AssetLab Canada Blog: Asset Management Trends & CMMS Best Practices
Insights, guides, and product updates
Stay informed with the latest trends in asset management, CMMS best practices, and industry insights from the AssetLab team. Check out latest AssetLab news and updates.
How to Create an Asset Management Plan: Complete Guide
Step-by-step guide to creating an asset management plan using ISO 55000 and IPWEA/IIMM frameworks. Covers Ontario O. Reg. 588/17 compliance, levels of service, lifecycle strategies, and financial planning for Canadian organizations.
How to Improve Your FCI Score: A Practical Guide
Learn 5 proven strategies to lower your Facility Condition Index, reduce deferred maintenance, and build a multi-year FCI improvement plan. Includes sector-specific guidance for Canadian municipalities, schools, healthcare, and commercial properties.
Best Asset Management Software in Canada (2026)
Most asset management platforms are built in the US, priced in USD, and designed for American workflows. This practical guide covers what Canadian organizations should look for—from data residency and CAD pricing to local support and compliance features—and how the few Canadian-focused options compare.
The Excel Trap: How Public Infrastructure Teams Waste 400+ Hours on Data Transfers
Why municipalities are stuck in a decade-old workflow of exporting CMMS data, working in spreadsheets, importing to project management tools, and manually updating records. Discover how integrated asset management breaks the circular data flow that costs public works departments hundreds of hours and thousands of dollars annually.
Asset Replacement Strategies: From Reactive Chaos to Strategic Control
How data-driven replacement planning transforms emergency failures into scheduled investments—saving organizations 30-40% while eliminating budget surprises. Learn the 5 fundamental replacement strategies and discover how AssetLab's Planner module automates priority-driven planning for both assets and systems.
The Forest and the Trees: How Smart Asset Classification Transforms Facility Management
How AssetLab's hierarchical classification system lets you see your entire portfolio—and every individual asset—at the same time. Discover why the dual system/location hierarchy transforms capital planning, compliance tracking, and portfolio management.
FCI Forecasting: See the Future of Your Facilities
How 10-year FCI forecasts for Sites and System Classes turn capital planning from reactive crisis management into strategic foresight. Track everything from printers to HVAC to bridges—find any asset category in 2 clicks, and see exactly when capital cliffs are coming.
FCI or Depreciation: Which Metric Is Right for Your Facility?
Understanding the difference between condition-based and age-based asset tracking—and why AssetLab lets you choose both. Facility Condition Index measures maintenance needs. PP&E Depreciation tracks financial value. See how combining both views transforms capital planning.
Introducing System-Based Compliance Tracking
Never miss another compliance deadline. AssetLab's new compliance module transforms how you manage regulatory requirements like Refrigeration Safety Plans—automatically tracking work completions, calculating compliance scores in real-time, and providing instant audit-ready reports.
FCI Scores: The Single Number That Predicts Facility Failures
How Facility Condition Index tracking transforms reactive maintenance into predictive capital planning—giving you years of advance warning before assets fail.
Understanding Asset Management Software Features
Asset management software is designed to streamline operations, improve efficiency, and reduce costs. Key features often include asset tracking, maintenance scheduling, and reporting capabilities that help organizations make informed decisions regarding their assets.
For instance, effective asset tracking allows organizations to monitor the lifecycle of each asset, ensuring optimal use and timely maintenance. Additionally, robust reporting tools can provide insights into asset performance, enabling proactive management and strategic planning.
Best Practices for Implementing CMMS
Implementing a Computerized Maintenance Management System (CMMS) requires careful planning and execution to ensure it meets the needs of the organization. Establishing clear goals, engaging stakeholders, and providing adequate training are fundamental steps in this process.
For example, organizations should define specific objectives, such as reducing downtime or improving compliance, to guide the implementation. Furthermore, involving team members from various departments can foster greater acceptance and utilization of the CMMS, leading to better overall results.
Trends Shaping the Future of Asset Management
The asset management landscape is continually evolving, influenced by technological advancements and changing industry demands. Trends such as the integration of IoT devices, AI analytics, and mobile accessibility are shaping how organizations manage their assets.
For instance, IoT devices can provide real-time data on asset conditions, allowing for predictive maintenance and reducing unexpected failures. Similarly, AI-driven analytics can help organizations identify patterns and optimize asset utilization, ensuring that resources are allocated efficiently.
Case Studies: Successful Asset Management Implementations
Examining real-world case studies can provide valuable insights into successful asset management implementations. These examples highlight the challenges faced by organizations and the strategies they employed to overcome them.
For instance, a municipality that adopted a comprehensive asset management strategy may have seen a significant reduction in maintenance costs and improved service delivery. By analyzing such case studies, other organizations can learn best practices and avoid common pitfalls in their asset management journeys.