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What to Look For in Enterprise Asset Management Software

What to Look For in Enterprise Asset Management Software

What to Look For in Enterprise Asset Management Software

In a bid to enable and maintain maximum operations output, businesses are employing more complex and highly priced assets. As a result, the deployment of competent enterprise asset management (EAM) software has become a necessity. Effective maintenance management capabilities also provide reporting on availability and status of assets and control of the overall maintenance and infrastructure replacement budget. To ensure that you choose the right product for your enterprise, you need to assess the usability of the product based on your company requirements, in terms of demographics – size of your company, the products and services you offer, etc. – and culture and work processes.

An EAM product can be considered effective only when it enhances productivity and efficiency by utilizing assets optimally and increases product or services output to meet or exceed customer expectations. We have provided some considerations that can help you choose the right EAM software:

1. Since it is crucial to make your employees, partners, and stockholders aware of the best practices and regulations that you follow to help control costs, execute smooth operations and maximize returns, the EAM software that you employ has to ensure that no phase of the asset lifecycle is overlooked, from the planning and engineering stage, through the maintenance and operation stage, to the retirement and disposal stage. The EAM product needs to deliver consistently accurate details throughout all phases of the asset lifecycle.

2. To ensure the longevity of your assets, the EAM software needs to plan and execute preventive maintenance schedules according to asset type, coupled with logistics and workforce realities. This includes a combination of calendar based and infrastructure utilization based triggers. Notification rules must be flexible as well, giving enough time and visibility to all involved in order to effectively manage labor scheduling and ensure that the assets themselves, as well as any needed tools, supplies, and partners are readily available at the given point of time.

3. Also the software should have the facility of real time updates of the ongoing work by allowing the managers to document and report their activities easily and swiftly into the system. Real-time data availability provides better coordination amongst internal and external workforces.

4. In today’s technical and economic environment, the cradle-to-grave management of assets requires integrated EAM software to track and report on the entire life cycle process successfully. Only a system that effectively communicates with external applications can manage the multi-levels of resources and approvals necessary to truly manage assets in today’s competitive and often changing business climate.

5. Users are more likely to use systems with interfaces that are simple and easy to comprehend. This helps users enter data without any hindrance and further helps to reduce the total cost of ownership and to maximize knowledge capture.

6. Well architected and successfully deployed EAM systems help to improve lean maintenance functions with accurate information regarding all facets of the CMMS and Asset Management process, including tracking tool crib inventory, work requests, KPIs, and personnel certification and skills requirements. A successfully deployed EAM, will not only maximize the return on investments and expenditures related to maintenance management, but will also synchronize strategically with the business and operations vision.

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