Facilities Asset Management Software

Effective Asset Management Software

Accruent's asset management solutions can streamline maintenance operations, improve inventory accuracy, automate and prioritize work orders, and ensure compliance across various industries.

View of outside an office building, Accruent facility management software

The Benefits of Accruent’s Asset Management Software

Save time, improve overall operations, lower costs, and more with easy-to-use, data-driven facilities asset management software.  

Improve Operational Efficiency

Say goodbye to costly recurring pain points like unplanned downtime, lost or unavailable inventory, and siloed asset data.

Benefit From Data-Driven Insight

Ensure all your important data — reporting, asset inventory, billing systems, work orders, and more — is centralized and readily available across departments.

Replace Disconnected Legacy Systems 

By replacing disparate legacy systems — like pen and paper work orders, Excel documents, or standalone software — you can simplify work requests and maximize transparency and insights.

Make Work Orders a Breeze

Submit, manage, update, and track all work orders and related data with facility management software. This helps increase efficiency, prepare for compliance audits, and simplify preventive building maintenance processes.  

Industries Served By Accruent’s Asset Management Software

Keeping assets up and running, performing at full capacity, and ensuring longevity are vital for manufacturing organizations today. With Accruent’s facility management solutions, you get control over your critical assets. It also helps you make better repair-or-replace decisions for greater business continuity, safety, and ROI. 

Distribution businesses need to coordinate logistics to be successful. Using the right facility management software equips warehousing and distribution with the intelligence needed to make better decisions. This leads to a well-oiled supply chain that drives growth and operational excellence. 

To win the wallet share in the highly competitive retail market, retailers need to have strong growth plans, manage their capital well, and have confidence that their data is accurate and actionable. Accruent’s facilities management solutions help retailers execute their strategy so that employees can focus on their customers. 

To avoid construction cost overruns, every planned detail must be on spec. When you leverage the right facility management software, you can reduce communication gaps, increase project efficiency and effectiveness, and ensure your project is on time and on budget. 

Good patient experience and care are vital for healthcare organizations but not always easy to deliver because of cumbersome manual processes, missed data, ineffective communication, and medical equipment cybersecurity threats. A purpose-built facility management system for healthcare can help improve the standard of care with greater asset tracking and reliability, compliance, security, and maintenance management. 

Facility Asset Management Software FAQs

What are the different types of facility management systems?

There are several different types of facility management systems. Each caters to specific aspects of facility management. Here are some common types:

  • Computerized Maintenance Management Systems (CMMS): These systems focus primarily on maintenance management, including work order management, preventive maintenance scheduling, asset tracking, inventory management, and maintenance reporting. CMMS software helps streamline maintenance operations and improve equipment reliability.
  • Integrated Workplace Management Systems (IWMS): IWMS platforms provide comprehensive solutions for managing various aspects of facility operations, including maintenance, space management, lease administration, real estate portfolio management, sustainability, and more. They offer an integrated approach to facility management, bringing multiple functions together within a single software platform.
  • Space Management Systems: This software optimizes space utilization within a facility. They provide features for managing floor plans, tracking room allocations, desk assignments, occupancy tracking, and space utilization analysis. Space management systems help organizations maximize the efficiency of their workspace and plan for future space requirements.
  • Energy Management Systems:Energy management systems monitor and control energy usage within a facility. They help track energy consumption, analyze energy data, optimize energy usage, and identify areas for improvement. These systems often integrate with building automation systems to manage HVAC, lighting, and other energy-related infrastructure.
  • Integrated Security Systems: These systems combine various security components, such as access control, video surveillance, intrusion detection, and alarm management, into a unified platform. Integrated security systems provide centralized monitoring and control of security measures to ensure the safety and security of the facility.
  • Energy Sustainability Management Systems: These systems focus on environmental sustainability and help organizations manage their sustainability initiatives. They provide tools for tracking and reporting on sustainability metrics, managing recycling programs, monitoring energy consumption, reducing carbon footprint, and complying with environmental regulations.
  • Vendor Management Systems: Vendor management systems help organizations manage relationships and contracts with external vendors and suppliers. They streamline the procurement process, track vendor performance, manage service contracts, and help align vendors with your success.

What are some of the main features of facility management software?

  • Asset Management: Tracking and managing physical assets such as equipment, machinery, furniture, and technology devices. It includes functions like inventory management, asset tracking, maintenance scheduling, and lifecycle planning.
  • Maintenance Management: Scheduling and tracking maintenance activities, managing work orders, and ensuring timely repairs and preventive maintenance. It may include features like automated maintenance workflows, task assignment, asset history tracking, and performance analytics.
  • Space Management: Optimizing space utilization within a facility by managing floor plans, room allocations, desk assignments, and occupancy tracking. It helps in maximizing space efficiency, organizing moves and relocations, and planning for future space requirements.
  • Environmental and Energy Management: Monitoring and controlling environmental factors like temperature, lighting, and energy consumption to improve sustainability and reduce costs. It may involve energy tracking, HVAC (heating, ventilation, and air conditioning) management, and integration with building automation systems.
  • Vendor and Contract Management: Managing contracts, service agreements, and relationships with vendors and suppliers. It includes features like contract tracking, vendor performance evaluation, and communication management.
  • Compliance and Regulatory Management: Ensuring compliance with relevant regulations, standards, and safety guidelines. It involves maintaining records, conducting audits, managing permits, and implementing protocols to meet regulatory requirements.
  • Reporting and Analytics: Generating comprehensive reports and analytics to gain insights into facility performance, resource utilization, maintenance trends, and cost analysis. It helps in making data-driven decisions and improving operational efficiency.

Organizations can improve their facility operations by using a facility management system. This system helps in improving maintenance, using space better, allocating resources effectively, and saving money. Additionally, it also enables organizations to provide better service.

What is an asset management system?

An asset management system tracks, monitors, and optimizes an organization's physical, digital, or financial assets throughout its lifecycle. It enables businesses to efficiently manage their resources by providing tools for asset identification, acquisition, maintenance, utilization, and disposal. Such systems help organizations make informed decisions, reduce costs, maximize asset utilization, ensure compliance with regulations, and ultimately enhance productivity and profitability.

What are the types of asset management?

Asset management encompasses several areas, including:

  1. Financial asset management: This involves managing investment portfolios such as stocks, bonds, and mutual funds to optimize returns and minimize risk.
  2. Physical asset management: This includes overseeing tangible assets like machinery, equipment, and real estate to ensure they are efficiently used, maintained, and replaced.
  3. Digital asset management: This involves the organization and retrieval of digital assets such as images, documents, and multimedia files to streamline content storage, retrieval, and distribution.
  4. Infrastructure asset management: This area focuses on public infrastructure like roads, bridges, and utilities, and aims to extend their lifespan, reduce maintenance costs, and improve service delivery.
  5. IT asset management: This encompasses the monitoring and optimization of an organization's IT assets, including hardware, software, licenses, and cloud services, to enhance operational efficiency and control costs.
  6. Real estate asset management: This includes the management of real estate properties to maximize their value, occupancy rates, and profitability through leasing, maintenance, and strategic planning.
  7. Intellectual property (IP) asset management: This centers on safeguarding and leveraging intellectual property assets, such as patents, trademarks, and copyrights, to protect innovation and generate revenue.
  8. Natural resource asset management: This area of asset management is concerned with the sustainable utilization of natural resources like forests, water, and minerals.

What is the difference between ERP and EAM?

Enterprise Resource Planning (ERP) and Enterprise Asset Management (EAM) are related but distinct software systems. ERP helps businesses streamline and control different operations like finance, HR, sales, and inventory for better efficiency and data visibility. In contrast, an EAM manages an organization's physical assets, including equipment, machinery, and infrastructure. EAM systems provide tools for asset tracking, maintenance scheduling, performance monitoring, and lifecycle management. While ERP may include modules for asset management, EAM systems maintain and optimize physical assets. This makes them particularly valuable for industries with extensive asset-intensive operations like manufacturing, utilities, and transportation.

What is asset management software?

Asset management software enables organizations to effectively track, monitor, and manage their assets, including physical equipment, digital assets, financial investments, and more. This software provides centralized tools for asset identification, procurement, maintenance scheduling, performance monitoring, and reporting. Organizations can improve asset management with this tool. It also helps minimize downtime and allocate resources efficiently. Additionally, it ensures compliance with regulations and enables data-based decision-making about assets. Many industries use asset management software to enhance efficiency, reduce costs, and maximize asset lifespan and value.

How does asset management software work?

Asset management software operates by centralizing and organizing data about an organization's assets, including identification details, maintenance schedules, performance metrics, and lifecycle information. It assigns unique identifiers to assets, automates maintenance tasks, monitors performance, and aids in planning for replacements or upgrades. Additionally, it facilitates compliance documentation and reporting, often integrates with other systems, and includes security features.

Why is asset management important?

Asset management is crucial because it enables organizations to effectively monitor, control, and optimize their assets, which represent significant investments and resources. It ensures efficient utilization of assets, extends their lifespan through maintenance, and strategically replaces or upgrades them. This reduces downtime, lowers costs, and improves productivity and resource allocation. Asset management also aids in regulatory compliance and enhances decision-making by providing accurate and up-to-date data. This ultimately contributes to the organization's long-term sustainability, profitability, and competitiveness.

What is a facility management software?

Facility management software helps organizations manage assets and facilities efficiently using computers. It's also sometimes called CMMS or IWMS. It encompasses asset management, preventive maintenance scheduling, work order management, space optimization, resource allocation, inventory tracking, reporting, and compliance. It also often integrates with other systems. This software streamlines facility operations, enhances asset performance, reduces costs, and improves the workplace experience. It is a valuable tool for organizations seeking efficient facility management.

What is the difference between CAFM and CMMS?

CAFM (Computer-Aided Facility Management) and CMMS (Computerized Maintenance Management System) are distinct software solutions used in facility management. CAFM software primarily focuses on optimizing physical space, resource allocation, and workplace efficiency, making it suitable for tasks like space management and occupancy tracking. In contrast, CMMS software specifically manages maintenance-related functions, including work order management, asset maintenance tracking, and preventive maintenance scheduling. CMMS ensures the reliability and longevity of physical assets. The choice between CAFM and CMMS depends on an organization's specific facility management needs. CAFM addresses broader facility optimization and CMMS focuses on asset maintenance and reliability.

How do I choose a facility management software?

Choosing the right facility management software for your organization involves a thorough evaluation of your specific needs, goals, and constraints. Here is a step-by-step guide to help you make an informed decision:

  1. Identify Your Objectives: Clearly define your facility management goals. Determine what specific problems or challenges you want the software to address, whether it's maintenance optimization, space utilization, compliance tracking, or a combination of factors.

  2. Assess Your Requirements: Create a list of essential features and functionalities you need in the software. Consider aspects like asset management, preventive maintenance, work order management, space management, reporting, and integration capabilities.

  3. User Feedback: Consult with relevant stakeholders in your organization, such as facility managers, maintenance teams, and IT staff, to gather their input and requirements.

  4. Integration Capability: Consider how well the software integrates with your existing systems and software, such as ERP systems, IoT devices, or building automation systems.

  5. Vendor Reputation and Support: Evaluate the reputation and track record of the software vendor. Check for references and customer testimonials. Assess the level of customer support and training provided by the vendor.

  6. Scalability and Future Needs: Think about the scalability of the software. Will it accommodate your organization's growth and evolving needs over time? Ensure the software can adapt to changes in your facility management strategy.

  7. Compliance and Security: Verify that the software complies with industry regulations and security standards, especially if you deal with sensitive data.

  8. Total Cost of Ownership (TCO): Calculate the total cost of ownership over the software's expected lifespan, including initial purchase, ongoing subscription fees, training costs, and any additional expenses.

Remember that choosing facility management software is a significant decision that can impact your organization's efficiency and effectiveness. Review your options thoroughly and select a solution that best aligns with your specific needs and goals.

Learn More About Facility Asset Management and Your Organization