Power and water are two of the most basic needs for every industry, city or local community. Production and delivery of these utilities on a cost-effective and consistent basis require constant maintenance of utility assets such as power turbines, substations or a city’s municipal water infrastructure. A utility company may have hundreds of thousands of assets spread out over massive areas. To avoid unplanned downtime or emergency overtime, it is important that utility companies know where their assets are, the asset’s age, condition, maintenance history and expected useful life remaining.
Asset management allows for utility owners to produce necessary management reports for scheduling repair and replacement of assets. This is important for utility assets in remote locations to avoid long downtimes or public disasters.
Utility owners can keep track, add, and view documentation including blueprints, warranties, and contracts of all assets and eliminate a paper-based system.