Enterprise Asset Management (EAM) software is an invaluable tool that can be used by organizations to maximize their assets. Traditionally most organizations did not embrace whole life planning for assets, but a sea of change is occurring in how management views long-term assets.

EAM software is helpful because it enables organizations to use the latest electronic tools to maximize their three most important asset classes: Physical assets, IT assets, and digital assets.

EAM Management of Physical Assets

Physical assets consist of office buildings, plants, waste treatment facilities, transportation systems, and other elements of physical infrastructure. Maintaining physical assets is essential for long-term organizational development and growth.

Organizations that neglect their physical assets soon find themselves mired in serious infrastructure related problems.

EAM software helps with physical asset management in a variety of ways: It improves the efficiency of the work order life-cycle, it enhances the mobility of maintenance teams, and it enables management to spend more time on higher level decision making.

Organizations that employ well designed EAM software are much more efficient at solving problems related to physical infrastructure than organizations that do not.

EAM Work Order Impact

The work order life-cycle consists of the processes involved between the time a work order request is accepted and a work order is completed. The importance of efficiency in the work order life-cycle is paramount.

Organizations with inefficient work order life-cycles cannot adequately maintain their physical infrastructure. EAM software boosts the efficiency of the work order life-cycle in three ways:

  1. By eliminating paper trails.EAM software displaces the need for paper pads. All information related to work orders can be viewed from mobile devices by all maintenance personnel. No time needs to be wasted collecting and collating written down data: EAM software collects all work order related data together automatically.
  2. By enabling maintenance crews to respond faster to work order requests.Maintenance crews equipped with access to mobile devices running EAM software can receive updates on requested work orders nearly instantaneously. This is especially useful in emergencies where time is of the essence. EAM software gives maintenance crews the ability to respond to sudden equipment failure in a way nothing else can.
  3. By enabling maintenance management to proactively plan for maintenance before problems occur with infrastructure.The benefits of EAM software in regards to improving the efficiency of the work order life-cycle are not limited to helping maintenance crews, management benefits at least as much as maintenance personnel.Without EAM software, managers are forced to waste significant amounts of time ensuring that work orders are dispatched to the right personnel. EAM software automates this process, giving managers more time to concentrate on critical higher level decision making.

EAM Impact on IT

The term “IT assets” refers to any company-owned systems or hardware. IT infrastructure is at the heart of all modern companies. IT assets encompass everything from networked desktops to company servers to backup hard drives. Without regular updates, well maintained computers to process data, most organizations would not be able to function.

In the digital age, IT asset management is crucial to the success of all organizations, and nothing helps IT asset management more than software. EAM software facilitates with IT asset management in two key ways:

  1. Its more practical for maintenance personnel to routinely perform inspections and maintenance on computer systems. By saving time that would otherwise be wasted, EAM software automates the scheduling of inspections and maintenance so that no IT asset is missed.
  1. EAM software also helps out IT workers by enabling them to file work orders with an ease that paper based systems just can’t match. This makes it much more likely that workers will file work orders in a timely manner, and equipment will ultimately be better serviced.

Careful monitoring and the judicious use of backups are both necessary to prevent temporary equipment failures from developing into long-term catastrophes. Only EAM software makes it possible for IT repair personnel to do their jobs to the best of their ability and give the equipment they are responsible for the routine service it deserves.

EAM Impact on Digital Assets

While commonly confused with IT assets, digital assets are not the same. The term “digital assets” refers to information based assets, not hardware based assets. In modern organizations all digital assets are stored using IT assets, but it is important not to confuse the two with each other.

EAM software improves the management of digital assets by enabling a direct supervision of 
document management
 that is just not possible with paper based systems. In paper based systems information is in the form of print outs, contracts, photos, blueprints all packed in filing cabinets. This sort of setup does not enable information to be accessed efficiently.

EAM software coupled with the use of digital information storage, enables digital assets to be accessed and monitored in real time, ensuring that they remain uncorrupted and any errors can be corrected. Document management is a snap with an EAMsystem as critical documents can be scanned and attached to any work order.

Although EAM systems is not yet employed by all organizations, but more and more companies are jumping on the EAMbandwagon as they realize the immense benefits of EAM related to the management of physical, IT, and digital assets.

Enterprise asset management is a crucial part of managing organizations. If it is neglected long-term problems always develop. The best companies use EAM software to proactively protect and maintain their assets.