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A CMMS meets aviation maintenance requirements

In the aviation industry, effective maintenance of all assets is critical to success as the daily operations of numerous businesses rely heavily on the equipment and infrastructure needed to get people where they need to go safely. A best-of-breed CMMS helps maintenance teams remain on top of all fixed asset maintenance, ensuring ease in tracking and scheduling inspections for environmental and safety compliance.

Not only will a CMMS ensure assets are well maintained throughout their useful life, it will deliver peace of mind knowing that millions of people are secure while traveling, especially during the coming busy seasons. Read More…

Plant Services: How to configure CMMS tools to fit the needs of your plant

By David Berger, P.Eng., contributing editor at Plan Services

It used to be said of computerized maintenance management and other systems that you had to shoehorn your business into the system to make them work. Your only other option was customization — either building a software solution from scratch or tailoring an existing software package to your specific needs by writing custom code. Either approach was expensive and time-consuming to develop the initial software and maintain it over time.

However, technology has improved immensely. If you really understand your user requirements, you can usually find a CMMS package that will fit your needs without having to touch the source code. Just look for a modern CMMS solution that provides adequate tools for configuration as described. Read More…

The Economist: Banks big and small are embracing cloud computing

“I’VE only got one IT guy,” says Segun Akintemi, the chief executive of Renaissance Credit, a Nigerian moneylender that opened for business in October 2012 and signed up about 3,000 customers in its first six months. “Whenever I walk past his desk he is surfing the web.” That the firm has just one bored computer specialist is not a sign of backwardness. On the contrary, Renaissance Credit is ahead of its time when it comes to technology. Its information processing takes place in the “cloud”, the term for software and services delivered over the internet.

The emergence of cloud-based banking promises to affect banks big and small. Banks are expected to spend almost $180 billion on IT this year, according to Celent, a consultancy. For the moment cloud-based services make up a tiny fraction of this amount, but by some estimates spending by financial-services firms on the cloud will total $26 billion in 2015. Read More…

It Asset Management for the Education Sector

IT asset management is the process of tracking and managing your district’s IT assets by school, department, etc. Verifying the existence and location of these assets can be difficult and time consuming. As a result, physical audits are often thought of as a tedious task that some school districts choose to carry out as infrequently as possible. However, more and more districts are now implementing inventory tracking systems to manage software, networks, hardware, and the contracts associated with those assets. Without a specialist system, IT asset data will quickly become redundant and assets will eventually become under-maintained and under-utilized. Read More…

Fitch Ratings: Lessors challenged by proposed lease accounting changes

Proposed lease accounting changes outlined in the recent FASB/IFRS exposure draft will significantly alter financial reporting standards for both lessors and lessees. Fitch Ratings expects lessors to face significant challenges in applying the new rules, but the impact on economic fundamentals in the leasing industry will be limited.

Off-balance sheet treatment, which would end for most lessees under the terms of the exposure draft, is only one of many current incentives for leasing assets, as opposed to purchasing them outright. Other key benefits of leasing, such as reduced capital outlays, lower residual risk and portfolio management flexibility will remain in place. Read More…

The Fate of the States

With the number of recent high-profile books on American prosperity, the future of industry in the United States, and the role of municipalities in propelling growth without the support of the federal government, it seems as if the ‘Fate of the States’ is on everyone’s mind these days.

This week, CNBC released their rankings of the best and worst states for business. All states were scored on 51 measures of competitiveness developed with input from business groups including the National Association of Manufacturers and the Council on Competitiveness. Read More…

RAM’s Project4000 module increases efficiency, transparency, and control

RAM’s Project4000 module ensures absolute control of budgets, cash flows, and projects from beginning to end, capturing every aspect of expenditure relating to each phase of the project cycle while maintaining an unlimited number of budgets. The Project4000 module is part of the Series4000 product suite, and many RAMI clients find the software to be invaluable to their daily operations.

In 2008, Sinclair Broadcast Group (one of the largest and most diversified television broadcasting companies) implemented RAM’s Project4000 software, purchasing licenses for 100 users. Prior to that, Sinclair was in the practice of using Excel spreadsheets but challenges and limitations of spreadsheets for a company Read More…

Addressing safety in a maintenance plan

Maintenance is the key to prolonging an asset’s lifecycle, yet all too often, health and safety are not adequately addressed in a maintenance plan. Companies and organizations cannot afford to ignore the potential repercussions of negligence within their maintenance plans. Not only could poor maintenance cause an employee be injured on the job but within certain industries and sectors, an incident involving a customer, student, or patient could be detrimental to the organization’s public image.

The internet is awash with negative reactions to Carnival Cruise’s recent ship breakdowns; “Would you ever go on a Carnival cruise?” is a popular search, and you can guess at the responses the question incites. Read More…

McKinsey & Company: The CFO’s role in the pursuit of growth

The more CFOs contribute to strategy, the more relevant their perceptions of growth may become. That’s a key finding from a recent McKinsey Global Survey,1which asked C-level and senior managers to identify their companies’ biggest strategic challenges—and how effective their CFOs are at driving growth.

Respondents largely agree that achieving sustainable growth is the most pressing strategic challenge their companies face (Exhibit 1). Among CFOs, 86 percent report finding new sources of growth (both organic and inorganic) is a challenge, while 77 percent cite balancing long-term growth with short-term investor pressures as a challenge. Read More…

Government4000 is GASB 34 Compliant

GASB 34 requires state and local governments to report the value of their infrastructure assets (roads, bridges, water and sewer facilities, etc.) in their annual financial reports on an accrual accounting basis. Asset4000G allows government clients to fully comply with GASB 34 guidelines, providing detailed information concerning the costs and conditions of an agency’s capital assets. GASB 34 recognizes two methods for assessing the value of infrastructure assets, the depreciation approach, and a modified approach – Asset4000G fluently addresses both options. Read More…

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