How an energy service company uses AssetVoice to digitally track rental equipment
Client: Energy service company
Asset: Marine and lifting rental equipment across the renewables, oil and gas and decommissioning industries
Project Objective: Digitise and track our client’s rental equipment workflows with AssetVoice, unlocking valuable operational data insights to support decision making and offering a unique differentiator in the marketplace for their clients.
Software: AssetVoice
Location: Global
The client implemented AssetVoice to digitally transform their global rental equipment services portfolio, by enabling intelligent equipment tracking, improving visibility, and enhancing utilisation.
The integration of ABL’s AssetVoice software combined with RFID tagging digitalised the rental equipment, unlocking significant advantages for the client such as real-time data acquisition, enabling them to elevate the quality of services delivered to their own clients.
Challenges faced by the client
The client required an intelligent equipment management system to support them with the following improvements to their processes:
- Eliminate manual processing and reporting of rental equipment which are time consuming and allow for human error
- Have real-time visibility of equipment location data and statuses
- Enhance data analytical capabilities for making data-driven informed decisions
- Simplify the updating of equipment registers and assure accuracy
- Improve rental equipment utilisation challenges
- Improve equipment traceability, auditability, and workflow compliance
- Simplify and optimise the personnel and equipment reservation process
- Optimise the allocation of personnel and equipment to projects
“Digitalised equipment unlocks significant benefits for our clients and our company, such as increased sustainability through ESG analysis, improving operational efficiency through more informed decision-making, and automated financial tracking to calculate accurate utilisation cost.”
Technical Director, Energy Service Company
The value AssetVoice delivers to this client
Enhanced data improves operational efficiency
- AssetVoice allows the client to make data-driven informed decisions as well as workload management and resource allocation efficiencies.
- A digital proof of presence is achieved alongside clear and instantaneous reports.
- Insights on underutilised equipment allow the client to take remedial/improvement measures to improve equipment utilisation leading to an inflow of rental revenue.
- Single source of truth and a central digital repository for equipment data providing a digital archive of the whole equipment lifecycle.
Multiple benefits compared to spreadsheet alternatives
- Improved information security, by migrating data from spreadsheets to a secure, cloud hosted database with mandatory two factor authentication for all users.
- Enhanced disaster recovery when compared to spreadsheets, through regular backups of data.
- Simplified the user experience when compared to spreadsheets, by defining roles, to ensure users only see the data and functionality they need for their role.
Sustainable hardware and software
- The RFID tags are passive, not requiring an energy source, have a long useful life, are reusable, and therefore promote the circular economy and reduce waste.
- AssetVoice is hosted on cloud servers that are powered by 100% renewable energy, making it more environmentally friendly.
- The AssetVoice software has been optimised to reduce its storage, memory and CPU resources, resulting in lower energy and water consumption to run on cloud servers.
- Ability to carry out ESG analysis by having a digital audit trail of equipment movements.
Improved operational efficiency
- Automated financial tracking to calculate accurate utilisation costs.
- Increased productivity due to decreased need for manual reporting.
- Cost savings through maximised visibility and more efficient control of rental stock.
- Quality-assured management of change.
- Traceability extended throughout the entire chain of custody.
Results so far
50K
Over 50K rental days tracked
£10M
Over £10M rental revenue tracked
700
Over 700 rental assets tracked across multiple asset types
5K
Over 5K reservation hours tracked
About AssetVoice
AssetVoice is an award-winning inventory tracking and management of change software that uses RFID technologies, IoT and cloud services to track equipment location, monitor change and produce insightful analytics throughout equipment’s journey to assure availability, safeguard integrity and boost profits.
Get in touch! By registering your interest in AssetVoice™, you can:
- Book a demo of the software
- Get more details about the software and hardware solutions
- Receive ongoing insights and advice for asset tracking and labelling initiatives