TechnologyOne General Manager - Asset Management, Peter Suchting said these frameworks meant councils in all states and territories had to deliver long term asset management plans, renewal programs and capital budgets based on reality rather than guess work.
"Councils need to understand the current health of their assets, what their service level targets are over five, 10 and 20 years and how they will fund them, the scenarios if they cannot fund them, how to deal with any funding gaps and the fair value of assets and their consumption," Mr Suchting
"In this way, decisions about where and when to spend money are based on long-term, community driven outcomes rather than short term goals.
"This is why our existing and new customers welcomed the full integration of the Assetic SAM and TechnologyOne Enterprise Asset Management software.
"Our solution enables them to manage the reactive and planned maintenance of assets driven by powerful GIS integration and Mobile deployment, while SAM provides nationally benchmarked algorithms and modelling provide long-term financial analysis, asset valuations, forecasting and community service planning," Mr Suchting