MasterLibrary Adopts EFR Standards for Asset Management

At MasterLibrary, we are committed to the integrity, longevity and effectiveness of our customers’ facility data. As such, we have adopted the EFRStandard.Org standard asset fields for asset management across the suite of our software products. EFR Standard Fields are built for the modern facility accommodating many asset types that are based on smart, IP connected buildings, but still incorporate many of the classic asset types found in Uniformat and Masterformat standards.

What does this mean for you?
For starters, users will get the most comprehensive and future-facing data fields for their assets. As Enterprise Asset Management (EAM) becomes more important in the lifecycle of facilities, having complete information on your assets, including financial data and data that is specifically relevant to the asset type, is critical. Creating the "digital twin" of your facilities is a long term investment that will improve your facility management and and make you more efficient with your capital planning.

Specifically, here's how EFR Standard Fields helps users of ML Work Orders.

Smart Asset Type Fields. We have updated our Asset module in ML Work Orders. Asset records will be tied to one of the over 200 asset types found in the EFR Standard. Based on EFR Standard asset type, you will have data fields available that are relevant to that asset type. Generally, customers will find more fields available per asset and those smart fields will change depending on the corresponding asset type and the data that is important to collect for that asset type.

Better Reporting. With the update to EFR Standard fields, our Asset Reports and Dashboards are also getting an update. By standardizing asset fields, you will be able to get cleaner and more consistent reporting on your assets as well as be able drill down into the details. Better data = better reporting!

Better Planning. EFR Standard fields store financial data like replacement and repair costs, depreciation and expected lifetime values. By storing this data in your asset records, you can build budgets and planning scenarios in ML Capital Plans, without having to double enter any financial asset data. It’s all centrally stored in the EFR Standard Fields and pulled into our different products. 

​Data Portability. By adopting EFR Standard Fields for your asset data, you are investing in the long term health of your facilities. You own the data on your asset records and when it is in EFR Standard format, it can be ported to different software systems that comply or ingest EFR Data Standards. That means you do not have to be married to a software platform, your investment in your asset data lives on.