In today’s economic climate, organizations around the world are facing tremendous pressure to manage their assets proactively across the organization to reduce costs, increase productivity, and respond to a rapidly changing regulatory and economic environment. For corporate management to make everyday decisions, plan for the future of the company, and to take advantage of opportunities as they arise, a well-organized, up-to-date inventory of the company’s property base is a necessary requirement.
But, to maintain an accurate and clear view of their assets organizations need the adequate asset infrastructure and streamline mission-critical processes such as planning and budgeting, acquisition, movement tracking, maintenance and repair, calibration, and surplus redeployment or disposal.
The Solution – SoftExpert EAM
SoftExpert EAM is an Asset Management software which optimizes asset utilization and performance at lower operating costs by eliminating unplanned downtime to maximize the lifetime value of all asset types – production, facilities, transportation and IT – across the enterprise.
The Enterprise Asset Management software enables organizations to develop comprehensive programs for preventive, predictive, routine and unplanned equipment maintenance and calibration, improving the daily effectiveness of operations and technical staff.
It also better manages equipment and facilities to increase reliability and ensure regulatory compliance with laws, regulations and industry-specific requirements, all while reducing energy usage and supporting sustainability initiatives.
Enterprise Asset Management – EAM
The solution manages asset by recording data about assets including maintenance activities, specifications, purchase date, expected lifetime and anything else that might be of help to management or maintenance workers. You can also manage preventative maintenance by scheduling preventive maintenance automatically based on time intervals and/or meter readings.
Manage both planned and unplanned maintenance activities, scheduling jobs tasks, assigning available resources, reserving materials through work orders. SoftExpert’s EAM solution also helps optimize and plan inventory to meet maintenance demand precisely, along with fast, repeatable, and accurate automated calibrations that generate calibration reports and certificates to address regulatory compliance.
Reduces operational costs.
Increases visibility across your organization.
Optimize asset management throughout the entire asset’s lifetime.
Keep all relevant and important asset information in one place.
Automates the use, calibration and maintenance processes.
Increases the asset’s useful life by maximizing equipment uptime and reducing damage and failure levels.
Controls all asset-related documentation such as owner's manuals, configuration settings, lease agreements, warranty certificates as well as asset images.
Reduces costs by managing preventative maintenance and monitoring equipment and trends.
Effectively and efficiently manages resource pool, usage and availability.
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