Adapt Solutions successfully delivered a real-time valuation software solution |
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Written by Nigel Sheed
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Monday, 02 July 2012 20:17 |
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Adapt Solutions recently helped a local government body achieve the systemisation of their asset valuation process. Traditionally, not enough time goes into the accuracy of the data and process producing an asset valuation. Adapt and their client has shown that the financial implications of not being robust in this process to be immense. Adapt’s client now benefits from the following. - The council now has the ability to produce subsequent valuations in real-time directly from Adapt software. In the past this was achieved on duplicated data outside of core asset systems.
- The council has tightly coupled the Adapt valuation model to their asset inventory. Council can exploit any of the asset attribute, condition or work management data available. Attributes can then factor in the valuation formulas as did dewatering and asset surface cover in this valuation. Council now has the ability to trial the inclusion of different attributes into the valuation model as data becomes available. There is no limit to this. In the past this could not occur as the valuations were performed on a copy of data containing a limited profile of attribute information.
- The valuation can be replicated. In the past it would have been difficult to reproduce a valuation run. The outputs rarely contained all the inputs that factored in the valuation formulas. From an auditing and transparency point of view this made it difficult to trace a valuation output back to its data state at the time the valuation was derived. Council and Adapt has improved this practice. The 2011 valuation output in its raw form contains all the building blocks (inputs) used to actually derive the outputs (replacement costs, depreciation, etc). This means any asset in the valuation can be viewed as it was at the time the valuation was struck.
- For the first time council has introduced a systemised approach to managing unit rates (replacement costs) and expected life values. This data is now stored in Adapt software. Any change made to these values is tracked in the software and reportable. If council decides to increase a unit rate, say PVC-U increase by $10/m, then this is captured in a managed way and the change is written to a history log. Then the next time a certified valuation is struck under this improved approach council will be able to report on ‘change’, not only change in terms of asset additions, deletions and expiry but also change in unit rates when compared to prior valuations. Following completion of the 2011 valuation, procedures have been completed to ensure a transparent method of explaining change from one valuation to another is available.
- Council has introduced business rules in the Adapt software to manage when an asset record is added or updated. These rules help to enforce greater integrity into the data being captured, i.e. forcing a diameter attribute to be picked from a defined list. These business rules allow council to rely on the fact the asset inventory is being kept up to standard which enables a valuation to be struck at anytime, thus avoiding the need to address data gaps reactively in order to produce a valuation.
Adapt Solutions successfully delivered a real-time valuation software solution. The solution now provides Council with the ability to model changes in asset age (quality, condition etc.), installation characteristics (depth, groundwater, material etc.) and physical contractor replacement value. The solution provides financial reporting for over 70 networks, linked direct to council’s main financial database with substantive additional details including multi-level renewals data. |
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Last Updated ( Tuesday, 03 July 2012 08:22 )
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Integrated Asset Management Systems become a reality with Xivic Version 5 |
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Written by Nigel Sheed
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Saturday, 07 August 2010 21:24 |
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Adapt Solutions is proud to present Xivic Version 5. Increased usability and even more customisation abilities headline this new version. In addition, this version marks a firm intent into data visualisation, giving greater exposure of Asset Management information. Xivic V5 makes it possible to present data sets in powerful new ways. The spotlight is placed on the errors in data sooner which prevents those annoying reactive data clean ups when the data is actually needed. As a result, tools are available to turn flat data into business knowledge. Improvements in the stock standard principals of Xivic are apparent. Business rules can be changed on the fly to ensure data is captured once and captured right. Integration gets easier, cheaper and faster. These fundamental principals allow Xivic users to truly achieve an integrated asset management solution.
New customers are going to find it easier to convert to Xivic. The implementation methodology has been enhanced with a migration utility. This means a more transparent, accurate and faster conversion of information to Xivic schemas. Highlights of Xivic V5 - A client can brand their solution with their own styled theme.
- Moulds to the tasks a specific user needs to perform.
- Customisable searches ensure fit for purpose data access - quicker retrieval of information.
- Dashboards are integrated with searches to tell the big-picture story.
- Tabs have been introduced to increase the usable real-estate.
- GIS anywhere – add the power of a map anywhere that it is useful.
- Editable data girds for faster data entry.
- Client administrators and programmers have even more tools available to complete change, enhance and integrate their Xivic solution.
- Editing the application functions and appearance on the fly has been made significantly easier via the code editor.
- Visualisation tools have been introduced to assist number crunching and advanced asset management practices.
For more information about Xivic Version 5, simply drop an email or call your closest contact. 
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Last Updated ( Monday, 09 August 2010 19:04 )
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Adapt Solutions Launch XIVIC |
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Thursday, 19 November 2009 20:00 |
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Adapt Solutions is pleased to announce the launch of the XIVIC forward thinking brand. All of the Adapt Solutions asset management software is now marketed under XIVIC. 
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Asset Management Conference highlights data accuracy! |
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Written by Nigel Sheed
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Friday, 10 April 2009 09:07 |
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Thanks to all of those people that took the time to talk to us at the 12th Annual Local Government Asset Management Conference in Auckland. We enjoyed meeting some new people and connecting with familiar faces. A couple of the papers delivered at the conference resonated with the Adapt approach for getting data correct. We’ve found on projects that data is often viewed in better light by the data custodian than what is actually true. We’ve often peeled back the onion to find that during a datasets life it has usually been maintained in various ways. Data that is important one year is collected consistently and then the focus changes and variations in the data surface. Not many people are systematically tagging their datasets with accuracy levels. When data does form the basis for underlying business decisions why isn’t accuracy a mandatory tag which is applied systematically by rules? Considerable effort goes into delivering a new record to a table in the database (human effort / system effort). One of the key drivers behind the Adapt architecture is to ensure that when the record is committed it has first past the rules that define it – the rules that make that data complete such that accuracy can be attained. Adapt achieves this with its communication layer which sits above the database. Adapts user interface talks to this layer or any other system integrating to Adapt or delivering data to the database. One gateway and one set of rules for delivering data to the database. Often in organisations data is passed to a database in varying ways. This approach compromises the completeness and accuracy of the data.
See you at the next conference! Read more about Adapt Software; Integrated Asset Management Asset Valuation Task Management Mobile Workforce |
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Last Updated ( Friday, 10 April 2009 09:29 )
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Adapt to attend NZ Local Government Asset Management Conference |
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Written by Nigel Sheed
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Tuesday, 17 March 2009 16:15 |
Adapt Solutions will be attending the 12th Annual Local Government Asset Management Conference 2009. We look forward to meeting all conference attendees. To find out more about this conference visit this link. Regards |
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Last Updated ( Tuesday, 17 March 2009 16:22 )
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