Accruent connects asset management to IoT with acquisition of Verisae

by Brianna Crandall — October 3, 2016 — Accruent, a provider of real estate, facilities and asset management solutions, recently announced the acquisition of Verisae, a provider of cloud-based solutions that connect facilities and assets to the maintenance and service network through the Internet of Things (IoT).

Managing the real estate and facilities lifecycle is second only to people as the largest expense item in enterprises today, and the cumulative annual spend is over one trillion dollars globally, according to Accruent.

For over 20 years, the software to serve this market has reportedly been a collection of fragmented point solutions. Bringing together the ability to strategically plan, to execute those strategies, and to proactively manage daily operations across the complete lifecycle, with the capability of the IoT and mobile field service management, is revolutionary for the industry, claims the company.

John Borgerding, CEO, Accruent, explained:

With the addition of Verisae, Accruent is uniquely equipped to deliver game-changing customer value. We can now help customers manage their complete facilities lifecycle from strategy to execution by connecting real estate and facilities to assets and service teams through the Internet of Things. The next-generation capabilities we are providing to customers drive step-function performance gains and enable them to deliver a transformative customer experience.

Verisae brings applications that can react and respond in real-time, and connect facilities and equipment to the teams that service and support them.

Accruent cites a recent press release from Gartner that stated, “IoT creates a unified view of facilities management as well as advanced service operations through the collection of data and insights from a multitude of sensors. ‘Especially in large sites, such as industrial zones, office parks, shopping malls, airports or seaports, IoT can help reduce the cost of energy, spatial management and building maintenance by up to 30 percent,’ added Ms. Tratz-Ryan.”

In addition, Accruent cites research showing that mobile field service solutions can deliver an 18 to 40 percent improvement across a range of productivity, service level and financial metrics. The value created by connecting and automating the facilities and service teams in real time is significant.

BJ’s Wholesale Club has been a long-time user of both Accruent and Verisae solutions. Peter Thomas, SVP, director of real estate and property development at BJ’s, commented, “These solutions help us deliver value to our members by operating our clubs as efficiently as possible while ensuring a great shopping experience for our members.”

Jerry Dolinsky, CEO, Verisae, stated:

Our goal has always been to connect our asset management solutions with software that manages the real estate and facilities lifecycle. By joining forces with Accruent, we will offer unprecedented scope — everything from long-term strategy and planning that spans years or even decades, through the real estate lifecycle including lease administration and construction project management, and through facilities management, field service and the real-time world of equipment monitoring and control.

Verisae provides software-as-a-service (SaaS) solutions that connect the maintenance and service network globally to manage asset and equipment maintenance, energy usage, mobile workforces, environmental sustainability, and compliance for companies in the utilities, telecommunications, retail, manufacturing and service management industries. By integrating business information and processes on a common data platform with analytics to drive insight and fact-based decisions, Verisae enables its customers to reduce operating costs, improve customer satisfaction, and increase profits.

Accruent helps real estate, facilities and asset leaders deliver long-term, world-class operational and financial performance through industry-specific suites that deliver greater customer value. Accruent’s solutions are at work in more than 5,800 leading organizations worldwide, including leading service providers managing more than 4 billion square feet of property. Founded in 1995, Accruent is headquartered in Austin, Texas, with locations across the USA and in Canada, China, India and the U.K.