5 Steps to the Benefits of EAM Software

If you read sales collateral from software vendors, you probably have been told that enterprise asset management (EAM) software will help you “improve the efficiency of work order input thus provide better data for asset lifecycle management.” That it “enhances mobility of maintenance teams” and that it “lets management spend more time making decisions.”

These are all great and appealing statements, but at least to me, they don’t really provide a very concrete benefit that most people can get their arms around. As someone coming from a plant maintenance background, and having since spent quite a few years implementing EAM software, here are my thoughts on what the benefits of EAM software really are, in simple and straightforward terms. Once we outline these benefits, I’ll lay out five specific ways these benefits may manifest themselves in your organization.

WHAT ARE THE BENEFITS OF EAM SOFTWARE?

A simple way to look at EAM is to view it like enterprise resource planning (ERP) for companies that invest a lot in building, maintaining and operating large and expensive assets. We expect a lot of the same benefits garnered from an ERP, only focused on engineering, constructing, maintaining and operating an asset from cradle to grave as opposed to managing repetitive manufacturing processes like materials requirements planning (MRP).

A standard manufacturer will have a lot of revenue tied up in inventory, and ERP really started out as a way to make sure the right inventory was on hand at all times, that not too much inventory was kept, and to coordinate the manufacture and delivery of products. By providing visibility and control over these things in a centralized way, MRP and later when tied to a financial/purchasing package, ERP helped manufacturing executives make better decisions and helped the keep the inventory requirements of the floor fed material as requirements dictated.

We may still have some inventory in an asset-intensive environment and we may be manufacturing something—chemicals, ships, petroleum products, electric power, machinery, steel, food products, what have you, but a lot more of our cost is driven by the assets we operate. Thus said, our enterprise application has to be built around the cost and productivity not of inventory, but the plant equipment. Read the entire white paper for more information.

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