How can you enhance asset visibility in the digital age?
To determine if the assets are overworked or under-utilized, meet compliance requirements as well as to carry out Capex planning effectively, the telecom and tower companies need full visibility of assets. For the increasing cell phone users more and more cell towers are being set up to establish connectivity and help telecom companies improve their reach. The expansion in the number of towers further means a rise in the number of critical and expensive assets being deployed across these tower sites. Tracking, monitoring and managing these assets is easier said than done. With every single rollout of technology, the assets grow exponentially and lead the network to more vulnerabilities. The lack of a clear overview of the asset environment hinders optimal network enhancement.
The exhaustive list of assets spread over multiple locations are also under a constant threat of vandalism, especially in the remote areas. The inefficiency of the legacy tools in monitoring, tracking and managing assets result in unaccounted assets, almost 10-15% of the assets are unaccounted on sites and not being properly utilized because the key decision-makers remain unaware of them. In the absence of a centralised and consolidated asset management system, the companies face huge revenue leakages. There is duplication of investment and the insufficient knowledge of the asset environment makes companies inattentive to critical asset data. The unawareness about missing assets as well as around asset health often leads to unplanned site downtime and increases operational costs.
Today, the telecom and tower companies significantly rely on old-school techniques of email and SMS based approvals and escalations to manage equipment repair, replacement and deployment. Asset data is managed and stored in silos across ERPs and excels increasing the chances of errors. This limits asset visibility and affects optimal capital planning and decision making. The static reports shared by the legacy tools are difficult to analyze and customize; thus, no meaningful insights are derived from them either.
Tracking and monitoring assets is a cumbersome process and not having a centralised solution to give more control on the process significantly affects the efficiency and productivity. The sub-optimal use of the telecom assets impacts their health as well as longevity. At Infozech, we understand how valuable assets are and how important it is to store real-time information about asset data to avoid costly downtimes. We are coming with our next webinar on October 28th, 2020, to help you manage the asset visibility challenges in a better way. This webinar will focus on how to improve asset tracking through digitisation to achieve your Capex and Opex goals.