AUSTIN, Texas--(BUSINESS WIRE)--Accruent, the world’s leading provider of physical resource management solutions, has broadened its software portfolio to better serve a wider range of the telecommunications industry’s needs. As network capacity demands increase due to the need for higher internet traffic speeds, 5G is estimated to be available by 2020, with up to 200 million 5G connections available by 2021. To prepare for the new technology, spending on mobile infrastructure will reach an estimated $2.3 billion in 2021 alone1. Operators and tower companies need to find ways to reduce complexity and increase efficiency as they scale their operations to meet demand. To assist with this market shift, Accruent is launching:
- Lease accounting compliance solutions to save processing costs of real estate and equipment leases;
- Field service management enhancements that optimize resource allocations;
- IoT remote monitoring to manage expenses with remote monitoring of industrial IoT devices;
- Document management enhancements to automate the collection of asset information; and
- Site inspection time reduction with new customizable survey templates.
“The telecom industry is becoming more complex with 5G and increased network densification on the horizon, so Accruent is enhancing how our solutions work together to help telecom organizations scale quickly while maintaining data accuracy,” said Jason Day, VP Telecom & Utilities, Accruent. “With these integrated and broadened solutions, we’re helping telecom companies meet compliance requirements, make smarter resource planning decisions, and improve the customer experience.”
According to EY2, telecommunications entities are expected to be significantly impacted by the new lease requirements and will need to consider contracts where equipment is provided to their customers or leased for operational use. For customers to track and report on leases for real estate and equipment, Accruent offers a proven lease accounting solution. Accruent recently expanded the verification process of our lease accounting solution with respect to the new FASB and IASB lease accounting standards. The procedures tested under the Agreed-Upon Procedures (AUP) engagement provide additional confirmation to Accruent customers of our development inputs, processes and reports.
Accruent is launching a field service management solution to go beyond scheduling and dispatching to help telcos meet business priorities. The solution will forecast high work demand volumes, and automate the contracting and invoicing processes when working with contractors.
As telcos shift towards data-based decisions for managing expenses, remote monitoring of lights, fuel, power and assets takes advantage of IoT to track the maintenance backlog. Accruent has enhanced its software solution for remote monitoring to integrate with virtually any IoT sensor to provide actionable insights into the customer’s data.
Telecommunications companies can simplify the management of engineering or maintenance documents with Accruent’s new document management solution. By controlling access rights to certain documents and editing documents without losing track of multiple versions, customers can ensure that asset information is up-to-date and accurate.
For site inspections, telcos can reduce site survey time with new customizable survey templates. Site surveys via these templates ensures the accuracy, uniformity and quality of collected data. Using a holistic view of site conditions, customers can determine how to increase efficiencies across their portfolio.
With this recent expansion of Accruent’s telecommunications offering, telcos can take advantage of a comprehensive software portfolio that enables mobile/data communications by increasing operational efficiency across the network.
1“5G - Statistics & Facts.” Statista.com, https://www.statista.com/topics/3447/5g/
2“Leases - A Summary of IFRS 16 and Its Effects.” EY, May 2016
Accruent is a global software company that helps organizations achieve superior performance by transforming how they manage their physical resources. Its innovative, industry-leading cloud-based software and services enable organizations to optimize all stages of real estate, facilities and asset management, from capital planning through to IoT-based monitoring and control. With a proven track record across two decades, Accruent has created the only integrated SaaS-based framework and reporting platform for full lifecycle physical resource management. More than 7,000 global customers depend on Accruent solutions to drive out hidden costs, extend asset lifecycles, protect their brands, ensure compliance and deliver on the missions of their organization. Headquartered in Austin, Texas, Accruent serves a wide range of industries in 149 countries around the world.