Enterprise Asset Management: The Backbone of Every Business

Enterprise Asset Management: The Backbone of Every Business

- in World News
Comments Off on Enterprise Asset Management: The Backbone of Every Business

A major misconception among businesses often is that an Enterprise Asset Management (EAM) software is not for them. At times, the word ‘enterprise’ is misunderstood as something that is only for large international businesses. However, every business organization in Singapore that aims to grow in its domain and make a mark in the years to come, needs a modern enterprise asset management system. Any organizations that use resources and assets to run their operations need an EAM to optimize their asset usage, and that basically means every business out there.

Enterprise Asset Management

Why you need enterprise asset management

A world-class enterprise asset management system would help you transform the way you manage your physical assets throughout their lifecycle. Whether you are operating a power generation company, a manufacturing plant, an airline or a transportation business, there are customizable and need-based EAM solutions available in the Singapore market. The leading enterprise asset management software providers offer various industry-specific variants of the EAM such as a transport management system for the transport and logistics sector and so on. You can use them to better use, manage and monitor any fixed or mobile assets such as buildings and vehicles, etc.

The aim of an enterprise management system is to offer adequate functionality for managing, planning and scheduling of work. You can use it to create work orders, oversee the maintenance history of your assets, order and track replacement parts and equipment and also manage equipment assemblies and components.

In the post-pandemic scenario, there is a greater emphasis on efficiency, lean operations and usage of cutting-edge technology to reduce human touch in operations. The EAM providers use latest technologies such as cloud, AI, Machine Learning, IoT and data analytics to create end-to-end solutions that help you in:

  • Superior maintenance management of all assets powered by predictive maintenance and inbuilt analytics
  • Mitigation of equipment risks courtesy of greater security standards adherence
  • Elimination of regulatory issues by automated compliance tracking and asset tracking to ensure everything is audit-ready
  • Streamlining of operations and superior asset performance throughout an asset’s lifecycle to generate better ROI

You can use modern enterprise asset management to plan, budget, approve and acquire assets through a single dashboard. From capital purchase of new assets to commissioning them, managing supplier contracts to taking care of payments, a cloud-based enterprise asset management system makes it a breeze. Not only that you can also plan your asset retirement by smartly monitoring the performance, maintenance history and other such data.

There are a number of benefits that the enterprise asset management or its industry-specific variants such as the transport management system can offer you. These include:

Mobility through cloud access: A cloud-based EAM will not require any elaborate hardware to run it. Thus, you can easily access and operate it remotely from any device including a smartphone.

Zero UI: Futuristic solutions are focusing on reduction UI by integrating role-based HUBs, Mail BOTs and AI-driven intuitive operations.

A modern EAM would offer 360-degree visibility of all assets across locations, their performance, operational costs, ROI and other such data in a single dashboard. Thus, you are always in control, no matter the place or time!

About the author

Blogging and Travelling is my hobby and I write what I know and update my blog regularly so that you can enjoy my articles. Set new standards for marketing salsa in Cuba. Spent several years managing wool in Cuba. Developed several new methods for marketing magma in Africa. Spent the better part of the 90's marketing fried chicken for the government. In 2008 I was investing in teddy bears in Salisbury, MD. Gifted in selling rubik's cubes in Bethesda, MD.

Related Posts

You may also like

Tips on Drama-Free Valet Parking

Many restaurants and hotels provide Valet parking services