General Information

Enterprise Asset Management System: Successful implementation within your business

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Modern business organisations heavily rely on Enterprise Asset Management (EAM) system as it has a lot of benefits for the companies. However, you need to implement it effectively to make the most of the technology. Today, you can see EAM systems being used by mining, manufacturing, ports, fleet, utility companies and others who have physical assets to manage. Let’s see what an EAM system is and how it can boost your business’ productivity and profits.

What is an EAM system?

Using a digital process to plan and control all the activities necessary to maintain various business assets throughout their operational life cycle is known as Enterprise Asset Management (EAM) system. These activities include scheduling of planned maintenance, optimisation of asset productivity, record-keeping of all data related to breakdowns and malfunctions, stock and inventory control, purchasing information, etc.

Modern EAM can manage a diverse type of assets which could be fixed assets such as buildings, manufacturing plants, machines or mobile assets that include vehicles, ships and mobile machinery. To manage costly physical assets, you need to plan and execute work carefully.

The software handles various aspects of operations in organisations with a lot of assets. EAM features include asset life cycle management, scheduled maintenance activities, warranty management, integrated mobile handheld options and online software interfaces.

Ensure the successful implementation of an EAM

Deriving the maximum benefits from your investment on ERP solutions is directly related to the efficiency of the EAM software, its implementation, and the commitment of people involved.

You should be careful to:

Define the requirements and expectations of asset management software

Since the selection of a perfect software package is essential for successful EAM implementation, you must clearly define the requirements and the expectations that you have from it.

Compare and analyse the alternatives

An organisation needs to choose the right asset management software and that requires time and effort, as you need to understand and analyse the options available. The best approach is to work with a specialist and figure out what kind of software would give maximum scalability and customisation according to your needs.

Prepare asset data

If you want your EAM to make your operations more efficient, then the data provided to the software has to be accurate, well organised and accessible. You need to invest efforts into preparing data ahead of the software implementation.

Installation and testing

Before your EAM goes live, it is essential to install and test the software. This allows you to figure out any glitches and identify problems that were previously not known and find solutions for them.

Data entry into the new system

After the software goes live, asset data should be fed into the system and prepping it for real-time organisational usage should be ensured.

Training staff for new Enterprise Asset Management System

To make the best use of your EAM system, the staff and important personnel need to be well versed with it and provided detailed training and support. Well-trained personnel would use the system better and help your organisation reap rich dividends from the investment and effort.

Once you have taken the call to acquire an EAM for the business, you can revert to the steps listed here to ensure a successful and smooth installation of the same and benefit your business.