Asset Management
Choosing the Best Asset Condition Monitoring Software for Your Business in 2024
Picture this: unexpected equipment failures that disrupt your operations, costly downtime that drains your resources, and a never-ending cycle of maintenance issues. It's not a situation you want to find yourself in.
Without proper asset monitoring, you're left in the dark, unable to catch early warning signs of asset deterioration. This puts you at risk of incurring high repair and replacement costs.
Moreover, neglecting asset condition monitoring can lead to safety hazards and regulatory non-compliance.
A robust software solution for asset condition monitoring is the solution. Before we jump into the 10 best asset condition monitoring software we collected from across the web based on real user reviews, let's quickly recap on what asset condition monitoring is and how software can help.
What is asset condition monitoring?
Asset condition monitoring refers to the process of continuously assessing the health and performance of physical assets, such as equipment, machinery, and infrastructure, to ensure they are operating optimally.
It involves monitoring various parameters, such as vibration, temperature, pressure, and electrical signals, to detect any deviations from normal operating conditions.
The goal of asset condition monitoring is to identify potential issues or failures early on, allowing maintenance teams to take timely and proactive actions.
This proactive approach enables you to minimize costs, improve operational efficiency, and maximize the reliability and availability of your assets.
What does an asset condition monitoring software do?
Asset condition monitoring software works by collecting data from sensors that are attached to assets, such as machines, vehicles, and buildings. This data can include things like vibration, temperature, and pressure.
The software then analyzes this data to identify any potential problems with the asset. If a problem is detected, the software can send an alert to maintenance personnel so that they can take corrective action before the asset fails.
There are two main types of asset condition monitoring software:
- Online monitoring: This type of monitoring collects data from sensors in real-time. This allows maintenance personnel to identify and address problems as soon as they occur.
- Scheduled monitoring: This type of monitoring collects data from sensors at regular intervals. This is less expensive than online monitoring but can be less effective at identifying problems early on.
Asset condition monitoring software is a valuable tool for improving the reliability and performance of assets. You can significantly reduce downtime, improve safety, and save unnecessary maintenance costs by simply identifying problems early on.
10 best asset condition monitoring software in 2024
- Facilio
- Predix
- SeeControl
- ThingWorx
- Moxa
- Emerson Ovation
- Honeywell asset performance suite
- Siemens MindSphere
- Oracle Primavera Asset Management
- SAP Asset Intelligence Suite
Facilio
With Facilio's asset management software, you can easily monitor the movement and real-time performance of your assets using intuitive dashboards that display both static and dynamic parameters. This allows you to stay updated on the condition of your assets at all times.
Moreover, you can quickly spot any inefficiencies in your maintenance processes by accessing detailed reports on important metrics such as mean time to repair and replace, mean time between failures, lifecycle cost, unforeseen costs, and more.
Utilize user-friendly visualizations and benchmark comparisons to monitor the health and performance metrics of your valuable assets. This way, you can effectively minimize downtime and ensure smooth operations.
Access comprehensive asset information conveniently in a centralized location. This includes details on maintenance activities, downtime, faults, failures, replacement history, and more.
Say goodbye to the hassle of searching for asset information across disparate systems. Everything you need is right at your fingertips.
Next, you can also automate the approval process across multiple stages, effectively track task progress, prioritize items, and allocate the workforce accordingly for optimal efficiency.
Take the hassle out of compliance management by putting it on autopilot. Stay on top of timely replacements and renewals for aging assets, mitigating the risk of compliance violations and the potential penalties that come with them.
What users think about Facilio:
Anirudh N, who works in real estate, and has been using Facilio every day for around 6 months now, says it might be the first predictive FM software out there!
In his words,
Overall, we've had a really smooth experience. The notifications and email flow has dropped considerably which has eased a lot of my colleagues and my time.
You can create workflows that helps you detect equipment problems before they happen. That's helped us have huge energy savings.
Facilio has an amazing 4/5 rating on GetApp
Predix
Predix is a cloud-based asset condition monitoring software that uses machine learning and artificial intelligence to predict when assets will fail. It can also be used to track asset performance and identify areas for improvement.
SeeControl
SeeControl is a software-as-a-service (SaaS) asset condition monitoring solution that helps organizations to improve asset reliability and performance. It provides real-time data on asset health and performance, as well as predictive analytics to help identify potential problems before they occur.
ThingWorx
ThingWorx is a platform for the Industrial Internet of Things (IIoT) that can be used to collect, store, and analyze data from a variety of sources, including sensors, machines, and people. This data can be used to monitor asset condition and predict when maintenance is needed.
Moxa
Moxa offers a range of asset condition monitoring solutions that can be used to monitor a variety of assets, including machines, vehicles, and buildings. These solutions use sensors to collect data on asset health and performance, which is then analyzed to identify potential problems.
Emerson Ovation
Emerson Ovation is a software platform that can be used to monitor and manage a wide range of assets, including pumps, motors, and valves. It provides real-time data on asset health and performance, as well as predictive analytics to help identify potential problems before they occur.
Honeywell Asset Performance Suite
This software platform that can be used to monitor and manage a wide range of assets, including equipment, facilities, and vehicles. It provides real-time data on asset health and performance, as well as predictive analytics to help identify potential problems before they occur.
Siemens MindSphere
This is an open, cloud-based platform that can be used to collect, store, and analyze data from a variety of sources, including sensors, machines, and people. This data can be used to monitor asset condition and predict when maintenance is needed.
Oracle Primavera Asset Management
Oracles' Primavera can be used to monitor and manage a wide range of assets, including equipment, facilities, and vehicles. It provides real-time data on asset health and performance, as well as predictive analytics to help identify potential problems before they occur.
SAP Asset Intelligence Suite
This is a software platform that helps monitor and manage a wide range of assets, including equipment, facilities, and vehicles. It provides real-time data on asset health and performance, as well as predictive analytics to help identify potential problems before they occur.
These are just a few of the many asset condition monitoring software solutions available on the market. The best solution for your organization will depend on your specific needs and requirements.
How do you go about deciding which one's best for you?
Tips for evaluating the right asset condition monitoring software for your facilities
Evaluating the right asset condition monitoring software for your use cases is no walk in the park. To add to the already complex challenge, the sea of vendors leaves you spoilt for choice.
To navigate this and pick a software that will tend to your needs today and in the future, keep these pointers in mind:
Consider your industry and asset types: Not all asset condition monitoring software is created equal. Some solutions are better suited for specific industries or asset types. For example, software for oil and gas companies will likely have different features than software for manufacturing companies.
Identify your needs: What do you hope to achieve with asset condition monitoring? Do you want to reduce downtime, improve efficiency, or extend the life of your assets? Once you know your goals, you can start to narrow down your options.
Evaluate features and functionality: Once you've identified a few potential solutions, it's time to start evaluating their features and functionality. Consider the following:
- Data collection and analysis: How does the software collect data from your assets? How does it analyze that data to identify potential problems?
- Reporting and alerts: How does the software generate reports? How does it send alerts when there is a potential problem?
- Integration with other systems: Does the software integrate with other systems, such as your ERP or CRM system?
Facilio is an industry favorite for end-to-end asset lifecycle management, and we'd be happy to show you why over a free demo. Click on the button below to get started!
