In this webinar, AKAM CEO Ken Greene, AKAM SVP of Building Operations Christopher Alker, RA, NCARB, and CORE Insights Group Managing Partner Ross Kellman, introduced AKAM’s LifeCycle Platform, which addresses the challenges of managing aging building equipment. The platform uses QR tags to create a digital inventory, track repairs and replacements, and negotiate better rates with vendors, aiming to reduce costs and manage risks. The session further explains how the system captures warranty information, tracks maintenance activities, and provides transparency through detailed invoicing. Ultimately, this initiative is designed to leverage AKAM’s scale and deliver improved value and cost savings for clients.
Webinar Highlights
Christopher Alker, RA, NCARB: This life cycle initiative, in a nutshell, uses physical QR tags to generate a digital inventory and track the necessary repair and replacement of physical assets over time at negotiated rates, while simultaneously documenting the steps and retaining this history in buildings within AKAM’s portfolio.
Ken, why this initiative, and why now?
Ken Greene: We manage approximately 500 properties, giving us scale and leverage we haven’t fully utilized with our vendors. We can now demand better pricing and service, providing better value to our customers. This initiative can reduce risk and expenses at the property level, and we’re investing AKAM dollars into the program to build it out.
Christopher Alker, RA, NCARB: What kind of issues prompted this initiative?
Ken Greene: Our clients frequently ask how to eliminate risk, lower spending, manage capital issues, and plan for future repairs and maintenance, especially in a high-inflation environment. This platform addresses these concerns by being proactive in nature, ultimately reducing costs and managing risk, making it a valuable tool for our clients.
Christopher Alker, RA, NCARB: That sounds like a fantastic idea. Ross, can you walk us through the nuts and bolts of the initiative?
Ross Kellman: Sure, thank you, Chris and Ken. First, we use QR code tags to create a digital inventory of building equipment. This tagging captures all critical pieces of equipment, allowing us to review service providers and agreements, negotiate contracts, and manage warranties and certificates of insurance.
We aim to save money by benchmarking existing rates and negotiating better deals. Our platform tracks all service and maintenance activities on each piece of tagged equipment, providing detailed invoicing and ensuring transparency.
Our mobile application allows staff to manage equipment and service requests easily. When a work order is created, the system captures all relevant information, including warranty status, ensuring no charges for services under warranty. The platform also tracks the history of each piece of equipment, creating a comprehensive archive for future reference.
Christopher Alker, RA, NCARB: How does the warranty information get loaded into the system?
Ross Kellman: The property provides the warranty information, which we digitize and manage. This ensures that all relevant details are stored and accessible, even in the event of a physical document loss.
Christopher Alker, RA, NCARB: How do you deal with plumbing repairs behind the walls in terms of tracking?
Ross Kellman: We don’t tag individual pipes but rather the equipment they are connected to. Any repair work, including behind-the-wall repairs, is captured in the notes and invoices, so we can keep a complete history of the maintenance performed.
This enhanced service is an investment by AKAM to provide better management, oversight and planning for building equipment, saving money and reducing risks for clients.
For questions regarding the LifeCycle Platform, please contact your AKAM Manager, AKAM Assistant Manager, or info@akam.com.
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