Research has shown that a successful preventive maintenance program should improve the performance and safety of the equipment of your company, and is a critical element of proper facilities management.  Conducting regular preventive maintenance on equipment extends the equipment’s lifetime and results in a lower Total Cost of Ownership (TCO); thereby, positively impacting a company’s bottom line. Some recent Internet of Things (IoT) devices include sensors to monitor equipment performance and utilize Artificial Intelligence to predict pending asset failures.  Developers of these ‘smart’ IoT devices claim that the devices are a shift away from the preventative maintenance model to an as needed maintenance model and result in a dramatically lower TCO for business.