When order is called at the start of the next board meeting, the chances are that asset management priorities are not at the top of the list. All too often, the issue is not set on the agenda at all as business executives relegate asset-management to out of date, tedious, manual and slow systems. It’s amazing to think that they are unaware how this lack of attention could cost them, especially as they give plenty of attention to the actual capital costs associated with equipment purchase in the first place.

True value can only be attached to a particular item of equipment, if it is the subject of correct monitoring and management. The net efficiency of an asset is the result of its ability to perform relative to its intended purchase, together with its absolute energy efficiency. This latter metric is often overlooked, yet it has many hidden meanings.

If we are to discover the energy efficiency of any piece of equipment, we must set asset-management properties to a high level. Once we have established a benchmark, we can look at individual asset efficiency in real time and can start to see problems that we did not realize existed. For example, when equipment fails, we jump into action to try and stave off all the repercussions associated. If we had been monitoring the item, we would have seen that it was starting the consume more energy than normal, alerting us to problems ahead.

Whenever an asset fails, the associated downtime leads to a lack of productivity, expensive callout rates for technicians and other knock on effects. Indeed, other pieces of equipment may fail, as a consequence. Why is it that executives leave so much to chance by failing to focus on asset-management priorities?

If a company is to own its footprint, in societal and environmental terms, it has to be aware of the size of its operation. If asset-management priorities are low, and equipment inventory may simply be out of date, unable to contribute the needed information to a footprinting exercise.

Before a carbon footprint can be established along the road to pure energy efficiency, each individual piece of equipment throughout the organization must be identified, categorized, tagged and monitored. The process of tagging by itself may make the business more efficient and more focused. In the case of a smaller mobile asset, there could be a clear vulnerability to theft or misuse.

It’s true that when business expands, executives seem more inclined to leave certain systems as they are, as they focus on other, more pressing issues. They might feel that it would be difficult to establish an asset inventory under the circumstances. There are a number of dedicated teams, however, who possess experienced technicians and special software, specifically designed for asset surveying and tagging.

Asset-management priorities will become much more important as the price of energy continues to alarm, as a growing call for sustainability is heard and organizations start to find every opportunity to make their businesses more efficient and productive against growing competition.

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In today’s pressurized business environment, executives must ensure that they leave no stone unturned as they strive to keep the company above water, let alone try and turn a profit. The brutal recession has ensured that every measurement metric must be carefully analyzed and every opportunity for improvement seized. The executive team will soon realize that many of the old methods are far from adequate, even though they may have been considered to be acceptable in better times.

The business can only hope to be wholly efficient if each and every one of the pieces of equipment, or assets, in its possession is also efficient. Every piece of equipment must do its part and contribute to the whole. We used to be quite content to measure an asset’s efficiency in relation to its designed purpose. However, this is an insufficient metric today. We need to be able to use online asset management software solutions to get comprehensive data in as close to real-time as possible.

If we cannot determine how a piece of equipment works, we can’t hope to contain the amount of energy that it uses. We are far too used to old recording methods such as spreadsheets, as we log the existence of the asset, any associated maintenance issues and its perceived performance. As spreadsheets are very static, they are hardly suitable if we are to try and keep on top of pure efficiency.

In the 1980s, spreadsheets were seen as a revolution within industry. While they have improved since that time, they are nevertheless far from the best solutions if we are to monitor asset performance in real-time. Only through the use of online asset management software solutions can we hope to have a greater visibility into equipment efficiency.

By using online asset management software we can look at each piece of equipment and set benchmarks to give us warnings, alerts or alarms. Software solutions can be set up to deliver automatic messages to service providers and technicians, when any major issues are detected. We need to be sure that we avoid excessive downtime wherever possible.

Many organizations in truth do not have a very effective way of recording asset inventories. There may be several different systems, which do not mesh together. How can a company be efficient if it is not truly aware of the inventory in its possession? Online asset management systems begin with a thorough tagging and identification process.

Energy can represent more than one third of monthly expenditure for the typical business and its cost is rising dramatically. The call for sustainability requires us to control our energy usage, at the same time as we cut back on our associated carbon emissions. In order for us to achieve this, we need to control the performance at the asset level.

Excel-based spreadsheet options must be replaced by online asset management software which is much more dynamic. We can eliminate many layers of confusion and have a much broader visibility across the enterprise.

Daniel Stouffer has a lot of information about online asset management software and how a visit to www.verisae.com can aid you.

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Every organization relies, to one degree or another, on the productivity of its asset inventory in order to survive and prosper. Many companies have a wide range of assets, spread across a number of disparate locations. The more complicated your organization, the more you need asset management products that are 21st century in reach and capable of providing you with intensely granular detail.

For many decades, organizations have turned to out-of-date asset management products, many of which have been based around the ubiquitous spreadsheets. While critical decisions are made on a daily basis related to productivity, marketing and personnel, many decisions appear to be made by using out of date approaches to equipment management.

You can never manage effectively unless you monitor correctly and carefully. Every asset that the business owns must be purely productive and return good value against investment. If this is not proven to be the case for every asset across the board, the business will be undoubtedly inefficient and uncompetitive. Managers need to make critical decisions at pertinent times and this can be a very difficult undertaking if they’re not using the best available asset management products.

We’re lucky to be able to find asset management products today that give us an unparalleled insight into the real operating statistics of the business. These products are supplied as a “software as a service” platform and are really dynamic when compared to the spreadsheet that we typically rely on. Information entered into a spreadsheet is out of date as soon as it is published and we need real-time insights which can only be provided by custom-made, software-based asset management products.

In times of recession, capital expenditures can be very difficult to justify and this is especially true when it comes to asset replacement. It is therefore so important that we are in possession of granular detail to enable management to make the right decisions at the right times. They will need to have a detailed track record for each piece of equipment, maintenance logs and its performance against warranty.

Often, asset performance is based on its productivity as measured against a specific purpose. For example, how many “widgets” it is able to produce during the span of an hour. Hereto, asset performance has not been measured against its energy consumption, yet this is a critical metric. Very few organizations actually know the energy consumption and performance figures related to a particular piece of equipment.

We need to start with a clean sheet of paper (pun intended) and introduce modern asset management products. We have to tag and record the existence of each piece of equipment and be aware of its vital statistics. Once we have this benchmark data, the registered inventory can be monitored against performance in real-time. Now we have the vital intelligence we need to make those important decisions.

Traditional asset management products cannot provide the basis of business intelligence for the executive going forward. By relying on spreadsheets and other outdated solutions, a truly competitive position cannot be maintained. Each asset on the record books must be “micromanaged.

Daniel Stouffer has much more data about asset management products and how a visit to www.verisae.com can aid you.

Companies need to look at their traditional ways of assessing individual asset efficiency. It is no longer good enough to look at the ordinary determinants, without integrating energy performance. An innovative approach to asset management has emerged which is known as “global asset sustainability.” We are now able to get a much clearer definition of efficiency if we adopt this system, driving improved financial metrics throughout the organization.

Driving a new approach toward global asset sustainability is the ever-growing price of energy and its associated security issues. Energy prices are on a relentless rise and availability is far from assured. Companies realize that this position is significantly affecting their profit margins and unless action is taken, will threaten their very business viability. Along with energy worries is a dual concern — the environmental impact of consuming energy and producing greenhouse gas emissions.

All elements of the operation must be leveraged if inefficiencies are going to be revealed. We used to look at asset management from a perspective of conventional efficiency by itself. We would simply look at whether an asset was performing and producing according to the specification of its design and manufacture. The fact that the asset may be consuming more energy than it ought to was often invisible, yet this was a real cost and causing a reallocation of budgets from elsewhere in the company.

Global asset sustainability takes a clear look at energy consumption, alongside the traditional metrics of availability, condition and performance. It’s not surprising, as the Department of Energy can tell us that the typical commercial or industrial company in the country now allocates over 80% of a non-labor operating and maintenance budget toward energy, alongside maintenance.

Let’s look at how we should manage assets. The new approach of global asset sustainability focuses first on the critical element of availability. It goes without saying that maximum uptime is essential if the company is to be able to generate any revenues. Next, the company must consider how each asset is performing against its specification and warranty. This dictates the return on investment and is the primary, traditional metric that companies use to determine good value.

Ultimate performance often makes the difference between operating on razor thin margins and making a profit and as such, asset performance is a base metric, with quality control determining market position.

The traditional measures of asset efficiency missed the most important factor in global asset sustainability — energy consumption. Each asset must be measured when it is known to be running at its prime, to establish an ultimate position. Following that, evaluation can be conducted in real-time on an ongoing basis to make sure that ultimate efficiency is being obtained. Remember that even a slight variation, when multiplied across the typical distributed enterprise, can mean big problems for a company.

Overall equipment effectiveness readings will have to be modified to take into account energy as part of a new approach to global asset sustainability. Energy is and will continue to be the largest cost liability and companies must be in a position to monitor and micromanage it.

Daniel Stouffer has a lot of data about global asset sustainability and how a visit to www.verisae.com can benefit you.

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A new trend has emerged in the green building movement, as institutional investors and stockholders begin to realize the value of investing in efficient buildings. As such, companies and investment trusts that own properties across the United States are making sure that they increase their portfolio of properties that are classified as green in terms of building efficiency.

Real estate investment trusts have been turning to the Leadership in Energy and Environmental Design program to help them bring a lot of the buildings under their control to a more efficient specification. These days, more than one third of the buildings that they control around the country are thus categorized.

It’s interesting to note that, despite the downturn, interest in green investments remains high. Investors were able to look into the long-term practicality of building efficiency investments, with an eye on sustainability. Energy efficiency is a hot topic conversation among building owners and occupiers alike.

Leaseholders are helping to drive this position forward. They are very critical of building efficiency when it comes to a place to operate. Tenants are increasingly insistent that the buildings they choose to occupy are green. They not only want to be seen to be helping in the movement toward sustainability and credibility, but increasingly, their employees are demanding it.

It is interesting to note the tenants are willing to pay a premium to occupy space that is classified and categorized according to LEED standards. Owners are well aware that they are likely to retain tenant occupancy and to be able to realize premium rates if they make the investment in building efficiency now.

Upgraded and efficient buildings will be far cheaper to operate and investors have not overlooked this fact. This will be a much more efficient and manageable investment, a trend that will undoubtedly increase. For owners and for energy efficiency chasing tenants, it’s a winning to position all around.

Even though green buildings cost 4 to 5% more than their counterparts during the construction phase, the costs associated with bringing these buildings to the market can be absorbed through the early years through operational efficiencies. This is no doubt why the real estate investment trust business has been actively involved in this issue since 2005, when they established the Leader in the Light program.

Throughout society, there is a growing call for sustainability and energy efficiency. Building efficiency standards must continue to grow to keep pace with this demand.

Daniel Stouffer has a lot of information about building efficiency and how a visit to www.verisae.com can benefit you.

A significant initiative emerged from the Clean Energy Ministerial meetings in Washington in mid-July, one that is likely to be equally as significant as the groundbreaking LEED certification for building efficiency. The Global Superior Energy Performance Partnership is aimed at accelerating energy efficiency improvements in a number of different commercial and industrial facilities.

Around the world, buildings account for 60% of carbon emissions produced as a result of energy used and anything that can provide a significant improvement in energy efficiency is bound to be widely accepted. Funding is being provided in the initial stages by the United States government, but other countries are also chipping in and the reach of the project is intended to be truly international.

The European commission, India, Japan, Canada, France, South Africa, Sweden, Mexico, Korea and Russia are all involved in the Global Superior Energy Performance Partnership. The partnership reaches out to independent corporations as well, who are active participants and partners in the pilot program.

Well-known companies such as Dow Chemical Co., Nissan, Target, Marriott and Wal-Mart are pilot participants in the Global Superior Energy Performance Partnership. They will invest company resources on top of the $3 million set aside by the United States government to get things going. As time progresses, the pilot companies will share their knowledge with all other participants and the findings will be correlated to enable the construction of certified standards for all industries.

The main focus of the Global Superior Energy Performance partnership is in cutting energy use, reducing carbon emissions, saving money and job creation. This will be achieved through the construction of a certification standard that will be applicable to facilities across the board. Once adopted, building and facility owners and operators must conform to the standard, by managing their energy use and introducing efficiency improvements. All of these improvements need to be independently validated.

The initiative will require the creation of an energy management system, core to the outcome of the Global Superior Energy Performance Partnership.Such a system requires a baseline inventory, so that facility owners and building managers are able to plan their way forward.

We know how chief executives are focusing on corporate sustainability as an increasing trend around the globe. Any initiative aimed at increasing building energy efficiency under their control is likely to be widely adopted. So far, the main standards involved with building efficiency have been the well established ISO 50001, as well as LEED certification.

Software solutions have emerged to help companies track the energy efficiency within buildings and assets alike. These solutions should be the basis of every company’s pursuit of sustainability in a complex and competitive trading world ahead.

Daniel Stouffer has much more data about the Global Superior Energy Performance Partnership and how a visit to www.verisae.com will benefit you.

When the Global Energy Efficiency Challenge was unveiled by the United States recently, a variety of impressive initiatives were included. Many of these initiatives were niche related and quite diverse, while others were aimed at improving education and awareness in the mainstream. The Clean Energy Ministerial meetings in Washington DC spearheaded these initiatives.

We know from Department of Energy figures that the government is making significant investments in energy efficiency. As buildings account for 60% of greenhouse gas emissions around the world, most of these initiatives have been targeted at such buildings. For example, funds will be made available for inspection, technical certification, training of operators and auditors and also directed toward college or university research grants.

One of the most significant initiatives to come out of the Clean Energy Ministerial is the Global Superior Energy Performance Partnership (GSEP). This involves a three-pronged approach to efficiency improvements in commercial buildings and industrial facilities.

As some criticism was leveled at the United States by other countries participating in the Copenhagen energy Summit, the recently announced Global Energy Efficiency Challenge, spearheaded by the US government is bound to be welcome news. A number of other countries have signed on to support the project and become part of the partnership and these countries combined represent more than 80% of energy consumption, worldwide.

Fundamentally, the GSEP aims to establish the need for energy efficiency programs and to make sure that these improvements can be maintained. The organizations taking part in the pilot will use an energy management system to initially reveal a baseline inventory. The protocols of the Challenge require that certain improvements must be made before any independent validation can be sought.

Target and Wal-Mart, combined as the largest retail outlet companies in the world, have both committed to participate and will dedicate staff to the implementation of this commitment within the Global Energy Efficiency Challenge. Internally, staff will be trained in the details of the scheme and will subsequently upload findings to a centralized database, made available in the future to other participants.

Public buildings, retail operations, educational environments, investor facilities and commercial buildings are all covered under the GSEP program. Specific case studies will be generated and circulated with the aim of soliciting feedback prior to the certification process.

The GSEP partnership and the Global Energy Efficiency Challenge remind us how we all need to be much more efficient. We can take a leaf out of the books of those companies that have signed on to the waiting list for participation in this project. They can clearly see the impact that any publicly focused energy initiative would have. Reputations could be boosted if the companies are seen to be proactive in managing energy and emissions carefully.

Daniel Stouffer has much more information about the Global Energy Efficiency Challenge and why a visit to www.verisae.com can aid you.

What factors determine whether a particular asset is efficient or not within any given organization? Put it another way, what are the important metrics when it comes to assessing the viability of an asset and its return on investment? Traditionally, these factors are centered around performance based on specific purpose and the benchmarks used reflect manufacturer or industry expectations.

Asset sustainability is now becoming more widely recognized as an indicator of value. Companies understand how their activities may impact the people and environment all around them and are beginning to interpret the true meaning of corporate social responsibility. The company understands that it relies on natural resources to operate and that it must be a better steward of these resources.

Is it possible for a company to maximize its profit potential, while also minimizing its exposure? Certainly, this is a juggling act of immense proportions, especially as stakeholders seem to have more and more visibility into the day by day operations of the company.

Asset sustainability, as a concept, looks into the volume of energy that the company buys and uses as a part of its operation. We know that energy is responsible for carbon emissions and this, by itself, is a huge cause of concern in society. While energy is of course a scarce commodity, we also need to determine how each asset is, individually, sustainable from an energy perspective.

When an asset is purchased for use in the business, it is earmarked for a particular purpose and management refers to manufacturer specifications or industry benchmarks in relation to its performance. By using these parameters, traditionally we determine whether the asset is operating efficiently or not. It’s not normally measured according to its carbon output as an indicator of whether it is sustainable.

Asset sustainability will require a whole new approach to asset design and manufacturer. It is conceivable that such an asset may be designed to be less than ultimately efficient from a pure performance perspective in future, if such a design makes it environmentally unsustainable. This is a significant change in approach and will take some assessment.

Asset sustainability may only be revealed if it is individually monitored, from an energy consumption perspective, of course. This is not the case in the vast majority of organizations, who are only beginning to determine their energy-related carbon footprint as a consequence of their overall electricity use. Individual monitoring, before the meter, will reveal how each asset is performing based on a historical analysis.

We are moving from an era where assets, once installed, are expected to perform satisfactorily until they are projected to be replaced, to an era where asset sustainability is much more important.

Daniel Stouffer has a lot of data about asset sustainability and how a visit to www.verisae.com will aid you.

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How can an organization be environmentally sustainable and competitive in such a harsh economic world? This is the quandary facing organizations as they try and plan for the future. In a recent landmark study by global research company Accenture, 93% of CEOs determined that sustainability issues were critical to the company’s future success. This is a very important finding, conducted as part of the most comprehensive analysis ever undertaken in this sector.

While the majority of organizations questioned by Accenture may have been larger than the average, the principle remains. Companies must do everything that they can, not only to be environmentally sustainable, but perhaps as importantly, to show to the rest of the world that they are making such efforts. Almost 3/4 of the CEOs surveyed cited the issues of reputation and brand management as a key driver in the decision-making.

Every company seeking to become balanced in terms of environmental responsibility and competition must realize that ultimate asset performance is critical. While sustainability encompasses many areas including waste, water and labor, the appropriate management of assets represents the greatest area for gain.

When an individual asset’s energy appetite is revealed and baselined, its future performance can be accurately revealed. In the past, while assets may have undergone a periodic maintenance schedule, often problems were only revealed when failure was apparent or imminent. If each asset can be monitored on a real-time basis and its actual energy consumption determined, performance against benchmark can almost always give us an indication of impending problems.

The dilemma facing management is significant. It will undoubtedly have many banks of long-term assets and how can it incorporate these new measurement metrics into procurement and installation strategies? Will it be necessary to write off all assets to zero and “reintroduce” them into the inventory? Maybe this is the way to pursue true sustainability from now on?

Monitoring and prevention are the buzzwords for the corporation. We cannot rely on recording energy at a meter level if we are to reveal the true value of each asset. Every one of the thousands of assets must be looked at. Individual management of each asset is so important if we are to really safeguard brand and reputation here.

Carbon should not be viewed as a threat or a liability. Rather, it should be viewed as the catalyst to push the organization to reveal its absolute asset productivity, probably for the first time. Asset performance, when optimized, would reduce an organization’s energy liabilities and could reveal additional profits.

IT departments will become increasingly focused on corporate social responsibility and the need to use gathered asset performance data to drive business decision-making. Sustainability will become the core fabric of the organization.

Daniel Stouffer has a lot of information about asset performance and how a visit to www.verisae.com can benefit you.

Society demands corporate attention to sustainability. While you could argue that any time an external entity places a “demand” upon an organization, it represents a threat that must be addressed. You could also argue that the drive to sustainability makes good fiscal sense as well. The first step is to gather accurate and quantifiable information to create a baseline. This should be applied to all scarce resources, including energy and water, with both a carbon and a water footprint revealed.

After a baseline position has been calculated, a water efficient strategy should be rolled out. Use a full accounting approach, which will enable not only the direct but also the indirect liabilities to be revealed. Remember that there are real implications and not only in financial terms, for every particular action associated with water use or discharge. Try and assess how each and every stakeholder will react in different circumstances.

Once every “what if” scenario has been staged and understood, the water efficient strategy must be prioritized. This should be part of a sustainable aim, part of an organization’s DNA, which is practiced internally and externally.

In terms of sustainability, liability does not end at the corporate boundary. Indeed, we are being forced to focus more and more upon supply-chain liabilities as they are perceived to directly impact our operations.

Insist on supplier efficiency, as it pertains to the production and manufacture, transportation and other interaction. Their product or service is destined for your operation and you are therefore liable for not only energy used and carbon emissions, but their use of water as well.

Many consider that a water efficient strategy should revolve around the curtailment of water usage itself. There may, however, be more capital to be gained in both direct and indirect terms by focusing on the creation of products that are far less reliant on water at their core. In other words, the water efficient strategy begins at the design phase and not at the operational phase.

Whereas a company’s strategy will be visible, internal PR and Brand management staff should do everything they can to deliver their work and success in a positive light. Many organizations are slow to understand how good sustainable practice can benefit their brand management.

With effective measurement, tracking and reporting solutions in place, a water efficient strategy can underline how good a corporate citizen your organization is. This kind of reputational gain is very quantifiable and should motivate senior management just as much as potential financial savings down the road.

Daniel Stouffer has a lot of information about water efficient strategy and how a visit to www.verisae.com will be of use to you.