Choosing the Best EAM Software: Tips And Tricks

The process of buying asset management software for enterprises can be challenging, as there are numerous aspects to keep in mind. The appropriate EAM simplifies asset management and alleviates your concerns about unexpected machinery failure.

However, with all the data and information available, choosing the best EAM software can confuse even the most experienced leaders. When choosing EAM software, it is important to understand your pain points first. Following this are other factors to consider, such as the price and your overall budget. In the article below, we will look at the different factors that owners must consider when choosing an EAM for their facility.

Why Is Enterprise Asset Management Software So Important?

In today’s world, enterprise asset management software is no longer a “nice thing to have”; it is a necessity that helps organizations take care of their physical assets better. The platform tracks the health of your assets and detects issues long before they become a big problem. So, if you have a large-scale facility, you can minimize the need for manual labor for maintenance operations and automate tasks. But what counts as physical assets in an organization?

• Equipment and machinery
• Vehicles and fleet
• Building and facilities
• Infrastructure such as utilities and plants.

The tool tracks what you own, where it is, and its current condition. EAM, when paired with the best AI productivity tool, will help organizations improve their employee output and simplify workflows.

Choosing the Right EAM Software

EAM takes care of every aspect of your physical assets, starting from the initial purchase to their operations and finally their retirement. In an asset-intensive environment where keeping a check on every piece of machinery, tool, or part is impossible manually, the tool makes the process easy and less time-consuming while being extremely cost-effective.

Let us now look at a few points that you must consider when choosing the right tool for managing assets in your organization:

1. Think About Your Users/Employees

You may finalize an EAM based on your budget and convenience. But what about the people (your employees) who are going to use the tool on a daily basis? So, before you make any decisions, it is important to discuss what your employees are looking for. Ask them the following questions and analyze their responses:

• What are the problems they expect the EAM to solve?
• Do they want software that is simple to use?
• Which features will make their job simple for them?

You can also provide short demonstrations of a few shortlisted software options to assist them in making a more informed decision.

As a leader, you may focus on the cost and the implementation time when choosing software. But when you speak with your employees, you will be able to understand what will actually help them. Gathering your employees’ point of view will save you from making a wrong decision and will help you invest in a truly beneficial solution.

2. Determine the Problems That EAM Must Solve

Ask yourself which problems‌ implementing EAM software will solve. For this, determine the current points that your organization is facing and understand whether you will be able to address them with enterprise asset management software.

Some of the common problems that an EAM solves in an asset-intensive organization include:

• Keeping track of the asset health
• Scheduling maintenance tasks
• Making data-driven decisions
• Being compliant with industry standards
• Being audit-ready by having all the essential reports, data, and information handy.
• Providing a safe working environment for employees

The most popular enterprise asset management software has features that solve all the problems mentioned above. The predictive analytics feature helps make data-driven decisions, and through advanced technologies, you can create a safe working environment. Also, through its high-tech sensors, you are always a step ahead of unexpected machinery failures.

3. Check Its Core Features

EAM must meet the needs of modern enterprises. It must make asset management simple and automate maintenance scheduling. Here are some of the essential features that the tool must have:

• Asset Lifecycle Tracking:

The EAM must be able to track each asset in your organization through its entire lifecycle. Starting from the initial procurement to its deployment and final disposal, all data about the asset must be tracked by the tool.

• Real-time Hardware ITAM:

The tool must also track every asset in real time and monitor its key metrics, such as performance, utilization rate, and overall performance.

• Maintenance Management:

It must also allow you to take proactive measures to keep your equipment running efficiently at all times.

4. The Scalability of the EAM

The last aspect to check is its scalability. Most businesses are looking for an EAM platform that can grow with their business. When the software can grow with your growing needs, you don’t have to worry about its operational efficiency.

The tool must also be able to expand its capabilities with your business, ensuring that you don’t need to add any new integrations to meet your needs.

Conclusion

Choosing the right EAM will help improve your organization’s productivity and make managing your assets simple. Now, to choose the right tool, ask yourself and your employees the right questions and make an informed decision.