Stepping up to the challenge of compliance and risk management in asset-intensive businesses

The asset impact

For some sectors, the compliance load is inarguably heavier than others. For asset-heavy businesses, the requirements to meet mandatory maintenance schedules for their equipment can be especially onerous. 

A prime example of this is the food industry, where potential contamination issues from worn machinery mean that maintenance (and reporting) are imperative. Or a production line where employee safety hinges on well-maintained emergency overrides or presence-sensing systems (which detect when a person is in an identified danger area). In these examples, it’s critical to not only maintain these assets – but also generate reporting to confirm your compliance. 

And that's where Dynamics 365 Finance and Operations (F&O) steps up.

Maintaining compliance with less effort but more effect

D365 F&O’s new asset management module helps put together your maintenance plans.

So, for example, it ensures you’re keeping on top of the regular servicing of your equipment as determined by the OEM and industry compliance requirements. Then, if you are audited, it's easy to generate reports by device or production line to detail your programme of regular maintenance. This comes with the supporting images and signed documentation – so you have a complete audit trail, all stored within F&O.

The same goes for vehicles – from dump trucks to diggers to cranes. 

Not only do these investment-heavy vehicles and machines need to be maintained to OEM standards, but once they are out of warranty, they require ongoing reactive and proactive servicing to retain and deliver ongoing business value. 

With D365 F&O, maintenance can be logged against each device within the application, along with default codes for analysis and reporting. This aids effective decision-making as you have the data in front of you to help decide if an asset has reached the end of life and needs replacing - or can be refurbished and have its lifespan extended.

The human impact

The impact on people of poorly maintained assets can be dramatic, if not life-changing.

Workplace machinery-related incidents are a significant safety concern in Australia. In 2024, five workers in NSW, Australia, died in separate accidents in a factory, cotton farm, and residential repair site, and two workers were seriously injured in separate incidents involving conveyors.

In 2023, machinery incidents accounted for 22% of all construction workplace fatalities. The Australian Industry Group reported a 15% increase in machinery-related incidents over the past six months. Factors contributing to these machinery-related incidents included operator error, inadequate maintenance, and non-compliance with safety standards. The National Safety Council’s 2024 survey found that 28% of machinery-related accidents involved equipment that had not been properly maintained. 

These incidents can be catastrophic for workers and hugely financially punitive for employers. For example, if you are in the food industry and fail to keep cutting or mixing blades sharp or in good condition, resulting in injury, you can be liable for damages.

Obviously, using a solution like D365 F&O with asset management capabilities will help reduce incidents caused by poor or no scheduled maintenance and ensure compliance with all relevant (internal and external) safety standards. 

With proper asset management, you’ve done the due diligence necessary to minimise machinery malfunctions and mistakes resulting in employee injuries. And importantly - you can prove it. 

Asset management takes the ambiguity out of occupational health and safety compliance. There are no excuses, and human, financial and reputational risks are minimised.