Resources

Asset management glossary

Plain-English definitions of the terms we use.

AI-ready data: Accurate, structured data with metadata and context captured at the point of entry, so AI systems can use it reliably.
Asset hierarchy: The parent and child structure of assets, such as site, facility, building and component, so results can roll up to any level.
Asset management gap: The lower-value, high-quantity assets and supporting equipment that ERP and maintenance systems exclude, and that are often managed with paper or spreadsheets.
Business logic engine: Where EXTAG applies bespoke algorithms to your data to automate activity planning and create practical visuals.
Calculated and classified values: Business-logic values EXTAG derives from captured data (for example a status, due date or condition class), used to drive reports, maps and tasks.
CMMS: Computerised Maintenance Management System. Software that plans and records maintenance on registered assets. EXTAG can run alongside your ERP or CMMS, or be your CMMS.
Cyclone Hours report: An EXTAG report that shows how many labour hours cyclone preparation of scaffolding will take against the people available on site, so preparations can be scheduled rather than started by default.
EAM: Enterprise Asset Management. Software for managing the whole life of an organisation's assets, usually alongside an ERP.
Equipment register: A list of every item of equipment an organisation owns or manages, with its identifier, location, status and inspection history. In EXTAG, each item has one record, opened by scanning its NFC tag or QR label.
ERP: Enterprise Resource Planning. A business system (such as SAP) that manages finance, procurement and core maintenance for critical assets.
ERP exclusion line: The point below which assets are not cost-effective to manage in an ERP or maintenance system. Core and critical assets sit above it; "all other assets" sit below it.
Excluded assets: Assets that are not managed in the ERP or CMMS, such as scaffolding, lifting and rigging gear, fire equipment, mobile equipment and preserved spares.
Form template: The definition of a smart form in EXTAG. Every record keeps a reference to the template version that defined it.
GPS tag: An active tracking device with cellular connectivity that reports the live location of a high-value asset and can alert when it moves.
Item template: The definition of an asset type in EXTAG, including its fields, forms and rules. Changing the template changes every record of that type.
Linked actions: Actions that EXTAG creates automatically from a completed form. The next step is highlighted and the whole scope is tracked live.
NFC Scaffold Tag: An EXTAG PVC tag (168 × 85 mm) that combines a scaffold inspection record and handover certificate with an NFC chip, so the scaffold's status can be checked and updated with a scan.
NFC tag: Near Field Communication tag. A small passive tag read by tapping a standard phone or tablet, used to identify an asset or location and open the right form. It is not a live location tracker, but each scan can update the asset's location from the scanning device's GPS.
Pilot asset class: The first class of assets, such as scaffolds or fire equipment, that EXTAG is implemented for so the approach is proven before it is applied to the rest.
Preservation: Scheduled inspection and maintenance of stored or spare equipment so it stays serviceable and within warranty until it is needed.
QR code label: A printed, weatherproof label with a QR code that opens the right EXTAG record or form when scanned with a phone camera. Useful where a camera scan is more practical than tapping an NFC tag.
Rotables: Repairable components that are swapped out, refurbished and returned to stock for future changeouts.
Smart digital form: A configurable EXTAG form with conditional logic, live calculations, embedded images and version control, used to define assets and record activities.
Template: In EXTAG, the configuration that defines the structure of an asset type, form, process or report. Changing a template needs no software release or data migration, and each record keeps a reference to the template version that defined it.
Work order: A job raised against an asset, assigned to a person or contractor and closed with evidence such as photos, signatures and readings.