5+ Best Enterprise Asset Management Software

When managing a complex project, issues like missed deadlines, poor performance, and the pressure to fix problems can be very stressful.

Does this sound familiar? If so, you might be struggling with poor asset management.

For many businesses, managing assets by hand leads to errors, old spreadsheets, missed maintenance, and inconsistent data. This disrupts everything.

The consequences are serious:

• Lost money due to inefficiencies.
• Expensive downtime that stops work.
• A team always dealing with problems instead of focusing on important tasks.

You already know that Enterprise Asset Management (EAM) Software is the solution. But you need the right EAM software to solve your specific problems: real-time tracking, automatic maintenance schedules, and complete insights into your asset lifecycle.

By choosing the best EAM software, you can:

• Make your asset management smoother.
• Increase efficiency and lower costs.
• Ensure your operations run without constant interruptions.

In this blog, we’ll look at the top Enterprise Asset Management Software available today. We will explain their features, benefits, and key points to help you choose the best tool for your business, so you can finally stop struggling with asset management.

What Are the Key Features of Enterprise Asset Management Software?

Here are the essential features to look for in an effective EAM software:

1. Asset Tracking: This feature allows you to monitor the location, status, and condition of your assets in real-time. It ensures you always know where your assets are and how they are performing.
2. Maintenance Management: Automate maintenance schedules to prevent equipment failures and extend the life of your assets. This reduces downtime and unplanned expenses.
3. Life Cycle Management: Manage the entire lifecycle of your assets from acquisition to disposal. This helps in making informed decisions about repairs, replacements, and retirements, optimizing asset usage and reducing costs.

Implementing EAM software can significantly enhance operational efficiency. Here’s how:

1. Streamlined Processes: EAM software integrates various asset management solutions, centralizing data and automating workflows. This reduces manual errors and saves time.
2. Enhanced Visibility: With comprehensive asset management systems, you gain insights into asset performance and health. This visibility allows for proactive maintenance and better resource allocation.
3. Improved Decision-Making: Access to accurate and real-time data supports informed decision-making, helping you optimize asset utilization and reduce operational costs.

By selecting EAM software with robust features like asset tracking, maintenance management, and life cycle management, you can ensure your operations are efficient, cost-effective, and well-managed.

1. Proptor

Proptor EAM is renowned for its real-time asset tracking, comprehensive maintenance management, and robust life cycle management. Its user-friendly interface and seamless integration capabilities enhance operational efficiency and asset utilization.

Features and Benefits of Proptor EAM:

1. Advanced Asset Tracking: Proptor EAM provides real-time tracking of assets, ensuring you always know their location and status. This feature helps prevent asset loss and improves asset utilization.
2. Comprehensive Maintenance Management: Proptor EAM automates maintenance schedules, reducing downtime and extending the lifespan of your assets. The system sends alerts and reminders for upcoming maintenance tasks, ensuring nothing is overlooked.
3. Life Cycle Management: Proptor EAM offers robust life cycle management, helping you manage assets from acquisition to disposal. This feature ensures you make informed decisions about repairs, replacements, and retirements, optimizing your asset investments.

1. User-Friendly Interface: The intuitive design of Proptor EAM makes it easy for users to navigate and utilize its features effectively, reducing the learning curve and increasing productivity.
2. Integration Capabilities: Proptor EAM seamlessly integrates with other enterprise systems, allowing for smooth data flow and enhanced operational efficiency. This integration ensures all your asset-related data is centralized and easily accessible.

Pricing:

• Essential Plan: $12 per user/month (annual billing). Ideal for individuals or small teams. Includes unlimited digital inspections, work orders, and 24x5 email support.
• Starter Plan: $29 per user/month (annual billing). Suitable for teams aiming to enhance asset reliability. Adds unlimited asset tracking, maintenance scheduling, downtime reporting, and 24x5 phone and email support.
• Professional Plan: $54 per user/month (annual billing). Designed for growing teams needing automation. Features include multiple sites, spares & inventory, meter readings, automated work-orders, surveys, and a dedicated account manager.

2. IBM Maximo

IBM Maximo is a leading enterprise asset management solution that offers comprehensive asset lifecycle management, tailored industry-specific solutions, and advanced analytics for informed decision-making. Its AI-powered work order intelligence and seamless integration capabilities enhance operational efficiency and support corporate sustainability goals.

Features and Benefits of IBM Maximo:

• Comprehensive Asset Lifecycle Management: Optimizes assets from procurement through to decommissioning.
• Industry-Specific Solutions: Tailored solutions for various industries to meet specific operational needs.
• Maintenance Management: Automates maintenance schedules to minimize downtime and extend asset life.
• Inventory and Spare Parts Management: Tracks and manages inventory levels and spare parts availability.
• Work Order Management: Streamlines work orders creation, assignment, and tracking for efficient operations.
• Mobile Access: Allows field technicians to access and update information on-the-go.
• Integration Capabilities: Integrates seamlessly with other enterprise systems for unified asset management.
• AI-Powered Work Order Intelligence: Enhances efficiency with AI-driven insights, improving work approval speed and data accuracy.
• Support for Corporate Sustainability Goals: Enables emissions tracking and supports sustainability reporting.
• Advanced Analytics: Provides insights into asset performance and health for informed decision-making.

Pricing:

• Essentials: Approx USD 3,150 per month
  • Entry-level for asset management, maintenance, health, and product quality inspections. 

• Standard: Pricing details available on request.
  • Extended offering for Enterprise Asset Management (EAM), Asset Performance Management (APM), and Reliability Centered Maintenance (RCM) combined into a single offering.

• Premium: Pricing details available on request
  • Broader operational flexibility with additional features tailored to specific client needs.

3. SAP EAM

SAP EAM seamlessly integrates with the SAP ecosystem, offering advanced predictive maintenance and IoT real-time data capabilities. It provides comprehensive asset lifecycle management with a user-friendly interface and robust mobile solutions, enhancing asset reliability and operational efficiency.

Features and Benefits of SAP EAM:

• Integration with SAP Ecosystem: SAP EAM seamlessly integrates with other SAP solutions, such as SAP ERP, SAP S/4HANA, and SAP Cloud Platform. This integration ensures a unified and streamlined approach to asset management, enabling organizations to leverage a single source of truth for all their operations.
• Advanced Predictive Maintenance: SAP EAM uses advanced analytics and machine learning to predict potential failures before they occur. This predictive maintenance capability helps in reducing downtime and optimizing maintenance schedules, ultimately saving costs and improving asset reliability.
• IoT and Real-Time Data: With SAP EAM, organizations can harness the power of the Internet of Things (IoT) to collect real-time data from assets. This real-time data monitoring enables proactive maintenance and immediate response to any anomalies, ensuring higher asset performance and longevity.
• Comprehensive Asset Lifecycle Management: SAP EAM provides end-to-end asset lifecycle management, from planning and procurement to operation and decommissioning. This holistic approach ensures that every phase of an asset's life cycle is managed efficiently and effectively.
• User-Friendly Interface: The intuitive and user-friendly interface of SAP EAM makes it easy for users to navigate and utilize its features, enhancing user adoption and productivity.
• Mobile Capabilities: SAP EAM offers robust mobile solutions that allow maintenance teams to access and update asset information on the go, increasing flexibility and responsiveness.

Pricing:

• Free trial not available
• For detailed pricing information, it is best to contact SAP directly or work with an authorized SAP reseller to get a customized quote that fits your specific requirements.

4. Oracle EAM

Oracle EAM delivers comprehensive asset management with advanced analytics and predictive maintenance, ensuring efficient asset utilization and minimized downtime. Its seamless integration with other Oracle applications and user-friendly interface enhances operational efficiency and scalability.

Features and Benefits of Oracle EAM:

• Comprehensive Asset Management: Oracle EAM provides a complete asset management platform that covers the entire lifecycle of assets, from acquisition to disposal. This ensures efficient utilization and maximization of asset value throughout their lifespan.
• Advanced Analytics and Reporting: Oracle EAM integrates advanced analytics and reporting tools that offer real-time insights into asset performance. This helps in making informed decisions, identifying potential issues early, and optimizing maintenance schedules.
• Predictive Maintenance: The platform uses predictive analytics to forecast potential asset failures and maintenance needs. This proactive approach minimizes unplanned downtime, reduces maintenance costs, and extends asset life.
• Seamless Integration: Oracle EAM seamlessly integrates with other Oracle applications and third-party systems. This integration provides a unified view of all operations, enhancing coordination and efficiency across the organization.
• User-Friendly Interface: The intuitive and easy-to-use interface of Oracle EAM simplifies asset management tasks, improving user adoption and productivity.
• Mobile Access: Oracle EAM offers robust mobile capabilities, allowing maintenance teams to access and update asset information from anywhere, improving flexibility and responsiveness.
• Regulatory Compliance: Oracle EAM helps organizations maintain compliance with regulatory standards by providing tools for tracking and documenting maintenance activities and ensuring adherence to safety protocols.
• Scalability: Oracle EAM is designed to scale with your business, accommodating the needs of both small enterprises and large organizations. This scalability ensures that the platform can grow alongside your asset management requirements.

Pricing:

• License Price: $4,595 for the initial license
• Software Update License and Support: $1,010 annually for software updates and support services
• Application User: Supports 5 application users

5. Infor EAM

Infor EAM, now HxGN EAM, provides full asset visibility and optimized maintenance with IoT data monitoring and predictive maintenance capabilities. The mobile platform enhances field worker productivity, while Databridge Pro ensures seamless data integration across systems.

Features and Benefits of Infor EAM:

1. Full Asset Visibility: HxGN EAM provides comprehensive visibility into asset performance, enabling better capital spending decisions and extending asset life cycles.
2. Data Integration with Databridge Pro: HxGN EAM Databridge Pro streamlines enterprise data integration, ensuring seamless and efficient data flow across systems.
3. Mobile Platform for Field Workers: EAM Digital Work enhances field worker productivity with a robust mobile platform that simplifies work execution and improves data capture.
4. Improved Asset Life cycles: Extends the lifespan of assets through better performance monitoring and maintenance planning, leading to improved quality and profitability. 
5. Enhanced Decision-Making: Provides greater visibility into assets, enabling informed and strategic capital spending decisions. 
6. Increased Productivity: The mobile platform maximizes field worker productivity by streamlining work execution and data capture, reducing downtime and operational disruptions. 
7. Optimized Maintenance: Empowers maintenance teams with accurate maintenance prescriptions, ensuring cost-effective and efficient maintenance practices.

Pricing:

• SaaS-Based Asset Management Solution: Pricing starts at $50 per user per month.
• Flexible Interfaces and Advanced Features: Includes IoT data monitoring and predictive maintenance capabilities.

6. IFS EAM

Features and Benefits of IFS EAM:

1. Comprehensive Asset Lifecycle Management: Manage assets from acquisition to decommissioning with full visibility and control over the entire lifecycle, including AI capabilities for enhanced performance insights.
2. System Reduction: Reduce the number of systems needed to track and manage assets, streamlining operations and improving efficiency.
3. Enhanced Asset Performance: Utilize AI capabilities to gain a complete view of asset positions, enabling better decision-making and optimized asset performance.
4. Improved Maintenance and Safety: Focus on maintaining high safety standards and improving maintenance processes, reducing downtime and operational disruptions.
5. Flexibility and Scalability: IFS EAM solutions are designed to be flexible and scalable, ensuring they can grow with your organization and adapt to evolving asset management needs.

Pricing:

• Professional Plan:
  • $29 per month per user (Cloud)
  • Ideal for businesses needing comprehensive asset management with core features.
• Premium Plan:

• $55 per month per user (Cloud)
• Includes advanced features for organizations with more complex asset management requirements.

• Enterprise Plan:
  • Custom Pricing (Cloud)
  • Tailored for large enterprises needing customized solutions and extensive support.

How Does Enterprise Asset Management Software Enhance Asset Lifecycles?

Enterprise Asset Management (EAM) software offers significant benefits across asset life cycles, asset tracking, and cost efficiency. 

Firstly, EAM enhances asset lifecycles through robust asset lifecycle management software, optimizing asset utilization from acquisition through to disposal. 

By automating maintenance schedules, EAM ensures timely repairs and preventive measures, thereby extending asset longevity and minimizing downtime. 

This approach maximizes return on investment (ROI) by delaying the need for costly replacements and reducing operational disruptions, crucial for industries reliant on asset performance.
 

Why Is Asset Tracking Important in EAM?

Asset tracking, facilitated by EAM's asset tracking software and management tools, is paramount for maintaining operational efficiency and compliance. 

It enables real-time monitoring of asset locations, statuses, and conditions, ensuring timely interventions and preventing loss or misuse. 

This capability is indispensable in industries managing high-value assets or those with regulatory requirements, enhancing accountability and asset security.
 

What Are the Cost Benefits of Using Enterprise Asset Management Software?

Despite initial investments in asset management software costs, the long-term savings are substantial. 

EAM reduces labor costs through streamlined workflows and automation, minimizes inventory and procurement expenses by optimizing spare parts management, and cuts down on unplanned maintenance costs through predictive maintenance capabilities.

Moreover, by centralizing asset data and providing actionable insights through analytics, EAM supports informed decision-making that further drives down operational costs and improves resource allocation efficiency.

What Are the Steps to Implementing EAM Solutions?





 

How to Ensure Successful Adoption of EAM Software?

Successful adoption of EAM software requires proactive measures to encourage usage and maximize benefits:

• Executive Support: Secure leadership buy-in and support to prioritize the EAM implementation and promote its importance across the organization.
• User Engagement: Involve end-users in the implementation process from the beginning. Address their concerns and demonstrate the software’s value in improving efficiency and reducing costs.
• Continuous Training: Offer ongoing training sessions and resources to empower users and keep them updated on new features and best practices.
• Feedback Mechanisms: Establish feedback channels to gather input from users regarding their experience with the software. Use this feedback to refine processes and address any usability issues.

What Are the Common Challenges in EAM Implementation?

Implementing EAM software can pose several challenges, including:

• Integration Complexity: Integrating EAM with existing enterprise systems and ensuring data interoperability can be complex and time-consuming.
• Resistance to Change: Some employees may resist adopting new technology or changing established workflows, requiring effective change management strategies.
• Data Quality Issues: Poor data quality or incomplete asset information can hinder the effectiveness of the EAM system, necessitating thorough data cleansing and validation processes.
• Cost and Resource Constraints: Budget limitations and resource constraints may impact the scope and timeline of EAM implementation, requiring careful planning and prioritization.

Enterprise Asset Management (EAM) software is evolving rapidly, powered by exciting new technologies. Here's what's on the horizon:

The future of Enterprise Asset Management (EAM) software is poised for significant advancements driven by emerging technologies and evolving industry needs. One key trend is the integration of advanced analytics and artificial intelligence (AI) to provide predictive maintenance and real-time asset monitoring. 

It is built for this future, offering features like:

• Advanced asset tracking: Always know where your equipment is and how it's performing.
• AI-powered maintenance: Get proactive with maintenance, fixing issues before they become costly problems.

Proptor EAM is easy to use and integrates seamlessly with your existing systems. This means you can embrace these cutting-edge technologies without any hassle.

By choosing Proptor EAM, organizations can stay ahead of the curve, leveraging the latest EAM trends to enhance asset performance and profitability.

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