An enterprise asset management software (EAM) can be used by many employees in asset-heavy companies. As far as industries go, enterprise asset management software is often used by utility managers, energy managers and manufacturers. Within each of these verticals, an EAM software can be used by many employees, including: Operators Technicians Plant managers Decision-makers and C-suite Inventory managers Maintenance manager The ultimate goal? To increase asset-related transparency, to decrease delays, to stop reactive maintenance practices and to resolve difficulty meeting KPIs and metrics.
What is EAM Software?
EAM software, or enterprise asset management software, is a facility management software that helps users maintain, analyze and manage their physical assets and infrastructure throughout the asset lifecycle – from acquisition to disposal.
Components of EAM Software
Asset Lifecycle Management
Properly maintain and track all your important physical asset information and documentation – including MRO information, maintenance history, work orders and historical information and analytics – throughout the asset lifecycle to decrease costs and increase asset reliability.
Work Order Management
Simplify the creation and completion of work orders – diagnosing issues, assigning technicians, scheduling work orders and more – for decreased downtime and enhanced preventive and predictive maintenance capabilities.
MRO Inventory Management
MRO inventory costs can skyrocket as team members struggle to locate inventory, order missing parts and complete relevant work orders on time. Full MRO inventory management through your EAM software can solve these concerns, lower costs and simplify asset maintenance.
Effective asset management requires centralized, comprehensive and trustworthy asset information. An EAM software solution can effectively integrate and streamline all related documentation, thereby maximizing efficiency allowing for data-driven insights and ultimately increasing revenue.
Service Contract Management
Managing contracts and ensuring compliance can be a dauntingly complex and costly task. EAM software can help you easily create contracts, manage terms and ensure compliance with your customers, employees, partners and vendors.
In order to make the most out of your robust EAM software, your employees need to be continuously trained and certified. Your EAM system can streamline this process by increasing accessibility of training procedures, simplifying audit logs and giving your managers a bird’s eye view of your team’s safety training progress.
Gain a comprehensive understanding of your finances by connecting to your accounting software or other key tools. Streamline processes and implement preventive maintenance to cut costs across your organization.
Robust Analytics and Reports
Big-picture analytics can help you optimize your operations and identify areas of concern before they cause downtime or other costly problems. This can ultimately maximize your uptime, increase employee productivity and help your organization make better business decisions.
What Is the Difference Between EAM Software and a CMMS?
Today, there is significant overlap between an EAM software and a computerized maintenance management systems (CMMS). However, there are fundamental and important distinctions between the two tools.
Most broadly, a computerized maintenance management system can be considered to be a component of a broader EAM system: an EAM will always include a CMMS component, but a CMMS will not always provide the features and capabilities of an EAM. That’s because CMMS software focuses primarily on asset management and facility maintenance during the operational phase of the asset lifecycle.
EAM software, on the other hand, provides a suite of tools and features that allow organizations to track, manage and optimize asset and facility performance through the entire asset lifecycle.
That said, many modern CMMS systems have expanded to offer EAM-level capabilities. Maintenance Connection, in particular, can be used as both a CMMS and an EAM tool.
EAM Software and SaaS
When CMMS and EAM software first appeared, all asset management systems were based on on-premise hardware. Now, there has been a significant shift to the cloud. Cloud-based SaaS solutions offer many benefits that make a SaaS solution ideal for modern asset-heavy businesses, including:
- Maximized integrations: Modern organizations must integrate information across systems, devices and software tools. The cloud provides a connectable ecosystem in which these integrations are easily achieved.
- More reliability: If you have a strong provider, a SaaS solution will provide fast uptimes, increased ease-of-use and more reliable availability across devices.
- Scalability: It is difficult to scale across sites and facilities using hardware. A mobile-friendly SaaS solution maximizes scalability and flexibility across sites and devices.
- Lower maintenance cost: SaaS EAM solutions are usually run on monthly or annual subscriptions that require significantly less up-front investment.
- Increased security: Maintenance Connection and other EAM software automatically updates patches and other security concerns, so the burden will never fall on your IT department.
Related EAM Software Concepts and Resources
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Accruent Analytics and Maintenance Connection
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CMMS and EAM Adoption
You must maximize adoption in order to make the most of your powerful enterprise asset management software. Learn how.