Many companies which have assets on premise or are spread across geographies have a horde of problems to deal with. Like poor health of assets, excessive maintenance costs, high mean time to repair, theft, pilferage, underutilization, under performance and more. Spectro Systems IoT-enabled Smart Asset Management brings in a more holistic approach to asset management and asset monitoring rather than a module-based approach. Our IoT-enabled Smart Asset Monitoring provides the right visibility for organizations to overcome these challenges. The key advantage of Spectro solution is the ability to get to the domain data and seamlessly integrate it with a unified solution so that the management has insights to make the right decision. IoT solutions bring in the inherent value of Automation, Innovation, and Digital Transformation.

A. Automation

Traditional solutions brought in a lot of information but lacked insight. There was a lot of human involvement, offline data crunching, and iterations to perform actions. The time lag made lot of actions either reactive or excessive/preventive.
Spectro solutions connect machine with people, with processes and systems in ways like never before. This facilitates automation. The human intervention is needed only for decision making rather than performing mundane tasks, rule-based preset actions, measuring field data, collecting audit logs for regulatory compliance. The primary advantage of Smart Asset Monitoring is automating all of this. Thus, increases the accuracy, reduces cost, improves process efficiency and eliminates non-compliance. Physical checks, routine tasks and periodic monitoring can all be reduced drastically and now be made based on the actual condition and usage of the asset.

B. Innovation

With Spectro Asset Tracking, the possibilities of bringing in innovative value-add with Smart Asset Management is endless. Data analytics at the edge help real-time and near real-time decision making with the help of machine learning and other advanced intelligence. Data from multiple machines integrated with information about the product usage can unlock new insights which were never seen before. This will enable the management to come up with innovative decisions and solutions to face the common challenges that their business has been facing for many years.

C. Digital Transformation

Digital age businesses are transforming themselves to uniquely combine product and service to offer their product as a service. An Spectro Asset Tracking is a key to bring in new service lines or new business models into the company.
Traditionally, the company’s physical assets which were seen as a cost or a burden in the balance sheet can now be effectively managed to bring in additional revenue. With more data, control and insight a company is able to look at trends where they can identify new market opportunities. Capitalizing on those opportunities can bring in more revenues to the company.