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8 top enterprise asset management software products
Neglecting enterprise asset management can lead to higher equipment costs and delayed operations. Learn more about EAM software and which is best for your company.
Enterprise asset management is the process of tracking, evaluating and optimizing a company's equipment, otherwise known as an asset. Companies' asset environments are growing increasingly complex, and enterprise asset management software can help them improve management of their equipment.
EAM benefits companies in various ways, including the streamlining of supply chain management processes and maximizing the use of assets over their lifecycle. However, supply chain leaders must work with others at their company to ensure their organization is using the right EAM software.
Here's a look at some of the top enterprise asset management software products.
The author selected the following EAM software by drawing on research from sources such as Gartner, Capterra and G2. Products are listed in alphabetical order.
Accruent Maintenance Connection
While differences exist between computerized maintenance management systems and EAM software, some CMMS options now offer feature sets that can meet some companies' enterprise asset management needs. A CMMS may be a better choice for an organization than traditional EAM software in some scenarios.
Accruent Maintenance Connection is a CMMS that can help maintenance teams extend asset life. The software includes mobile capabilities, multisite asset management with real-time tracking and monitoring, preventative maintenance programs, labor scheduling and work order management systems, among other features.
Fiix
Fiix is another example of the line blurring between CMMS and EAM software. Fiix is a cloud-based CMMS that offers various asset management features. The software can help companies consolidate their asset management across the supply chain.
Fiix's asset management module lets users organize assets, inventory, purchases and tasks across each location and sends out regular real-time updates. Its dashboard helps users track assets.
Fiix's network of APIs enables companies to connect the software with a variety of other applications.
IBM Maximo Application Suite
IBM Maximo Application Suite is a combination of applications that forms one enterprise asset management product. One advantage of choosing IBM Maximo is its customizability. Customers can add applications as needed, such as Maximo Mobile, which enables field workers to access asset data through their phones, or Maximo Health Safety and Environment, which integrates various health, safety and environment processes with asset management.
Another advantage of using IBM Maximo is its long history, as the product is more than 30 years old.
IFS Ultimo
IFS Ultimo EAM software is an out-of-the-box platform. The unified data model enables users to receive real-time updates on assets. Other capabilities include a fleet management tool for overseeing maintenance and logistics as well as asset lifecycle management features and remote equipment tracking technology for mobile devices.
Customers can choose from three plans which are each designed for differently sized companies, which is an unusual arrangement for the marketplace. The lowest-tier plan includes basic asset management capabilities, while the highest-tier plan includes every IFS asset capability, which is likely only needed by large enterprises.
Limble
Limble's Asset Maintenance Management software can help users automate and streamline asset management processes. The software's dashboard can simplify users' searches for physical assets, and users can customize asset performance dashboards.
Limble is a good option for small and midsize businesses looking to get started with EAM software without going all-in on a system that may not offer needed flexibility.
MaintainX
MaintainX is IoT-enabled and specifically designed for industrial and frontline workers. It's available as a mobile app, which lets workers in the field track assets and create work orders, among other capabilities. Users can also track equipment in real time with meters and sensors.
MaintainX is a particularly good fit if a company's top goal is to optimize asset uptime and downtime. The software stores a history for every asset, including data such as last time of failure, time when maintenance was last conducted, and online and offline times, among other information.
SAP EAM
Similar to IBM, SAP offers a suite of EAM tools under the SAP EAM umbrella. These EAM software systems include products like SAP Asset Performance Management, which enables users to develop asset strategies based on failure rates; SAP S/4HANA Asset Management, which enables users to monitor asset operations through a cloud-based system; and SAP Service and Asset Manager, which enables users to manage work orders and use mobile-based asset management software online and offline.
SAP EAM is only one suite of tools in a much larger ecosystem of products, so implementing the software would likely be a more involved process than with other EAM products. However, companies that are already using SAP's supply chain software or cloud infrastructure could find SAP EAM to be a good fit.
UpKeep
UpKeep is asset operations management software that includes features focusing on asset management, preventive maintenance, facility management, property management and inventory management. UpKeep combines different aspects of asset management into one platform, which can help simplify asset lifecycle management and avoid the need to switch between different apps.
UpKeep includes features such as real-time asset performance monitoring and is a good fit for companies with employees working at many different locations.
Jacob Roundy is a freelance writer and editor, specializing in a variety of technology topics, including data centers and sustainability.
