No matter what kind of organization you run, making it more efficient and profitable is your top concern. Enterprise asset management can help you achieve both goals.

What Is Enterprise Asset Management and How Can It Make Organizational Operations More Efficient?

Enterprise asset management, or EAM, is a set of practices and tools designed to easily manage, track, and analyze asset cost and performance throughout the lifetime of each asset. EAM maximizes asset lifetime, optimizes operational processes, and minimizes costs.

The comprehensive view EAM provides into the present and past asset states allow managers to improve the quality of asset use in a way that minimizes downtime, reduces costs, and, ultimately increases profit.

What Is the Difference between EAM and CMMS?

Some people use the terms EAM and CMMS interchangeably as if they refer to the same thing. This is not exactly true. A CMMS is a Computerized Maintenance Management System. It is used to automate maintenance tasks and implement more cost-effective preventive maintenance strategies. EAM is a broader term, for doing this job and much more. EAM is not just a suite of software tools, it is also a set of practices. CMMS is just a part of EAM.

What Are the Benefits of Using EAM?

There are many benefits to EAM:

  • It streamlines inventory management. EAM makes sure you always have the right parts on hand when they are needed.
  • It minimizes downtime by instituting preventive maintenance procedures and ensuring that resources are always available when needed.
  • It extends asset lifetime. The deep insight into asset history EAM gives allows managers to extend asset lifetime by improving utilization.
  • It reduces costs. EAM’s analytic tools allow managers deep insight into asset utilization and the actual spend on each asset, improving sourcing and lowering costs.
  • It centralizes asset data. This makes personnel in every department easily able to get the information they need to do their jobs.

Contact an EAM Expert Today

To find out what enterprise asset management can do for your organization,¬†contact us at GP MaTe¬†today. We can show you how streamlining maintenance procedures and managing assets can optimize your organization’s operations and improve profits.