Innovation Accelerates Productivity Gains

EAM solutions may also deploy the latest technology innovations to further boost productivity gains. Mobile access to the central EAM system is essential when servicing/maintaining assets in the field, especially distant or hard-to-reach locations. Mobility can provide the opportunity for greater operational efficiency, allowing field workers to do more work in less time. Some platforms have a native or embedded mobile application, while others have an integrated third-party offering. Mobile applications that are native to the EAM vendor eliminate data synchronization issues common with third-party applications.

Vendors now offer a variety of innovations, either integrated or as add-ons:

  • Machine learning and artificial intelligence identify trends and make recommendations, critical in moving to predictive maintenance.
  • EAM software continues to automate low-level tasks and embed intelligence within the maintenance workflows.
  • Using the Internet of Things (IoT), smart assets can track their location, update their condition as they age, check compliance status, trigger service events, predict their own failures, self-heal, and optimize performance based on conditions.
  • Drone technology and remote-controlled vehicles can relay images of valuable physical assets in difficult-to-access areas, safely providing managers with new views and information.

However, organizations considering EAM solutions should make sure to avoid technology for technology’s sake. With any innovation, the goal is to improve performance on measures such as asset availability, first-time fix rates, workplace accidents, and customer service. Partnering with a vendor that understands your industry and unique challenges ensures it is invested in your organization’s outcomes from the start.

Cloud EAM software empowers technicians, improves maintenance outcomes, and helps deliver better customer experiences. Assets—which can be equipment, parts, vehicles, infrastructure, or facilities—are on the front line, serving customers and constituents, making products, and helping teams excel. As more organizations see asset management as a strategic competitive advantage, they are investing in digitally transforming maintenance operations. The COVID-19 pandemic has highlighted the business continuity advantages of cloud software to support resilient maintenance operations today and in the future.

IDC believes that companies will accelerate adoption of cloud EAM software as they adjust to new economic and operating conditions. To the extent that Infor can address the challenges discussed in this paper, the company has significant opportunity to help its customers succeed.

Benefits of Adopting Cloud EAM