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Published: Jul 03 2018

Using IoT Remote Monitoring to Increase Efficiency & Reduce Costs by Eliminating Alarm Noise

Monitoring and managing assets and facilities across multiple sites and regions is challenging.

These assets are critical for your day-to-day operations and serving your customers. As organizational demands evolve, the systems that monitor and manage assets must evolve as well to avoid inefficient and costly faulty alarms. To perform at a best-in-class level, businesses must manage asset alarms effectively and perform predictive maintenance with accuracy.

The information collected from asset alarms is important for early detection of troubled assets, performing predictive equipment analytics, and insight into root-cause analysis. However, it’s not realistic to expect an individual or team to manage hundreds of thousands of alarms dispersed across their portfolio without access to the people, process and technology that can help filter and vet the validity of the alarms. Without a vetted technology solution, alarms are a high cost for an organization – especially if deemed invalid. Between the staff, time spent investigating the alarms and possible false truck rolls, your maintenance budgets could be affected greatly.

How Many Asset Alarms Need Human Intervention?

In 2017, Accruent received over 10 million asset alarms in a span of 30 days. Only 1.3% required human intervention and only 0.3% required a work order. That means that roughly 98% of the other alarms were determined to be invalid, redundant, or could be reset and left alone. The organizations that utilize advanced alarm filtering and grouping through customized rule sets can focus only on asset alarms that are critical to their business and act on them; saving emergency fees, unnecessary truck rolls, and staff time. Utilizing a remote monitoring solution can help you achieve these results.

How Many Asset Alarm Notifications Are Ignored?

When organizations don’t implement remote monitoring and predictive equipment analytics, they end up using money out of their maintenance budgets. They send out unnecessary technicians, order redundant work orders, and spend time further analyzing what could possibly be wrong with a critical asset. Most of the time, organizations that experience frequent asset alarm notifications learn to ignore them or miss them entirely – either reaction can result in potentially huge and costly risks.

An efficient, 24/7/365 performance for asset alarm management is paramount, not just for disaster preparedness, but for successful operations in general. Using an asset alarm with technology like Accruent is a more efficient process for the facility management department as it allows them to take action only when necessary and to focus on high-return activities.

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Learn how IoT remote monitoring can eliminate alarm noise, contact us today!

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