ACCRUE: An Effortless Remote Asset Management Solution

By admin_user In Remote Asset Management On July 6, 2023

How ACCRUE Transforms Remote Asset Management?

The primary objective of any plant is to minimise the occurrence of failures. A high-performing business that strives for improved outcomes will undoubtedly engage in quantifying, tracking, measuring, and monitoring its assets. Managing equipment and machines is essential for this purpose, and hence, adopting an IoT-based remote asset management solution is necessary. 

High operational costs often lead to high expenditure, which can be prevented through the implementation of a remote asset management system. The key to maximising profitability lies in the efficient utilisation of assets for the manufacturing sector.

However, in this digital era, numerous industries have successfully reduced costs, optimised production, facilitated faster communication, enhanced plant automation, and achieved remote monitoring and analytics of assets. This has been made possible by Rejig Digital with its IoT-based remote asset management solution-ACCRUE. 

Now, let’s delve deeper into the various aspects of Accrue. 

Accrue- A Brief Introduction

Accrue is an IoT-based remote asset monitoring and management solution by Rejig Digital. The primary goal of Accrue is to streamline the implementation of operation and asset maintenance remotely. 

By leveraging the data collected through sensors, Accrue verifies if the recorded values exceed or remain below the predetermined value. This capability of Accrue empowers businesses to respond in real-time which leads to fast mitigation of equipment failure risks or potential harm to the system.

Why Do You Need Accrue?

Accrue facilitates precise, data-guided choices through the remote monitoring of vital equipment and machines which supports asset management. The benefits of Accrue asset management and monitoring solution are as follows:

1. Monitoring: Through real-time sensor-based monitoring of your assets, operations, and environmental conditions, you can promptly respond to any possible machine malfunctions.

2. Management: By integrating data with workflows, you can effectively manage maintenance operations.

3. Optimisation: By leveraging historical data, you can enhance the reliability, utilisation, and efficiency of your assets.

How Does Accrue Remote Asset Monitoring & Management Platform Works ?

  1. The remote asset management solution-Accrue- comprises several key components, including sensors, PLC/HMI, industrial equipment/machine, connectivity, IoT gateways/controllers, and an RMM platform.
  2. To enable data collection and communication with Accrue and the RMM platform, assets are equipped with or connected to sensors and controllers. It facilitates the implementation of key performance indicators (KPIs).
  3. Accrue configures assets to monitor critical health, process, or condition-based maintenance (CBM) parameters. These assets are then analysed to assess their performance.
  4. For an efficient remote monitoring solution, assets are connected to a cloud-based application using Wi-Fi, LAN, or GSM which facilitates uninterrupted data streaming.
  5. Accrue has a built-in IoT gateway controller that performs essential tasks such as data aggregation, normalisation, enrichment, and analytics. It enhances the monitoring and management of assets.
  6. Accrue includes an engine for implementing logic for process automation, workflow management, big data processing, and data analytics.
  7. The next step is a combined approach utilising IoT and AI to conduct condition-based monitoring of assets. This enables predictive and prescriptive maintenance of machines.
  8. To provide users with convenient access to updates, Accrue displays important equipment health-related indicators on both the dashboard and the mobile app.
  9. Real-time reports can be generated through Accrue to monitor trends and perform historical analysis of various factors such as runtime, cycle time, condition-based maintenance, and asset utilisation.

Top Features of Accrue

Remote Asset Management

  • Centralised Monitoring

With remotely connected assets and autonomous, centralised monitoring, Accure offers efficient maintenance of the assets. It results in reduced operating costs and effective disaster control. Centralised monitoring also allows the scheduling of maintenance based on real-time data.

  • Asset Utilisation

Effective asset utilisation is essential for high productivity and enhanced efficiency. It shows how assets are utilised in the plant or unit. As a robust asset monitoring tool-Accrue- helps businesses to achieve the maximum output from their assets.

  • Asset Condition Monitoring

Accrue collects real-time data on the environmental and physical conditions of the equipment. It provides actionable insights to businesses and enables users to schedule maintenance and repair of specific equipment for improving the condition.

  • Asset Workflow Automation

Accrue can keep track of all assets and facilitate the users to streamline various operations. Hence, it simplifies complex processes and automates the workflow which increases productivity. 

  • Predictive Maintenance

Accrue can integrate with advanced analytics to collect the data from equipment sensors and enables it to repair or replace any of the components just before they fail or are damaged. The JIT (Just-in-time) maintenance approach can reduce the parts and labour costs as well as asset outages.

  • Advanced Analytics and Reporting

Accrue provides customised reports related to assets, which include comparison reports, asset performance reports, and many similar details. The advanced analytics feature provides real-time reports and other necessary data at scheduled intervals that help in making informed decisions and maintaining high productivity.

How Accrue Overcomes Key Challenges

Remote Asset Management

Accrue addresses several important challenges faced by various industries. Here’s how it overcomes each challenge:

  • Limited Control Over Assets

Our remote asset management solution enables businesses to have better control over their assets by providing real-time visibility and monitoring. With IoT sensors and devices deployed on assets, businesses can collect data on asset performance, condition, and utilisation. This data is transferred to a central platform which allows asset managers to remotely monitor and control their assets. With instant access to asset information, businesses can make informed decisions, optimise asset usage, and proactively address issues.

  • Sudden Machine Breakdown

Accrue leverages predictive analytics and condition monitoring to detect anomalies and potential failures in machines. By continuously collecting data from sensors embedded in assets, patterns and trends can be analysed to identify signs of breakdowns. It enables proactive maintenance which reduces unplanned downtime and minimises the impact of sudden machine failures on operations.

  • Unconnected Silos of IT and OT

The convergence of Information Technology (IT) and Operational Technology (OT) is a significant challenge for industries. Accrue can bridges this gap by integrating IT systems with OT devices and equipment. Through standardised protocols and data exchange mechanisms, Accrue can seamlessly connect and communicate with various asset management systems. This integration facilitates centralised data collection, analysis, and decision-making, breaking down silos and enabling holistic asset management.

  • Loss of Data

This IoT-based remote asset management reduces the risk of data loss by utilising cloud-based storage and backup solutions. Instead of relying on local storage systems that may be prone to failures or accidents, critical asset data is securely stored in the cloud. It ensures data resilience and availability, even in the event of hardware failures or disasters. In addition, robust data encryption and authentication mechanisms are used to protect sensitive information which reduces the risk of unauthorised access or data breaches.

  • Lack of Sophisticated Reporting System

Our IoT-based remote asset management platforms offer advanced reporting and analytics solutions. By leveraging the real-time data collected from assets, Accrue can generate comprehensive reports on asset performance, utilisation, maintenance history, and other relevant metrics. These reports provide valuable insights for decision-making, asset optimisation, and compliance. The integration of data visualisation tools and customisable reporting features enables businesses to customise the reporting system to their specific needs which provides them with actionable insights.

Key Benefits of Accrue

Remote Asset Management

With Accrue, businesses can experience streamlined and efficient asset management in minimal time.

Have a look at the major benefits of Accrue’s remote asset management solution.

  • Real-Time Information

Our solution allows businesses to acquire real-time information, which plays a crucial role in the planning of future events. By incorporating Accrue, businesses can experience rapid growth through smart planning. Managers responsible for asset management services can utilise real-time information and analytics to enhance business operations, track assets, and more. As a result, it opens opportunities for increased returns on investments.

  • Reduced Human Intervention

Accrue utilises sensors that facilitate asset tracking, reporting, analytics, and other related tasks which simplifies asset management. It eliminates the need for human involvement since all asset information can be easily tracked through the attached sensors. These sensors generate data, which is then transmitted to a cloud platform at regular intervals, or as programmed by the asset manager.

  • Asset Optimisation

Furthermore, the integration of Accrue in your asset management can result in efficient asset optimisation. Asset managers can analyse asset performance to determine if it meets expectations. If the performance is not up to the mark, various preventive and predictive maintenance measures can be scheduled to optimise the assets.

Wrapping Up

With its user-friendly interface and powerful features, Accrue empowers businesses and individuals to effectively monitor, track, and optimise their assets, irrespective of their physical location. The platform’s real-time data visualisation, comprehensive analytics, and remote capabilities provide an exceptional level of control and efficiency for asset-intensive industries. 

With this Accrue remote asset management solution, you can gain a competitive edge, boost productivity, and unlock new possibilities in managing your machines and equipment. 

Remote Asset Management