Governments and asset-heavy industries use Enterprise Asset Management Software to manage vehicle fleets, buildings, installations, infrastructure, and real estate.
The software pulls together data from various sources and departments to track assets from commission and design, construction, operation, and maintenance, to demolition. It covers the entire lifecycle.
EAM is an all-encompassing asset management from design to demolition, or from purchase to replacement.
In many industries, organizations live or die based on how much value they can pull from their assets, which can include a wide variety of machines, equipment, and even structures. EAM software allows companies to track, manage, and optimize asset reliability, cutting costs and boosting efficiencies across the board. The software allows asset managers to collect data from multiple departments to create the most complete understanding possible of where an asset is in its life cycle.
EAM software combines a host of features to ensure complete asset management over the entire course of the asset’s life cycle.
The process begins at the planning stages with cloud-based document control. Everything from schematics to meeting minutes, budget projections to costs analysis reports are maintained in the software, ensuring accessibility and a standardization of format.
Once the asset is implemented, the EAM software facilitates work order and supply chain management. Managers schedule all on-demand and preventive maintenance work through the app and control inventory of associated parts and materials.
A core feature of EAM software is the auto-generated reports and business analytics, which allow organizations to make data-backed decisions on whether to repair or replace assets.
Large organizations often have trouble sharing information between departments, leading to data silos. When everyone is using the same centralized system, data can move freely, allowing organizations to create a detailed big picture of it assets.
Another big advantage is being able to calculate an asset’s TCO (total cost of ownership), which is how much it costs to not only buy but keep an asset.
A quick example is when you buy a car. You pay for it up front, but then there are all the ongoing costs, including insurance, gas, and regular oil changes. Once you know the TCO, you can decide if you should keep it, sell it and start taking the bus, or just drive it less.
A big advantage of asset management is being able to calculate where an asset is in its lifecycle. The older it gets, the more organizations need to put aside for repairs and eventual replacement.
On a much larger scale, organizations can use an EAM to decide when assets should be repaired or replaced. The software can answer:
For the organizations that need it, EAM software is a powerful asset management tool.
Organizations across a wide spectrum of industries rely on EAM software for effective asset management. Industries include:
The list continues to grow as new asset-intensive industries develop and more and more asset managers realize the benefits of EAM software.
Every day, Hippo CMMS helps manufacturers around the world run their operations smoothly.
CMMS software started out in manufacturing but is now used by maintenance departments across industries to streamline maintenance. Data-rich work orders open clear lines of communication between managers and technicians. Inventory management ensures technicians have what they need when they need it. Automated reporting ensures everyone stays accountable. Everything works toward reducing downtime and extending asset useful life.
Enterprise Asset Management software can include some of the same features as a CMMS, plus many more.
These additional features are for asset management, which just means trying to get the most out of assets over the longest time for the least money.
Because of its laser-focus on assets, EAM software tends to be used only by governments and large, asset-heavy organizations. It’s a solution for organizations that are, for example, building bridges, maintaining a fleet of 20 cement trucks, or running an oil rig. Because asset tracking is so detailed and covers assets’ entire lifecycles, Enterprise Asset Management is used across multiple departments by everyone from C-level executives to frontline technicians.
Now, providers design systems that are user-friendly and configurable to meet the needs of their widening customer base, some of which can be explored on directories like Capterra, Software Advice, SelectHub and Gartner