What is IFS EAM?
Industry Specialties: Aerospace, Energy, Defense, Utilities, Engineering, Resources, Infrastructure, Construction, Service, Manufacturing
Benefits and Insights
Key differentiators & advantages of IFS EAM
- Manage Assets Strategically: Users can manage assets from purchasing to end-of-life through the asset management module. From accurately predicting asset ROI to extending asset lifespan, EAM software helps you get the most return out of every asset.
- Optimize Operational Efficiency: Through work order management, asset monitoring and financial planning offered by this solution, users can improve their overall operational efficiency. EAM software helps users cut both direct and indirect costs along with reducing loss of revenue from unplanned downtime.
- Streamline Work Orders: The work order management module allows users to streamline the work order process from the time a new request opens to completion. Work orders can be assigned to individual technicians and locked with role-based security protocols, so only admin-level users can close them.
- Consolidate Vehicle Management: This software makes integrated configuration and fleet management easier and more efficient by letting users perform these tasks within the same interface as their maintenance tasks.
- Improve Regulatory Compliance: With detailed asset profiles and extensive maintenance records, you can protect yourself from liability and prepare for audit trails easily by using the EAM from IFS.
- Manage MRO Tasks: Users can perform a variety of maintain, repair, overhaul (MRO) tasks from the IFS software interface. This reduces the need for additional software solutions or to jump from system to system to perform simple functions.
- Glean Insights from Operational Intelligence: Through the business intelligence feature, users can analyze business data and perform a range of pre-built analysis models to make better decisions based on metrics and models.
Industry ExpertiseIFS supports more than 10,000 customers worldwide in industries that include aerospace, defense, energy, utilities, resources, engineering, infrastructure, construction, manufacturing and service.
- Plant Engineering: Captures early stage costs and stores asset data to accurately record vital information for audit trails, maintenance operations, etc.
- Document Management: This feature allows users to capture and manage changing asset specifications such as maintenance records, meter readings, etc. You can also manage all contractor interactions directly through the app, including cost analysis, external engineering, maintenance contractors and construction contracts.
- Maintenance Management: The solution manages maintenance organization and a range of maintenance tasks including preparation, fault reporting, execution and final reporting.
- Inventory Management: Allows users to track inventory metrics such as spare parts or small equipment. This module notes the number of materials in stock, displays detailed information on each item, such as model number, type, etc., and sends notifications if supplies need to be reordered.
- Fleet Management: Offers serialized parts control, preventive maintenance, operational planning and modification management to streamline the fleet management process.
- MRO: Users can perform a range of maintain, repair, overhaul (MRO) tasks through this system, including quotation handling, configuration management and maintenance execution. It also offers warranty handling, cost tracking, supply chain logistics and invoicing.
- Materials Management: Users can place purchase orders, source materials through the RFQ process, monitor and compare vendor progress against order terms, manage tracking and receipt of goods delivered, etc. through the materials management module.
- Business Intelligence: BI reports and models are accessible through the Microsoft Suite, IFS Lobby and many other popular reporting/analysis tools.
- Facilities Management: Users can manage facility planning and maintenance tasks such as automatically shutting off lights, monitoring meter usage and remotely setting HVAC controls.
LimitationsSome of the product limitations include:
- Doesn’t provide scope for customization
- Provides a limited set of inbuilt standard report formats
- Lengthy implementation time — it takes 9-12 months to deploy
- Limited functionality on field service and mobile workforce support
- Doesn’t support requirement management functionality
IFS EAM Suite Support
IFS offers a tiered support system based on the plan to which customers are subscribed. The available tiers are gold, platinum and custom.
Cost of Ownership for IFS EAM
|License/Subscription Cost||Both license and subscription-based pricing: per module, per user, per month|
Included in the subscription fee
Maintenance scheduling, work orders and other functionality necessary for reliability-centered maintenance are also included in the subscription fee
|Installation/Implementation Cost||Cost is over and above the subscription cost based on organizational requirements|
|Customization Cost||Cost varies depending on the applications and modules added, such as an EAM solution with human resources, purchasing, risk management, finance and document management|
|Data Migration Cost/Change Management/Upfront Switching Cost||Cost varies depending on the amount of data to be migrated, availability of migration tools, complexity of data and gaps between the current and new system|
|Recurring/Renewal Costs||Cost is included in the monthly or annual subscription fee, plus the customization cost, implementation cost and additional support services|