Do you have traditional computerized maintenance management systems in your facility? Then it is time for an upgrade to an Enterprise Asset Management (EAM) software since the former doesn’t leave the confines of work orders, preventive maintenance, inventory control and equipment records.
EAM software expands these functions across all the departments, offering you a more robust history on the entire lifecycle of an asset. Let us look at 5 reasons why you must deploy EAM in a facilities setting.
It Reduces Risk
An EAM software consists of several tracking tools, documentation support and reminders, all of which help in achieving the following:
– Reducing the risk of lost production through routine maintenance
– Reducing the risk of theft through physical asset inventory control
– Reducing the risk of injury within the facility
– Reducing the risk of fines and bad publicity by preparing you for sudden external inspections
Allows You to Organize the Asset Portfolio
Every facility consists of several assets that need to handled by various teams. It would be really tedious if you had to handle the corresponding paperwork manually. With an asset management software, you can organize your asset portfolio. It reduces the burden of paperwork by allowing you to assign every asset to a physical location and all documents to an association.
You can also manage the documents in a more efficient manner by electronically capturing invoices, receipts or purchase orders. Moreover, you can eliminate inefficient redundancy and expenses by using the same electronic filing system across all departments
When there are a number of different assets in the facility, you will end up spending a lot of time finding information on the organizational assets. CMMS will save you time spent on searching information on assets by streamlining communications through:
– Smart filtering: The asset portfolio can be enabled with smart filtering which helps in reducing the time spent on information searches.
– Proper context: You can arrange and organize all the information into its proper context. When you have a proper place for every piece of information, you will find it much easily when you need it.
– Eliminate checklists: EAM lets you create electronic and mobile checklists that are enabled for smartphone or tablets. This allows you to replace paper checklists and work orders.
– Equipment databases: The asset specifications come pre-loaded on EAM, thus reducing initial software set-up time.
Helps in Offering Better Service
Facility maintenance software helps you improve your service by preventing unproductive downtime and related expenses. You can also improve the following:
– Quality: The software features tools that can help you conduct proactive inspections to ensure high quality of all the asset deliverables.
– Responsiveness: EAM ensures that all your assets are well maintained, which further ensures that they operate to their maximum potential whenever you require them too. When the assets’responsiveness time is short, you can increase your productivity and profits too.
– Reliability: Since you can always keep a track of all the assets’performance at all times using the EAM software, you can stay assured that the equipment is reliable.
– Safety: You will have the maintenance history and detailed checklists at your disposal, thanks to EAM. This will allow you to analyze safety within the facility and take corrective actions if necessary. Your processes will improve and you can prevent accidents or recurrences within the facility.
Implementing EAM software will help you save money in different ways. It helps in eliminating costly emergency repairs, reducing fines and negative publicity through preemptive inspections, increasing the asset’s life and optimizing the ROI of all your assets. Preventive maintenance software also helps in capitalizing on lower insurance premiums and accurately predicting the relative energy costs associated with asset portfolios. Lastly, you can save on administrative overhead due to processes being more efficient and also save on costly, ill-informed decisions which are a result of poor data integrity.
You will end up spending more than you want if your asset portfolio depends on old models of on-premise facility maintenance software as there will be more hidden or unforeseen costs in terms of money, time, service, organization, etc. NEXGEN’s EAM solution has a broad functionality which will not only increase productivity but also keep that precious moolah in your pockets.