EAM Software Buyer's Guide
The Best EAM Software Solutions Track, Manage and Maintain Assets
By Bergen Adair, Market Research Analyst at SelectHub
Physical assets are like children — they cost a lot of time and money and only give back if you treat them well. EAM helps you treat your assets like the valuable commodities they are. Similar to computerized maintenance management software (CMMS), enterprise asset management software (EAM) computerizes maintenance and asset management tasks. It can be difficult to determine the best system for your organization, especially when CMMS and EAM are so similar and the market for them so varied. This guide will help you identify the best enterprise asset management software features and decide what you need to look for when shopping for EAM systems.
- EAM software manages an enterprise’s physical assets
- By streamlining workflows and reducing asset failure rates, EAM improves your business’ ROI
- EAM typically offers the same functionality as CMMS and facilities management with additional lifecycle management features
- To select the right EAM, you must gather your unique requirements and needs to take to a vendor, ask for a demo and shortlist products based on their features
Quick Navigation of this Guide
- Benefits of EAM Software
- EAM vs CMMS vs Facilities Management
- Implementation Goals
- Basic EAM Features
- Advanced EAM Features
- Compare EAM Software Vendors
- Enterprise Asset Management Software Comparison
Benefits of Enterprise Asset Management Software
Enterprise asset management software does just what it sounds like — manages your enterprise’s assets. Unlike ERP (which manages financial assets and resources), the assets EAM focuses on are physical ones. This can include equipment, property, vehicles or any other physical investment. Whether an asset needs to be tracked, have maintenance scheduled or be otherwise monitored, EAM can do it.
At its most basic, EAM is designed to improve your organization’s ROI. It does this through a combination of asset upkeep, eliminating waste and optimizing employee workflows. Some functions like maintenance reminders and enterprise asset tracking software features are automated, freeing up employee time to perform more complex tasks.
It also helps users optimize the value and uptime of your assets so you know you’re getting your money’s worth out of every piece of equipment. Asset failures or unexpected repairs can be devastating to a business — EAM offers preventive maintenance features that help technicians stay on top of equipment upkeep, reducing the likelihood of asset failures or complete breakdowns. This not only saves you money, it also keeps your employees safer.
EAM vs CMMS vs Facilities Management
You may be confused by the differences between CMMS and EAM — don’t worry, you have every right to be. Basically, CMMS focuses on the maintenance aspect: preventive maintenance, work order management, subcontractor contact management, etc. If your assets are, say, rental properties, a typical CMMS system may not be robust enough for you. EAM incorporates CMMS functions and also adds lifecycle management features.
In many circles, the two are used interchangeably, and those circles often include both computerized maintenance management and enterprise asset management vendors. The differences that once separated them have fallen away in recent years and you should look into both forms of software to ensure you keep your options open.
Facilities management is a subcategory of EAM and CMMS and offers targeted features for managing facilities. If you’re looking for something to specialize in facility management, you should check out this category of software.
EAM Implementation Goals
Centralized Asset Management
|Users can perform a variety of asset management tasks from a single centralized platform. The fewer times information must be transmitted through different platforms, the less chance there is of tasks slipping through the cracks. The single platform has the added benefit of improving efficiency — when users don’t have to close one system, open another, go back to the first system, etc. to perform their duties, they get those duties finished faster and easier.|
|Even organizations operating at a single site with less than 20 employees can have a hard time with effective communication and organizing team workflows. EAM software helps users effectively utilize every employee without overburdening. It also helps facilitate teamwork — for instance, if a driver notices maintenance needs to be performed on their vehicle, they can submit a work order request directly to the technician team. Admins ensure work orders have been fulfilled before marking them closed. This designated workflow helps members of separate teams communicate better and function as a cohesive whole.|
|This simple goal for EAM should still be at the top of your list, because it’s one of the main benefits of this kind of software. More efficient workflows optimize employee performance, saving you money on wages lost to inefficient communication processes. Preventive maintenance scheduling helps prevent costly equipment breakdowns. Asset monitoring prevents theft or loss and tracks asset performance to ensure it is being properly utilized. Enterprise asset management tools help users with long-term financial planning, helping you stay on budget and focus on overall goals.|
|EAM can also help improve the safety of your workplace. When equipment is regularly maintained, it is less likely to fail and injure workers. Equipment tracking helps prevent accidental collisions, falls and other mishaps caused by unexpected equipment movement. EAM software even offers modules for tracking your employees health and safety training to make sure everyone on-site is up to date on crucial information.|
Basic EAM Features
|Asset Lifecycle Management||Depending on your organization’s industry, managing your assets can be a sidenote or the bulk of your business. With EAM, asset management is easy, no matter the size or scope of your business. Tracking an asset’s condition and progression along its lifecycle allows users to plan for updates, budget replacements and prepare for any changes that may hinder that asset’s function.|
|Work Orders||Work order modules facilitate streamlined workflows for employees across a range of departments. Users input work order requests that can be assigned to specific technicians for completion. If everyone knows what needs to be done and who is supposed to be doing it, the work gets done quicker and more efficiently.|
|Inventory Management||Stock and inventory are assets too, and EAM manages them. From spare parts to maintenance equipement, EAM software helps users stay organized. Part of this module is a database for inventory metrics like stock levels, inventory transfers or substitutions.|
|Maintenance Management||Both CMMS and EAM offer robust maintenance management capabilities to ensure your assets are kept in peak condition. From preventive maintenance scheduling to automated alerts, technicians will always know what needs to be done on each asset and when. EAM maintenance software modules help users schedule maintenance months in advance to ensure it doesn’t fall through the cracks. With asset maintenance software, crucial asset data like previous maintenance, depreciation estimates and MTBF (mean time between failure) is stored directly within the asset’s profile for easy access.|
|Vehicle Maintenance||Fleet management can be a huge hassle — when was the last time you took your personal vehicle in for maintenance? If, like me, you’re not great at keeping up with routine maintenance on your vehicles at home or at work, then the vehicle maintenance module of EAM is a great investment for you. EAM software schedules maintenance and sends alerts when it needs to be performed, so you can’t put it off until the vehicle breaks down. It also offers GIS tracking capabilities to ensure your vehicles are always accounted for. EAM offers dispatch direct lines of communication with drivers to update them with schedule changes, potential hazards and other crucial information.|
Advanced EAM Features
|Maintain Repair Overhaul (MRO)||MRO features streamline operations related to the maintenance, repair and overhaul of assets. This can include maintenance supplies, procurement and storage, spare parts inventory, etc. MRO typically covers anything not covered by enterprise resource planning (ERP) tools or warehouse management systems (WMS).|
|Materials Management||The logistical function that manages all raw components of a supply chain falls under the purview of materials management. If your organization produces any kind of product from raw materials, those materials have to be closely monitored to ensure proper transportation, usage and implementation of those materials. Some key elements of materials management include cataloguing, identification, scheduling, standardization, inspection, quality control, storage, packing, inventory control, distribution and disposal.|
|Reporting/BI||Business intelligence (BI) tools are growing in popularity and usefulness. In EAM, this is apparent in the reporting capabilities many systems offer. Users can harness BI to gather data on daily operations like average asset downtime, MTBF, depreciation, etc. Reporting modules can then analyze this data and present it in intuitive visualizations that even beginners can easily interpret. Managers can use the trends, key performance indicators (KPIs) and patterns from this data to make data-driven decisions tailored to their specific operation.|
As a subcategory of the larger CMMS category, facilities management can be a standalone software or a module of EAM and CMMS systems. Facility management focuses on the maintenance and repair of physical properties like apartment complexes, grounds, plants, factories, etc. Its goal is to help you manage your spaces, buildings and occupants efficiently in concurrence with your asset management.
Vigilant monitoring of a property can catch issues like mold before it becomes a serious problem, saving you money and other resources in the long run. It also offers automatic meter reading functions that collect consumption data from water or energy metering devices. This can help you detect leaks or areas of overconsumption before it becomes a costly issue.
|Integrations||Integrations refer to the ability of enterprise asset management solutions to communicate with, import, export and connect with other information sources. Whether this is a resident portal, a website, an ERP software system or something else, you need to know what an EAM system can integrate with before you purchase it.|
Compare EAM Software Vendors
Unfortunately, there is no one-size-fits-all best EAM software. The top EAM software you ultimately identify for integration will depend on your organization’s unique needs. So to get started on your software selection journey, you should determine your specific needs from an EAM software. Feel free to use our interactive requirements template to make this step extra easy! By determining which features you’ll likely use — and, just as importantly, those you won’t — you’ll end up with a shortlist of features to take to a EAM software provider.
Questions to Ask Yourself
- What kind of IT infrastructure does my organization have to support this software?
- Do I want on-premise or cloud-based asset management deployment?
- What security features do I need for my data?
- Do you need mobile access for field agents and on-site employees?
- Do I need GIS/GPS/geolocation features for my fleet?
- What is my budget?
- How many users will I have?
- Do I need role-based access limitations for different levels of users?
Questions to Ask Vendors
- What kind of IT infrastructure does my organization need to support this software?
- Do I want on-premise or cloud-based asset management deployment?
- What security features do you offer to protect my data?
- Does this system offer mobile access?
- What kind of training materials do you offer? Does it come with an extra cost?
- What are past customers saying about this vendor? Look up third-party enterprise asset management software reviews to get an idea for how users feel about the system you are considering.
- Does this system offer role-based access?
Enterprise Asset Management Software Comparison and Selection
Now that you have a framework to utilize, you can start the comparison and selection process. Making an enterprise asset management software list can seem daunting, so the first step is to compare enterprise asset management companies across the industry to find out which meet most of your requirements. We have an easy-to-use EAM software comparison matrix to help you compare vendors feature-by-feature.
Once you’ve narrowed the top enterprise asset management software vendors down to those that meet most of your requirements, you can reach out to them and ask for free trials, demos or other exploratory material. Most offer a way for you to take their system for a test drive. If you can’t personally do so, at least find demo videos to see how the system operates in industries like your own to ensure it can handle what you need it to do.
Finally, it’s important to keep your budget in mind. Many vendors offer quotes only upon request, but many can be found in this comprehensive pricing guide. While it’s important to have a ballpark estimate for your budget, be prepared to be flexible — software is expensive, but it’s worth the money in ROI.
EAM software can change how you manage your assets and completely optimize your workflows. Because of the money it saves you in equipment failures and inefficiency, this software pays for itself easily. You deserve software that will make your life easier, and now you’re prepared to take the first step. We hope you feel confident in your capabilities to begin the software selection process — but if you need more guidance, you can contact SelectHub and we’ll walk you through it.
Top 10 EAM Software Leaders(of 35 products) GET THE IN-DEPTH REPORT
Axxerion is a cloud-based computerized maintenance management system (CMMS) designed to bring efficiency and cost savings to any size company in different sectors including real estate, corporate, healthcare, education, retail, residential, manufacturing, service providers and construction Users can track and manage service requests, work orders, preventive (scheduled) maintenance, surveys, inventory of parts and financials and budgeting. Axxerion CMMS includes complete scheduling, reminders and online access using mobile phones and tablets. Axxerion manages buildings, areas, assets and equipment with their complete history and budgeting for updates and upgrades.Axxerion is role-based and everything needed is laid out for the users is on their home pages.Axxerion provides expert implementation with unlimited support via phone, email and live chat). Every client works with a project manager who is familiar with their implementation and is ready to help at any time.Axxerion is highly configurable. The screens and workflows can be changed by clients without any programming. The system grows and evolves with a client the needs change.Supported Operating System(s) include: Windows, Mac OS, Linux, iOS, Android, all of the popular web browsers on any platform
Fiix Inc. creates easy-to-use, intelligent maintenance management software that empowers businesses to organize their maintenance departments and turn data into actionable insights. Its innovative, multi-tenant cloud-based CMMS mobilizes the maintenance workforce with an unparalleled mobile experience and seamlessly interfaces with enterprise software to connect your entire organization—revolutionizing how thousands of companies’ worldwide schedule, organize, and track maintenance.
Asset-intensive industries are facing a number of different challenges. Perhaps one of the biggest is the need to balance plant lifecycle cost with the total productivity of the plant. Finding that perfect balance is what successful asset management is all about—and IFS helps you do just that. IFS Applications facilitates full asset lifecycle management by offering highly usable tools for reliability-centered maintenance (RCM), preventive maintenance, workforce managmenet, capital project management, overall equipment efficiency and mobility. Supporting functionality includes document management, maintenance inventory, contract management, document management, engineering, and even finance. IFS Applications gives you all you need to maximize the productivity of your capital assets.
MAPCON is a computerized maintenance management system that offers standalone asset management, preventive maintenance, work order management, and more. The solution is available to be purchased outright, or it can be paid for on a monthly subscription basis. It can be used for just one site or multi-site enterprises.
Since 1986, eMaint’s CMMS solution has been reshaping how organizations manage maintenance management. eMaint delivers a robust, yet easy-to-use, feature-set that helps organizations save valuable time and money by better organizing, planning and managing maintenance activities.
Maintenance Connection is a Web-based software system for maintenance management. The system optimizes lifecycles of assets, tracks and manages maintenance costs, provides insight on possible equipment failures, streamlines labor efforts, and performs other crucial tasks for meeting the needs of maintenance and facility management professionals.
Infor EAM is the most configurable enterprise-grade asset management solution on the market. It gives you the power to improve capital asset management in ways that increase reliability, enhance predictive maintenance, ensure regulatory compliance, reduce energy usage, and support sustainability initiatives. Available in industry-specific editions, it also gives you unparalleled flexibility to zero in on the specialized, industry requirements that can turn your company's asset management into a competitive advantage.
To customers around the world, MPulse Means Maintenance Success. MPulse CMMS software provides reliable scheduling, tracking, and reporting tools for equipment and facilities maintenance organizations. MPulse CMMS software is available for purchase or as an annual subscription, and it can be hosted locally or in the cloud. Four scalable solutions are available, with each subsequent edition offering additional features that build on previous editions, making it easy to add features as organizational needs change.
Dude Solutions' Asset Essentials is a cloud-based maintenance management solution developed to support asset-centric operations. With our software, users can improve their processes where they live, work and play with streamlined workflows and advanced maintenance. Key functionality supports operations teams across departments with enhanced real-time visibility into work orders. Improve labor operations, manage inventory and extend the life of your assets all in an agile, user-friendly CMMS solution.
UpKeep allows users to snap a picture of a broken piece of equipment, create a work order, and send it off to their technician for repair - all from a mobile device. UpKeep is perfect for facility, property, restaurant, and manufacturing managers looking to improve communication by enabling real-time status updates for your team. It is a modern, intuitive, and customizable CMMS that is proven to expedite workflow processes.
Maxpanda Work Order CMMS Software offers a suite of tools that includes integrated asset management, inventory management and preventive maintenance. The system is web-based, allowing users access it from anywhere.
IBM® Maximo® Asset Management is a comprehensive solution for managing physical assets on a common platform in asset-intensive industries. It offers “built in” mobile access, out-of-the box mapping, crew management and analytical insight.
Manage Software licenses and understanding software license compliance with Asset Explorer. Getting information on the unauthorized software in the organization will help the asset managers to act proactively to curb illegal usage and problems associated with it.
Build a solid, standards-based foundation for managing your physical assets – whether your business relies on production equipment, power grids, machinery, vehicles, or facilities. Our enterprise asset management (EAM) software can help you increase operational efficiencies, improve asset usage, reduce costs, and better manage capital expenditures throughout the asset lifecycle.
Oracle Enterprise Asset Management (Oracle eAM) supports sophisticated, condition-based maintenance strategies for property, plants, and public infrastructure. Oracle eAM's single-instance design ensures best practices and quality compliance globally, eliminates excess and obsolete spare parts inventories, promotes environmental, health and safety policies, smooths coordination of production and maintenance schedules, and improves both the responsiveness and accuracy of contracted maintenance.
TabWare is the leading CMMS / EAM solution for organizations of all sizes who want full functionality without the expense, resources and time other solutions demand. Designed by maintenance professionals for maintenance professionals, TabWare is proven to maximize asset performance, resulting in reduced operating costs and higher profit margins.
Sage Fixed Assets—Planning is designed to do help you account for everything, and it allows you to manage as many projects as you need, regardless of the type or size. And when the assets are ready for use, they can be easily created in Sage Fixed Assets—Depreciation. To help you easily manage and report on your construction in progress projects, Sage Fixed Assets—Planning has multiple levels of detail tracking including over 45 user-defined fields, as well as numerous built-in reports such as project status and actual vs. budget variance. In addition, you can easily manage both capitalized and expensed assets and get key project information at a glance with “Project Snapshot.”
With intuitive Web interface and service desk portal, Web Help Desk software delivers simplicity and automation to streamline help desk ticketing and IT asset management. Benefit from built-in knowledge base, IT change control, SLA alerting, performance reporting, customer surveys, and more.
Avantis Enterprise Asset Management (EAM) software delivers a comprehensive solution for providing maintenance management, spares and inventory management and complete procurement capability for asset intensive industries. Avantis.PRO software ensures asset availability by seeing that necessary maintenance is performed and enables maximum output of expensive and complex assets.=
To be competitive your asset and maintenance management should be as streamlined as possible. Mintek’s Enterprise Asset Management (EAM) Computerized Maintenance Management Software (CMMS) solution integrates the latest and most reliable mobile technology with proven software designed to help your operations save money.
AssetWorks delivers industry-leading business solutions to help asset- and infrastructure-intensive organizations control capital and operating expenditures, reduce operational complexity, and manage regulatory and policy-driven risk. Leveraging a comprehensive portfolio of software and consulting solutions, we help organizations work more efficiently by improving access to shared asset data, promoting greater transparency across the organization, improving service delivery, maximizing asset availability and uptime and reducing total cost of ownership. Using the latest cloud and mobile computing technologies, our asset management solutions and domain expertise help organizations eliminate waste, redundancy, and inefficiency.
MAINTENANCE SOFTWARE DESIGNED BY MAINTENANCE PEOPLE FOR MAINTENANCE PEOPLEIn short: we get it. Full suite of modules including Work Management, Asset Management, Materials Management, Preventive Maintenance, Mobile Work Order, Mobile Inventory, ZingCheck and our award winning Maintenance Performance Index Module
GoCodes offers you a tool and equipment inventory management solution that is both affordable and easy to use. Unlike pricey old-fashioned systems GoCodes is a rugged, cloud-based system that works from day one with no software to load and no special equipment needed. This high-quality management solution allows you to use your smartphone to check tools in and out on the go and makes standard inventory tracking spreadsheets and systems obsolete. GoCodes helps you run your business more easily and powerfully.
Ivanti IT Asset Management (ITAM) Suite, encompasses three key IT asset management solutions. Two software asset management solutions—License Optimizer for Clients and License Optimizer for Servers—are built to discover and inventory IT assets, connect with vendors to monitor new purchases, and then convert your license data into an accurate effective license position. Ivanti's hardware asset management solution—Asset Manager—is designed to manage the life of your IT devices from purchase through disposal. When combined in a single ITAM suite, these three solutions deliver complete visibility to maximize the performance and value of your hardware and software.
Expertly manage the largest expenditures on your company’s balance sheet with efficiency and confidence. With Bloomberg Tax Fixed Assets, you gain accuracy and control to empower better decisions, optimize tax savings, shorten financial close times, and respond to change faster. Powered by the Advantage platform and equipped with flexible integration capabilities, Fixed Assets makes it easy to share and analyze tax data with accounting, compliance, and audit teams.
Our proven technologies enable a systematic process for the complete life cycle management of infrastructure assets including roads, bridges, facilities, fleets, telecom, traffic signals and signs, ITS, and more. From planning and budgeting to asset acquisition and maintenance to regulatory compliance to replacement or disposal, AgileAssets software helps you manage your infrastructure assets, more efficiently and effectively, throughout their life cycle.
Assetic Assets is an intelligent asset register pre-configured for over 100 asset classes. Built in-line with international standards and best-practice, it is the central hub of your asset data including attributes, service level information, valuations, risk management and reporting. Assetic Assets incorporates powerful asset hierarchy structures which enable cross-asset category searching, analytics and reporting.
The truth is most other filed service software providers have limited capabilities and minimum accounting features, requiring you to juggle between at least two different programs to manage your business. Not with Wintac. Wintac is a True all-in-one software solution which allows you to automate every area of your business with one easy to use program, including full accounting.
Schedule PM's any way you want. By time, meter or manually. Scheduled PM's will automatically generate Work Order's on YOUR schedule. Email notifications available as well! Track and monitize your part usage as you go. You can also view your upcoming PM's on a clickable Calendar. Fully Configurable ReportingCreate reports for WO's, PM's, Parts, Equipment, or Locations. All reports are configurable so you can select exactly what you want and how you would like it sorted.
Managing commercial facilities becomes more complex all the time. Corrigo simplifies it, delivering process automation, smoother administration, and powerful business intelligence. We make your job easier and your actions more effective. We’ve built a sophisticated platform that drives efficiency by improving service provider connections, creating end-to-end transparency in service interactions, and implementing smarter work order management. Your daily activities become data points that our advanced analytics transform into relevant, actionable business intelligence.
Scalable Software is a software cost optimization and IT asset management company. Scalable’s main software product, Asset Vision®, gathers highly granular usage data to identify software that is underutilized or entirely unused. This information can drive remove/recycle workflows, which quickly and measurably cut the costs of software licensing and maintenance, reduces software audit risks, and accelerate migration plans (especially from installed applications to web apps like Office to G Suite).
Manage your hardware and software assets across locations and departments with our cloud based IT asset management software. AssetSonar keeps you up-to-date with real-time insights relating to checkout, service, and location histories. Actionable reports make purchasing decisions and audits effortless. It allows you to track licenses and warranties, schedule services, scan asset labels, and integrate with Zendesk to streamline your IT service management. Try it for a free!
Pricing & Cost Guide for Enterprise Asset Management Systems
See the Price/User for the top Enterprise Asset Management Software… plus the most important considerations and questions to ask when shopping for Enterprise Asset Management SystemsGet Prices & Costs
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