How To Overcome The Challenges Facing The Elevator Industry

There isn’t a single industry not affected by technology. Improvements to efficiencies, safety, user enjoyment and even cost savings are just some of the benefits technology provides. However, as demand for technology rises, so too can the costs to keep up with industry changes. Therefore, it’s important to understand the pain points of your industry so you can determine if technology can help you resolve them, or if it is in fact causing them. Here we look at the main challenges facing the elevator industry and how technology is helping overcome them. 

Compliance Checks

With technology comes noticeable improvements that affect safety. This places pressure on building managers to find ways and means to introduce new technology that can help them remain compliant with these safety and code changes. Legislations differ from location to location, adding to the complexity. However, if you engage an elevator maintenance company, they can introduce protocols that ensure you are kept up to date, can make the necessary changes and always remain compliant. Their industry knowledge also allows them to make informed decisions that will save you money based on predictive analysis that keeps you one step ahead of changing industrial safety requirements.

Reactive Maintenance

In keeping with compliance checks, proper maintenance not only helps you remain compliant but also helps you provide more value for tenants. Whether you manage a major hotel, a residential building, or an office tower, you have an obligation to improve rider safety and enjoyment. Reactive maintenance leads to far more shutdowns which is a disservice to tenants and visitors. Investing in new technologies that allow you to run ongoing service analysis keeps you proactive. However, it also allows you to use data to predict the best times to approach maintenance when elevators are in less demand. You avoid failures, improve performance, and decrease the risk of interfering with rider use. 

Skills Gaps

The speed at which technology is changing the industry is also leading to a skills gap. While technology is designed to improve quality of life and efficiencies, the constant advancements of “industry 4.0” present ongoing challenges to tradespeople. As automation creates a new industrial revolution, it brings with it smart technology that can’t be leveraged if there aren’t enough people in the industry who understand it. Things such as connectivity, real-time operational analysis, energy analysis and even traffic analysis all provide data that requires some form of analytical training.

For building managers to make informed decisions to improve maintenance, energy, and repair efficiencies, they need a better understanding of data and how to apply it to their everyday duties. As a result, building management companies should provide training to keep building managers up to date on the latest technology so they can become more valuable employees in the industry 4.0 era.

Legacy System Costs

Digital transformation comes at a cost. While many building managers are faced with the challenge of maintaining their legacy systems, still others are uncertain if replacing these systems makes more financial sense. Cost reductions aren’t necessarily seen right away when choosing new models. It can also be even more expensive to try to come up with ways to retrofit legacy systems.

Therefore, building managers need to understand the cost benefits and potential drawbacks of retrofitting. If they can recognize when the cost of repairs/retrofits no longer remains the best and most cost-effective solution, they can begin to leverage the cost savings seen across many factors of a new system from energy savings to reductions in maintenance costs. In some cases, landlords can even increase rent for investing in such a major upgrade.