Moving from cigarette box notes to integrated Enterprise Asset Management

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Having been in the Enterprise Asset Management (#EAM) industry for almost 30 years, the team has seen all levels of system maturity among our clients, prospects, and competitors. There are those companies that:
• Have no systems and processes in place: Finance is on a spreadsheet and any supply chain and maintenance spare requirements are recorded and communicated from the maintenance manual onto a cigarette box and bought over the phone and email (Level 1).
• Have a lightweight ERP for finance and supply chain but all the rest is on spreadsheets and paper. There is no audit trail, no integration and operations are continually interrupted by breakdowns as minimal preventative planning is in place. To cater for a short supply on spares, more stock than necessary is carried. (Level 2)
• Have a best of breed approach with ERP fully functional with a lightweight Maintenance System (CMMS) which is not integrated with the ERP. Stock is tracked in the maintenance system and not the ERP. No advanced Enterprise Asset Management functionality exists (Level 3).
• Have invested a huge amount for a state-of-the-art ERP, but as it is so costly and time consuming to roll-out, only Finance and Supply Chain have been deployed. Maintenance, Health and Safety (HSE), HR and Payroll are all on third party products. Processes are well defined but integration between the various systems are manual and with limitations. Integrated enterprise asset management (EAM) fails as the integration with finance and supply chain is not a reality. (Level 4).
• Have a state-of-the-art ERP which does offer integrated EAM or have successfully deployed several best-of-breed products and successfully integrated these. (Level 5).
In recent years there has been la lot of movement in the EAM space. Where traditionally, only the top ERP systems such as SAP, IFS and Oracle offered integrated ERP and EAM solutions, various other players have now mirrored this combined offering. One of the new kids on the block is Microsoft’s Dynamics 365 for Finance and Operations ERP. A cost-effective offering by Microsoft (#Microsoft) with and open, cloud-based architecture. Though Dynamics 365 ERP (#Dynamics365) does offer a maintenance module, integrated EAM is achieved via 3rd party EAM modules develop inside the Dynamics 365 architecture. This allows for one, cloud-based version of the truth.

Integrated Enterprise Asset Management (iEAM) offers functionality such as Asset, Maintenance, Failure, Warranty, Tyre management., Total Cost of Ownership tracking with integrated usage depreciation is a reality. Other key elements include IoT and mobile integration. I will post a short write-up on Integrated Enterprise Asset Management in the next few weeks as there are suppliers talking EAM, but not delivering on it.

A further progressive move in recent years is the wrapping of ERP and EAM into industry specialist verticals. This not only offers complete integration of ERP and EAM but is a further extension to add industry specific functionality. Common industry extensions and wraps are Fleet (#Fleet), Mining (#Mining), Rental (#Rental) and Real Estate management (#RealEstate). A good example of this can be found in the link below:

And finally (in recent years), we have seen the introduction of digital twins, a topic which I shall further publish on in the next couple of weeks.
So, my question to all my asset management colleagues and friends – on which maturity level are your asset management and what is your strategy to push to the next level and reap the benefits of integrated Enterprise Asset Management. Please complete our LinkedIn poll on this topic.

New Tire Management Functionality in Dynamics 365 FO

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Welcome to our quick tour of the updated 360° tire management functionality available in Microsoft Dynamics 365, for Finance and Operations.

Together with labor and fuel, tires remain one of the key cost drivers for fleet, construction, and mining operators. Optimizing the life and controlling the costs of tires are central to an effective operational strategy. Having an integrated tire management solution, enables 360° visibility and proactive decision making.

The top 10 issues transforming the future of mining

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Solving the value conundrum
Disruption and volatility have become the new constant for the mining sector—grappling with issues like rising stakeholder demands, talent shortages, tarnished reputation, an evolving threat landscape, and dwindling access to key resources such as energy and water. What leading strategies can miners deploy to succeed in this dynamic business environment?

To thrive into the future, companies must re-envision corporate strategies, boost risk management approaches, and improve relationships with stakeholders, in addition to making rapid strides in digital transformation, expanding capital spend, and fostering an environment of diversity and inclusion.

Now in its 11th year, the 2019 Tracking the trends reveals the top 10 trends that should be on every mining company’s agenda. Our global mining professionals once again share insights that miners can leverage in their ongoing pursuit for productivity, capital discipline, strategy development, and sustainable growth.


Medical Billing Outsourcing Market Size Worth $19.7 Billion By 2026: Grand View Research, Inc.

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Medical Billing Outsourcing Market Size Worth $19.7 Billion By 2026: Grand
View Research, Inc.

PR Newswire

SAN FRANCISCO, April 22, 2019

SAN FRANCISCO, April 22, 2019 /PRNewswire/ — The global medical billing
outsourcing market size is projected to reach USD 19.7 billion by 2026
expanding at a CAGR of 11.8% , based on a new report by Grand View Research,
Inc. Large amount of medical code representation for diagnosis and treatment
coupled with the presence of multiple payers renders medical billing an
intricate part of any medical practice, posing significant challenges.

Key suggestions from the report:

* In-house segment accounted for the largest market share in 2018. However,
outsourced medical billing is expected to be the largest and
fastest-growing segment in future
* Front-end services led the market in 2018. However, middle-end services
segment is expected to register the highest CAGR of 12.4% over the
forecast period
* Hospitals accounted for the largest market share of the medical billing
outsourcing market in 2018 and is estimated to maintain the dominance even
during the forecast years
* North America held the largest share of the global market. It is projected
to expand further as U.S. has witnessed a change in healthcare system with
the implementation of ICD-10 coding and pressure from the government to
incorporate EMR management system
* Some of the key firms in this industry include Accretive Health, Inc.;
Allscripts; Cerner Corporation; EClinicalWorks; Experian Information
Solutions, Inc.; GE Healthcare; Genpact; HCL; Kareo; McKesson Corporation;
Quest Diagnostics; and The SSI Group, LLC


Global Fleet Management Market to Reach $34.63 Billion by 2022 at 24.5% CAGR, Says Allied Market Research

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Increased in need of operation competency, rising concerns regarding fleet safety, mandatory government regulations, and compulsion of ELD implements are expected to boost the growth of the global fleet management market. Moreover, surge in adoption of wireless technology owing to its falling price supplements the market growth. However, cost sensitivity in local players hampers market growth. On the contrary, strengthening communication network, growing vehicle replacement market, and increase in international trades of goods & services are expected to create lucrative opportunities in the near future.

Portland, May 20, 2019 (GLOBE NEWSWIRE) — According to the report, the global fleet management market accounted for $7.76 billion in 2015 and is projected to garner $34.63 billion by 2022, registering a CAGR of 24.5% from 2016 to 2022.

The global fleet management market is segmented on the basis of vehicle type, component, communication technology, industries, and geography. Based on vehicle type, the market is divided into light commercial vehicle, heavy commercial vehicle, aircraft, railway, and watercraft. The railway segment held the lion’s share in 2014, contributing more than one-fourth of the total market. However, the aircraft segment is expected to manifest the fastest CAGR of 26.3% during the study period.


Potential disruptors to the commercial property market

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Disruptors in the real estate market may be described as new developments, trends or technologies which alter the way business is done and understood in the existing market,” says Leon Breytenbach, National Manager of the Rawson Property Group’s commercial division. Breytenbach discusses a few of these disruptions in order to better understand their workings and how they may be capitalised upon. The commercial property market has undergone some great changes in the past, and there could be major changes in the pipeline due to the occurrence of constant technological advancement.


Trends shaping the commercial property market

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On-demand office space, e-commerce, inner-city gentrification and worker mobility trends have resulted in property investors exploring new models to turn a profit in the soft market.
The commercial property sector has delivered robust returns to institutional investors over the last 15 years.

“We’ve realised phenomenal capital growth on the back of strong asset appreciation and rental increases that have kept pace with inflation,” says Darryl Mayers, Joint-CEO of the Investec Property Fund.

“By leveraging time and inflation, this asset class has outperformed just about everything else in the local market over this period,” adds Joint-CEO of the Investec Property Fund, Andrew Wooler.

Developers and investors exploited this bull market to rapidly scale their portfolios, which led to significant residential and commercial development around South Africa’s major urban nodes. Among institutional-grade commercial properties, Wooler says retail was a standout performer for fund managers and investors.

However, the fundamentals that fuelled this boom period for the local property market have dissipated and the dynamic has shifted. “Due to a weak macroeconomic climate characterised by low growth and instability, no new businesses are entering the market, which means a lack of new tenants,” adds Wooler.


What Is a Property Manager Responsible For?

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BY ERIN EBERLIN Updated April 30, 2019
If a landlord wants help taking care of the daily responsibilities at their rental property, he or she can hire a property manager. A property manager can be hired for one simple task, such as collecting rent, or can be completely responsible for the operations at the rental property.

Here are seven important roles a property manager can take on.

1. Responsible for Managing Rent
Collecting rent is a basic responsibility of any landlord. Therefore, it is one of the most common jobs a landlord will pass on to a property manager. A property manager’s rent responsibilities could include:

Setting Rent: The property manager would set the right rent level to attract tenants to your property. To determine the rent range, the property manager will look the market where the property is located and analyze comparable properties in the area.
Collecting Rent: The property manager will set up a system for collecting rent from tenants. To ensure optimal cash flow they will set a date to collect rent each month and strictly enforcing late fees.
Adjusting Rent: The property manager can increase the rent each year, according to individual state and/or municipal law. They can also decrease the rent if they feel it is necessary.

2. Responsible for Managing Tenants
Managing tenants is another core responsibility of a property manager. The property manager may be involved in finding and screening prospective tenants, managing daily complaints and maintenance issues and handing tenant move outs and evictions.

Finding Tenants: Property managers are responsible for filling vacancies. They will advertise the rental and create a compelling ad. They also understand what attracts tenants, so they can offer tips to help makeover the property.
Screening Tenants: Property managers should have a consistent screening process, including running credit checks and criminal background checks, which can decrease your chances of tenant turnover. Experienced property managers have seen hundreds, even thousands, of tenants, so they have a better idea of how to select the right tenants; those who will pay their rent on time, have a longer tenancy and create fewer problems.

Handling Leases: This can include setting the lease term and making sure it has all the necessary clauses to protect the owner. This includes determining the amount of security deposit required.
Handling Complaints/Emergencies: The property manager may deal with maintenance requests, noise complaints and handling emergency situations.
Handling Move Outs: When a tenant moves out, the manager is responsible for inspecting the unit, checking for damages and determining what portion of the security deposit will be returned to the tenant. After move out, they are responsible for cleaning the unit, repairing any damages and finding a new tenant.
Dealing With Evictions: When a tenant does not pay rent or otherwise breaches the terms of a lease, the property manager understands the proper way to file and move forward with an eviction.

3. Maintenance and Repairs Roles
The property manager must keep the property in safe and habitable condition. Property managers are responsible for the physical management of the property, including regular maintenance and emergency repairs.

Property Maintenance: This includes performing preventative property maintenance to keep the property functioning in top condition. For example, they are personally in charge of, or must hire someone to, exterminate, check for leaks, landscape, shovel snow and remove trash. This maintenance aims to keep current tenants happy and attract new tenants.
Repairs: When there is an issue, the property manager must fix the problem or hire someone else to do it. They often have a large network of reliable plumbers, electricians, carpenters and other contractors.

4. Knowledge of Landlord-Tenant Law
Good property managers have an in-depth knowledge of statewide and national laws regarding the proper ways to:

Screen a Tenant
Handle Security Deposits
Terminate a Lease
Evict a Tenant
Comply With Property Safety Standards

5. Supervising Responsibilities
Other Employees: If there are other employees in the property, such as a concierge or security personnel, the property manager is responsible for making sure they are doing their job. The property manager can set their salaries and even fire them.
Vacant Properties: Property managers are often hired to look after vacant properties to make sure there has been no vandalism and to perform routine maintenance. They also make sure contractors and other repairmen are completing their work in a timely manner.

6. Responsible for Managing the Budget/Maintaining Records
Property managers can be responsible for managing the budget for the building and for maintaining all important records.

Managing Budget: The manager must operate within the set budget for the building. In certain emergency situations when the occupants (tenants) or physical structure (investment property) are in danger, they may use their judgment to order repairs or likewise without concern for the budget.
Maintaining Records: The property manager should keep thorough records regarding the property. This should include all income and expenses; list of all inspections, signed leases, maintenance requests, any complaints, records of repairs, costs of repairs, maintenance costs, record of rent collection and insurance costs.

7. Responsible for Taxes
The property manager can assist the property owner with understanding how to file taxes for the investment property.
The property manager can also file taxes for the property.