3 Best EAM Software & Buyers’ Guide
Contract Risk Claims Insurance software Web-based for approval Workflow Document and Log history management eMail notifications Date & time stamps Contact notes Upgrade/implement new web-based system cloud or on-premise
Digital platform enabling businesses Save money in legal & accounting fees Managing cap tables & employee Share plans efficiently Empower private companies to share equity Enable shareholders to trade equity without going public
Original Only FCA regulated equity management Fully integrated Issue shares Options instantly via platform & see updated 100% accurate cap table Real time Digital Shareholder signing & authorisation
EAM Software also described as a “CMMS on steroids,” but can be bit of an oversimplification. As a initiating point, however, the common functionality of a CMMS is :
- Asset tracking
- Inventory management
- Preventive and predictive maintenance
- Work order management
The software assist users in managing and maintaining assets and equipment. It can help in generating work orders by using reports thru identification of areas of improvement. Some EAM systems will provide CMMS functionality. But an EAM takes it to the next level by contributing to complete life cycle management functionality to provide for users realize the complete return on investment in assets.
EAM systems came to the forefronts in the 1990s, to be taken as a solution to take advantage of computer networking thru the Internet. Companies could adopt just one EAM system and standardize with it across the enterprise In place of using isolated CMMSs at each facility. Some of the CMMS sellers have morphed the product into an EAM system, added features or marketed the system as handling both. When the distinction is blurry, the progress of EAM provides larger companies robust solutions for the enterprise maintenance goals.
Companies will wish to use an EAM while taking a more holistic, analytical view of operations. A CMMS is a repository for data—but an EAM system can facilitate data-driven decision-making. The some common differences between CMMS and EAM functionality are :
- Tracking and storing machinery and spare parts
- Analyzing data about machine downtime, work order completion rates and maintenance costs
- Scheduling and tracking maintenance thru work orders
- Tracking and storing machinery and spare parts for broader asset categories, having IT assets and facilities
- Analyzing data about various types of assets and financial information for all the departments and locations at a higher level
- Scheduling and tracking maintenance, planning and following capital projects thru completion
Features of EAM Software
EAM applications fully expand the scope of a stand-alone CMMS without maintenance management, to maximize the useful life of assets. The application can have :
Asset hierarchy. Forming an asset hierarchy assists in keeping track of all the pieces of equipment across multiple locations. For instance , a company may wish to group CNC (computer numerical control) machines separately from those which are manually controlled, both under the head of “plant machines.” Going further, every CNC machine can be separated into the individual components, giving management a full view of every assets, component parts and how they are related. Users can help in assigning owners to assets to help keep things organized while scheduling work.
Purchasing and procurement management. The solutions can assist with requesting quotes, ordering spare parts, and logging other vendor information. Many systems will remind users for ordering parts based on established minimums or dates, and can help in storing information about vendors, such as average delivery times and pricing. With the information of this kind getting logged, management can more efficiently manage inventory by improvement in generating reports and analyzing data related to them.
Project management. This permits users for generating projects and organize budgets, assets and employees from start to finish. Project management tools can help in displaying different metrics and key performance indicators, like expected finish dates and planned versus actual costs. EAM users may wish for tracking the progress of an equipment overhaul in a particular department, and monitoring the construction of a new facility.
Condition monitoring. The solution can be found in CMMS and EAM. It provides maintenance personnel a way for monitoring an asset’s operating conditions by streaming real-time data, collected thru sensors, into the system. It permits for the most accurate readings, so problems are identified at a fast pace.
Safety management. This assists management to stay on top of various policies related to fostering a safe place for work and its environment. In it, users can be helped in defining procedures, store related documents, and establish responsibilities for employees and workplace hazards.
Inspection management. Assist in managing occasional inspections on equipment, and generating work orders automatically when inspection results fall outside established ranges.