EAM Software Buyer's Guide
The Best EAM Software Solutions Track, Manage and Maintain Assets
By Bergen Adair, Market Research Analyst at SelectHub
Physical assets are like children — they cost a lot of time and money and only give back if you treat them well. EAM helps you treat your assets like the valuable commodities they are. Similar to computerized maintenance management software (CMMS), enterprise asset management software (EAM) computerizes maintenance and asset management tasks. It can be difficult to determine the best system for your organization, especially when CMMS and EAM are so similar and the market for them so varied. This guide will help you identify the best enterprise asset management software features and decide what you need to look for when shopping for EAM systems.
- EAM software manages an enterprise’s physical assets
- By streamlining workflows and reducing asset failure rates, EAM improves your business’ ROI
- EAM typically offers the same functionality as CMMS and facilities management with additional lifecycle management features
- To select the right EAM, you must gather your unique requirements and needs to take to a vendor, ask for a demo and shortlist products based on their features
Quick Navigation of this Guide
See how the top 10 EAM Software leaders fare against the most common key requirements
Benefits of Enterprise Asset Management Software
Enterprise asset management software does just what it sounds like — manages your enterprise’s assets. Unlike ERP (which manages financial assets and resources), the assets EAM focuses on are physical ones. This can include equipment, property, vehicles or any other physical investment. Whether an asset needs to be tracked, have maintenance scheduled or be otherwise monitored, EAM can do it.
At its most basic, EAM is designed to improve your organization’s ROI. It does this through a combination of asset upkeep, eliminating waste and optimizing employee workflows. Some functions like maintenance reminders and enterprise asset tracking software features are automated, freeing up employee time to perform more complex tasks.
It also helps users optimize the value and uptime of your assets so you know you’re getting your money’s worth out of every piece of equipment. Asset failures or unexpected repairs can be devastating to a business — EAM offers preventive maintenance features that help technicians stay on top of equipment upkeep, reducing the likelihood of asset failures or complete breakdowns. This not only saves you money, it also keeps your employees safer.
EAM vs CMMS vs Facilities Management
You may be confused by the differences between CMMS and EAM — don’t worry, you have every right to be. Basically, CMMS focuses on the maintenance aspect: preventive maintenance, work order management, subcontractor contact management, etc. If your assets are, say, rental properties, a typical CMMS system may not be robust enough for you. EAM incorporates CMMS functions and also adds lifecycle management features.
In many circles, the two are used interchangeably, and those circles often include both computerized maintenance management and enterprise asset management vendors. The differences that once separated them have fallen away in recent years and you should look into both forms of software to ensure you keep your options open.
Facilities management is a subcategory of EAM and CMMS and offers targeted features for managing facilities. If you’re looking for something to specialize in facility management, you should check out this category of software.
Expert recommendations and analysis on the top EAM Software
EAM Implementation Goals
Centralized Asset Management
|Users can perform a variety of asset management tasks from a single centralized platform. The fewer times information must be transmitted through different platforms, the less chance there is of tasks slipping through the cracks. The single platform has the added benefit of improving efficiency — when users don’t have to close one system, open another, go back to the first system, etc. to perform their duties, they get those duties finished faster and easier.|
|Even organizations operating at a single site with less than 20 employees can have a hard time with effective communication and organizing team workflows. EAM software helps users effectively utilize every employee without overburdening. It also helps facilitate teamwork — for instance, if a driver notices maintenance needs to be performed on their vehicle, they can submit a work order request directly to the technician team. Admins ensure work orders have been fulfilled before marking them closed. This designated workflow helps members of separate teams communicate better and function as a cohesive whole.|
|This simple goal for EAM should still be at the top of your list, because it’s one of the main benefits of this kind of software. More efficient workflows optimize employee performance, saving you money on wages lost to inefficient communication processes. Preventive maintenance scheduling helps prevent costly equipment breakdowns. Asset monitoring prevents theft or loss and tracks asset performance to ensure it is being properly utilized. Enterprise asset management tools help users with long-term financial planning, helping you stay on budget and focus on overall goals.|
|EAM can also help improve the safety of your workplace. When equipment is regularly maintained, it is less likely to fail and injure workers. Equipment tracking helps prevent accidental collisions, falls and other mishaps caused by unexpected equipment movement. EAM software even offers modules for tracking your employees health and safety training to make sure everyone on-site is up to date on crucial information.|
Expert recommendations and analysis on the top EAM Software
Basic EAM Features
|Asset Lifecycle Management||Depending on your organization’s industry, managing your assets can be a sidenote or the bulk of your business. With EAM, asset management is easy, no matter the size or scope of your business. Tracking an asset’s condition and progression along its lifecycle allows users to plan for updates, budget replacements and prepare for any changes that may hinder that asset’s function.|
|Work Orders||Work order modules facilitate streamlined workflows for employees across a range of departments. Users input work order requests that can be assigned to specific technicians for completion. If everyone knows what needs to be done and who is supposed to be doing it, the work gets done quicker and more efficiently.|
|Inventory Management||Stock and inventory are assets too, and EAM manages them. From spare parts to maintenance equipement, EAM software helps users stay organized. Part of this module is a database for inventory metrics like stock levels, inventory transfers or substitutions.|
|Maintenance Management||Both CMMS and EAM offer robust maintenance management capabilities to ensure your assets are kept in peak condition. From preventive maintenance scheduling to automated alerts, technicians will always know what needs to be done on each asset and when. EAM maintenance software modules help users schedule maintenance months in advance to ensure it doesn’t fall through the cracks. With asset maintenance software, crucial asset data like previous maintenance, depreciation estimates and MTBF (mean time between failure) is stored directly within the asset’s profile for easy access.|
|Vehicle Maintenance||Fleet management can be a huge hassle — when was the last time you took your personal vehicle in for maintenance? If, like me, you’re not great at keeping up with routine maintenance on your vehicles at home or at work, then the vehicle maintenance module of EAM is a great investment for you. EAM software schedules maintenance and sends alerts when it needs to be performed, so you can’t put it off until the vehicle breaks down. It also offers GIS tracking capabilities to ensure your vehicles are always accounted for. EAM offers dispatch direct lines of communication with drivers to update them with schedule changes, potential hazards and other crucial information.|
Expert recommendations and analysis on the top EAM Software
Advanced EAM Features
|Maintain Repair Overhaul (MRO)||MRO features streamline operations related to the maintenance, repair and overhaul of assets. This can include maintenance supplies, procurement and storage, spare parts inventory, etc. MRO typically covers anything not covered by enterprise resource planning (ERP) tools or warehouse management systems (WMS).|
|Materials Management||The logistical function that manages all raw components of a supply chain falls under the purview of materials management. If your organization produces any kind of product from raw materials, those materials have to be closely monitored to ensure proper transportation, usage and implementation of those materials. Some key elements of materials management include cataloguing, identification, scheduling, standardization, inspection, quality control, storage, packing, inventory control, distribution and disposal.|
|Reporting/BI||Business intelligence (BI) tools are growing in popularity and usefulness. In EAM, this is apparent in the reporting capabilities many systems offer. Users can harness BI to gather data on daily operations like average asset downtime, MTBF, depreciation, etc. Reporting modules can then analyze this data and present it in intuitive visualizations that even beginners can easily interpret. Managers can use the trends, key performance indicators (KPIs) and patterns from this data to make data-driven decisions tailored to their specific operation.|
As a subcategory of the larger CMMS category, facilities management can be a standalone software or a module of EAM and CMMS systems. Facility management focuses on the maintenance and repair of physical properties like apartment complexes, grounds, plants, factories, etc. Its goal is to help you manage your spaces, buildings and occupants efficiently in concurrence with your asset management.
Vigilant monitoring of a property can catch issues like mold before it becomes a serious problem, saving you money and other resources in the long run. It also offers automatic meter reading functions that collect consumption data from water or energy metering devices. This can help you detect leaks or areas of overconsumption before it becomes a costly issue.
|Integrations||Integrations refer to the ability of enterprise asset management solutions to communicate with, import, export and connect with other information sources. Whether this is a resident portal, a website, an ERP software system or something else, you need to know what an EAM system can integrate with before you purchase it.|
Expert recommendations and analysis on the top EAM Software
Compare EAM Software Vendors
Unfortunately, there is no one-size-fits-all best EAM software. The top EAM software you ultimately identify for integration will depend on your organization’s unique needs. So to get started on your software selection journey, you should determine your specific needs from an EAM software. Feel free to use our interactive requirements template to make this step extra easy! By determining which features you’ll likely use — and, just as importantly, those you won’t — you’ll end up with a shortlist of features to take to a EAM software provider.
Questions to Ask Yourself
- What kind of IT infrastructure does my organization have to support this software?
- Do I want on-premise or cloud-based asset management deployment?
- What security features do I need for my data?
- Do you need mobile access for field agents and on-site employees?
- Do I need GIS/GPS/geolocation features for my fleet?
- What is my budget?
- How many users will I have?
- Do I need role-based access limitations for different levels of users?
Questions to Ask Vendors
- What kind of IT infrastructure does my organization need to support this software?
- Do I want on-premise or cloud-based asset management deployment?
- What security features do you offer to protect my data?
- Does this system offer mobile access?
- What kind of training materials do you offer? Does it come with an extra cost?
- What are past customers saying about this vendor? Look up third-party enterprise asset management software reviews to get an idea for how users feel about the system you are considering.
- Does this system offer role-based access?
Expert recommendations and analysis on the top EAM Software
Enterprise Asset Management Software Comparison and Selection
Now that you have a framework to utilize, you can start the comparison and selection process. Making an enterprise asset management software list can seem daunting, so the first step is to compare enterprise asset management companies across the industry to find out which meet most of your requirements. We have an easy-to-use EAM software comparison matrix to help you compare vendors feature-by-feature.
Once you’ve narrowed the top enterprise asset management software vendors down to those that meet most of your requirements, you can reach out to them and ask for free trials, demos or other exploratory material. Most offer a way for you to take their system for a test drive. If you can’t personally do so, at least find demo videos to see how the system operates in industries like your own to ensure it can handle what you need it to do.
Finally, it’s important to keep your budget in mind. Many vendors offer quotes only upon request, but many can be found in this comprehensive pricing guide. While it’s important to have a ballpark estimate for your budget, be prepared to be flexible — software is expensive, but it’s worth the money in ROI.
EAM software can change how you manage your assets and completely optimize your workflows. Because of the money it saves you in equipment failures and inefficiency, this software pays for itself easily. You deserve software that will make your life easier, and now you’re prepared to take the first step. We hope you feel confident in your capabilities to begin the software selection process — but if you need more guidance, you can contact SelectHub and we’ll walk you through it.
Originally developed by PSDI in 1985, Maximo was purchased by IBM in 2005 and rebranded as IBM Maximo Asset Management. It’s designed to help organizations manage their physical assets like facilities, vehicles, equipment and machinery. It improves asset lifespan and operation availability as well as reduces risk through preventive maintenance and lifecycle management.
Corrigo helps facility managers make the most of their role as well as optimize their workforce. It offers capabilities for maintaining campuses, organizing work orders, overseeing expenses and recording asset data to make more informed choices. It builds intelligence into every feature to help users get the most out of their facilities and get smart about managing their assets.
Ivanti IT Asset Management Suite (ITAM) optimizes IT asset usage for visibility and efficiency. It gives managers at-a-glance information about hardware and other physical assets that are crucial to successful business operations. It is comprised of the License Optimizer for Clients, License Optimizer for Servers and Asset Manager, the three of which combine to offer well-rounded life cycle management of IT assets.
Asset Panda offers equipment tracking and management in a flexible, customizable package for SMBs that want to automate their maintenance management activities. It optimizes a range of processes, from work orders to compliance to facility management to procurement. Users can access the full suite of features from any device and make adjustments to available modules to perfectly suit their needs.
As one of the Fluke Corporation’s main offerings, eMaint is a giant among maintenance management solutions. It delivers a robust, easy-to-use interface that helps organizations save time and money through better organization, maintenance planning and asset management.
Founded by Accruent at the end of the millennium, Maintenance Connection is one of the largest names in maintenance and asset management software. It is both powerful and user friendly, providing an intuitive interface. This full-featured solution offers the whole gamut of asset and maintenance management features that help users manage the life cycles of their physical assets. It comes in on-premise, cloud or hybrid deployments and is highly scalable to fit a diverse clientele.
Originally called Avantis and founded by Schneider Electric, this solution was absorbed by Aveva to become its comprehensive asset, maintenance, inventory and procurement management tool. It offers an innovative platform to improve the reliability, efficiency and safety of your operation.This platform helps users maintain peak asset performance through a combination of planned routine maintenance and predictive replacement of parts, improving asset lifespans as well as ROI. It goes beyond typical maintenance capabilities to offer a well-rounded, full-featured solution that can meet the needs of the most asset-intensive industry.
Fiix Inc. creates easy-to-use, intelligent maintenance management software that empowers businesses to organize their maintenance departments and turn data into actionable insights. Its innovative, multi-tenant cloud-based CMMS mobilizes the maintenance workforce with an unparalleled mobile experience and seamlessly interfaces with enterprise software to connect your entire organization—revolutionizing how thousands of companies’ worldwide schedule, organize, and track maintenance.
AssetWorks helps users manage assets like vehicles, buildings, infrastructure, facilities and more. From the staffing of your facility to the workflows involved in maintaining machinery, this technology streamlines the process and improves your operations.This integrated software/hardware combination is designed to manage fleets, consumables, equipment, property and more efficiently and cost-effectively. It aims to improve ROI, promote data transparency and reduce your overall operating costs.
Mpulse aims to provide customers with maintenance success. It offers reliable scheduling, reporting tools and tracking features to organizations with a heavy focus on equipment and facility management. It comes in four subscription levels: Bronze, Silver, Gold and Platinum with a varying breadth of features based on the package.
Tego's asset management solution allows embedding lifecycle data on assets, enabling real-time data visibility and decision-making.There is no need for connectivity to a cloud database, central system, or even a local power source.
Infor EAM is the most configurable enterprise-grade asset management solution on the market. It gives you the power to improve capital asset management in ways that increase reliability, enhance predictive maintenance, ensure regulatory compliance, reduce energy usage, and support sustainability initiatives. Available in industry-specific editions, it also gives you unparalleled flexibility to zero in on the specialized, industry requirements that can turn your company's asset management into a competitive advantage.
SAP EAM is a maintenance and asset management solution that supports the upkeep of facilities, machines, equipment, vehicles and anything in between. This software facilitates maintenance scheduling, tracks or monitors assets, promotes facility management as well as performing reporting and analytics capabilities. This all-in-one solution helps users manage their full facility and everything inside it.
Maxpanda Work Order CMMS Software offers a suite of tools that includes integrated asset management, inventory management and preventive maintenance. The system is web-based, allowing users access it from anywhere.
Infor Enterprise Asset Management is a powerful asset lifecycle, maintenance and performance management solution from one of the biggest names in software. It utilizes predictive technology to improve asset lifespan and operation efficiency. This scalable solution is highly customizable and comes in multiple industry-specific versions to ensure it will meet your organization’s unique needs. It offers modules for asset monitoring, maintenance management, fleet management, inventory management, reporting/BI and MRO.
MicroMain CMMS software makes it easy to manage maintenance and reduce costs. Our award-winning solutions have been saving organizations time and money for over 20 years. Our customers enjoy MicroMain’s: Ease of Use / Simple Navigation; Flexible Reporting; Streamlined Implementation; Friendly, Accessible Technical Support; and Outstanding Value.
Sage Fixed Assets—Planning is designed to do help you account for everything, and it allows you to manage as many projects as you need, regardless of the type or size. And when the assets are ready for use, they can be easily created in Sage Fixed Assets—Depreciation. To help you easily manage and report on your construction in progress projects, Sage Fixed Assets—Planning has multiple levels of detail tracking including over 45 user-defined fields, as well as numerous built-in reports such as project status and actual vs. budget variance. In addition, you can easily manage both capitalized and expensed assets and get key project information at a glance with “Project Snapshot.”
Building owners and occupiers are being challenged to deliver high performing workplaces that encourage people to work, meet, innovate and learn in a productive environment. Planon Universe for Corporate Real Estate and Facility Managers is an innovative Integrated Workplace Management (IWMS) platform that creates greater efficiency and quality in processes, measurably reduces corresponding costs and successfully contributes to the organisation’s performance. This IWMS platform combines innovative software solutions with proven best practices and professional services.
Assetic Assets is an intelligent asset register pre-configured for over 100 asset classes. Built in-line with international standards and best-practice, it is the central hub of your asset data including attributes, service level information, valuations, risk management and reporting. Assetic Assets incorporates powerful asset hierarchy structures which enable cross-asset category searching, analytics and reporting.
Acquired by ABB in 2010, Ventyx is an enterprise-grade ecosystem of maintenance, management and organization features. It ensures asset reliability for a range of companies, municipalities and operations worldwide. Some of its offerings include resource utilization, equipment monitoring, safety compliance, materials management and standardization.
MAPCON is a computerized maintenance management system that offers standalone asset management, preventive maintenance, work order management, and more. The solution is available to be purchased outright, or it can be paid for on a monthly subscription basis. It can be used for just one site or multi-site enterprises.
Directline is a completely customizable, all-inclusive maintenance management program including unlimited training and 24/7 support. DirectLine is designed to help streamline work orders, perform comprehensive preventive maintenance and leverage industry best practices.Because maintenance management isn't one-size-fits-all, DirectLine is designed to match the needs of each organization and sector. It starts by assigning each new client an implementation team, including an account manager and programming team. The team works with the client using a proven implementation process to customize each application, migrate data and train staff. Support is available for unlimited ongoing training as new staff comes on, ensuring everyone is always up to date.With over 35 years maintenance experience, Megamation has built applications with clients from single site locations to enterprise wide multi-national corporations. Each implementation team has a wealth of experience designing and customising professional maintenance systems.With customized and pre-built interfaces, Directline is designed to work with 3rd party applications used throughout a maintenance department and the rest of an organization.Directline has over 25 industry specific modules each designed with existing clients and made available to everyone. This includes a mobile app with all the features needed to do your maintenance work on the go.
Asset Essentials by Dude Solutions is designed to help users maintain and monitor their physical assets. It helps asset-centric operations enhance visibility, streamline workflows, improve processes and extend the lifespans of their assets. Dude Solutions acquired Bigfoot CMMS in 2017.
Oracle Enterprise Asset Management is an asset monitoring and maintenance solution from Oracle that helps users perform a range of tasks related to their physical assets. As part of Oracle’s larger E-Business Suite, Oracle EAM offers organizations the tools to manage maintenance processes for assets and inventory.This solution helps users plan and optimize maintenance activities, improve their asset lifespans, streamline work orders and track all asset-related tasks. The program also replaces spreadsheets and aggregates different data repositories while empowering organizations to perform proactive rather than reactive maintenance.
UpKeep is a mobile-based computerized maintenance management (CMMS) and enterprise asset management (EAM) solution. This integrated system is suitable for companies of all sizes and types. Maintenance and facility managers can use it to manage work orders, schedule preventive maintenance and monitor their assets. CMMS software helps prevent unplanned downtime and extend the lifespan of your assets.
Axxerion is a cloud-based computerized maintenance management system (CMMS) designed to bring efficiency and cost savings to any size company in different sectors including real estate, corporate, healthcare, education, retail, residential, manufacturing, service providers and construction Users can track and manage service requests, work orders, preventive (scheduled) maintenance, surveys, inventory of parts and financials and budgeting. Axxerion CMMS includes complete scheduling, reminders and online access using mobile phones and tablets. Axxerion manages buildings, areas, assets and equipment with their complete history and budgeting for updates and upgrades.Axxerion is role-based and everything needed is laid out for the users is on their home pages.Axxerion provides expert implementation with unlimited support via phone, email and live chat). Every client works with a project manager who is familiar with their implementation and is ready to help at any time.Axxerion is highly configurable. The screens and workflows can be changed by clients without any programming. The system grows and evolves with a client the needs change.Supported Operating System(s) include: Windows, Mac OS, Linux, iOS, Android, all of the popular web browsers on any platform
TabWare asset management is a computerized maintenance management solution that helps organizations of all sizes manage their physical assets. It offers a full set of features at a lower cost than many comparable platforms.This system was designed by maintenance professionals themselves to make the process of repairing, maintaining and managing assets more efficient. It helps maximize asset performance, reduce operating costs and boost profit margins.
At UXC Eclipse, our success has been built on providing intelligent business solutions that fit our customers’ needs – not ours! We select leading software providers from across the globe so that our customers receive the highest levels of service and skills. Our offerings include applications business consulting and project management, applications development, corporate performance management and business process management.
The suite from IFS Applications delivers reliability-centered maintenance to keep assets running at peak performance for as long as possible. Users can create and manage work orders, schedule and record preventive maintenance, perform KPI reports and a range of other advanced capabilities through its simple, colorful user interface.
Our proven technologies enable a systematic process for the complete life cycle management of infrastructure assets including roads, bridges, facilities, fleets, telecom, traffic signals and signs, ITS, and more. From planning and budgeting to asset acquisition and maintenance to regulatory compliance to replacement or disposal, AgileAssets software helps you manage your infrastructure assets, more efficiently and effectively, throughout their life cycle.
Manage Software licenses and understanding software license compliance with Asset Explorer. Getting information on the unauthorized software in the organization will help the asset managers to act proactively to curb illegal usage and problems associated with it.
Q Ware offers simple fixed asset maintenance for SMBs from a wide range of industries. This C S Company product aims to assist facility managers by streamlining their accounting, asset tracking and maintenance tasks from a centralized hub. It simplifies lifecycle management, optimizes technician tasks, facilitates work orders and more.
Operations Software Designed Specifically for Healthcare Organizations TheWorxHub is a comprehensive, cloud-based and mobile maintenance and operations management solution designed specifically for healthcare organizations. Easy to implement and use, TheWorxHub solves challenges with maintenance and work order management, surveys and inspections, PO and inventory, and capital planning, and includes comprehensive reporting.
Mainsaver offers robust Computerized Maintenance Management System (CMMS) software and practical business consulting delivering business-critical information. Mainsaver provides end-to-end CMMS within an integrated Enterprise Asset Management (EAM) framework. As one of the industry's foremost established CMMS supplier, Mainsaver is able to provide complete Asset Management solutions, superior products, and customer support with measurable ROI to numerous industries focusing on power, utilities, government, manufacturing, education and pharmaceuticals.
Pricing & Cost Guide for Enterprise Asset Management Systems
See the Price/User for the top Enterprise Asset Management Software… plus the most important considerations and questions to ask when shopping for Enterprise Asset Management Systems
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