In the technology driven business landscape of the day, it is important for companies to get the optimum performance out of their assets. This is where asset management software proves to be of great value for them. It can help all types of organisations leverage the best value from all their assets throughout the asset lifecycle.
Using an enterprise asset management software can help businesses seamlessly track, manage and evaluate the condition of all their important assets. This also allows predictive maintenance and ensures that companies are able to avoid loss of revenue due to avoidable downtime.
By using asset management software, the maintenance crews can manage all physical assets throughout their lifecycle through asset tracking. This results in generating superior ROI, ensuring safety of the workforce, improved cost of asset ownership and a better asset retirement/upgrade strategy.
It is time for all businesses to turn their asset-intensive businesses into lean and agile practices. A futuristic technology platform is needed to drive the business forward. This is where a world class solution would offer integration of robotics, IoT sensors, Big Data analytics and Machine Learning that can help modern businesses stay in charge even when the landscape is constantly changing.
The power of asset management software is a game-changer for all types of industries, especially asset heavy enterprises such as:
Power Generation – You can optimise your energy generation capabilities through enhanced maintenance and sustainability
Equipment Rental – You can consolidate, monitor and track all your assets through a single dashboard and streamline your equipment rental business
Manufacturing industries – It is possible to streamline all scheduled and other maintenance operations and prevent unplanned business downtime
Infrastructure – Streamline all the business processes through superior asset visibility and improve your asset optimisation seamlessly
Fleet Maintenance – Superior asset availability is ensured by the software, leading to increased cost-effectiveness
Today, world-class cloud asset management software enables implementation of strategies for management of assets ranging from turbines at a power plant to aircrafts in a defense force, large manufacturing plants to shopping malls and office complexes, from urban transportation fleet to windmills and from equipment such as cranes to establishments such as airports. There are various advantages offered by such solutions. For instance:
- Effective maintenance management boosted by predictive maintenance processes and inbuilt data analytics
- Mitigation of equipment risks by superior safety standards
- Ensuring superior regulatory adherence through compliance tracking and utilisation of asset tracking to keep all assets audit ready at all times
- Streamlining of all operations and greater asset performance to achieve better return-on-investment
By deploying an advanced Asset Management Software, the users get to control the entire lifecycle of business assets from end-to-end. It covers all the stages of an asset’s operations such as:
Planning – The software offers complete control over the planning process. You can strategically decide on the assets you need to acquire, plan how the acquisition process will take place, finalise budgets and get approvals from a single application
Acquisition – Once the plans are ready, the system helps in capital procurement and commissioning of new assets, management of supplier contracts and payments. It simplifies and streamlines the entire acquisition process
Deployment – Sometimes called cloud ERP software, the system would handle and streamline tasks ranging from asset installation and commissioning to maintaining the fixed asset register. You can smoothly induct and activate new equipment
Management – An ERP software would keep all maintenance programs and work management processes in place. There will be the highly imported failure analysis & RCA, that enables superior asset management
Retirement – Getting the best value from assets marked for decommissioning or retirement is of utmost importance. The software enables reconciliation of data starting from the asset retirement proposal to asset scaling or scrapping to optimise the retirement phase of assets.
There is a lot more that a world-class asset management software can do for large asset heavy businesses, and if you are looking to make the best of your business assets, it is time for you to deploy the same!
