In the renewable energy industry, most businesses have large numbers of capital assets that need to be managed. Often, these assets are physically spread out and have complicated technical and business management requirements. Well-organized asset management systems and processes are essential for properly handling those capital assets. To handle all the pertinent data and keep assets as financially productive as possible, your team needs the right asset management software.
Asset managers for renewable energy organizations are primarily responsible for handling the obligations related to energy-producing assets. In other words, they help to ensure that the company assets are meeting the requirements set by leases, financial agreements, energy-production contracts, power purchase agreements and similar arrangements.
To achieve this, asset managers must have an in-depth understanding of the financial, commercial and administrative activities necessary to keep an energy asset productive throughout its lifecycle. They must also have the tools to track current agreements. Identifying the status of different obligations, the relevant assets and the interaction points between them is mission critical.
Part of this involves interacting with operations and management teams. However, asset management extends beyond the technical, on-the-ground maintenance of equipment. Asset managers are focused on the broader management of equipment as business assets.
The renewable energy industry is capital intensive. Reliable asset management solutions are the keys to mitigating risk while optimizing the returns for investors.
The above functions of asset management require a significant amount of documentation. A powerful asset management platform can help your organization to realize its full financial potential. Even keeping track of where assets are and what their current operational statuses are can be almost impossible without the right software.
For example, using an effective asset management system, you can organize all the documentation related to asset obligations. You can quickly reference which assets are performing up to expectations by checking operational reports. You can also oversee the maintenance of assets to ensure they have complete operational lifespans.
The right software ensures that all of this information is available on-demand to the asset management team. It can also make it easy for teams that need to submit asset-related information to do so. For example, you may need to keep track of inspection reports. With the right software, these can be completed by the O&M team then viewed by asset management all within one platform.
Transitioning to a new asset management platform from legacy processes can be a significant undertaking. Nonetheless, it is well worth the switch. These are some of the advantages of using a modern solution:
In short, the right asset management tools can make your workflows smoother and more efficient. That translates into bottom-line results.
Fluix is a document workflow software platform that can fuel your asset management success. Using Fluix, you can ensure that all relevant documentation and reports are organized and readily available to teams in the field and in the office. Better yet, field teams can complete reports and enter data easily from mobile devices. Learn more today and get started using Fluix.