The Inside Track
we chatted with Geoff Morley, assets365’s CEO to get the inside scoop on all things assets365: The Remote Asset Management Company:
why did you start assets365?
The best reason for starting any company is to provide a solution to a need. We started assets365 because we kept seeing our customers encountering the same problem with their connectivity programs.
The problem is that there is a gap between the ability to generate data and the ability to realise its value. That gap is the ability to design and execute the actions that deliver the benefits of the data.
what exactly is assets365 trying to achieve?
It’s really very simple. Every connectivity program comes with a business case and a desired set of outcomes. But…the resources capable of actually ensuring the business case is delivered aren’t always available within our customers. Sometimes there is a skills gap and sometimes there is a lack of people. We provide the skills, people, and technology to plug those gaps. It’s a service we call ‘Remote Asset Management’.
can you explain ‘Remote Asset Management’ in a little more detail?
Sure. As I say, we believe Remote Asset Management is a combination of skills, people and technology. The skills are those required to design processes and ways of working that leverage the utility of data – things like consultancy for objective and KPI targets, workflow design, data solution architecture, data analysis, etc. Then there are the people who actually execute some of the services that leverage the utility of the data – people who monitor, schedule, call, report, etc. Lastly there is the technology that supports this manner of working with an enterprise customer and OUR key technology value is provided by Control Tower.
what is Control Tower?
Control Tower answers the need that our more data-savvy customers have been asking for an answer to. To achieve the most innovative and impactful insights, and thus realiase the value in connectivity programs, an enterprise needs to aggregate external and internal data. By necessity, all the initial market offerings have been ‘closed-loop’ services whereby data from a single source is analyzed in isolation. The trouble with this, is that it leads to multiple single ‘siloed’ solutions managing customers’ data in a highly decentralized and ungoverned way.
To take advantage of the shift from a product-centric IoT approach to a more data-centric one, Control Tower can best be described as an operational data space – this functions as a work space to leverage many of our customers’ data sources in combination… for example, connected device data can easily be queried alongside the likes of CRM or SFA data. The results of these queries can then easily be distributed into the field via mobile API.
the industry has been looking at connected assets for quite a while, why do you think that now is the right time to invest in connectivity?
I’ll answer in a different way. I still think the right time to invest was several years ago, as having an asset fleet that is mostly ‘connected’ is important to support, broadly realized, operational efficiencies. But with that caveat, I will say this to anyone not considering investing in connectivity… your competitors are without doubt creating data-driven operations that maximise efficiency across the enterprise. It will be pretty tough to compete without that source of knowledge at your fingertips.
what makes assets365 different from other companies leveraging data from connected assets?
I’m honestly not sure if other companies ARE leveraging data from connected assets. Many are making the data available but that in itself is an easy thing to copy and commoditize. Actually, making the data ‘sweat’ to see a return is a completely different challenge. I just don’t see many other companies doing that right now.
what sort of reception have you received from potential customers? how do they react to what assets365 is offering?
We’ve had a very good reception. We are not looking to make wholesale changes, simply to improve the way certain things are done. We don’t need to own entire solution, we are looking at where the gaps are in each instance and then we are plugging them. From all the feedback so far, I can say for certain that there is a need for a company doing what we do.
what do you see as the future for assets365?
We want to create a future where customers can invest in connectivity programs with confidence. Connectivity programs should be about excellence in execution, not wondering how they get executed in the first place.
Beyond our immediate customer base, there are many opportunities to help manage the monetization of assets across multiple industries. For so many enterprises, the IoT journey is just beginning and we’re really excited about helping them to make that journey a profitable and enjoyable one.