In episode 107 of Asset Champion, host Mike Petrusky talks with Kristy Ehman, Founder & CEO of Hyon Software Inc. They cover her professional journey and how Hyon hopes to become a global leader in the circular economy and make sustainability reporting in asset management easier. Ehman shares how the Hyon model integrates into current processes to introduce new opportunities for circulation.
Agenda
- Opportunities for becoming a thought leader on circularity
- Hyon Software and its efforts to circulate assets to avoid waste
- Roles and future of technology in asset management
- Benefits, financial and environmental, of embracing circularity
What you need to know: Facility and maintenance takeaways
Takeaway 1: Embrace technology advancements and the circular economy in asset management
The asset management industry should embrace technology and the concept of the circular economy. The goal is longer life cycles and a stronger culture of circularity in organizations.
Ehman says asset management professionals should be excited about where things are headed. “We’re using powerful tools for a very strong, good cause.” Her advice: “Just embrace it. Get curious.”
As an example, she explains how technology can create digital twins of a physical world, effectively capturing data to deliver actionable advice.
Takeaway 2: The circular economy can support both financial and sustainability goals
It’s not just about the environment. The circular economy can also lead to significant financial gains. But moving to the circularity model must make business sense and be easier than current processes.
Ehman says there are challenges, but becoming circular is “absolutely doable.” She then shares how her company is helping organizations manage and circulate assets, extending their useful lives and creating positive financial impacts.
Takeaway 3: Invest in community building and sharing best practices in the asset management industry
Ehman strongly believes in the importance of community building within the asset management industry and the need for professionals to share best practices with one another. She explains some of the opportunities to become thought leaders in the industry.
“There’s a huge opportunity to do that, specifically around topics like circularity,” she explains. “Okay, if I wanted to do this, how would I do it? Who else has done it? Okay. Now I’ve done it. Who can I share this with?” Although facility managers often feel isolated, conferences and organizations like the International Facility Managers Association can provide a supportive community.
Asset management insights
- The circular economy aims to keep manufactured goods in use for as long as possible, keeping them out of landfills and promoting a circular economy.
- Technology can provide data that helps make better and more informed decisions, and embracing new technologies can lead to innovative ideas and solutions.
- There are financial benefits to embracing circularity, in addition to the sustainability aspect. However, the challenge lies in creating a business case and a circularity model that makes sense and impacts the bottom line positively.
- There is a need for a community among facility managers where they can share best practices and learn from each other, particularly around topics like circularity.
Listen to the full podcast here.
Go deeper. Dive into more episodes of Eptura’s Asset Champion podcasts.
By Jonathan Davis
Jonathan writes about asset management, maintenance software, and SaaS solutions in his role as a digital content creator at Eptura. He covers trends across industries, including fleet, manufacturing, healthcare, and hospitality, with a focus on delivering thought leadership with actionable insights. Earlier in his career, he wrote textbooks, edited NPC dialogue for video games, and taught English as a foreign language. He hold a master's degree in journalism.
