How AssetPool started - our journey to streamline asset management

Stapler and pens on a messy pile of paperwork - why you should switch to digital asset management

 

Every business relies on unique processes. Why? Because processes allow for an efficient business model to be achieved. Unfortunately, this business model is historically a manual one - requiring human intervention from staff. 

 

AssetPool is on a mission to address this problem - helping businesses digitize their operations with a simple, app-based solution that is fully customizable within any environment. 

 

How our asset management software has revolutionized the ISO compliance process

 

In 2018, having explained to an investor in another business of mine that I was going to use technology to grow and transform our business, I found myself desperately looking for the right platform to affect this need - with little success.

 

Developing a user friendly, app-based asset inspection solution

 

I knew technology was at a point where smart phones were cheaper than ever before; the price of data was falling rapidly, and ultimately smartphones were becoming so much more than just mobile devices. They had the ability to cheaply and effectively “digitally fingerprint” process points in daily business activities. The smartphone was a readily available and accessible tool! 

 

We quickly identified a gap in the market that we could fill

 

In Q1 of 2018, I met with various software companies and explored a number of different platforms. Some were old, some were too clunky to adapt to the pace of change in the world today, some were very expensive and some were just too complicated to use. The industry needed a simple, effective and user friendly digital asset management solution - but it didn’t exist. 

 

In July 2018 we began with the AssetPool “Smart Inspection” conceptual build.  

 

Fast forward to October 2019, I approached a good friend of mine, who at the time was the CEO of a large Access Rental business. I explained to him that he needed to try out our platform and that it would change his business. His response to me was, “Mike we have systems, we have paid loads of money for them and I am sure they do what your platform does”. 

 

However, once he understood AssetPool, it was evidently different to what was in place at his operation and he agreed to entertain a trial on his fleet of +1000 machines. 

 

Assetpool complete_v4

 

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AssetPool is a powerful, cost effective asset management app

 

After a couple weeks of implementation, we rapidly found success in AssetPool’s simplicity, ease of use + clean, clear dashboards which are packed with powerful information and reporting insights. 

 

By making use of AssetPool, which runs cheaply on any Android or iOS device, we have helped a friend and valued client transform his business and ISO process to a digital inspection-based operation. 

 

We have given my friend visibility over his Assets like he has never had before, all while adding around $8000 USD to his bottom line every month through measurable savings. The return on investment “ROI” has been phenomenal.

 

  • ISO audits (while they still have to happen) talk to the AssetPool process
  • No more paper, what a great byproduct of the software (Green initiative)
  • No more transporting paper – fuel saving (the technician in the field no longer has to transport paper back to the office (Green initiative) 
  • We know the speed of each and every inspection and who performed it 
  • AssetPool cannot be manipulated by staff, doing away with fraud and lost inspection data
  • Storage is in the Cloud, safe and secure on our AWS hosted platform (Amazon Web Services) 

 

Moving from a paper-based world to a digital one

 

Paper has for many years been our only means of recording asset inspection findings; be it taking an order from a client at a restaurant or inspecting a vehicle, plane, generator, fire hose reel, the list goes on…  The fact of the matter is we can only control what we CAN measure, and paper processes have for many years been the answer to this control. 

 

One might argue that record keeping is ultimately Quality Control, which every business process relies on. Quality control = accountability, efficiency and risk management.

 

We can all agree that paper record keeping as a method of quality control has been a necessity throughout the ages. This has helped industries advance for decades. In the 19th century there was certainly no alternative to a paper-based process. In fact, the third industrial revolution was heavily reliant on this and was 100% quality controlled using paper. 

 

Many larger organizations require an ISO accredited documentation process, most recognizably ISO 9001 (which is the world's most recognized quality management system (QMS) standard). 

 

This process is audited annually and requires strict QA/QC controls. As mentioned above these processes are very necessary as they ensure efficiency, mitigate risk and set a standard for the business allowing it to continue should a member of the team be lost or removed. 

 

The disadvantages of a paper-based process for ISO compliance

 

Laborious, paper-based asset management processes have been the norm for decades. There are however definite drawbacks to these paper-based processes, some of which are: 

  • You have to pay for third party ISO audits
  • Paper-based processes are extremely labor intensive
  • Change is slow 
  • Paper documents can easily be misrepresented or fraudulent 
  • Important documents are at risk of getting lost
  • Paper-based processes rely on people to be diligent
  • Important documents could be illegible when handwritten on paper 
  • Paper documents require filing and storage for up to 5 years 

 

Luckily, the digital revolution has provided a better solution for businesses

 

Technology has thankfully caught up, and businesses owe it their bottom line to pay attention, understand what is available and implement the change technology can provide. If they don’t their competition certainly will. 

 

Over the last 20 years we’ve become hyper connected, extremely efficient and technology is allowing us to transform businesses like never before!

 

AssetPool onboards your Assets at the asset, we provide insightful reporting to effectively help your business achieve success for you and your staff. With Geo-Location and photographic evidence certainty is unlocked and we give you the control you need.

 

We look forward to hearing from you soon! 

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