Mission

To organize the Owner’s building information and provide a platform to control costs, manage productivity, and extend the life of the facility.

Focused on the Owner

Wye River Technologies, (WRT) has developed (KTrack) an Owner centric, vendor-neutral platform, delivered as a SaaS model, that solves the interoperability challenges Owners confront on a daily basis while managing their facilities. The platform comprises an Integrated Facilities Asset Library (IFAL), that organizes and houses all relevant information about the static and dynamic assets incorporated in a building. These assets include: drawings, structure, finishes, security, plumbing, electrical, HVAC, etc. The accumulation of all this information is melded with robust transactional modules e.g. the Facility Asset Management (FAM), Project Management (PM), and Operating and Maintenance (O&M) modules that allow the Owner to interact with the components of their buildings from any computing device.

KTrack provides a single source of truth for all information during the design, construction, operation and maintenance of a facility. Marrying IFAL, FAM, PM, and O&M changes the paradigm of how an Owner is able to manage their facilities. Maximum productivity is achieved by knowing the four Ws – what, why, where and when skilled human capital is needed. This approach is revolutionary. Owners can now track each transaction saving time, money, and extending the life of the building and its assets. KTrack’s mobile ready platform affords the Owner the ability to use validated comprehensive data to enhance the productivity of skilled professionals that transact with the building over its lifecycle – from the Architect to the maintenance teams and/or outside service providers.

Historically, the construction industry has lagged in the adoption of information technologies. Currently, at handover, most Owners are left with a mix of information in a variety of niche software packages, spreadsheets, and/or three-ring binders. With KTrack, the Owner has access to and control of the information they need to operate and maintain their buildings. The platform adds tremendous value at every point in a building’s life cycle by enabling Owners to assess, evaluate, service and maintain facility assets. as well as, control personnel performance, from day one. Now, with KTrack, access to all the data is just three clicks away.

$10,600,000,000

Nationwide, owners and building operators incur approximately $10.6 billion or 68% of an estimated $15.8 billion in costs due to lack of interoperability. These inefficiencies are attributed to:

➤ time spent on information verification and validation,
➤ personnel idled waiting for information,
➤ inefficient business process management,
➤ the use of redundant information technology systems, and
➤ too many ways to communicate. NIST GCR 04-867

The KTrack Equation

Helps eliminate unnecessary cost borne by the Owner (NIST study)

Maximum productivity is achieved by knowing the four Ws – what, why, where and when skilled human capital is needed. The ability to direct resources while providing critical backup documentation to building professionals to support their tasks is priceless. Based on KTrack analytics, cost reductions are further achieved through strategic resource reallocation, elimination of deferred maintenance, operation of assets at optimal efficiency, and the ability to make informed and timely decisions related to new construction, capital expenditures, and maintenance. Design teams, contractors, facility managers and maintenance professionals are no longer handicapped by a lack of organized, integrated, immediately accessible information.

KTrack provides a single source of truth for all information during the design, construction, operation and maintenance of a facility. Marrying IFAL, FAM, PM, and O&M changes the paradigm of how an Owner is able to manage their facilities. This approach is revolutionary. Owners can now track each transaction saving time, money, and extending the life of the building and its assets. KTrack’s mobile ready platform affords the Owner the ability to use validated comprehensive data to enhance the productivity of skilled professionals that transact with the building over its lifecycle – from the Architect to the maintenance teams and/or outside service providers.

Industry studies prove that there is tremendous value for building Owners when they have immediate access to all building’s relevant data. A study by Ohio State University (OSU), Messer Construction and L. D. Asortino Architects shows that savings of 7.1% were achieved on a $100+ million project using Building Information Modeling (BIM). Greater cost reductions can be attained when a system such as KTrack is incorporated throughout the process. Additionally, the National Institute of Standards of Technology identified in 2004 that $0.23 per square foot per year of maintenance costs could be saved using BIM. Even greater cost reductions can be attained by incorporating a robust integrated technology platform such as KTrack.