Geospatial Analytics Service InSite™ identifies opportunities for facility owners to consolidate engagements with service providers. This can include:
- Purchasing more types of services for a single service provider (i.e., rationalization)
- Obtaining more of a single service type from one provider to obtain volume discounts
- Identifying “should-cost” pricing
- Reducing markups by purchasing directly from the service source
To calculate these savings, estimate the percentage of services (by dollars or by number of units serviced) to which you can apply one of the above approaches, and the assumed percentage of pricing reduction. You can then apply this percentage to the applicable current dollar spend by service type, facility, or enterprise-wide.
Geospatial Analytics Service InSite™ enables facility owners to apply a consistent process and standard for making decisions to engage with services providers, as an alternative to ad hoc decision making based on criteria that may not be quantifiable. Using definitions of service attributes (e.g., cost types, delivery times, and performance measures) and the track record of services providers used, the tool enables objective decision making based on enterprise-wide standards.
To calculate these savings, estimate the percentage of services (by dollars or numbers of units serviced) for which you can engage with service providers using more objective criteria, along with the assumed percentage of cost reduction. You can then apply this percentage to the applicable current dollar spend by service type, facility, or enterprise-wide.
Reduced Total Cost of Asset Ownership by Optimizing Services
Geospatial Analytics Service InSite™ enables facility owners to optimize asset servicing-vs.-replacing decisions across asset types, individual facilities, and corporate portfolios. By transforming data into business intelligence on asset condition and service provider value-add, sophisticated analytics can improve processes. For instance, preventative maintenance services can be reduced for assets with very low operational risk. As a result, the tool helps facility owners minimize the total cost of asset ownership — including acquisition and operation, maintenance, repair, and other services, as well as disposal of their assets.
Geospatial Analytics Inspection InSite™
To estimate cost savings due to enhanced risk management, you can select a critical function such as call center, data center, or critical manufacturing assembly line. Then assume that increasing the frequency and/or quality of service avoids an outage of this function for some period typical of a critical equipment failure. You can estimate the outage cost of that failure using past cost data you have gathered or by other measure, such as loss of sales.
Improved Risk Management
Geospatial Analytics Service InSite™ enables facility owners to perform risk management analysis. Risk is the product of the probability of an occurrence and the impact of the occurrence. Your risk tolerance is likely to vary from service type to service type, and from one type of asset service to another.
For example, if the probability of failure of a specific type and age of HVAC systems is constant, but the impact of this HVAC failure in your data center is much greater than the impact of the HVAC failure in your office or warehouse, then the risk is higher for the data center HVAC system. Therefore, with a limited budget, you would prioritize a higher frequency of servicing for the HVAC system serving the data center (to avoid a failure) than for the warehouse HVAC system. While the decision in this example is straightforward, it is a much more complex exercise when dealing with a wide range of service types for tens of thousands of assets that support hundreds of different facilities. Sophisticated analytics are needed to evaluate the data and help form an optimized budget that maximizes the value creation within limited financial constraints. Geospatial Analytics Service InSite™ enables you to make these and other critical evaluations based on service provider, asset data, and a risk-informed process.
To estimate the cost savings due to enhanced risk management, you can select a critical function, such as a call center, data center, or critical manufacturing assembly line. Then assume that increasing the frequency and/or quality of service avoids an outage of this function for some period of time typical of a critical equipment failure. You can estimate the outage cost of that failure using past cost data you have gathered, or by other measures, such as loss of sales.
