What is Enterprise Asset Management (EAM) Software?

The formal difference between an EAM and a CMMS is that an EAM tends to provide a wider array of featuresor maintenance managers to track, manage, and analyze asset performance throughout the asset lifecycle. This can include features like:

• Inventory management
• A purchasing management system
• Document and knowledge management
• Multi-site management tools
• Labor management tools
• Service management
• An accounting system and financial management
• Supply chain management

However, the lines are far more blurred in reality, as a modern and robust computerized maintenance management system also boasts these functionalities. You can learn more about the nuance and what to focus on when choosing a system here

Generally, an ERP manages all operations, while an EAM helps to improve the monitoring, operations, and maintenance of assets and work orders.

Enterprise asset management is important because the right EAM can help your organization track, manage, analyze and optimize your assets through all stages of the asset lifecycle, from acquisition to disposal. This can lead to:

• Marked improvements in transparency and preventive maintenance capabilities
• Maximized asset life
• Flexibility to work from anywhere
• Lower downtime
• Simplified audits
• Centralized asset data
• Improved benchmarking and performance management
• More modern maintenance strategy and operations

EAM revolves around managing an organization's physical assets and infrastructure, such as machinery, facilities, and vehicles. It aims to optimize asset utilization, extend asset lifespan, and reduce maintenance costs. 

In contrast, ITAM specifically deals with an organization's digital assets, including hardware, software, licenses, and data. ITAM focuses on controlling IT-related expenses, ensuring compliance with software licenses, enhancing security, and making informed technology investments.

Accruent Maintenance Connection exemplifies Enterprise Asset Management (EAM) by providing a comprehensive software solution to help organizations efficiently manage their physical assets and infrastructure. It does this through:

• Asset Centralization: Maintenance Connection offers a centralized repository for all asset-related data, enabling organizations to easily track and manage their assets, from equipment to facilities.
• Preventive Maintenance: EAM is about prolonging asset life and reducing unplanned downtime. Maintenance Connection supports this by allowing users to schedule and manage preventive maintenance tasks, ensuring assets are properly serviced and maintained.
• Work Order Management: The platform streamlines work order creation, assignment, and tracking. It helps organizations prioritize maintenance tasks, allocate resources effectively, and maintain a record of all maintenance activities.
• Inventory Control: Effective asset management requires managing spare parts and supplies efficiently. Maintenance Connection's inventory management capabilities aid in ensuring the availability of necessary resources for maintenance tasks.
• Reporting and Analytics: EAM involves data-driven decision-making. Maintenance Connection provides reporting and analytics tools to assess asset performance, maintenance costs, and compliance with regulations, supporting informed decisions and continuous improvement.

Overall, Accruent Maintenance Connection serves as a prime example of EAM by offering essential features and functionalities that empower organizations to optimize asset utilization, reduce costs, and enhance operational efficiency.