When it comes to enterprise asset management (EAM) solutions, the choices are nearly endless. Identifying which platform will be the best fit for your organization will be a difficult task.
However, it’s important that you make the right decision. EAM is not just essential to asset management, it can affect the efficiency of your team and, more importantly, your entire business.
Here are seven factors that you must take into consideration when choosing a new EAM solution for your organization:
1. What are our asset management needs?
The process of choosing a new EAM solution should begin with a thorough look at your business needs. Something prompted you to seek out a new EAM platform—what was it?
Has your team been struggling to stay on top of analytics? Have your assets been experiencing too much downtime? Or, maybe the cost of maintenance has been steadily rising and you aren’t sure why.
Whatever your reasoning may be, you’ll need to clearly outline your asset management needs when selecting a new solution. You must define each of your requirements in order to determine which vendor will be the best fit.
2. Does it operate in the cloud or on-site?
Modern EAM solutions now afford you the choice between more traditional on-site deployments and cloud-based software. The solution you choose will depend on several key factors. If, for instance, your organization utilizes sensitive information or otherwise relies on an extensive asset network, then an on-site deployment would be an appropriate choice.
On the other hand, cloud-based EAM will be a better fit if you are looking to improve your organization’s resilience against disaster. Housing asset data in the cloud will ensure that you always have access to it, even if your site is experiencing an outage.
3. What features do we need?
Migrating to a new EAM solution gives you the wonderful opportunity to choose a platform that has all the functionalities needed both now and down the line. When vetting solutions, you should start with all the core functions of EAM: lifecycle management, maintenance, analytics, and more.
You should also look to incorporate additional features that will improve maintenance performance at your organization. For example, asset history gives your team more insight into your asset records, thus streamlining maintenance repair.
You should also look to see whether the EAM solution you’re considering is adaptable. In some cases, you can customize these platforms to fit the needs of your industry.
4. Is this solution easy to use?
Ease of use should be one of the primary driving factors of your EAM selection process. To this end, you should reach out to your end users for their input.
Where is your current system falling short and how will a new EAM system improve their work? How will a new platform simplify their daily workloads and make them more productive?
Fail to seek their feedback about new EAM software, and you may end up choosing a solution that doesn’t meet your team’s expectations. In the end, you will have wasted money deploying a platform that makes their work more difficult.
5. Is it optimized for mobile?
The modern business no longer relies on pen and paper for asset management. As your workforce becomes increasingly mobile, you will need an EAM solution that is easily accessible on mobile devices. This is especially crucial if increasing efficiency of asset maintenance is one of your primary goals of adoption.
Today, most EAM vendors offer mobile solutions that provide your team with access to the resources they need while on the go. By choosing a solution optimized for use on mobile devices, members of your maintenance staff won’t be tethered to their desktop computers when managing work orders and other asset management tasks. They will be able to bring your EAM system with them out in the field, where they will be able to stay on top of their work at all times.
6. How do we train our team in this new platform?
It is obviously vital to consider your end users when selecting a new EAM platform. It is even more important that you provide them with the training that they will need to thrive in your new system. As you choose an EAM solution, you should determine which resources are available to help you prepare your team for deployment.
Some vendors may host training at their own offices, where others offer e-learning. Online, you can also access a wealth of other training resources, including white papers and videos.
Be mindful that training shouldn’t be a one-time occurrence. As your EAM solution evolves, so too should your training. Make sure to host new training sessions every time you implement a new EAM product.
7. Can it adapt to a changing business?
You should be mindful of existing needs when selecting an EAM solution. You must also keep in mind that your business and its asset management needs will fluctuate over time. You shouldn’t choose a platform that will become obsolete in a few years.
As regulatory requirements change, your workforce grows, and your business expands, your EAM solution must be flexible enough to accommodate these changes and meet your ever-evolving asset management needs.