Telecom towers are significant, expensive capital assets. Similar to other assets like properties, stocks, or bonds, managing these capital assets
Sound asset management is the key differentiator between successful telecom tower infrastructure and less-than-ideal infrastructure. Because asset management touches each end and everything in between, it’s essential that you invest the time and energy in properly developing a management plan and adhering to the principles of that plan with each step.
But before we explore how asset management can help you, let’s get into what it is, and why it’s essential.
What is asset management?
Asset management is a process that enables you and your company to keep real-time data on your communication towers and all other necessary equipment and considerations. This is a critical application whether you have one tower or your organization has many towers and continues to grow—as does your critical infrastructure.
Ensuring you have up-to-date information on your communication towers not only enables you to better understand the scope and condition of your equipment but affords a number of other benefits that may not be immediately apparent.
1. Knowing which assets are a part of your tower ensures the most space
Making sure your towers have the space they need to perform optimally is the key. When you have a real-time understanding of your tower’s capacity, you can ensure that any new appurtenances or dishes can be added without additional modifications to the tower. This means that you keep up with demand, and you’re providing reliable infrastructure and services to those who rely on it.
2. Knowing who is renting what equipment means more profit
Setting yourself up to have easy access to real-time information on customers and their rentals means you don’t have to worry about or spend unnecessary time crunching numbers that may or may not be completely accurate.
Real-time data on which customers have rented equipment enables you to understand and predict profit, which in turn allows you to plan or pursue projects elsewhere to extend your reach. Additionally, asset management means you can easily see who is paying and who is not, and then remove any non-paying customers to divert your efforts elsewhere.
3. Knowing your tower’s capacity enables you to fill your tower
Whether you have a single tower or several, knowing each tower’s capacity is crucial for a couple of reasons. First, it gives you the insight you need to decide if it can be filled—or if it cannot. Second, understanding any remaining capacity means the potential for profit. Finally, knowing your tower’s capacity helps you potentially plan for new towers or upgrades to absorb any necessary, additional burden.
4. Knowing your tower’s condition keeps maintenance costs low
Simply, understanding your tower’s condition means that you only invest funds whenever necessary, resulting in more profit and fewer expenditures. For example, if you know that an aging tower is in need of repair, you can plan routine inspections, any associated costs, or time allocations. Routine check-ins limit surprise repairs and, in the event repairs or modifications are needed, you can make them and note those augmentations for any future inspections.
Trust Tower Engineering Company for your telecom asset management
Whether you have one tower or several, TEC has the experience, knowledge, and dedication to help you manage your essential assets. Reach out to us today to learn more about how our services can help you keep your organization moving forward.