23 May 2022

KYA- Know Your Asset to the Next Level of Productivity

Utina Know your asset

Wouldn’t it be great if you could know how much your assets (KYA) are worth in real-time, based on their usage? Wouldn’t it be even better if there was a software solution where you could see all this data live?

With IoT, cloud, and AI technologies, there are now more opportunities to collect, consolidate, and analyze asset information, leading to the next level of productivity people are tracking.

It just takes the right enterprise asset management software to fine-tune performance, reduce costs, and increase your uptime and gains – which is precisely what Utina’s Asset Component Solution brings to the table!

But first, let us review what Know Your Asset is and what it can do for your business.


Why is Know Your Asset the next big thing?


Almost every asset-intensive industry faces ever-growing competition and economic risks in today’s markets, with few levers to drive differentiation and profitability. Of course, automation has improved productivity already, but only when it works and runs flawlessly.

So, the big question is: how do you stop the unplanned downtime and get that unexpected part of the way? Well, it’s a matter of getting to Know Your Asset (KYA): from the inside out!

It’s no secret that the quality of an organization’s products and services is impacted by the reliability and performance of its assets or equipment. That’s why most organizations are looking to maximize asset value throughout their lifecycle. Plus, they seek to continuously adapt to new customer demands and industry compliance by improving their operations.

Still, the challenge is that technology infrastructures running assets today are pretty complex, normally running applications and data in silos, which restrains the effectiveness of cross-organizational operations and efficiencies.

Therefore, only with integrated visibility and automation across business and technology assets, it’s possible to maximize the value of all assets supporting the operation.

Meaning: the KYA approach is one of the most significant advantages you can get, by consolidating data from various sources, such as IoT sensors, weather patterns, historical data, and EAM systems, to give you a complete health score of your assets.

It’s about tracking everything that you can measure. Then, get the cognitive insights that help you prioritize maintenance activities, reduce the risk of failure, and avoid wasting resources that will be better spent elsewhere. Moreover, help you decide whether to repair, decommission or replace a specific asset at a particular time.

The same as race-car drivers need to plan for every one of their stops to minimize unplanned downtime when they are out on the track, to run the perfect race!

When this framework is in place, your business can wield a more significant control of asset availability and reliability, optimize production and stay a step ahead of the curve and the competition.

So, to sum up, these are some KYA benefits:

      • Real-time Asset Status
      • Greater availability and reliability
      • Risk Mitigation
      • Maintenance work Optimization
      • Extended Asset Lifecycle
      • Better Decision-making
      • Fine-tuned Performance
      • Operations Efficiency
      • Increased profitability
      • Eco Responsibility


Utina’s Asset Component Solution


Utina’s Asset Component solution, available through the company’s innovative platform, does precisely this!

Specialized in designing and implementing state-of-art software for financial services institutions, our company provides a single platform that gives unmatched visibility and control to manage assets, schedules, resources, processes, inventories, and expenses.

Its component solution allows you to understand what your assets are saying and take action in real-time: managing your maintenance costs and reducing downtime by setting KPI for peak performances.

You can also decrease the number of technicians on-site by accelerating remote monitoring of assets and deploying predictive maintenance.

It is, therefore, a fully integrated asset management platform that uses advanced analytic tools and IoT data to improve operational availability, extend asset lifecycles and optimize performance.

Here are the main characteristics of Utina’s Asset Component:

      • Cloud-based and designed to help increase operational efficiency
      • Direct communication with the asset through APIs
      • Live access to asset data through the portal
      • Provides real-time visibility into asset usage
      • Supports preventive and predictive maintenance needs
      • Live calculations such as residual value, market value, and live asset value.
      • Alerts of misusage, over-usage, and other contractually agreed terms.
      • Insurance and additionally physical condition statuses
      • Embeds Industry best practices

As you can see, the potential of this tool is boundless and can be one of the cheapest investments for the most significant return. It also integrates smoothly with other asset management tools, and it’s scalable!

Are you ready for the next level of productivity?

Reach out and request a demo of our solution to gain complete control over your assets and adopt a KYA strategy that will take you there today!

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