US Water Infrastructure Is at a Tipping Point: Asset Management Systems Could Provide the Only Answer
The US’ water infrastructure is facing severe challenges as demand rises and funding diminishes, according to the American Water Works Association’s (AWWA) 2016 State of the Water Industry Report.
The report found that, as increased strain is placed upon aging infrastructure, the capital required for water companies to continue providing a decent service to customers is growing too. This is leading to a rise in rates across the country; something that many individuals and business will struggle to afford.
A Tough Deal for Consumers
To reduce costs and to deliver a better quality of service to customers, the AWWA has recommended that water companies embark on widespread adoption of comprehensive asset management system. This gives water companies across the US a reliable way to keep track of their systems, infrastructure, and assets.
By adopting a good quality asset management system, water service providers can gain an in depth understanding of the assets and infrastructure under their control. In turn, this enables them to proactively schedule repairs, monitor the effectiveness of repairs and maintenance work, keep track of the health of existing infrastructure, and dramatically boost the efficiency of their business as a whole.
The Asset Management System Guarantee
As water infrastructure continues to decline across the United States, water companies are facing up to the fact that asset management system adoption could be the only way to avoid passing further cost increases on to consumers. In the past, many service providers have received funding from regulated bodies in the form of grants or loans, either ring-fenced for specific purposes or otherwise. Now, these companies are finding funding increasingly hard to attain, and the funding that is available is subject to stricter terms and conditions.
This is another way in which mass adoption of a asset management system can assist water service providers and consequently their customers. As funding agencies become increasingly reluctant to provide capital without adequate reassurance that it will be used effectively, they are turning to asset management software as a means of monitoring this. Not only will the implementation of this kind of system enable comprehensive monitoring and reporting on where money is being spent and on the efficacy of repairs, but it will also ensure that water service providers are using the funding to secure a better service, better rates, and an all-round better deal for the consumer.
While it remains to be seen how many of the US’ water companies will adopt these systems, what is for certain is that failing to take action will spell disaster for these organizations, as well as for the customers who rely on them.