Best Enterprise Asset Management (EAM) Software

Best EAM software are embrace asset management, ezofficeinventory, emaint, saphhireims, Ramco EAM on a cloud, and MVP plant. Enterprise asset management software helps monitor the business to manage and meet critical asset requirements.

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List of 20 Best EAM Software

Showing 1 - 20 of 32 products

Emergents | 2024

IBM Maximo is one of the best enterprise asset management software for managing assets, monitoring, predictive supervision, and reliability. It combines artificial intelligence, the internet of things, and analytics to optimize performance, boost asset life cycles, decrease operational downtime, and lower costs. Learn more about IBM Maximo

Emergents | 2024

Software by UpKeep Maintenance Management

UpKeep is one of the greatest EAM tools in which users can capture a picture of damaged equipment, make a work order, and schedule a repair right from their mobile device. The UpKeep system is aimed at facility & manufacturing managers who want to improve communication by enabling real-time status updates for their teams. Learn more about UpKeep Maintenance Management

High Performer | 2024

Keeping the World up and Running

EAM software solutions, eMaint, allows supervision experts to monitor, capture, stock, and share documented asset performance data to sustain and extend their equipment's life. Workflow optimization, commodities and spare part tracking, and automated preventative and predictive maintenance scheduling are some of the primary eMaint features. Read eMaint CMMS Reviews

Contenders | 2024

Software by CMMS Data Group

The MVP One platform helps businesses optimize asset performance and maintenance strategies with integrated enterprise asset management software. In addition to tracking, scheduling, and planning maintenance activities, users can monitor their equipment's performance in real-time with its comprehensive asset management module. Learn more about MVP Plant

High Performer | 2024

Post-modern & cognitive Asset Management Software

An enterprise asset management system, Ramco EAM on Cloud gives businesses real-time access to information about their manufacturing, finances, supply chains, clients, employees, and more, with integrated business intelligence. You can deploy the solution either on-premises or in the cloud. Learn more about Ramco EAM on Cloud

Contenders | 2024

Software by Maintenance Assistant Inc

A leading cloud-based enterprise asset management software, Fiix helps organizations organize their maintenance departments, manage maintenance backlogs, and work toward preventative maintenance by helping them stay on top. EAM software companies allow for addressing work orders and material assets, schedules, and maintenance tracking while preserving precise records of asset performance and supervision history. Read Fiix Reviews

Emergents | 2024

Accruent's Maintenance Connection is an industry-leading EAM system multi-site solution that assists supervision teams in transitioning from reactive to preventive asset maintenance, extending asset life, and maximizing ROI thanks to a powerful & easy-to-use platform, easy implementation, and exceptional customer support. Read Maintenance Connection Reviews

Emergents | 2024

The Fracttal EAM system is the most powerful on the market. It allows any organization or industry to manage maintenance innovatively and uniquely, enabling your organization to achieve its digital transformation goals, extend your assets' useful life, and optimize team productivity. Learn more about Fracttal

By managing the entire asset lifecycle with the SAP EAM system, you can optimize asset use, reduce costs, manage capital expenditures better, and maximize ROI, including fixed assets, plant, and equipment. SAP EAM solutions offer real-time visibility into asset performance and powerful analytics, making optimizing asset usage, shrinking costs, and reducing capital expenditures easier. Read SAP Reviews

Most Reviewed

Unite Your Data & Empower Your Team

A unique combination of enterprise asset management solutions, CMMS, and lubrication management, Redlist provides users with a robust solution that can be scaled and implemented seamlessly. In addition to improving communication and empowering team members to get more done, Redlist's offline-friendly mobile app allows users to continue working without a signal and provide valuable data to upper management. Learn more about Redlist EAM

Software by Nuvolo Limited

The Nuvolo cloud computing platform enables enterprises to use ServiceNow, providing workflow automation, field service management, and space management to enterprises. With Nuvolo, organizations can manage, monitor, and track their business activities in one place, and employees Learn more about Nuvolo

Category Champions | 2024

Globally recognized enterprise asset management.

A top EAM software, EAMbrace, enables organizations of all sizes across all industries can manage and track asset lifecycle costs, performance, and lifecycle costs. A feature of this platform is the electronic request for quotation (RFQ). The system automatically distributes requests to vendors and creates a comparison sheet based on responses to help users choose between options and generate POs. Read EAMbrace Asset Management Reviews

IFS Enterprise Asset Management (EAM) enables you to manage your enterprise workflows and tools in a single platform. Entire asset lifecycle administration, from investment to management and disposal, encourages you to deliver the correct people, tools, and supplies to an asset within a single platform. EAM lets you manage resources, schedule services for an enterprise, and optimize them. Read IFS ENTERPRISE ASSET MANAGEMENT Reviews

Emergents | 2024

Software by Blue Mountain Quality Resources, Inc

To provide life sciences companies with a fully integrated EAM, CMMS, and CCMS solution, Blue Mountain Regulatory Asset Manager (RAM) combines these functions into one solution. In addition to achieving GMP asset compliance, its integrated functionality maximizes productivity. Every team can function with Blue Mountain RAM to preserve assets and operations in a validated state using its thriving functionality. Learn more about Blue Mountain RAM

Software by Merino Consulting Services Limited

The Infor EAM suits businesses of all sizes and helps them track, organize, and streamline their maintenance tasks. It monitors KPIs and generates reports to assist in making data-driven decisions. Users can deploy its capability to operate on any OS on-premise and in the cloud. In addition to integrating with other business solutions, it comes in industry-specific editions. Learn more about Infor EAM

Software by AssetWorks

Assetworks is a cloud-based EAM maintenance software developed for businesses of all sizes. Users can access information about fixed assets in real-time by using Asset Management Software, which provides a centralized location to collect and store data about the company's fixed assets while capturing a wide range of information. Read AssetWorks Reviews

Contenders | 2024

Asset Tracking and Inventory Management software

In addition to managing assets and controlling inventory stocks, EZOfficeInventory monitors the entire asset lifecycle, allowing you to create Purchase Orders and handle vendors efficiently. They offer a simple depreciation management system, scan-based audits, and actionable reports to help you make well-informed business decisions and easily create custom labels. Read EZOfficeInventory Reviews

Software by Asset Panda

Asset Panda is a robust cloud-based EAM maintenance software that allows businesses to keep track of their appliances and create interdependencies between them. Asset Panda's enterprise asset management solutions allow unlimited users to revise documents from anywhere. Their precise reporting and intuitive dashboards assist you in measuring the entire lifecycle of your assets. Read Asset Panda Reviews

Unified Solution for network monitoring and endpoi

RMM Central is one of the best enterprise asset management software that allows managed service providers to learn, handle, protect, and monitor all their customers' devices from a single location. Its remote monitoring and administration solution can assist in discovering networks, detecting and handling faults, and providing a comprehensive overview of all the software stock, etc. Learn more about ManageEngine RMM Central

Software by ARCHIBUS

Your organization can manage all aspects of its facilities and infrastructure using Archibus, one of the best EAM software solutions. In addition to providing on-premise and cloud solutions, Archibus can improve operational efficiency and make reporting effective with dashboards and metrics. Archibus offers applications for managing space, maintenance, assets, energy, and capital projects. Learn more about ARCHIBUS

enterprise asset management software guide

EAM (Enterprise Asset Management) involves maximizing the value of an organization's physical assets throughout its entire lifecycle, resulting in improved efficiency, reduced costs, and enhanced quality. 

EAM is commonly utilized in industries that rely heavily on costly and intricate physical assets. This approach encompasses not only the maintenance of the assets but also comprehending their criticality, usage, and financial implications to mitigate losses. Let’s look at what enterprise asset management software is all about!

What Is Enterprise Asset Management (EAM) Software?

Enterprise Asset Management is a comprehensive suite of software, systems, and services that allow companies to manage their operational assets and equipment efficiently. The primary objective is to optimize asset quality and utilization throughout their entire lifecycle, ultimately leading to increased uptime and reduced operational costs.

Work management, asset maintenance, planning and scheduling, supply chain management, and environmental, health, and safety (EHS) programs are among the various components that fall under the umbrella of enterprise asset management. By integrating these components, companies can streamline their asset management processes and achieve greater operational efficiency.

In today’s era, when software development services and the Internet of Things (IoT) are booming, businesses are taking advantage of advanced analytics and artificial intelligence (AI) capabilities within EAM software solutions. 

Data collected from instrumented assets is analyzed using AI techniques, providing maintenance teams with valuable insights to make better decisions, enhance efficiency, perform preventive maintenance, and maximize investments in their physical assets. 

This allows companies to operate with greater insight, improving their maintenance practices and ultimately reducing operational costs over the long term.

Types of Enterprise Asset Management Software

Efficient management of physical assets is the primary goal of Enterprise Asset Management (EAM) software. The benefits and limitations of each type of EAM software differ based on the unique needs and preferences of the organization. Here are a few popular types of EAM software you can look into:

types of eam software

  1. Standalone EAM 

Standalone EAM software is a self-sufficient Enterprise Asset Management system that can carry out all the vital functions required to manage an organization's physical assets. It is an all-in-one software solution that encompasses capabilities such as asset tracking, work order management, maintenance scheduling, and reporting. 

Since it functions independently, it is usually not integrated with other enterprise software systems such as ERP or CRM. Standalone EAM software is a perfect choice for organizations with minimal IT resources or those that need only basic asset management features.

  1. Industry-specific EAM

EAM software that is specific to a particular industry is created to meet the distinctive demands and specifications of that industry. It offers customized features and capabilities that are uniquely suited to address the asset management needs of that industry. 

For instance, EAM software tailored to the manufacturing industry might include capabilities like equipment maintenance scheduling, inventory management, and production planning. 

Likewise, EAM software solutions designed for healthcare might incorporate features such as medical equipment maintenance scheduling, regulatory compliance monitoring, and patient data management. Such industry-specific EAM software empowers organizations to optimize asset management operations and boost operational efficiency.

  1. Delivery Model

Delivery model EAM software denotes the approach through which an organization acquires and utilizes EAM software. The three main delivery models are On-Premises, Software as a Service (SaaS), and Hybrid. 

On-Premises EAM software is installed and maintained on the organization's servers. SaaS EAM software is hosted and managed by a third-party provider, with access provided through the Internet. 

Hybrid EAM software is a combination of On-Premises and SaaS delivery models, with some components hosted on the organization's servers and some hosted by a third-party provider. The preferred delivery model is determined by considerations such as budget, IT resources, and security requirements.

How Does Enterprise Asset Management (EAM) Software Work?

Enterprise Asset Management (EAM) software is a powerful tool that enables organizations to manage their physical assets efficiently. It includes features such as asset tracking, work order management, maintenance scheduling, and reporting. 

Asset tracking involves monitoring the movement and usage of assets and inputting relevant data, while work order management manages tasks like assigning them to technicians and tracking progress. 

Maintenance scheduling schedules preventive maintenance tasks to ensure assets function at their best, and reporting generates insightful reports on asset usage and maintenance trends. 

Reporting generates insightful reports providing an overview of asset usage, maintenance trends, and other critical metrics.

Why Do You Need Enterprise Asset Management Software?

EAM software is a must for organizations that rely on physical assets to operate. Here are some reasons need enterprise asset management software:

  1. Efficient Asset Management

EAM software centralizes asset information, allowing organizations to manage assets efficiently and make informed decisions. It streamlines asset management by ensuring that all information is in a centralized location and increases operational efficiency by increasing the asset management lifecycle. Investing in asset management software can help companies schedule work orders, manage maintenance activities and allot resources efficiently.

  1. Increased Productivity

Asset-intensive industries benefit immensely by investing in EAM software as it helps to support infrastructure and increases end results. EAM software automates tasks, reducing downtime and improving productivity, leading to improved customer satisfaction and better financial outcomes. The main advantage of automating tasks is that managers can use the saved time to decide strategic objectives and increase bottom-line business performance.

  1. Higher Cost Savings

One of the main reasons that companies decide to opt for EAM software is to increase bottom-line profitabilityEAM software enables preventive maintenance and better management of spare parts, contributing to cost savings. It also keeps the production levels constant and increases the maintenance levels of assets to ensure higher profits. EAM solutions can also help companies lower the administrative costs associated with the asset management lifecycle.

  1. Improved Compliance

EAM software helps organizations comply with regulatory requirements related to asset management, avoiding fines and legal action. It ensures the organizational stakeholders are aware of various rules and regulations so that they can comply effectively. Investing in EAM software can help organizations ensure assets are maintained and decrease risk levels by complying with equipment warranty rules and local health regulations effectively.

  1. Better Decision-Making

EAM software's reporting features provide valuable insights into asset usage, maintenance trends, and critical metrics, helping organizations identify areas for improvement and optimize their operations. It provides all data related to company assets in a centralized location to provide real-time business intelligence to key stakeholders so that they can make better and informed decisions.

Benefits of Enterprise Asset Management (EAM) Software?

EAM software is a specialized application that assists organizations in managing their physical assets effectively. These assets may include machinery, equipment, buildings, and other critical structures required for the organization's operations.

EAM software empowers organizations to make informed decisions regarding their assets, streamline maintenance processes, and attain enhanced operational efficiency.

Let's closely examine the advantages of EAM software and its indispensable role as a tool for organizations that depend on physical assets.

benefits of eam software

  1. Centralize Asset Data

Centralized asset data means gathering all information concerning an organization's physical assets into one location that is easily accessible. By doing so, authorized users can access up-to-date and precise asset information at any time, enabling efficient asset management, streamlined maintenance processes, and informed decision-making.

Moreover, centralized asset data aids organizations in complying with regulations and lowering the risk of asset loss or theft.

  1. Monitor Assets

EAM software is crucial in monitoring assets effectively. It allows organizations to track asset information, assess asset conditions, and schedule maintenance tasks to minimize downtime and optimize asset utilization. 

By using EAM software, businesses can monitor asset performance to ensure peak efficiency and make informed decisions about repairing or replacing equipment, leading to cost savings and increased productivity.

  1. Reduce Costs

EAM software offers organizations various ways to reduce costs. By tracking asset information and condition, businesses can schedule maintenance tasks to avoid downtime, prevent breakdowns, and extend asset life. 

The software also enables better inventory management by providing real-time visibility into stock levels, preventing overstocking and understocking. Optimizing asset management and maintenance practices can lead to lower energy consumption and reduced repair and replacement costs. 

Furthermore, EAM software can optimize labor resources, resulting in reduced labor costs related to asset management and maintenance.

  1. Improve Safety

EAM software offers a safety advantage by tracking asset condition and performance, helping organizations identify potential safety hazards and minimize risks. Scheduled maintenance tasks can ensure that assets are functioning correctly and not posing safety threats. 

The software also tracks employee training and certification, ensuring workers are adequately trained in equipment operation and maintenance, reducing accidents and injuries.

  1. Increase Operational Efficiency

EAM software aids businesses in maximizing asset utilization and minimizing downtime by effectively scheduling maintenance and resources. It automates repetitive tasks and streamlines workflows, allowing employees to prioritize crucial activities. 

Real-time access to asset data empowers organizations to make well-informed decisions about asset management and maintenance, ultimately resulting in improved operational efficiency and productivity.

  1. Schedule and Plan Asset Maintenance

A robust EAM maintenance software system can assist businesses in scheduling and planning asset maintenance efficiently. The software provides tools to create maintenance schedules, assign tasks to technicians, and track work orders, ensuring regular maintenance is performed effectively. 

By offering real-time visibility into asset data, EAM software can also help identify potential issues early on, enabling proactive maintenance and reducing costly downtime.

  1. Improve Collaboration and Communication

Businesses can improve collaboration and communication across various teams and departments by leveraging EAM software. This software grants them access to the same asset information and maintenance schedules, avoiding conflicts and ensuring better coordination. 

Moreover, EAM software facilitates real-time sharing of notes, updates, and feedback, leading to quicker issue resolution. Additionally, the centralized platform offered by EAM software minimizes the need for lengthy email threads or phone calls.

  1. Maximize ROI

Strategic implementation of EAM software can generate a substantial increase in a business's return on investment. This potent tool allows EAM software companies to optimize asset utilization, minimize downtime, and decrease maintenance costs through efficient maintenance scheduling and resource allocation. By doing so, productivity is boosted, leading to a more favorable ROI. Additionally, EAM software's capacity to identify potential issues before they escalate enables proactive maintenance, resulting in even more cost savings and a higher ROI.

Features Of Enterprise Asset Management (EAM) Software

Enterprise Asset Management (EAM) software has the core purpose of aiding organizations in efficiently handling their physical assets from creation to retirement. EAM software encompasses asset tracking, maintenance management, work order management, and inventory management as essential features. 

Moreover, EAM software empowers organizations with data analytics, which allow them to make informed choices regarding their asset management strategies. Some key features of EAM software include:

features of enterprise asset management software

  1. Asset Definition

The precise definition of assets is a fundamental component of the asset tracking feature within EAM software. Accurate asset definition in the EAM system comprises assigning distinctive identification codes, such as asset codes and serial numbers, and documenting essential features like asset type, location, and maintenance history. 

This feature enables organizations to track an asset's movement, utilization, and condition throughout its lifecycle, leading to efficient maintenance and reduced downtime. EAM software's asset definition feature aids in maintaining an up-to-date and accurate asset inventory, resulting in optimal asset utilization and enhanced operational efficiency.

  1. Asset Tracking

The ability to track physical assets in real-time is a crucial component of EAM software. Asset tracking feature in EAM software employs technologies such as RFID or barcode to scan and monitor asset movement within the organization. 

Additionally, EAM software provides GPS tracking, enabling organizations to track assets' movement in remote locations. Asset tracking through EAM software ensures precise asset location, minimizes theft risk, and facilitates effective asset management, leading to optimal asset utilization and increased productivity for organizations.

  1. Asset Scheduling

EAM software's planning and scheduling feature is an indispensable tool that aids organizations in efficient planning, scheduling, and tracking maintenance activities for their physical assets. Users can use this feature to devise maintenance plans for assets, generate work orders, and schedule preventive maintenance activities to avoid equipment failures. 

The planning and scheduling feature of EAM software also streamlines resource allocation by ensuring that the requisite equipment, tools, and personnel are available to execute maintenance tasks. By utilizing this feature, organizations can decrease equipment downtime, enhance asset longevity, and boost operational efficiency.

  1. Supply Chain Management 

Movement of goods and services from suppliers to customers is essential, and the Supply Chain Management feature plays a vital role in this aspect. This feature seamlessly integrates with other modules, such as inventory management and purchasing, to streamline the entire supply chain process. 

As a result, organizations can optimize their operations, collaborate with suppliers better, and reduce costs while maintaining the desired level of quality.

  1. Contract and Warranty 

EAM software's Contract and Warranty management feature enables organizations to manage their contracts and warranties associated with physical assets efficiently. This feature allows users to create and store contract and warranty details, including terms and conditions, start and end dates, and other critical information. 

This feature also tracks important milestones, such as warranty expirations and contract renewals, to ensure that organizations comply with contractual obligations, reduce costs, and maximize asset performance.

  1. Depreciation

The depreciation management feature in EAM software is a crucial tool that assists organizations in monitoring the value of their assets over time. It aids in the accurate determination of asset value for financial reporting and planning purposes. 

Furthermore, this feature enables organizations to forecast the end-of-life of each asset, ensuring that maintenance or replacement occurs promptly.

  1. Inventory

Inventory management functionality is an important tool when it comes to EAM software. This feature helps in enabling organizations to monitor inventory levels for efficient usage carefully. 

Moreover, it also facilitates the overall maintenance of inventory records in an accurate manner, optimization of inventory levels, prevention of relevant stockouts, and reduction of excess or unnecessary inventory. 

Additionally, the real-time visibility of inventory levels empowers organizations to make timely decisions and improve overall operational efficiency.

  1. Maintenance

The maintenance feature in EAM software is critical in assuring the reliability and proper accessibility of assets. It allows organizations to manage preemptive maintenance, workflow orders, and system inspections effectively, resulting in enhanced asset performance and reduced maintenance costs.

  1. Analytics

The analytics feature of EAM software helps organizations to optimize their asset management strategies by analyzing faulty or critical metrics such as asset performance issues, regulatory/maintenance costs, and inventory levels. 

By providing these actionable and valuable insights, in addition to trend identification, predictive maintenance capabilities, and downtime reduction, EAM analytics can lead to improved operational efficiency and significant cost-effective strategies.

Who Uses Enterprise Asset Management Software?

EAM software is a dynamic and versatile solution that is used in a number of industries today.

This software is primarily used to manage assets such as equipment, vehicles, buildings, etc. Let’s take a look at who can benefit the most from implementing robust enterprise asset management solutions.

who uses enterprise asset management software

  1. Asset Managers 

EAM software is critical for asset managers to manage an organization's assets efficiently. This software enables them to track asset performance easily, schedule maintenance activities, and optimize asset life cycles while making data-driven decisions simultaneously.

  1. Maintenance Teams

Maintenance teams are the primary users of EAM software as it helps them manage and track maintenance-related activities in an efficient manner. The software enables them to schedule preventive maintenance tasks proactively, identify issues before they become critical to handle, and ensure that all assets are operating at their best optimal levels.

  1. Production Managers 

EAM software provides production managers with the necessary tools to effectively monitor equipment performance, schedule maintenance tasks, and optimize equipment utilization to maintain smooth production operations.

  1. Accountants 

EAM software is a valuable asset for accountants as it provides them with the necessary tools to manage asset-related financial data. With this software, they can track depreciation, maintenance costs, and replacement expenses, ensuring compliance with accounting standards while making informed decisions.

How To Choose The Right Enterprise Asset Management (EAM) Software?  

When choosing the right Enterprise Asset Management (EAM) software, it is important to consider factors such as the specific needs and requirements of your organization, the scalability of the software, the user interface and ease of use, as well as the vendor's track record and customer support. 

how to choose eam software

  1. Define Your Requirements

Defining your requirements is an essential step in choosing the right Enterprise Asset Management (EAM) software. This involves identifying the specific needs of your organization, such as the types of assets to be managed, the number of users, and the desired features and functionality. 

By clarifying your requirements, you can narrow down your options and select the EAM software that best meets your needs.

  1. Ensure Scalability 

Prioritizing scalability is essential when choosing Enterprise Asset Management (EAM) software to ensure it can handle your organization's growth. The software should be capable of managing increasing numbers of assets, users, and locations as your organization expands. 

Choosing a scalable EAM software can lead to significant time and cost savings in the long run by eliminating the need to switch to a new system as your organization evolves.

  1. Ease of Use

Considering the ease of use is crucial while selecting software as it affects user satisfaction and productivity. Software with a user-friendly interface, intuitive navigation, and clear instructions can minimize the learning curve and increase adoption rates. 

Opting for easy-to-use software can also result in fewer errors and support requests, leading to considerable time and cost savings.

  1. Customer Reviews

Researching the vendor is an essential step before investing in any software. Checking their reputation, experience, and customer reviews can help assess their reliability, support, and product quality. 

It is also recommended to evaluate their financial stability and future roadmap to ensure the software can adapt to changing business needs and technological advancements.

  1. Cost

Cost is a critical factor to consider while choosing software, as it can impact the overall budget and ROI. It is essential to evaluate the software's pricing model, including upfront and ongoing costs, licensing fees, and additional expenses such as training and customization. 

Conducting a thorough cost-benefit analysis can help determine whether the software aligns with the organization's financial goals and offers value for money.

Top 5 Enterprise Asset Management (EAM) Software With Pros & Cons

Managing assets efficiently is crucial for any organization, and Enterprise Asset Management (EAM) software can help achieve this goal. With various EAM software solutions available, selecting the best one that aligns with an organization's requirements can be difficult. 

Therefore, here's an overview of the five best enterprise asset management software along with their pros and cons, to assist in making an informed decision.

Name
Free Trial
Demo
Pricing

Maximo

14 Days

Yes

Custom Pricing

UpKeep

7 Days

Yes $45/month

Fracttal One

No

Yes

$229/month

Fiix

No

Yes

$40/month

IFS Cloud

30 Days

Yes

Custom Pricing
  1. Maximo

maximo dashboard

Maximo is one of the most popular enterprise asset management software systems. Originally created by Project management software & Development, Maximo was later named MRO software, with its first public version released in the year 1985.

It was purchased and branded as IBM Maximo Asset Management in 2005. With the latest version released in July 2021, the product was officially renamed to IBM Maximo Manage.. IBM Maximo is a popular EAM software due to its comprehensive asset management and maintenance capabilities.

Key Features

  • Robust asset management system
  • Multi-cloud based categorization
  • Streamlined and scalable licensing 
  • Single contract solution
  • Management suite with a well-integrated set of applications
  • Easy CMMS and EAM approach 

Pros

  • High scalability
  • Multiple customization options
  • User-friendly interface

Cons

  • Expensive in terms of pricing
  • Complex setup
  • Challenging maintenance issues

Pricing

  • The company provides customized pricing.
  1. UpKeep

upkeep dashboard

Upkeep is a user-friendly and affordable EAM software that offers an array of features. It is most commonly known as a scalable asset operations management system that gives maintenance teams the necessary tools and information they need to run their operations efficiently on a day-to-day basis.

Key Features

  • Work order management system
  • Analytics and reporting management
  • Inventory management system
  • Purchase and invoice management system

Pros

  • Better work order management system
  • Enhanced preventive maintenance scheduling
  • User-friendly interface

Cons

  • Limited customization options
  • Reporting features are not advanced 

Pricing

UpKeep offers a range of pricing plans, including

  • Starter: $45 per user per month
  • Professional: $75 per user per month
  • Custom enterprise plans are also available for larger organizations
  1. Fracttal One

fracttal dashboard

Fracttal One is a cloud-based EAM software that offers real-time asset tracking, maintenance, and reporting capabilities. It is considered one of the best asset management EAM software available in the market. 

With its comprehensive and extensive control of mobility and maintenance operations, the EAM software helps you to achieve maximum dependability and operational efficiency of your assets.

Key Features

  • Maintenance calendar
  • Work order and facility management system
  • Proper mileage tracking administration system
  • Remote maintenance procedures and speed monitoring

Pros

  • User-friendly interface
  • Scalable mobile app 
  • Excellent customer support

Cons

  • Occasional glitches in the software reported by some users
  • Pricing can be steep for larger organizations

Pricing

  • Starter: $229 per month for five users
  • Pro: $539 per month for ten users
  • Custom enterprise plans are also available for larger organizations
  1. Fiix

fiix dashboard

Fiix is developed through AI-powered computerized maintenance management software (CMMS). Fiix helps companies take care of their workflow management issues and manage their assets all in one place with just a few clicks.

 Fixx is a cloud-based EAM software with an extensive range of features ideal for all kinds of business organizations. The platform can be integrated with various other software for streamlined workflow management.

Key Features

  • Comprehensive asset management suite
  • Inventory management
  • Preventive maintenance
  • Prophylactic tracking and care management system

Pros:

  • User-friendly interface
  • Preventive maintenance scheduling
  • Extensive reporting features
  • Robust integration capabilities with other software and systems

Cons:

  • Some users have reported occasional bugs in the software
  • Pricing can be relatively high that may not be feasible for smaller organizations

Pricing

  • Basic:  $40 per user per month 
  • Professional: $60 per user per month
  • Custom enterprise plans are also available for larger organizations
  1. IFS Cloud 

ifs cloud dashboard

IFS Cloud is a simple-to-use, scalable, and efficient EAM software providing a comprehensive set of asset management and maintenance features. It helps in empowering teams with better solutions built for medium to large industries.

Key Features

  • Machine learning capabilities
  • Inventory management
  • Contract Management
  • License Management
  • Bill of Materials creation and distribution management system

Pros

  • Real-time analytics and reporting
  • Offers flexible customization and integration options
  • User-friendly interface

Cons

  • The software is complex in terms of setup and usage
  • Relatively high pricing may limit its feasibility for smaller organizations

Pricing

  • The company provides custom pricing.

Challenges With Enterprise Asset Management Software

Implementing and using Enterprise Asset Management (EAM) software can pose various challenges for organizations, despite its potential benefits. 

Challenges may include complex software setup and usage, extensive data input and management requirements, costly licensing and maintenance fees, and the need for staff training and adoption. 

Therefore, understanding these challenges and exploring ways to address them is crucial for the successful implementation and use of EAM software within an organization.

challenges in eam software

  1. Lack of Structured Information System

The lack of a structured information system is a common challenge in Enterprise Asset Management Solutions that can lead to data inconsistencies and inefficiencies. Without a centralized system for managing asset data, organizations may struggle with data entry errors, duplication of efforts, and difficulties in analyzing data for decision-making purposes. 

Developing and implementing a structured information system is crucial to overcome this challenge and achieve effective EAM solutions.

  1. Lack of Documentation

Having proper documentation is essential for organizations that utilize an enterprise asset management system; however, it can be challenging for software companies to provide sufficient documentation. 

The absence of documentation can lead to inconsistencies in data input and management, resulting in errors and inefficiencies. Furthermore, new users may find it difficult to learn and utilize the software effectively without adequate documentation.

  1. Lack of Strategic Execution

Implementing EAM software without proper strategic execution can be problematic. If an organization's goals and objectives are not clearly defined, aligning the software's functionality with the company's needs becomes challenging. This can lead to underutilization of the software and failure to achieve the expected benefits.

  1. Data Accuracy

Data accuracy is crucial in Enterprise Asset Management (EAM) software as it impacts the reliability and effectiveness of asset management processes. Inaccurate data can lead to incorrect decisions, maintenance inefficiencies, and increased costs. 

Ensuring data accuracy requires proper documentation, regular data verification, and standardized data entry procedures.

  1. User Adoption

User adoption can be a significant challenge for organizations implementing Enterprise Asset Management (EAM) software. Without proper training and communication, users may struggle to understand and utilize the software effectively, leading to underutilization and potential errors. 

Encouraging user adoption through effective training and support can help ensure the successful implementation and use of EAM software.

  1. Customization

Customization is an important aspect of Enterprise Asset Management (EAM) software as it allows organizations to tailor the software to their unique needs and workflows. However, excessive customization can lead to complications during software upgrades and maintenance. 

Striking a balance between customization and maintaining compatibility with future updates is key to ensuring the long-term success of the EAM software implementation.

Trends In Enterprise Asset Management (EAM) Software

The world of EAM software is dynamic, with new trends emerging to improve asset management continually. Recent trends include the use of cloud-based solutions, the integration of artificial intelligence and machine learning, and a growing emphasis on mobile and remote capabilities. 

These trends are revolutionizing asset management, providing opportunities for greater efficiency and cost savings.

trends in enterprise asset management software

  1. Cloud-based Solutions

Cloud-based solutions are gaining popularity in the realm of Enterprise Asset Management (EAM) software due to their many benefits over traditional on-premise solutions. These advantages include greater accessibility, scalability, and cost-effectiveness. 

Additionally, cloud-based EAM solutions provide real-time data analytics and insights, allowing organizations to make informed decisions regarding asset management and maintenance.

  1. Internet of Things (IoT) Integration

The integration of Internet of Things (IoT) technology is gaining momentum in Enterprise Asset Management (EAM) software. It enables organizations to effectively monitor and analyze asset performance and health by connecting assets to the internet and collecting real-time data. This trend promotes proactive maintenance, increasing asset uptime and reducing maintenance costs.

  1. Mobile Solutions 

Mobile solutions are a growing trend in the field of Enterprise Asset Management (EAM) software, providing users with the ability to access critical asset information from anywhere at any time. These solutions allow field technicians to receive real-time updates and respond to maintenance requests, improving the efficiency and speed of asset maintenance processes.

  1. Predictive Analytics 

Predictive analytics is a trend in Enterprise Asset Management (EAM) software that involves the use of data, algorithms, and machine learning to make predictions about asset performance and maintenance needs. 

By analyzing historical and real-time data, organizations can proactively identify potential issues and address them before they become costly problems, leading to increased asset uptime and reduced maintenance costs.

  1. Industry 4.0

The integration of advanced technologies like IoT, cloud computing, and AI into industrial processes is the focus of the fourth industrial revolution known as Industry 4.0. This integration in EAM software allows for real-time monitoring, predictive maintenance, and optimized asset utilization, leading to increased efficiency and cost savings.

  1. Artificial Intelligence

AI is a technology that empowers machines to execute tasks that generally require human intelligence. In EAM software, AI can scrutinize vast amounts of data to recognize patterns and forecast asset failures, enabling organizations to execute proactive maintenance strategies and minimize downtime.

  1. Asset Performance Management (APM)

APM, or Asset Performance Management, comprises a range of software tools and processes that help businesses monitor and optimize their assets' performance. APM software typically collects asset health, utilization, and maintenance history data and employs analytics and machine learning to provide insights that enhance asset performance, minimize downtime, and decrease maintenance expenses.

Conclusion

For organizations striving to stay ahead in the rapidly evolving business environment, EAM software is a crucial technology. It provides real-time insights, predictive analytics, and proactive maintenance strategies that optimize asset utilization and enhance operational excellence while also ensuring regulatory compliance and safety through precise record-keeping of maintenance activities. 

So look no further and develop EAM Software from a Software Development Company they can create comprehensive software that is tailored to your business needs and requirements. 

Moreover, the integration of advanced technologies like IoT, cloud computing, and AI in Industry 4.0 has made EAM software even more powerful and transformative, allowing organizations to achieve higher levels of efficiency and cost savings.

FAQs

To implement EAM software, organizations typically start by evaluating their asset management needs and selecting a suitable software vendor and solution. Next, the software is configured to match the organization's processes and workflows, and the system is tested and validated. Users are trained to use the software effectively before the system is launched and monitored for optimal performance and value.

Typically, a cross-functional team, including IT experts, asset managers, maintenance technicians, and other relevant stakeholders, is accountable for implementing Enterprise Asset Management (EAM) software. The project manager leads the team and supervises the implementation process to ensure that the software meets the organization's requirements.

The cost of Enterprise Asset Management (EAM) software varies depending on factors such as the size of the organization, the specific features and functionalities required, and the vendor offering the software. It is best to contact vendors for pricing information and to obtain a customized quote based on the organization's specific needs.

CMMS and EAM software differ mainly in their scope. CMMS software focuses on maintenance management and handles work orders, preventive maintenance schedules, and inventory management. EAM software, on the other hand, is a broader solution that manages the entire lifecycle of an organization's assets, from acquisition to disposal.

EAM software includes features such as asset tracking, real-time analytics, and financial management, which are not typically found in CMMS software.

An Enterprise Asset Management (EAM) system aims to manage an organization's assets from acquisition to disposal to enhance performance, prolong lifespan and reduce costs. With real-time data and analytics, EAM systems facilitate data-driven decision-making and improve asset management strategies.

Last Updated: January 02, 2024