In today’s economic climate, organizations around the world are facing tremendous pressure to effectively manage their enterprise assets, aiming to reduce downtime and maintenance costs while maximizing asset performance and improving operations. For corporate management to make everyday decisions, ensure regulatory compliance, plan for the future of the company, and take advantage of opportunities as they arise, managing the enterprise asset lifecycle is a must.
Enterprise Asset Management (EAM) is the key to meeting these challenges by providing a clear view and accurate control of assets. With EAM, organizations can adapt infrastructure and optimize processes, such as planning, budgeting and asset acquisition, movement tracking, maintenance and repair, calibration, surplus redeployment or asset disposal at the end of the asset lifecycle.
The Solution – SoftExpert EAM
SoftExpert EAM is an Asset Management software which optimizes asset performance and utilization at lower operating costs by eliminating unplanned downtime to maximize the lifetime value of all asset types – production, facilities, transportation and IT.
Enterprise Asset Management software enables organizations to develop comprehensive instrument calibration plans, in addition to preventive, predictive and corrective maintenance programs for equipment, improving the daily effectiveness of operations and technical staff.
It also better manages equipment and facilities to increase reliability and ensure regulatory compliance with standards, such as ISO 50001, ISO 55000 and ISO 17025, laws, regulations and industry-specific requirements, all while reducing energy usage and supporting sustainability initiatives.
Enterprise Asset Management – EAM
With SoftExpert EAM, technicians can access asset information, checklists, and best practices and even visualize repair steps and procedures, anytime and anywhere, on tablets and smartphones.
With work order management, the solution streamlines scheduling of tasks, assignment of available technicians and reservation of materials. The solution also manages asset history, including maintenance activities, specifications, purchase date, assurance and expected lifetime..
Reduce downtime and increase asset lifetime.
Optimize spare parts inventory and purchasing costs.
Provide technicians in the field with easy access to important information through mobile devices, eliminating paperwork.
Promote collaboration and sharing of information among asset owners and service providers.
Classify assets based on risk, criticality, and impact and define custom maintenance strategies at the lowest cost and risk.
Track, review and improve calibration and maintenance plans and budgets.
Reduce deviations, prevent incidents and improve decision-making through a holistic view of asset inventory.
Avoid wasting money on assets that are still under warranty.
Manage all asset-related documentation in a single place, such manuals, configuration settings, lease agreements, and warranty certificates as well as asset images.
Achieve a competitive advantage by boosting safety and uptime while maximizing asset performance.
Return on Investment (ROI)
Traditionally when enterprise professionals discussed the ROI of an investment, they were mostly thinking of the "financial" benefits. Today, organizations must also consider the "non-financial" benefits of an investment.
Financial Benefits include impacts on the organization's budget and finances, e.g., reduced costs or increased revenues.
Non-Financial Benefits are the so-called "intangible", "soft", or "unquantifiable" benefits of an investment. Unlike financial returns, there may be no widely-accepted metrics for organizations to apply. However, the SoftExpert solutions present undeniable potential for producing positive impacts on business performance and mission results. These include improved customer satisfaction, more precise information and a shorter cycle time.
SoftExpert Enterprise Asset Management (EAM) solution offers the following benefits:
- Reduce operational costs – Following the benefits outlined above, by automating some applications, it will allow your business to reduce the effort to implement and control each project, which allows room for reducing overall personnel costs.
- Increase visibility across your organization – Powerful dashboard reporting gives executives and project management leaders quick insight into what projects are taking place across the organization and their status, saving several hours per month in project follow-up.
- The investment in SoftExpert EAM will depend on the business unit size and implementation approach.
Return on Investment (%)
- (((Total Annual Savings x n years) – Initial Investment) / Initial Investment) x 100.
Payback Period (years)
- Initial Investment / Total Annual Savings.
Non Financial ROI:
- Easier to achieve strategic objectives due to improved project management maturity and corporate culture.
- Improved customer satisfaction due to more effective customer need management and quality control tools that achieve the established goals, guaranteeing an effective outcome.
- Improved customer satisfaction generates a better customer retention rate, reputation, market share and revenue.
- Improved regulatory compliance. SoftExpert allows the organization to integrate compliance management skills with current business processes.
- Less paper work and less paper needed to print out reports, due to the scheduled reports, customized views and user-friendly dashboard.
- Guarantee of effective team work and cooperation. Resources are coordinated, giving them a straightforward way to get together and resolve the task at hand, including the procedures to be used, the delegation of tasks among the team members and timeline. The project team will conduct its activities with a greater sense of professionalism and self-confidence, ensuring staff retention.
Managing the transition from ISO/TS 16949 to IATF 16949
Useful Key Performance Indicators for maintenance