Are Your Asset Management Services Competitive? Knowing These 5 Questions will Set You Apart.

Upgrading your asset management plans and what to know.

Back to blog home

December 22, 2020 | Allison Keir

Aging water and wastewater infrastructures are rapidly deteriorating in most cities, accelerating the need for water utilities to upgrade their asset management plans. This is where engineering firms come into play and the field begins to widen for water utilities to turn to you to for support and consultation.

To remain competitive in the current climate, engineering and consulting firms have to consistently reevaluate and improve their asset management practices. Therefore, in order to earn and maintain business from water and wastewater utilities you want to stand-out among the competition, by offering cutting-edge software that will result in best-in-class asset management services.

Here are five questions that can help engineering firms offer top quality asset management engineering services to large and small water utilities.

1. Are you getting return on your asset management technology investment?

In order to stay ahead, water utilities need to invest in emerging asset management technologies that will transform their structure and framework with enhanced data flows. One of the most important things to consider is whether or not water utilities are getting return on their technology investment, i.e. CCTV inspections, GIS or Work Order Software.

InfoAsset Planner supports the client by developing and prioritizing their asset management so that they can know precisely where they need to be putting their focus, allocate their funds, and make plans to respond without jeopardizing budgeting and schedule of operations.

2. How do you get repeat business from your existing utility client base?

Water utilities have little to no room for error so for engineering firms to maintain them as a client means they will need to provide consistently reliable and efficient water and wastewater asset management services with support clients can count on.
Utility managers are constantly having to track operational systems and never-ending maintenance upkeep. These include conducting an inventory of system assets regularly, adopting a preventive approach to asset maintenance, as well as demonstrating sufficient and long-term funding.

InfoAsset Manager zones in on the problem areas so that managers know exactly where and when they will need to create work orders and tasks ahead of time, ultimately saving money typically spent on reactive maintenance.

3. How to customize asset management reporting according to client’s requirements?

The reporting requirements of clients and regulations across the water and wastewater industry are also known to significantly raise the cost of operations. Engineering or consulting firms need to implement an innovative reporting platform to address, all of the reporting requirements, which will allow them to focus on core functions and processes.

To customize asset management reporting for water utility managers, the software platform needs to provide a substantial assessment of the condition of the water quality and wastewater assets. InfoAsset Manager caters to this very need by storing all current and historical data of each individual asset, used for inspection, surveys and customer reports.

A complete asset management report will improve decision time, resolve maintenance issues, increase productivity and better manage spending and investments for clients.

4. Can you easily simplify asset management results for smaller utility clients who are just starting asset management plans?

Even though large and small utilities face similar challenges like aging infrastructure, reporting and data mismanagement, and challenging economy, small utilities often do not have the experience or expertise to estimate their asset replacement and repair costs.
Engineering firms need to simplify their processes for smaller utility clients in order to help them develop a successful asset management plan. They need to align the utility’s strategic goals with available resources so they can maximize the value of those resources.

Using InfoAsset software empowers clients by helping them to leverage data and build their own roadmap of problem areas so they can proactively address and prioritize maintenance and restoration areas.

5. Do your clients understand your added value providing asset management services?

Asset management involves making sure that requirements are met, maintenance is on point, risks are avoided and budgeting is on target.

Benefits of asset management include:

• Capability to perform a full assessment of water and wastewater systems
• Reducing reactive maintenance costs
• Leveraging current and historical data
• Improving decision-making, management and productivity

With effective water utility asset management, engineering or consulting firms can easily meet client requirements as well as consumer demands while focusing on asset sustainability, improving safety and security, prolonging the life of assets, and managing operational costs.

Using Innovyze’s InfoAsset helps water utilities better prioritize and manage their asset plans, increasing the pace of decision making. InfoAsset Manager assists in processing inspection data and mitigate risk-based assessments so that water utilities can stay ahead of repairs and replacements. InfoAsset Planner creates a roadmap for any restoration work needed so that assets can be utilized in the most efficient way possible.

As an engineering firm, you want to offer best-in-class solutions that not only meet your client’s needs but enhances them. By offering InfoAsset software you are helping water utilities be more proactive and sustainable in their operations, ultimately helping them to be more successful.

To learn more, visit Innovyze at: InfoAsset

Tags: asset management, asset management engineering services, water and wastewater asset management, water utility asset management

About the Authors

Allison Keir

Allison Keir

Digital Content Producer

 

Originally from the seacoast of New Hampshire, Allison has accumulated over 10 years of experience working in film production and digital marketing for companies based out of New York, Los Angeles, San Diego and Boston. She joined the Innovyze team in 2020 as our Digital Content Producer, focusing on blogs, videos, podcasts and various other product related articles. Inspired by her childhood love for outdoors, Allison has a personal and professional passion for environmental causes and sustainable solutions.