Digital solutions can be found through enterprise asset management
Managing assets is a necessity which every organization must perform affordably and optimally. For asset-intensive firms this is doubly important, and there are digital solutions available to simplify and streamline this.
The question, then, is which enterprise asset management (EAM) service is best for your business? The answer can be found by considering the following criteria.
Outline your asset management requirements
Before you begin investigating specific EAM software packages, you need to know what needs your company has so that you can pick a solution that meets them.
For example, perhaps you are looking for a package that will reduce costly downtime through focusing on in-depth analytics and automated alerts. Alternatively your main goal may be cost-cutting, in which case software that can sniff out inefficiencies in your procurement and maintenance strategies might make sense.
Armed with a list of requirements, you will be in a better position to select a suitable EAM suite, rather than being baffled by the choice or beguiled by marketing jargon.
Consider vendor reputation
Another useful approach to take when narrowing down your EAM options is to weigh up prospective vendors based on their reputation first, and their feature set second.
If a vendor has a flashy, feature-packed solution but is not capable of helping customers when crises arise, then it could be worth avoiding.
Conversely if the vendor has a solid, independently recognized reputation for excellent customer service and support, this could give it the edge even if you have to make compromises elsewhere, such as in terms of price.
Without effective on-the-go functionality, an EAM solution is unlikely to be efficient or convenient for modern businesses.
The best services will be those which can be accessed from mobile devices, meaning that employees can harness them when they are on the move, whether on-premises or remotely. Thus data can be delved into and maintenance needs met more flexibly.
Mobile apps and browser-based dashboards are fairly common in this segment today, so it is sensible to compare the user-friendliness of the interface and the compatibility of the software, rather than just assuming that any promise of smartphone and tablet support will suffice.
Scrutinize training resources
Every EAM solution will have a learning curve to overcome, and this is better done with a combination of expert instruction and detailed documentation.
Sometimes the size of the vendor will impact upon the kinds of training resources that are available. From in-person training sessions to web-based learning, the extent and quality of these resources can guide your choice.
No one knows what the future holds for their business, but if you are planning for growth then you want to know that the software you use to manage mission-critical assets will be able to grow with you.
Scalability is handled better by some platforms than others, and part of this will come down to whether the software is hosted on-site or powered by the cloud.
Check up on costs
Each EAM service will have its own costs to bear, and it is wise to weigh up all of the potential expenses before you commit to just one platform.
Costs not only come from the software itself, but also any added fees associated with the aforementioned access to training and learning resources, as well as any other hardware investment which may be necessary on your part.
As you can see, selecting the right EAM solution is not a process worth rushing. By assessing the variables, looking at your own needs and finding a package that brings the two together, you have the opportunity to choose something transformative.