Asset Management

Kenja’s Asset Management platform utilizes the power of blockchain technology and IoT devices to capture the performance data of machineries. This ensures the provenance of the machineries for the certification of leasing viability and builds customer confidence.

The forced reduction of work activities caused by the pandemic have had a great negative impact on the market. Businesses suffered greatly during that period which led them to delay new purchases, postpone upgrades, and cancel existing orders to save on costs. This resulted in a great loss of sales for the machinery industry, necessitating adaptation to their strategies.

In order to bridge the gap between cost and flexibility, many enterprises shifted their focus to leasing out used units. There are many advantages to leasing machinery such as lower upfront costs, tax deductible payments, and the cost of maintenance falling on the leasing company depending on the terms. Most importantly, the reasonable and fixed costs involved in leasing units allow businesses to scale flexibly thereby enabling them to participate in market trends.

However, to lease units effectively, enterprises need to collect provenance and performance data per machinery to prove their capabilities which is a time consuming and labor-intensive activity. This pushed a Southeast Asian conglomerate to search for a better way to process data, leading Kenja to develop the Asset Management solution using Internet of Things (IoT) and blockchain.

The solution is an asset management system for industrial machinery with IoT and blockchain technologies. It connects the IoT devices which measure the performance data of the units to the platform. Blockchain technology then captures a summary of the performance data at set times and turns the data immutable. This, in turn, allows the conglomerate to certify machineries as viable for leasing and helps build client confidence in the capabilities of the units for lease.

Kenja’s Asset Management solution connects IoT devices to a blockchain-enabled platform for accurate and immutable performance data collection. It has been successfully executed for a Southeast Asian conglomerate within their budget and with no overrun costs. The Asset Management solution provides a leaner way of proving the provenance of machineries for lease and may be adapted to meet the unique demands of any enterprise operating in any industry.