What is Enterprise Asset Management Software?
Enterprise asset management software continues to be essential to build a robust asset management strategy. Amidst the current business climate, investing in long term efforts rather than over-prioritising short-term goals is the smarter option. In addition, sub-optimal asset data and deteriorating information over time impact the ability to make informed decisions and extract the maximum value from your assets and equipment.
Enterprise Asset Management (EAM) looks for cost-effective ways to oversee equipment, assets and infrastructure and to boost production and performance. All the while reducing economic, environmental, health, and safety risks. EAM software includes functionality for managing, planning and scheduling maintenance, service jobs and inventory.
Asset management is also an area where thinking is moving forward quickly with global collaboration being driven by organisations like the Global Forum on Maintenance and Asset Management (GFMAM), the Asset Management Council (AMC) and the Institute of Asset Management (IAM). There’s also a convergence of thinking through PAS 55 and ISO 55000. You may be surprised to realise that PAS 55 has been in existence only since 2004.
EAM supports organisations to track the performance of their operational assets. Why? to optimise their use, prolong the working life of expensive equipment and reduce the cost of their maintenance. Mainly used by maintenance managers (once the asset has been deployed) this data is also accessed by the finance department to monitor asset costs, and regularly used for auditing assets and equipment, to keep location data fresh and your system up to date. In this blog, we talk about why enterprise asset management software is crucial in our competitive world.
Significant Growth In The Deployment Of EAM Software
EAM brings together software, business processes, and services in asset-intensive organisations, assisting big business and government services in maintaining as efficiently and cost-effectively as possible, operational assets throughout their lifecycles.
Over the last few years, there has been significant growth in the deployment of Enterprise Asset Management software across different industry verticals. With many governments struggling with recession, enterprises are looking to minimise unexpected losses/costs related to machinery, equipment, and infrastructure failures.
EAM software has become a major source for organisations to improve performance, reliability and cost-effectiveness. A key component for asset managers to achieve operational excellence and fall in line with ever-increasing regulations and financial constraints.
Enterprise Asset Management Software Supports
- Maintenance for complex assets such as plant or linear assets; fixed plant assets such as power generation, manufacturing and oil refineries and linear assets such as power lines, rail and pipelines.
- Fleet management assets such as service equipment, rail cars, locomotives, trucks, transformers, pumping stations and wind generation.
- Maintenance methods such as preventive and corrective to reduced maintenance and parts procurement costs
- Monitor assets through their lifecycle, from acquisition to disposition.
- Mobility and customisable workflows and reporting for inspections and maintenance operations
- Tracking of inventory items such as MRO spare parts across multiple locations
- Regulatory compliance
- Defines and monitors asset key performance indicators (KPIs)
- Increased asset life of aging infrastructure
- Ability to provide high quality, rapid, accurate, real-time data
- Rapid and accurate asset audits to verify asset data for auditors
Enterprise Asset Management and Maintenance
EAM software enables an organisation to bring equipment online and further manage these assets throughout their operational life and during replacement. Providing organisations with functions such as maintenance planning, maintenance scheduling and maintenance execution, which significantly improves productivity and efficiency. This provides asset owners, operators, and other stakeholders with real-time, real-world awareness of asset performance and maintenance issues.
Critical asset data such as tension, overheating and shuddering (captured via IoT devices), can forecast approaching problems and failures. Integrating this equipment data with an EAM system helps organisations identify patterns and concerns, and ensure maximum equipment uptime.IoT business guide
Maintenance costs account for almost as large a percentage of a facility’s operating budget as energy expenses. But usually, this money is spent inefficiently with a reactive “wait till it breaks” approach. A proactive, predictive maintenance approach coupled with analytics can reduce a building’s maintenance and energy costs by up to 20%.Predictive maintenance; a better approach
Maintenance management assists an organisation in predicting potential operational problems before they occur and empowers workforces with all the necessary information. EAM software solutions support organisations to operate efficiently by maintaining uninterrupted equipment functioning at the lowest cost.
- Cost estimation management
- Creating, scheduling and tracking progress for service jobs
- Personnel/resource management
- Visibility across multiple operational facilities
- Improves compliance and risk management
- Enriches customer relations/service
- Enhances business process agility and outcomes
- Mobility; a smartphone and/or tablet is all you need to connect with your data
- Identifying waste quickly
- Tracking location and quantity of spare parts, MRO and consumables
- Maximises asset utilisation and production yield by maintaining critical equipment in peak operating condition
- Helps asset managers pro-actively manage preventative maintenance by reducing unplanned and emergency repairs
Who is Hardcat and what is Hardcat Lebosi?
Hardcat the company has the distinct privilege of working with many government departments, from different countries, and has attained an intimate understanding of these types of environments, business challenges, and compliance obligations. The Hardcat Lebosi enterprise asset management software is a powerful solution to meet your needs now and into the future.
For over three decades, users have enjoyed the power and simplicity of the Hardcat solution suite. Hardcat is the preferred asset management solution for many provincial and federal government agencies and many corporate organisations across the globe.
As a commercial off-the-shelf software product, Hardcat Lebosi is an enterprise asset management and tracking software solution. Which is constantly evolving to meet the governance, compliance, and general asset management needs of all manner of private and public enterprises.
Hardcat’s expertise means that we are familiar with many of the vastly distributed teams’ operational processes, tasks, and demands. This expertise combined with Hardcat’s more contemporary Enterprise Asset Management Solution Hardcat Lebosi ensures that Hardcat is well-positioned to provide reliable advice to different industries we serve.Leverage our experience
Hardcat Lebosi meets Asset Management Demands and Delivers Value
Hardcat solutions embrace system interoperability; achieved with a suite of powerful tools and techniques. Out of the box, Hardcat provides users with powerful import and export capabilities which may be scheduled to meet data synchronisation requirements. Hardcat has experience integrating the largest and smallest packages, from ERPs to small, bespoke accounting systems and even hardware auto-discovery tools. For more complex, tighter integrations, Hardcat provides several seamless integration options.
All software components of the Hardcat solution suite are designed to provide superior asset management capabilities which can stand alone or complement wider-reaching ERP and finance systems.
Extend your asset management to manage and maintain vehicles, IT kit, plant, HVAC assets, in a single cohesive and complete solution. Hardcat Lebosi EAM software is implemented quicker than most enterprise solutions, provides extensive user-defined-field capability, and scalable to meet the needs of almost any of your organisation’s internal workflows.
- Assets and equipment location tracking and management
- Service job management
- Inventory tracking and management
- Failure analysis; frequencies and probabilities are analysed for root causes
- Statistical analysis; frequencies and probabilities are analysed for equipment availability
- Scan barcode on assets, parts, or employee badges with a mobile phone
- Scheduled tool use can be costed; charge an hourly tariff to a cost centre
- Provide the capability to establish cycle count control groups
- Display storage limits by warehouse, Lot number, or inventory allocation
Hardcat Lebosi shines in terms of functionalities that are supported out of the box. It can track reimbursable work as well as work for regular operations and preventive maintenance, all-inclusive of labour and material costs. Allows for inventory management and ties into and integrates with your accounting software. And finally, allows changes to meet the needs of various business processes going forward. Whether assigning items to personnel or deploying assets worldwide, Hardcat Lebosi is highly scalable and cost-effective.
Top Australian Software Development Company
Hardcat software solutions have been named in the “Top Australia Asset Management Companies” for taking a variety of approaches to innovating the asset management industry. Companies are selected for exceptional performance in these categories:
- Innovation of ideas
- Innovative route to market and product
- Exceptional growth strategy
- Societal impact
The longevity and stability of Hardcat products coupled with our flexibility and configurability. Plus, the fact that the majority of configuration changes are made within the application, without complicated programming or external tools, Hardcat Lebosi is one of the less burdensome to implement and oversee within the enterprise application tier. From a user standpoint, the interface is nicely organised and logically accessible.
Hardcat offers asset and equipment tracking and management solutions not only to asset-intensive industries, where assets provide the backbone of the organisation. But also to businesses and government departments that carry expensive or sensitive assets and evidence. Our immense experience in different industries over 30 years ensures the Hardcat Lebosi product roadmap and future vision is robust.
Read more: reasons to switch to Hardcat Lebosi
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