Every Organization’s Asset Performance Is Critical. When an Asset Is Not Functioning Properly Downtime Increases

Every Organization's Asset Performance Is Critical. When an Asset Is Not Functioning Properly Downtime Increases
Asset Management Software | MIRAT.AI
MIRAT Provides the ITIL Suite With a Pack of Incident Management, Problem Management, Change Management, Change Task, and Work.

Every business understands that unanticipated downtime results in a loss. Loss occurs in a variety of ways, including increased maintenance costs and decreased output.

According to a survey, the statistic illustrates the average hourly cost of crucial server disruptions, as reported in a 2019 poll.” In 2019, 25% of respondents worldwide estimated that the average hourly cost of server outage is between $301,000 and $400,000.

How Can We Optimize Asset Management & Performance?

MIRAT software asset management suggests a few tips to enhance asset performance in a variety of ways:

Investing in Downtime

Downtime occurs when an asset is not operational or when assets and equipment are in a standstill state. Downtime can be classified into two types:

1. Conceived

When scheduled downtime is required for maintenance, it is scheduled. Additionally, it increases asset life. Maintenance, machine optimization, and service activities are carried out according to a predetermined schedule. The management staff is responsible for ensuring that inventory is readily available. When planned downtime is carried out exactly, it does not disrupt regular operations.

2. Unpredicted

This downtime disrupts regular operations and may also obstruct other activity. Unplanned downtime occurs as a result of an unexpected asset failure. Most importantly, an unforeseen machine malfunction can wreak havoc on a business. It frequently happens as a result of a lack of upkeep.

In both cases, maintenance is performed on the asset, which results in increased performance, particularly during planned downtime.

MIRAT software application has been proven to reduce 80% of your operational expenses, 20% of outage costs and increase team productivity by 60% and efficiencies by 30%. You can now get your ROI in just 6 months!

How Can Maintenance Costs Be Decreased?

The following strategies can help minimize maintenance costs:

1. Preventative Maintenance

The best recommendation for lowering maintenance expenses is to premium on preventive maintenance, particularly for high-value assets and equipment. Preventive maintenance is performed on a regular basis and includes tasks such as oiling, cleaning, and changing air filters and oil. Apart from this, replacing rusted or worn-out components and installing new ones in the machine.

2. Reports on Maintenance

With the use of reports, you can gain valuable insight into maintenance, which can aid in identifying areas where maintenance costs can be lowered. Identifying non-performing assets is a critical area.

MIRAT’s 360-degree monitoring tool enables you to study spending data and information. Reports enable firms to manage upkeep and maintenance duties that help keep assets in good shape and contribute to the year-round production of high-quality products. This results in improved administration quality and faster response times.

3. Choose Vendor carefully-MIRAT could be the solution to your asset management concerns!

Vendor selection is critical for maintaining control of maintenance costs. When you have an excellent relationship with the seller, they can deliver the merchandise at a reasonable price.

Additionally, the Vendor can alter inventory quantities in accordance with the requirements of the order.

MIRAT, asset management software keeps maintenance costs under control and improves asset performance. Our modules can significantly improve asset performance by

• Management of calibrations

• Establishing alerts for maintenance work

• Ensuring inventory availability

• Maintenance is performed on schedule.

MIRAT emphasizes Proactive Maintenance Solutions as well:

There are numerous inefficiencies that a proactive maintenance solution eliminates below:

1. Tracking Maintenance

Maintenance has the potential to make or break an asset’s performance; in order to do so, maintenance must be performed on time to prevent failure. Maintaining a maintenance log enables you to plan maintenance on time. Additionally, with this software, tracking maintenance is straightforward when you have a large number of assets.

2. Failure of an asset 

The primary issue is asset breakdown, but there is a simple solution: proactively schedule maintenance. Regular maintenance reduces the likelihood of failure.

Visit https://www.mirat.ai/trial.html to access your free 14 trials and evaluate how MIRAT can be useful for your ITSM needs

3. Performance of Assets

Proactive maintenance solutions and computerized maintenance management systems ensure that assets receive necessary maintenance on time. That necessary upgrades are applied to equipment, maximizing the asset’s performance and the return on investment.

4. Inability to Identify the Issue

One of the most fundamental issues is that the maintenance staff is unable to pinpoint the source of the problem. The reason for this is that they do not maintain an asset history.Asset history is critical in maintenance since it enables you to determine when a specific asset was serviced, what the issue was, and what remedy was supplied for the asset!

5. Shortening of the asset’s life

Inadequate asset maintenance has a negative influence on both company and asset performance and health. As a result, the useful life of the item falls.As a result, preventive maintenance solutions and computerized maintenance management software can help your business extend the life of your assets.

Check out Why Is Asset Management Important in a Hospital Set-up?


Maintenance ensures that each piece of equipment operates at peak efficiency and minimizes downtime. When maintenance is performed on schedule, it reduces maintenance costs and results in improved performance.When pieces of equipment are well maintained, positive results such as on-time delivery and satisfied consumers result.

MIRAT is now an artificial intelligence-driven cloud software capable of providing all the packaged tools under one license, offering centralized self-service capabilities with No/minimum staff and remote monitoring capabilities that presently no other competitor is able to serve. The USP of MIRAT.ai is “Automation” of IT infrastructure management that is highly aligned with ITIL and current trends. The IT infrastructure management includes but is not limited to the operating system, database, network, storage, application, middleware spaces etc.

Our pricing plans are very cost-effective (starts at $4 per month) and affordable for startups, SMEs, MSMEs, along with enterprise-level plans for larger firms with more extensive requirements. Visit www.mirat.ai or mail to [email protected] for more information!

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