How To Know If Enterprise Asset Management Software Is For You

By Author: Craigie Jones
Total Articles: 66
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When it comes to enterprise asset management there are some things you need to keep in mind when you are trying to figure out whether or not it you would benefit from it. Think about it this way, EAM can make a difference in the success of your company in a way you never thought possible.

For example, to run a factory you need to know what the expenses are that you are going to have to deal with. When you are not sure what your monthly expenses are on running operations, maintenance, and everything else you are not going to make a profit. Even if you do have an understanding of all of that you need to know more details about the expenses if you have any hopes of keeping costs down. Raising prices will cost you customers. Firing employees will hurt production and therefore cost you customers. So the only way to truly cut costs is to make sure you know where you are wasting money and that's what enterprise asset management can help you to do.

An example of this would be a company that makes and ships soda. There are literally hundreds of machines that handle the creation of the soda, the bottling and the shipping. ...
... All these machines need to be maintained by people and those people need to be managed. The idea is that in order to be a successful company you would need to charge enough per soda to make a respectable profit. That means the machines are vital to the company's success because they contribute or handle all phases of the creation and shipping of the project. So having an understanding of everything from the basic maintenance of a machine to how many people need to be on the floor to make sure everything is running smoothly could be the difference between a struggling company or a profitable company.

In business we tend to think the most important thing is how we market ourselves, but we forget it starts with the quality of work we do in our own factories. That's where asset management software can give you a serious advantage. It can help you to analyze your company's production, figure out where you can spend less money and remain productive and where you need to spend more money. Believe it or not there are areas of your business where you can spend more money and it may actually save you money overall. An example of this would be the maintenance of your dozens or even hundreds of machines that are in your factory.

Asset management software can help you to determine if you will keep the machines running longer and better if you put more money into making sure they are routinely maintained. If it cost $500 and a days' worth of work to maintain a machine each month isn't that better than the $6,000 and weeks' worth of work it will take to repair it every six months? That's the kind of thing we do not consider when trying to figure out how to run a factory but this software can help you with that and give the ability to improve your business from the inside out.

Vivek Shah is the author of this article, and he specializes in enterprise asset management and asset management software.