Key Components of an EAM Solution

IB Iberedem
September 4, 2024 . min read
Components of an EAM Solution

Components of an EAM Solution

A quick question. If you had the option to have your activities automated, such that you have to do little to no manual labour at all, would you stick to the old school or jump on this new wave?

Think for a second about the old-school pattern of doing things, where you might forget deadlines, lose important papers, and spend more time and money trying to replace lost documents if they get missing.

Now think of not having to worry about any of that just because there’s a system in place that takes care of all of this for you. A system that keeps track of all important details, making work more organised and efficient. Makes sense right?

No one wants to keep spending money on things that can be sorted with ease. An EAMS plays a vital role in managing your assets. It spans across various assets of an organisation, including fleets and facilities. It also cuts across managing your budget to controlling costs. This is precisely what the Instanta Asset Management Software offers your organisation. 

Let’s walk you through it.

Fleet Management

If you are looking for a fleet management solution in Africa or Nigeria to reduce vehicle idling and fuel theft, track vehicle’s location, driver’s behaviour, and more, you need the Instanta Fleet Management Software. 

With an EAMS like Instanta, your fleets will always be in optimal condition. You get an accurate account of the performance and maintenance of vehicles in your organisation’s fleet and make critical changes beforehand to avoid embarrassing breakdowns.

Facility Management  

The functionality, comfort, and safety of buildings and other facilities are top priorities for facility managers and an organisation.

Managing your facility, using spreadsheets, or even worse, paper and a bunch of files will only lead to errors and a potential loss of important data. Considering the significant errors that occur in the process and how tedious that would be, you might be up for a bumpy ride. That’s not something your organisation needs as it only gets worse no matter how hard you try. 

Manual processes have proven over time to be ineffective in proper Facility Management. Hence, a need to use an EAMS like the Instanta Facility Management Software

This EAMS ensures your organisation’s facilities are in top-notch condition, spotting issues even before they occur so your facility management team can act proactively.

Asset Life cycle management

With an EAMS, tracking your asset’s life cycle is easy. From purchase to disposal, you’ll always know the status of your assets, making it simple to extract maximum value.

Maintenance Management

An EAMS ensures proper maintenance of your organisation’s assets by deploying effective proactive and predictive maintenance strategies. These maintenance protocols prevent unplanned downtime by scheduling, tracking, and implementing maintenance activities. 

Budget Management

Every organisation wants to maximise their budget and spend only on necessities. Your organisation is likely going to spend excessively without a tool that accurately manages budgets due to numerous loopholes. 

That’s where an EAMS comes in. An Enterprise Asset Management Solution makes it easy for your organisation to plan and control costs associated with their assets as the processes are automated.

Data Analysis and Reporting

Instanta’s EAMS turns asset data into actionable insights, helping you monitor performance and predict future trends, so you’re always one step ahead. 

Customisation and Scalability 

Every business is unique, and so should its Asset management solution. Customisation and scalability are crucial to ensuring the EAM system grows with the business by tailoring it to suit specific organisational needs and scaling it as the business grows.

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Can an Enterprise Asset Management Solution be Integrated and Customised with Other Tools?

Integrating with other software systems, like ERP and CRM, is a key feature of modern EAM solutions. This integration makes everything work better by improving data accuracy and giving you a clear view of your operations and assets.

For example, imagine a company using spreadsheets and reports to manage its assets, it’s easy for asset management and production scheduling systems to get out of sync and create unwanted chaos due to the manual system. The asset management team would constantly struggle to piece everything together, which could lead to machine breakdowns—not because they’re not doing their job, but because manual processes are unreliable and prone to mistakes.

But when you integrate an EAM system with scheduling software, most of the hard work gets automated. The asset management team can stay on top of everything, carrying out preventive or corrective maintenance at the right time. This reduces breakdowns and helps assets last longer.

Customisation is another important aspect. Just like you can personalise your phone with themes and settings, businesses can adjust an EAM system to suit their specific needs. Customising the system allows companies to get the most value out of it.

In short, an Enterprise Asset Management System isn’t just about keeping track of assets; it helps businesses work smarter and more efficiently.

Here are some examples of how integration and customisation can help.

ERP Integration

Integrating an EAMS with an Enterprise Resource Planning (ERP) system creates a unified financial and asset management platform by streamlining financial operations related to asset costs, maintenance expenses, and capital investments. 

For instance, when an asset requires maintenance, the EAM system can automatically update financial records in the ERP system, reflecting maintenance costs. This integration ensures consistent data across maintenance and financial departments, aiding in accurate budgeting, cost tracking, and financial planning. 

SCM (Supply Chain Management) Integration

Integrating an EAMS with a Supply Chain Management (SCM) system helps align asset management with supply chain activities like inventory management and procurement. For example, when a part reaches a low stock level in the EAMS, it can automatically trigger a procurement order in the SCM system. This prevents stockouts or overstocking, ensuring that maintenance isn’t delayed because of unavailable parts.

CRM Integration

Integrating enterprise asset management software with customer relationship management software can enhance customer service and support by linking asset data with customer interactions. 

The EAMS ensures that asset-related issues impacting customer service are quickly addressed, enhancing customer satisfaction. Remember, there’s no business without the customers, so whatever enhances customer experience should be treated with utmost priority.

Customization Capabilities

Customization allows businesses to tailor the EAM system to their specific and unique processes and needs rather than forcing the business to adapt to the software. For instance, a facility management company might customize its EAM system to include specific modules for building maintenance and compliance management. 

Mobile and Cloud-Based Access

EAM systems integrated with mobile technology or cloud platforms allow field technicians to access and update asset information in real-time. This enhances accessibility, allowing maintenance personnel to update and retrieve asset information on the go. For instance, field service teams in telecommunications can use mobile-enabled EAM to access asset information remotely, update work orders, and report issues instantly.

Conclusion

Managing your organization’s assets efficiently is crucial for long-term success. An Enterprise Asset Management System (EAMS) like Instanta Management Software offers all the key components needed to keep your operations running smoothly. From fleet and facility management to asset lifecycle tracking, maintenance management, and budget control, Instanta has it all. With robust data analysis, customisation capabilities, and seamless integration with tools like ERP, SCM, and CRM, Instanta ensures that your assets are always optimized and your business stays ahead of the competition.You can schedule a demo to learn more about how our Enterprise Asset Management Systems can boost your company’s productivity and save you costs in the long run.

Written by
IB Iberedem
. min read
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