08 December 2017

From Service Provider to Asset Manager

In 2016, Istimewa called on the consultants from Stork Asset Management Technology to help them further professionalize their own asset management. The Stork consultants help to develop another way of thinking and working.

The first steps in that direction had already been taken years ago with the introduction of the Ultimo maintenance management system, which makes use of tablets to gather and utilize maintenance information. That may have taken some getting used to for the technicians and the organization itself: they have to let go of the "reset culture”. But it presents a clear competitive advantage as a smarter way to conduct maintenance activities.

During the professionalization process, the role of the Maintenance Engineer was introduced. It entailed troubleshooting the facilities and adapting maintenance planning and activities. Good data management is also essential, but it is not the whole story. Organizational processes have to take place in a structured manner.

Stork Asset Management Technology analyzed Istimewa's organization in order to determine what areas needed improvement.

The analysis included an evaluation of whether all of the relevant asset management processes necessary for the realization of the asset management objectives were actually present and ready. That includes primary asset management activities, such as policy and strategy, conceptualizing and planning, implementation, measuring results and analyzing them, as well as continually improving both the client's assets and their associated internal asset management processes and systems. This analysis took into account the applicable guidelines and also assessed the extent to which Istimewa's trade basis has been risk adjusted.

This resulted in an asset management manual with well-documented work processes, which forms the basis of Istimewa's asset management system. Support from the Ultimo maintenance management system has also been expanded.

Asset management implementation process at Istimewa

Greater awareness among the employees and implementation of improvements are both processes that require constant attention in order to create more stability for the organization, to further professionalization and to grow towards a more proactive business style. This is happening at the management and implementation levels at the same time. The Stork asset management model has become a shared language that simplifies internal communications. These developments have put Istimewa in a better position to conduct conversations with their clients who are interested in that, and better enables them to supply customers with tailor-made service. Thanks to this long term vision and by conducting business differently from their competitors, Istimewa intends to further set themselves apart in the market and to continue to evolve from their role as service providers to asset managers.

The author

Principal Consultant Stork Asset Management

Joris Grimbergen

Joris Grimbergen is a principal consultant and assists businesses in developing their asset management strategies, concepts and implementation, among others

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