IoT Remote Monitoring, Alarm Filtering, Predictive Maintenance
According to McKinsey and Company1, remote monitoring of business assets can decrease equipment maintenance cost by 40%, reduce asset downtime by up to 50%, and extend equipment life by 3-5%.
Keeping facilities and assets operating at full capacity is critical to meeting your company’s performance objectives. No matter what business you’re in, you must deliver better results – grow revenues, increase customer satisfaction, maintain regulatory compliance – with the constant pressure to reduce operating costs.
Putting managers in the position of guessing which alarms are critical is risky and expensive. In some cases, the cost of service is small in comparison to the total cost of asset downtime. However, the costs associated with unnecessary service calls can add up quickly, and false alarms can make managers hesitant to call for “truck rolls.” In addition, repeated spurious equipment alarms can cause site managers to ignore them, potentially increasing the severity and urgency of future breakdowns.
Keeping facilities and assets operating at full capacity is critical to meeting your company’s performance objectives.
While not every business can expect its site managers to be experts on the operation of every asset in the building, companies can increase revenues, improve operational efficiency and reduce repair and maintenance budgets in ways such as:
- avoiding unnecessary service
- reducing the frequency of replacing consumables such as gaskets and filters
- replacing equipment only when needed rather than at arbitrary, predetermined times
- managing energy consumed by assets and facilities
- reducing the time-to-fix for non-functioning assets by speeding trouble reporting
- decreasing repair time by improving trouble reporting and diagnostics
With Accruent’s vx Observe you don’t need to ask your facility manager to be an expert in these areas. Our IoT remote monitoring solution can bring you all
of these benefits, across facilities, asset classes, brands, and models. Its integration capabilities and interface make vx Observe solution easy to use and quicker to implement than most IoT implementations.
Case Study: Co-operative Group (Co-op)
Strengthening asset monitoring, preventive maintenance, and regulatory compliance for 99.8% asset availability.
vx Observe can improve your asset performance and operations in many ways, including:
- Analyzes equipment alarms in context, and filters out nuisance alarms.
- Initiates action on alarms that require repair or maintenance.
- Normalizes alarms across manufacturers and models to allow for unified workflows within equipment categories.
- Monitors performance patterns, detects anomalies, and predicts equipment failures before they occur.
- Initiates customer-specified actions when risk of failure meets specified threshold.
- Enables asset owners to continuously update and improve rule parameters without expensive consultants.
- Collects meter data to track asset and facility energy consumption
- Analyzes energy data to monitor performance patterns and asset health
- Allows you to remotely control asset to reduce energy consumption and spend
- Integrates with your existing processes to speed response time and improve problem reporting
- Generates automated notifications to site managers or service bureau, or automatically opens CMMS work tickets
- Ability to integrate with nearly all work order management systems
Monitor All Your Mission-critical Equipment In One Place
vx Observe displays the status of equipment alarms, asset performance data, and repair work orders on a single, mobile-friendly interface. Its interface can combine assets from different classes, locations, and manufacturers for convenient and timely visibility.
Green tiles show metrics that are well within specified parameters, yellow tiles indicate that an item should be watched, while red tiles give immediate indication that a particular item is outside of your specified limits. Each person in your organization can configure their dashboard for their own areas of responsibility for at-a-glance visibility into facility and asset performance at any time.
Vx Observe Integrates With Nearly Any Software, Asset, And Device
Unlike proprietary manufacturer systems, Accruent’s vx Observe was built to monitor, collect data, and integrate workflow for nearly any asset class, from elevators, HVAC and lighting, to fuel pumps, balers, compactors, refrigerators, and chillers. In addition, it can gather data from multiple machines by interfacing with data hubs from Dell and other manufacturers. When creating an automated work order, vx Observe can be integrated with Accruent’s vx Maintain or nearly any other CMMS or work order management system. Our mobile-optimized management dashboard can be easily viewed on any personal computer, tablet, or mobile device.
vx Observe automates the identification of equipment problems, reduces nuisance alarms, and reduces service response time to reduce asset downtime, decrease service expenses, and prolong asset life.
1Unlocking the Potential of the Internet of Things, James Manyika et al., McKinsey Global Institute, June 2015