Enterprise asset management software is designed to improve operational productivity and processes, and track, manage, and extend the life of critical assets. With EAM software, corporate managers and executives can monitor the status of plants, buildings and facilities or develop a plan for inventory control. EAM software features include modules to define assets, track asset usage, maintain asset documents (i.e., warranties, lease agreements, and contracts), and flag assets for maintenance or other event triggers.
The strongest feature set of CMMS software and EAM software is the ability to integrate the two products into a single maintenance and management solution. Such integration permits more efficient interaction between various departments within an organization. For example, when an asset is reported as damaged, service requests can be entered into the system and an alert immediately sent to maintenance personnel. Mechanics or engineers can then inspect the asset, open work orders, and alert purchasing agents of any need for the procurement of parts, tools, or other materials to perform repairs. Managers can run regular reports to identify areas of repeated failure or those assets that cost the most to retain and repair. This permits the proper distribution of budgeted funds, or implementation of better maintenance and management processes.