The benefits of visibility, control and automation

Maximize asset value to grow your business.

There are petabytes of data generated by intelligent, interconnected and autonomous systems. When combined with AI tools that provide actionable insight, you have the potential to improve every function within an organization, i.e. operations, engineering, quality, reliability and maintenance. With integrated visibility, control and automation across business and technology assets, you can achieve objectives and maximize the value of all assets supporting the operation.

Visibility provides your organization:

• An enterprise-wide view of asset details and processes across the organization
• The ability to respond faster and make better decisions

With better control of assets and asset-related data, your company can:

• Extend asset life, reduce inventory costs and control
• Increase governance and reduce operational risk
• Improve health, safety, and security

Increased automation allows your business to:

• Build agility and flexibility into operations
• Improve asset use with proactive asset management and consolidation of systems
• Enhance operational capabilities by automating workflow and improving inventory data reliability

Growing revenue through increased asset availability and reliability

Increased asset availability and reliability help improve service delivery and grow revenue. As your organization tunes its supply chains to meet demand, asset and equipment uptime and availability must align to these schedules, especially as asset management has a direct impact on profitability.

Whether a good is a hard asset, such as an engine component, or a service delivered to a customer, top-line revenue can be affected if your company doesn’t deliver. Cost control and efficiencies created by better managing inventory and other support services can affect your bottom-line revenue, too. With EAM software, you can intervene in a more timely fashion and improve productivity, reduce materials use, and decrease the cost of doing business.

Another significant challenge is to effectively balance the lowest operational cost with the utilization loads of your asset portfolios. As a result, many organizations commonly overstock equipment and fleets to make sure that they always have the assets they need. Other companies stockpile spares to shorten repair times by eliminating delays. Each of these “insurance policies” comes with high premiums associated with constant upkeep, refurbishment and financial carrying costs that rarely cease.

These strategies can increase, rather than decrease your costs. Using EAM helps control or eliminate overstocking and stockpiling and can also help reduce your fixed capital investment, contributing positive bottom-line results.

Consider that businesses using EAM see:

Figures source: How Maintenance Businesses are Saving Time and Cost Using CMMS?, Tech Talk.

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