If your business relies heavily on physical assets like equipment or vehicles, you already know the chaos that comes with managing them manually. That is, unplanned downtime, supply shortages, and forgotten maintenance schedules.
Enterprise Asset Management software solves these problems by digitizing oversight, automating maintenance, and improving asset performance.
What is Enterprise Asset Management (EAM) Software?
Suppose your car’s check engine light could do more than just alert you to a potential problem. What if it could automatically schedule a repair, order the correct spare part, show you the repair system with just one click, and predict how long your engine would last? That’s EAM software in a nutshell. It lets you oversee it all from one dashboard.
It’s a system that helps companies track, maintain, and optimize physical assets throughout their lifecycle, from acquisition to disposal. It helps you:
- Track the performance of every asset, whether it’s a delivery truck, school generator, or conveyor belt.
- Predict maintenance before something breaks.
- Automate work orders so technicians know exactly what to fix and when.
- Ensure compliance with safety or industry regulations.
Who Needs Enterprise Asset Management Software?
EAM software isn’t just for factories. It can help all industries that depend on physical assets to operate. Here are the sectors that benefit from this software:
- Manufacturing: To manage the maintenance of production machines, equipment, and tools.
- Energy and Utilities: To manage infrastructure like power grids and oil and gas production assets.
- Healthcare: Used in hospitals and clinics to manage medical equipment such as surgical tools, MRI machines, etc.
- Government Agencies: To manage public infrastructure, vehicles, and public works.
- Facilities with Multi-Site Operations: To manage facilities operating across various locations, such as universities and hotel chains.
How is EAM different from CMMS?
EAM tracks assets from purchase to when they retire and plans for long-term performance. CMMS, on the other hand, is a fix-it tool. It tracks repairs and maintenance, schedules technician work, and focuses on keeping things running.
| Category | CMMS | EAM |
|---|---|---|
| Time | Focuses on immediate maintenance needs | Manages the total lifecycle |
| User scope | Used mainly by the maintenance department | Used by finance, operations, IT, and compliance departments |
| Data | Tracks what’s broken and when it broke | Predicts failures and optimizes replacement timing |
| Financial Visibility | Tracks labor hours and the cost of repair parts | Calculates the total cost of ownership |
| Integration | Operates as a standalone system | Integrates with IoT, accounting, and procurement systems |
In a nutshell, CMMS is a tool within the EAM toolbox. If you need just maintenance work, CMMS is your go-to tool. But if you need to manage assets long-term, EAM is a better option.
Benefits of Using EAM Software
Here are the benefits and value of using EAM software:
1. Resolves Issues Before They Happen
With the traditional approach, equipment is used until it breaks, manual inspections are relied on, and everything is tracked using spreadsheets. This often leads to costly downtime, missed warning signs, and a lack of real visibility.
EAM software changes that. It automates inspections to spot problems early and sends alerts to warn you before failure happens. This proactive approach helps save money and lets you plan maintenance instead of panic-reacting, keeping your operations running smoothly.
2. Centralize Asset Data
Instead of storing data in spreadsheets or people’s heads, EAM stores data in one secure platform. Every department can see real-time maintenance history, current location, warranty/lease terms, depreciation status, and more. This visibility helps your team spot errors and prevent costly oversights. It also leads to fewer errors, strong collaboration among team members, and quick decision-making.
3. Better Asset Performance
EAM software does more than just fix problems. It helps your equipment work better. This is because the system is proactive, rather than reactive. It automatically schedules equipment service before issues arise and spots inefficiencies. Over time, this keeps assets in better condition for longer, improves efficiency, and saves money by reducing the need for frequent repairs.
4. Ensures Regulatory Compliance
Industries like healthcare and government are heavily regulated. Let’s be honest, keeping up with all the safety and industry regulations is overwhelming. One misplaced service record and you end up paying hefty fines or worse.
EAM software automatically tracks certifications and inspections deadlines, generates audit-ready reports, flags gaps in your records, and stores every work order. This helps protect your company and team and gives you peace of mind.
5. Reduces Operational Costs
Unexpected failures can seriously damage your maintenance budget. EAM software makes sure you spend less by preventing emergency repairs, managing inventory to avoid overstocking or last-minute orders, and increasing asset lifespan.
Core Features You Should Look For
You get a lot of things in a modern EAM.. If you’re considering getting the software, here are the top features you should look for. We’ll break them down into two categories.
1. Core Functional Features
These are must-haves in any good EAM software:
- Work Order Management: You can track every work order and all maintenance tasks. You should be able to assign tasks, check progress, see who worked on what, see time spent, see parts used, and more.
- Asset Lifecycle Management: A good EAM software should be able to track every phase of assets, from purchase to when they are disposed of. The system should track everything: acquisition, usage, maintenance, and disposal. This can help you make decisions about future replacements and upgrades.
- Preventive Maintenance Scheduling: EAM software should be able to schedule maintenance based on actual usage data. It should track runtime hours, production cycles, or sensor data to know exactly when the next service is needed.
- Inventory Management: A good EAM should ensure you can track stock levels, receive emergency alerts when you’re close to running out, and automate reordering.
2. User-Centric Features
These features enhance usability and make life easier for your team
- Mobile Phone Accessibility: Technicians should access data, real-time updates, and work orders on their phones.
- User-Friendly Interface: Avoid clunky systems. Choose software that will be easy for your team to adopt.
- Integration Capabilities: It should easily sync with other existing tools, such as ERP and accounting tools.
Best Enterprise Asset Management Software
Selecting the best enterprise asset management software can have a direct impact on your operational efficiency. Here’s a breakdown of the best platforms, including key strengths and features:
1. eWorkOrders
eWorkOrders is our web-based CMMS solution that can effectively manage your company’s physical assets from acquisition to disposal. Here’s why it stands out:
- eWorkOrders is cloud-based and mobile-friendly, so you can access all your data anytime, anywhere, without needing an on-site server.
- Setup is fast and hassle-free. You don’t need to be an IT expert to get started.
- It was designed with simplicity in mind, making it easy to navigate.
- It automates repetitive maintenance tasks and projects and sends reminders for inspections so nothing falls through the cracks.
- You can generate custom reports to know exactly where to cut costs or prevent downtime.
- We offer advanced features without the complexity or high costs.
eWorkOrders grows with your needs, whether you manage one or multiple sites. Our EMS software is perfect for manufacturers, healthcare providers, and facilities that need serious tools and services without a complicated system. Book a free demo to get started.
2. IBM Maximo
Another great tool in the EAM space is IBM Maximo. This software helps large companies keep their equipment running smoothly. Here’s what makes it a great tool:
- IBM Maximo uses AI to predict when machines might fail.
- It manages repairs, costs, and schedules in one place.
- It connects easily to tools you already use.
- It’s built for complex operations with thousands of assets.
IBM Maximo may require dedicated resources to implement and maintain, but their extensive set of features make up for it.
3. Fiix EAM
Fiix is a great option for mid-sized companies looking to modernize maintenance operations. It’s cloud-based, easy to use, and includes predictive maintenance features and API integrations. Moreover, you get a clean interface and a mobile app that’s especially useful for field technicians.
4. UPKeep
UPKeep also uses a mobile-first approach, making it a great choice for field teams and remote maintenance operations. It’s suitable for companies that want a simple setup and an intuitive UI.
While it’s slightly limited when it comes to asset lifecycle management or advanced customization, it’s affordability makes it very appealing.
5. eMaint
eMaint helps businesses manage equipment and maintenance across multiple locations, all in one system. It works globally and allows you to scale as your requirements grow with time. It has smart reporting, so you can turn maintenance data into easy-to-understand insights.
This EAM software is ideal for larger teams that need detailed tracking and don’t mind a bit of setup time.
Closing Thoughts
EAM software is a strategic tool that controls and maintains physical assets across their lifecycle. It helps to cut costs, boost productivity, and future-proof operations. When evaluating options, prioritize scalability, ease of adoption, and ROI transparency. The three areas where our EAM software, eWorkOrders, excels and delivers proven results.
FAQs
What is the Best Asset Management Software?
The best asset management software depends on your needs. eWorkOrders is an excellent option because of its scalability, affordability, mobile friendliness, and ease of use.
What is the Best EAM Software?
There’s no one-size-fits-all answer. The best EAM software depends on your industry, budget, and operational priorities. eWorkOrders is one of the best software solutions because of its affordable pricing, easy setup, compliance tools, and strong customer support.
What is the Best Enterprise Project Management Software?
It depends on your team’s needs. The best one is the tool your team will actually use every day. Some top picks are Asana, Microsoft Project, and ClickUp.
What is Enterprise Asset Management Software?
EAM software helps businesses manage physical assets (machines, vehicles, buildings) efficiently across their entire lifespan. It tracks maintenance, prevents breakdowns, controls costs, and ensures compliance, all from one system.
