Why is enterprise asset management important?

Organizations of all kinds have hundreds, thousands, even millions of assets. They are asset-intensive. For example, the French food services and facilities management company Sodexo manages 1.2 million assets across 24,000 buildings.

Assets come in many shapes and sizes — railroads, pipelines, manufacturing equipment, transportation fleets, windmills — and include virtually any piece of equipment needed to sustain production, services and operations.

EAM is important because it helps organizations track, assess, manage and optimize asset quality and reliability. As a result, maintenance teams gain greater control of complex environments and are able to:

Centralize asset information
A CMMS, as part of EAM, tells maintenance managers where an asset is, what it needs, who should work on it and when. It automates critical asset management workflows and makes them accessible and auditable.

Resolve issues before they happen
Asset management software supports preventive capabilities to maintain equipment for stable, continuous operations. It helps ensure warranty compliance and preempt issues that disrupt production.

Monitor assets smarter
AI-powered remote monitoring delivers actionable insight into current and expected states of assets. It aggregates data across departments and information silos, allowing for fewer, more accurate alerts and enhanced decision-making.

Maximize asset utilization
Historical and real-time data collected from IoT devices and analytical and diagnostic tools help extend the availability, reliability and usable life of physical assets.

Manage aging assets and infrastructure
Equipment lifecycles are extended through more informed maintenance strategies and by embedding risk management into business processes to improve return on investment.

Elevate maintenance management
IoT, AI and analytics enhance equipment maintenance practices. Asset tracking and traceability meet increasingly complex environmental, health and safety requirements.

Consolidate operational applications
EAM helps establish a single technology system to manage virtually all asset types. Processes are unified and standardized for wide-ranging asset functions across an enterprise.

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