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What is Enterprise Asset Management?

Enterprise Asset Management (EAM) software drives digital transformation for companies by decreasing equipment downtime through enhanced analytical and maintenance abilities, which increases asset lifecyclesu2014ultimately saving companies thousands to millions of dollars in repair and replacement costs.

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What is Enterprise Asset Management?

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  1. What is Enterprise Asset Management? Enterprise asset management is a platform that catalogs, monitors, and helps control and maintain equipment and assets. Companies and industries that rely on successful asset management include any large enterprise with widespread assets at multiple locations like in construction, manufacturing, municipal services, and even healthcare.Modern EAM softwarepowered by artificial intelligence (AI) can act like a third eye to monitor and digest sensor-derived internet of things (IoT) data to provide tangible asset insights that can grant companies accurate and up-to-date asset counts, preemptively signal for repairs, locate lost equipment and any items in the field, and report on the current state of all critical assets. What are the differences between Enterprise Asset Management (EAM) Systems and Computerized Maintenance Management Systems (CMMS)? A CMMSs primary focus is on the maintenance of equipment and machinery, whereas EAMs include maintenance procedures within their programming and take a broader and more in-depth view of your entire inventory. EAM-generated asset management analytics provide intelligent insights for cost reduction and operation optimization during the whole asset lifecycle, from planning and procurement to disposal.

  2. What are the Benefits of Enterprise Asset Management Software? The insight and control over your entire asset and equipment inventory unlock critical benefits for businesses that optimize operations, reduce downtime and overall costs, and improve customer service and relationships. Cloud asset management, or asset management connected and centralized under one cloud-based platform, combines field service and asset management to transform operations digitally while consolidating all information under one roof. ? Does My Organization Need Enterprise Asset Management Software? Before your company implements a new technology, make sure you’ll benefit from purchasing and implementing fresh tech, as that isn’t always the case. There’s no point in spending money on something that isn’t built for the size or scale of your business, as this could ultimately do more harm than good. If you’re ready to take tighter control of your asset and equipment management with EAM software, contact KloudGin today to learn how we can custom-tailor our Asset Management Suite to meet the needs and scale of your operations.

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