Enterprise asset management systems are specialized software tools used for tracking & management of a company’s physical assets (e.g., machines, vehicles…). For this reason, EAM software is typically used in asset-intensive organizations like manufacturing plants or heavy industrial companies.
EAM systems take care of the assets during their entire lifecycle: from acquisition and installation to maintenance and retirement. Moreover, EAM software is used to monitor related costs, ROI, and other financial aspects of the assets.
A typical EAM system focuses on these areas:
- Asset management
- Inventory and stock management
- Financial management
- Maintenance management and scheduling
- Facility management (partially even property management)
EAM vs. other systems
EAM systems are closely related to other specialized corporate software, such as Computer-Aided Facility Management (CAFM) systems and CMMSs (Computerized Maintenance Management Systems). However, EAMs usually have a broader focus—they concentrate on the lifecycle of the company’s assets as well as on their financial values.