Enterprise Asset Management (EAM) is a key approach to asset lifecycle management within companies. Much more than a predictive maintenance tool, it touches on aspects such as strategic planning, data-driven decision-making and optimization of operational performance. EAM is positioning itself as a major lever for modern companies seeking to maximize the value of their assets and reduce costs. Find out the answers to your frequently asked questions about this essential system.
Enterprise Asset Management (EAM) is an approach to optimizing the management of an organization’s assets throughout their lifecycle. All asset classes are concerned, including equipment, facilities, vehicles, information technology and other resources essential to the smooth running of a business. EAM encompasses processes such as strategic planning, acquisition, efficient use, preventive and corrective maintenance, as well as the replacement or decommissioning of these assets. The ultimate aim is to enhance the value of assets while minimizing the associated costs and risks.
It’s easy to associate EAM with a computerized maintenance management system, such as Computerized Maintenance Management Systems (CMMS). However, an in-depth analysis of the two systems reveals that there are differences between EAM and CMMS.
CMMS can be seen as a much broader aspect of EAM. It centralizes information to facilitate and automate maintenance management processes within an organization. CMMS software focuses on optimizing maintenance operations by planning and tracking preventive and corrective maintenance activities. The system focuses on three aspects:
EAM takes a broader perspective, covering the entire asset lifecycle, from acquisition to disposal. It therefore encompasses strategic planning, cost management, maintenance
regulatory compliance and other asset-related aspects. EAM includes processes such as risk management, strategic decision-making and performance optimization.
EAM tools enable companies to achieve a number of objectives. These can be grouped into at least three categories.
Through effective management of corporate assets, EAM serves to optimize organizational performance. Its aim is to improve operational efficiency and maximize asset utilization. By closely aligning asset management with the company’s strategic objectives, EAM contributes to the realization of the organization’s overall mission and vision.
From a financial point of view, this process obviously helps to reduce costs and optimize investments made by the Group. EAM seeks to maximize investments in several ways:
These strategies contribute to more efficient financial management and the maximization of asset value.
In operational terms, EAM aims to maximize the availability of assets at the right time to ensure continuous operation of tasks. It promotes safe operations by ensuring that assets meet safety standards and comply with regulations.
The operation of an EAM solution is based on several key functionalities that form part of an integrated approach to asset management.
All data associated with the company’s assets is documented and stored in the software. It is therefore possible for the administrator to make modifications or generate reports. Often based on IoT data, EAM tools provide even more precise information on equipment, making it easier to manage assets at every stage of their lifecycle.
Work processes are planned and scheduled via EAM tools, optimizing their execution for timely completion. Visualizing orders and job orders becomes easy for users thanks to diagrams, improving access to order details and associated requirements.
Numerous other functionalities are also available:
Popular solutions on the market include IBM Maximo, SoftExpert EAM, Infor Cloud suite EAM, Fortia and Hector.
The asset lifecycle is a fundamental concept in Enterprise Asset Management (EAM). It refers to the process by which each asset is purchased, stored, used in its dedicated environment and maintained over its lifetime for as long as it remains useful. A team is responsible for monitoring the health and use of each asset, using a variety of methods.
There are four key stages in the life of an asset:
The importance of the asset lifecycle in EAM lies in its ability to guide organizations in the optimal management of their resources. By adopting the right approach to managing their equipment, companies can maximize asset value, minimize costs and risks, and make strategic decisions.
EAM provides an overview of asset status and performance. It therefore enables companies to identify and assess risks. The system also integrates preventive maintenance tools designed to enable you to mitigate the risks associated with failures to minimize disruption to important tasks such as production. Regulatory compliance is enhanced thanks to the ability of EAM systems to automate the monitoring of standards and regulations.
At the same time, EAM facilitates decision-making, providing important information to guide strategic choices. The analytical functionalities of EAM systems, often based on IoT, enable better investment decisions to be made by assessing asset profitability and associated maintenance costs. Thanks to the real-time dashboards and reports offered by EAM tools, you have clear visibility of asset performance and risk.
Implementing Enterprise Asset Management offers significant benefits to a variety of industries, especially those where EAM plays a critical role in business achievements. The sectors that benefit most are numerous:
In the healthcare sector, EAM is essential for managing medical equipment, hospital infrastructures and medical devices. EAM software used in medical facilities optimizes preventive maintenance planning and ensures regulatory compliance while maximizing equipment availability.
Enterprise Asset Management plays a key role in optimizing industrial operations. It enables the implementation of maintenance strategies based on real data. As a result, companies can prevent unplanned downtime, extend equipment lifetimes, and minimize the cost of emergency repairs.
EAM software facilitates inventory management by automating the tracking of spare parts and consumables required for maintenance. This avoids unnecessary overstocking, while ensuring that essential parts are available at the right time.
Thanks to its functionalities, EAM also enables you to better manage human resources. For example, you can efficiently plan technicians’ tasks and better schedule interventions. Workers can be assigned to each job more efficiently, according to skill requirements and priorities.
Enterprise Asset Management (EAM) is an indispensable pillar of every company’s internal processes. Its benefits can be seen in reduced maintenance costs, optimized performance, minimized risk and guaranteed regulatory compliance. EAM enables companies to make better decisions and better manage the risks associated with their assets. As technology evolves and competition increases, every organization can rely on this tool to maintain optimum profitability.