Last Updated on Dec 20, 2019 by James W
There are many benefits of using Enterprise Asset Management (EAM) Software at your organization. Below is a look at ten of the biggest reasons to consider implementing an EAM solution.
– Improved reporting
Better data means more accurate and more effective reporting. Reporting is one of the primary mechanisms used by management and supervisors to ensure business is running effectively. Reporting within EAM solutions might be specific to business functioning within particular modules. These specialized reports are specific to needs of individual departments. Other reporting presents system data with a more broad view. Metrics of various kinds can be produced. In addition, predictive analysis allows for a better look into the future. Overall, improved automated reporting means less manual effort and more data availability and visualization – both leading to monetary savings.
– Business process improvement
In order to successfully implement an EAM solution, your business will need to clearly define existing business practices.
Importance of defining existing business practices
-Enable informed selection of an EAM solution
-Allow new processes to be defined which will fit into your new EAM software in the most streamlined and automated way possible
-Identify gaps in existing processes which need to be addressed
-Enable training to be developed and offered to the correct sets of users
Business process definition is a very important activity at the beginning of the implementation process which will not only create benefits to your business now and for the future, but will ensure successful implementation and overall satisfaction with the EAM solution.
– Better asset inventory tracking
Asset inventory tracking in EAM systems allows more information to be stored associated with each asset record. Standard fields as well as custom fields for your business can be associated and maintained.
Asset associations and hierarchy allows multiple assets to be associated with one another, usually to indicate physical association/attachment in the field. This means EAM systems allow a full view of where individual assets are as well as which assets are associated with them.
In general, better tracking of information on assets including asset location and asset association means less lost inventory, easier and more accurate reporting, more data integrity, and overall time and money savings for your organization.
– Field work management
Streamlining field work and service orders means more efficient scheduling and more work able to be performed each day. Your technicians spend less time driving and writing out data, and less time ending up going to a location where they are not needed. Having access to mobile devices for field crew means less manual effort in the field, more automation, and less room for error.
– Asset maintenance planning
As mentioned previously, EAM solutions offer much detail to be tracked as associated with each individual asset. This detail includes asset history such as purchase dates, manufacturer information, and past maintenance records. This information allows repairs to be planned without as much manual effort required.
– Compliance, auditing, and security
Maintaining accurate asset history records with an easy to use EAM system will lead to better compliance with industry regulations and better risk management for your organization. EAM systems even offer alert capabilities which can be configured to alert key users as needed when based on your business processes. Security updates with today’s systems ensure your data is protected.
– Asset acquisition
Having a better view of current assets means a better understanding of what inventory needs to be purchased and when. For smaller purchases, EAM systems offer easy entry of new asset items. For bulk orders, asset upload functionality is available to import all data without as much manual effort required.
As part of the implementation process, data cleanup is likely required to match existing data with new allowed configuration values. EAM systems allow for configurability of variables. This also means the EAM system will look and feel appropriate for your particular business. Only values which are pertinent to your industry processes will be available for selection by users. This makes the system easier to use. Configurability of variables also ensures data stays clean and standardized.
EAM solutions are scalable to fit your needs. The system doesn’t need to be more complex than necessary. During implementation, decisions will be made to enable only the areas of the software which are required for your business. Keep a clean look for users who don’t need certain modules, and disable modules entirely if not needed for your industry.
– Interface capabilities
There are often many other software products which need to interface with asset management systems. The asset management system may even be used as a master of data to connect multiple other systems without as powerful of an interface development mechanism. With some configurable standardized interface creation options, the process of developing interfaces is simple and repeatable.
About Andromeda and OptiAM
When your organization decides to start the process of selecting and implementing an EAM solution, consider Andromeda and our EAM solution OptiAM.
OptiAM is an EAM solution built with the above benefits in mind. The product is easily configured to support various industries and it uses mobile web-based technology with Radio Frequency Identification (RFID) and predictive maintenance. OptiAM is intuitive and easy for users to learn and use. We have a proven record of a shorter implementation timeline than many comparable options on the market today.
Whatever EAM solution you have, consider Andromeda for your IT service needs. We offer many services and products with proven benefits.