Assets, whether machinery, tools, or equipment, are the lifeblood of any industrial organization. Hence, properly safeguarding and maintaining assets assumes paramount importance for organizations striving to maintain competitiveness and drive sustainable growth.
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In the above backdrop, Enterprise asset management (EAM) Software emerges as a strategic solution to streamline asset lifecycles, enhance operational efficiency, and mitigate risks. In this guide, we delve into the core concepts of enterprise asset management software, its differentiating features, benefits, and how to select the optimal solution for your organization's needs.
An enterprise asset management system is a robust solution designed to facilitate comprehensive management of an organization's physical assets throughout their lifecycle. These assets encompass a broad spectrum, including machinery, equipment, facilities, infrastructure, and more. Enterprise asset management software integrates functionalities such as asset tracking, maintenance scheduling, inventory management, and compliance tracking to optimize asset performance and minimize operational disruptions. In the broadest sense, EAM software can even refer to a mobile EAM solution that can integrate with any centralized ERP system.
While the terms enterprise asset management software and computerized maintenance management systems (CMMS) are used interchangeably and share common objectives, they serve distinct purposes within asset management frameworks. The primary focus of CMMS is on maintenance activities such as scheduling repairs, preventive maintenance, and tracking work orders. On the contrary, EAM software extends beyond maintenance to encompass broader asset lifecycle management, incorporating aspects such as procurement, depreciation, and disposal.
Enterprise asset management software assumes significance in an industrial setup since it enables an organization to track, assess, manage, and optimize asset quality and reliability. Organizations of any kind—manufacturing, mining, chemical, food processing, or oil & gas—are asset-intensive, meaning they maintain and manage hundreds, thousands, or even millions of assets.
While assets can be of any type, the objective is always to sustain production, services, and operations. By incorporating EAM best practices, maintenance teams can gain greater control of complex environments to perform a variety of optimization and efficiency tasks. Key benefits include:
Centralized asset information refers to the consolidation of all asset-related data into a single, unified system using the EAM software. This approach enhances efficiency by providing easy access to comprehensive and up-to-date information about assets, such as their location, condition, and usage history. It enables better decision-making, reduces redundancies, and improves compliance with regulatory requirements. By centralizing asset information, organizations streamline management, optimize resource allocation, and enhance overall operational effectiveness.
Now that we understand the benefits of the EAM software, let's explore which user categories benefit the most from it.
Enterprise asset management software caters to various stakeholders across an organization, including:
A robust EAM software should offer the following features:
EAM software may be desktop, cloud, or mobile-based, but in industrial and warehouse contexts, this solution stands out due to its flexibility and broad use of mobile devices. This solution offers several benefits over conventional options, especially in active, complex industrial settings.
Mobile Enterprise Asset Management (EAM) Software solutions are widely used across sectors such as:
A mobile EAM solution offers numerous industry-wide advantages that include:
In line with these advances, Propel Apps offers a mobile enterprise asset management solution that is affordable, user-friendly, and aligns with your organization’s objectives. Propel Apps’ solution transforms maintenance and asset management operations through Oracle EAM, modern design approaches, and robust enterprise mobile capabilities. It enables seamless access to work orders, asset history, and vital information—including notes, pictures, and location—for improved communication and on-the-go decision-making.
To discover more about Propel Apps' EAM solution and its features, feel free to schedule a call for a free demo.
