11 Sep 2017

Cloud-based asset management service is aimed at test instruments

Microlease Ltd has unveiled its updated asset management software named LEO 2. The new LEO 2 software is a cloud-based Asset Management solution, which can be used to manage any moveable or fixed asset, including test instruments.

In many organisations, asses are not efficiently managed - many engineers can remember spending hours looking for an item of test equipment that is somewhere on site, and then have to buy or hire it to be able to use one. Another issue is that many companies have excess inventory on site - some companies have even been known to have to rent additional space for storage of unused equipment.

Effectively managing test equipment assets enables the inventory to be increased - many companies find asset usage levels of 20 to 30% are typical, whereas higher levels mean that the investment can be sued far more effectively.

LEO 2 allows every business to implement through-life management of its assets, creating an accurate inventory of assets held, managing the acquisition of further assets, the maintenance of the asset base, and the identification and disposal of surplus equipment.

LEO 2 captures Microlease’s asset management experience built up through the management of its own wide-ranging rental fleet. The LEO 2 package offers complete management of internal and deployed assets such as instruments. LEO 2 supports the creation of an accurate inventory of all assets held, tracking configurations and reducing turn-around times. It provides complete visibility for the maintenance of the asset base including spares, and communicates this information through the use of a secure shared logistics framework offering innovative KPI dashboards and standard reports.

“Too often, major financial decisions on the acquisition and divestment of fixed assets such as test instruments are made without adequate data on lifetime costs and utilisation. Data is held in spreadsheets that are not necessarily up to date and don’t always provide a complete picture. LEO 2 is a single centralised database which provides clear visibility of assets and physical tracking with easy dashboards, giving a clear picture of the asset investment and its current status including configurations, capabilities, condition and location,” said David Whitfield, CEO Asset Management Services, Microlease. “The structure of the database captures Microlease’ extensive expertise in ‘Through-Life’ management of assets, allowing customers to optimise their asset base for their business and improve performance.”

LEO 2 is a combination of specialist software built on Microlease expertise, helping customers manage complex challenges and asset configurations. Modules capture data relating to asset detail and configuration, asset movements, tracking and logistics, calibration and repair management, real time management dashboards, and utilisation management. It features a completely new and intuitive interface that allows users to search for parts, assets and locations quickly and easily – drilling down to the exact building and the rack where an asset is being held.

Although the LEO 2 software is very important, so too is the change in company culture, where an attitude of sharing is important. All too often engineers hang on to equipment for fear of not being able to find another unit, if they let their current one go. If assets are managed effectively, this should not be an issue.

Data driven workflows enable users to configure LEO 2 to reflect their in-house processes. Its’ open database is built on Oracle technology compatible with SAP, Oracle E-Business Suite and other major ERP and financial systems. LEO includes standard MoD form reports and KPI dashboard.

Microlease is offering LEO 2 in three formats. LEO Standard for customers who simply want to log and record assets and access basic asset management functions. LEO Select which in addition allows customers to understand utilisation by tracking assets and LEO Elite which provides full management of assets through workflows. LEO Standard and Select are cloud based, and LEO Elite can optionally be hosted internally or via MoD secure cloud.

According to Microlease, the LEO 2 asset management software normally pays for itself very quickly and in this way enables capital expenditure to be used for more effectively.

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