Engineering and construction company Georgiou Group’s growth to a company turning over more than $460 million per annum has prompted it to invest in technology to support its activity.
The company has contracted global software developer IFS to implement a company-wide software system that will not only enable it to track assets in a central location, but also predict costs - such as how much a certain piece of machinery will cost to run.
The software - called IFS Applications - will replace Georgiou’s previous systems which consisted of a combination of internally-developed databases and spreadsheets used to manage assets.
The company said its growth had surpassed the point where the previous system was appropriate, and so it took the decision to invest in the enterprise asset management software.
Once the phased implementation is complete Georgiou employees will be able to view assets in one centralised system, which will also be accessible on any device including smartphones and tablet computers.
Georgiou general manager plant Nigel Lauriston said the software would also make employees more accountable.
“With IFS everyone can see what is going on and what impact they are having on the cost of running the company,” Mr Lauriston said.
“We are also making our support roles more productive by analysing and acting on information rather than just entering it into a database.”
The system will also be able to predict the costs of operating equipment and produce accurate budgets.
“Right down to our fuel burn, what we are chasing is the true cost of running a piece of plant,” Mr Lauriston said.
“Whatever activity the plant is working on, we will know the true cost of the operator, the fuel, any damage or maintenance and see the true lifecycle cost.”
