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News  |  Aug 25, 2021  |  Christine Furey

What is an Enterprise Asset Management (EAM) System?

  • What is an EAM - slideshow

Asset Management is the process of maintaining the physical assets of an organization throughout each asset’s lifecycle. Enterprise Asset Management (EAM) Systems arose as an expansion of Computerized Maintenance Management Systems (CMMS), which were IT systems created to track maintenance activities and essentially functioned as work order systems. However, maintenance is only one aspect of a facility, system, or asset’s lifecycle, and only one component of an asset’s total cost of ownership and its reliability profile. As the assets and systems that organizations rely on became smarter and more complex, facility managers needed technologies which compiled and synthesized all of the disparate smart data they are collecting to optimize and innovate their operations.

EAM is a program, which is typically supported by a software system, that encompasses the entire lifecycle of physical assets from planning, design, build, operate, and decommissioning, as well as all contexts for that asset—including configuration, function, operational context, failure modes, maintenance programs, inspection programs and condition monitoring, safety and environmental profiles and impacts, and much more.

There are numerous EAM software manufacturers with an array of capabilities configured to manage assets for a variety of industries, such as manufacturing, life sciences, airports, transportation and utilities. EAM systems often exist in the cloud and organizations combine the systems, software, and services used to maintain the physical assets of an organization throughout each asset’s lifecycle. Subsequently, the many teams which make up the facility’s organizational structure access the system via their computers or through a mobile application on their smart device, such as a cell phone or tablet, and record and access asset data stored in the EAM.

The purpose of an EAM system is to allow an organization to plan, optimize, execute, and track any needed maintenance activities with the associated priorities, skills, materials, tools, and information. The goal is to optimize the quality and utilization of assets throughout their lifecycle, increase productive uptime and reduce operational costs.

Organizations can further maximize the efficiency of their EAM system by investing in a Mobile Work Order solution to help their disparate groups adopt the EAM system as a regular part of their day-to-day operations. Implementing a Mobile Work Order solution allows operators, office administrators, inspectors, engineers, and supervisors to access important asset information no matter where they are. The right Mobile Work Order solution seamlessly integrates with the organization’s EAM system to provide real-time and actionable information.

At EDI, we partner with organizations to select the best EAM systems and ensure their business processes meet best practices and align with the system selected. To request more information, click here.

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