Enterprise Asset Management (EAM) is the systematic practice of tracking and monitoring the physical assets of complex organizations across large industries from acquisition through to disposal. Assets across all departments, locations, facilities are included, and can vary from buildings, plants, machinery, heavy and light equipment, vehicles, ships, planes, handheld devices, computers, and more.
Asset-intensive industries, like construction, energy, manufacturing, utilities, and government, struggle with tracking and measuring asset performance, reducing maintenance costs, and maximizing asset uptime. To account for and monitor such large numbers of assets, the adoption of Enterprise Asset Management software has become the standard industry practice for these large organizations.
Enterprise Asset Management software can be conceptually imagined as the organization's central inventory, with features for planning, funding, construction, maintenance, optimization, replacement, and asset disposal. These functions overlap computerized maintenance management systems (CMMS), however, modern EAM software further adds greater sophistication by employing Industrial IOT, automation and machine learning to efficiently monitor and analyze the state of assets well beyond the capabilities of CMMS software.
EAM features are vast, and perform many functions found in other packages, notably, the features of CMMS, and Application Performance Management (APM) software. Furthermore, EAM software integrates with ERP systems, and if necessary, with facilities management apps, fleet management software, and aviation maintenance, repair, and operations software.