Asset Management

Your assets are tracked inside of your locations within Umbrava. During onboarding, we will put in any existing company Asset information that you have into the system. If you replace an asset and need to add information yourself, this article will help you get your asset information set up/updated.

Creating an Asset

To add an asset, there are a few steps to get you to the correct place.

1. Click on the icon at the top right of the nav bar to access the company profile.
   
2. In the company profile, select the locations tab on the left.
3. Select the location of the asset from the location list.
4. Click on the 'Assets' tab at the top of the location profile.
   
5. Lastly, select the '+' button at the top of the asset list to create a new asset.

If you do not have all of the information at creation, you can always adjust and update the information in the asset details page once the asset is created. After selecting save at the bottom of the create asset screen, you will be brought to the asset profile.

Asset Information

General Information

The asset profile is a hub for all information about the asset and the work that has been done regarding the asset. You can review and update asset information from this profile page. The General information section will hold all make/model information that will help with identifying the issues/repairs that could be made to that specific asset.

A vendor can be assigned to an asset to keep the work done on the asset consistent. An assigned vendor will auto-populate when you create a purchase order on a work order that has the asset set for it. The asset auto-assignment prioritizes over the auto-assign set for the location.

Cost Overview

The Cost Overview section of the asset profile is where you can track values for the asset to help the decision making tool properly show where your asset is in its lifecycle. We will go into further details later in this article on how the Decision Making Tool.

Purchase Price - The cost of the asset at the time of purchase.

Book Value - The current value of the same unit.

Replacement Cost - The cost to buy and install a new unit.

Replacement Threshold % - The percent of the Replacement Cost to trigger a warning to replace the unit based on Maintenance and Repair costs.

Additional Maintenance Cost - Historical costs for planned preventative maintenance of the asset. Is added into maintenance costs in Umbrava to get a total maintenance cost for the Decision Making Tool.

Additional Repair Cost - Historical costs for all repairs made to the asset. This cost is added to the value of Work Orders with the asset in Umbrava to get a total repair cost for the Decision Making Tool.

Warranty Overview

The Warranty Overview section holds all dates/information needed to make sure that your asset warranties are being handled appropriately to prevent yourself from accumulating avoidable costs.

You can set separate dates for manufacturer, material, and labor warranties to make sure that all aspects of your asset are being handled and charged for appropriately. The warranty instructions can hold the information on who needs to be dispatched, or reached out to in order to handle the asset and keep your warranty intact.

When a warranty is active (before the warranty dates that are set for the asset), any Work Order with the asset attached will display a warning that the asset may be under warranty, and urge you to check the warranty information. 

Decision Making Tool

On the right side of the asset profile page, we have our Decision Making Tool. This tool takes all of the information that has been added to an asset and calculates the health and status of your asset. We take this information to give you a display of your costs and a quick visual means to track where your asset is.

The top of the Decision Making Tool displays the Location, Client, and date of installation. The status of the Asset is determined by these rules:

New - No Work Orders have been created for the asset and the asset is not past its estimated useful life.

Good Condition - No Open Work Orders and the asset is not past its estimated useful life.

EOL - Less than 6 months from the estimated useful life and no open work orders.

Plan Replace - Replacement Cost > Total Cost > Threshold Amount

Repair - Open Work Order attached to the asset.

Replace - Total Cost > Replacement OR estimated useful life is less than the asset age.

The Maintenance Cost of the decision making tool takes the value of all approved invoices for Preventative Work Orders and the value in the Additional Maintenance Cost field and combines them.

The Repair Cost takes all other Work Order types invoices attached to the asset and the value in the Additional Repair Cost field and combines them.

These costs are combined for the total and weighed against the Replacement cost to help calculate when the asset is due for replacement.

The consumed life meter takes the age of the asset and compares to the Estimated Useful Life field. The meter will show the percentage of the assets life that has passed.

Documents and Notes

Any photo, manual, or file that is relevant to the asset can be added to an asset. This gives you a way to view warranty sheets, or product specs, or any type of media about the asset.

Adding a document is simple, drag in a file over the document page and fill in the required information. Selecting 'Set Public' will make the document visible to any vendor that has access to your assets or have been assigned a work order for that specific asset.

Creating a Note allows you to freeform any additional information that might be needed for the asset. Click the '+' button to add a note. The notes are private to your own company, and vendors will not have access to this information.

Asset History

A history or all work performed on your assets is available in the Asset History page. This page allows you to sort through any work order that has been created with your asset assigned to it. The list can be sorted or filtered to help quickly find specific work that has taken place for the asset.