CMMS building asset management system solution helps teams work smarter, not harder by automating repetitive jobs and maintenance planning, allowing you to focus on value-added activities. It can identify maintenance requirements, prioritize and adjust schedules to ensure the right person is assigned to the right task.

If the last couple of years has taught us anything, it’s time to become fluid, adaptable, innovative and focused on customer-centric business practices for all building asset management processes using a system like Maxpanda. As our world changes daily, businesses have to be able to adjust on the fly and provide the required information in a timely fashion with a focus on reducing costs, downtime and increasing efficiencies.

If you’re ready to move forward in your building asset management system, book a free Maxpanda CMMS demo.