·  Legal News, Analysis, & Commentary


Enterprise Asset Management Software for Predictive Maintenance

— November 3, 2021

A leading enterprise asset management software should be capable of playing multiple roles as per the need of your business.

One of the key characteristics of modern technology-driven business operations is that an organization has to be proactive in its operations. As a global business, irrespective of which vertical you operate in, it is important to put all your assets to best use. It goes without saying that optimum outcome can be achieved only when your business assets and machinery are kept in perfect working condition. You can’t wait for a machine to break down; the need of the hour is predictive maintenance. 

Rapidly evolving technologies such as robotics, sensors integrated with the internet of things (IoT), Artificial Intelligence, Machine Learning and Big Data Analytics can play an enabler’s role. Today, you can deploy a world-class cloud-based Enterprise Asset Management Software to take care of all your operational assets throughout the lifecycle of planning, maintaining, and management. A cloud-based enterprise asset management software can also be accessed through a smartphone app to facilitate anytime, anywhere management of the organization’s assets. This is of utmost importance in the post-pandemic scenario, where you might frequently be required to use the enterprise asset management software from a remote location. 

A leading enterprise asset management software should be capable of playing multiple roles as per the need of your business. For instance, it could be a holistic enterprise asset management software for a conventional power plant, and a fleet management software for an airline or an urban transportation company.

A yellow taxi in New York. Image via MaxPixel. The court’s ruling will make Lyft compensate is ride-share contractors the same way as many traditional taxi operators. Public domain.

Whether you use the software as a fleet management system to manage thousands of buses as a transport authority or as an enterprise asset management software for a manufacturing facility, a leading software solution would offer the following benefits:

  • Ability to effectively manage all the maintenance activities through AI and analytics driven predictive maintenance processes
  • Mitigation of equipment risks through superior compliance and monitoring of the safety standards
  • Much superior, and timely adherence to all regulatory requirements, compliances through real-time tracking and utilization of assets to ensure they are audit-ready at all times
  • Streamlining of operations and greater asset utilization to increase the company’s return on investment. 

A market-leading fleet management software would enable you to take complete control of your organization’s assets at every stage of the asset lifecycle such as:

Planning: A modern fleet management software will give you complete control over the asset planning, budgeting, approval and acquisition process through a single dashboard.

Acquisition: An enterprise asset management software comes into play right from the time when you purchase a new machine or vehicle. The software makes the entire process of commissioning the assets, finalizing the supplier contract, and making payments for the asset acquisition, a breeze. 

Deployment: Acquiring an asset is followed by its optimum deployment and maintaining a fixed asset register for the new equipment or vehicle. A holistic enterprise asset management software will have an integrated deployment module to streamline the process. 

Management: Once the asset is in place, the enterprise asset management software would monitor its performance and analyse data smartly to ensure predictive maintenance for the asset throughout its lifecycle. 

Retirement: Even the most expensive and cutting-edge machines and vehicles have a limited operational life. Through predictive maintenance and analytics, a good fleet management software can help in planning an optimized fleet or asset retirement process.

Keeping in mind the above benefits, remember to conduct a thorough research online for finding the best enterprise asset management software to suit your business or fleet management needs. 

Join the conversation!