Flowlens & the Global Asset Management Industry
Flowlens is an integrated, cloud based CRM, ERP and Service platform. This joined-up thinking ensures that you have full visibility of the whole customer and asset lifecycle. This increases profit margins, improved asset yield and upsell, a significant reduction in wastage while providing an improved customer experience. Global Asset Management companies often have issues with:
- Tracking Assets Globally
- Ensuring Yield and Profitability
- Managing Compliance and Service activity
Flowlens has worked with organisations such as Survitec Group and Lowe Refrigeration to provide a solution that enables them to have full visibility and control of the asset lifecycle. Flowlens’ solution includes many features that enable Global Asset Management firms to unleash their potential such as:
- Asset Register
- Rental and Service Management
- CRM and Asset Yield Reporting
Global Asset Management firms receive multiple enquiries and orders from customers all over the world. Without a clear, effective and joined-up CRM system this often results in:
- Sales Executives talking to many potential customers, often using spreadsheets to track progress, which is admin heavy.
- Extensive liaison between Sales and Operations to ensure that the equipment needed is at the correct location.
- Reporting being difficult or non-existent.
Flowlens supports the challenges Global Asset Management organisations currently face, such as:
- Maximising revenue from existing customers.
- Making honest, accurate promises to the customer.
- Identifying new opportunities or markets in which to grow.
Therefore, leads must be suitably qualified, and sales executives must be equipped with the skills and information required for preparing proposals, such as lead time.
Flowlens CRM provides a complete view of the customer. Reliable information brings clarity to the sales process, with an overview of what qualified leads are in the pipeline and what is likely to convert. Likewise, accurate, real-time reporting enables management to identify potential new opportunities or any recurring issues.
Operations & Rental
When it comes to operations, many firms use systems that do not have the required complexity and/or functionality. Therefore staff have to manually intervene numerous times to implement workarounds which distract them from value added tasks.
Sales Order Processing (SOP), Goods Received Notes (GRN) and Inventory are typically managed through inadequate off-the-shelf systems or paper and spreadsheets. Inventory levels are rarely up-to-date resulting in stock shortages or surpluses of stock “just in case”.
Dispatch, Returns and Inspections are manually processed making it almost impossible to track asset utilisation, history, damage, refurbishment or depreciation. Therefore these Global Asset Management organisations have very little traceability of the assets lifespan.
As Flowlens is built around central contact databases, information gathered by Sales is shared with Rental & Operations. Operations can see what stock is required, where it is needed and when. As SOP, GRN and Inventory are managed in ‘real-time’ firms can automatically keep an optimum stock level. This shared visibility also enables relevant orders to be grouped together enabling a streamlined dispatch process.
Information from the returns and inspections process is captured in real-time within Flowlens, enabling complete traceability of the asset and enabling invoices to be raised for any damages.
At departmental level, Flowlens allows Managers to view the pipeline, trust the information in it and understand what leads are likely to convert enabling them to plan ahead. At a higher level, management can also make informed decisions such as staffing arrangements based on upcoming workloads.
Many firms fail to capitalise on potential revenue streams by proactively marketing and selling service contracts, spare parts, preventative maintenance and ongoing operator training.
Typically, servicing is a manual process, where engineers service piece of equipment, such as a life-raft, using paper. This is passed to administration to be put into spreadsheets making it difficult to track the assets lifecycle. This means that:
- They cannot upsell on spare parts or make sure that the right parts are used.
- They cannot carry out preventative maintenance by accredited technicians.
- Issues with parts cannot be identified due to lack of analytics and reporting.
Flowlens allows you to track the asset and update its service history on the road, removing paper and data duplication. Engineers can also provide valuable insights into what the customer may need in the future, potentially providing future sales and revenue.