The Complete Guide To Enterprise Asset Management

Key takeaways

• Traditional EAM systems are restricted to asset information and maintenance logs, serving only as an asset repository. This limitation leads to siloed data, inefficiencies, and restricted the ability to manage the entire asset lifecycle.
• On the other hand, a Connected CMMS offers a comprehensive view of all assets and their real-time conditions, enhancing service request processes to ensure asset reliability.
• By focusing on asset depreciation, a Connected CMMS reduces the risk of failure and improves asset reliability, seamlessly facilitating predictive maintenance.
• A Connected CMMS enables organizations to efficiently manage assets, improve maintenance strategies, and comply with industry-specific needs, ultimately increasing the asset value and performance.

The director of facilities frowned at the blinking cursor on her computer screen. 

Another day, another overwhelming spreadsheet. 

She was scrambling to track an avalanche of work orders, determine the whereabouts of a lost piece of critical asset, and sort through a mountain of warranty paperwork—all while her limited budget shrank and deadlines loomed. 

Sound familiar? 

This frustrating scene is all too common for those navigating the complexities of enterprise asset management.

They face a maze of disjointed systems that refuse communication, manual processes that practically invite errors, and an exasperating lack of centralized information. The chaos in asset management can seem insurmountable, but there's a way forward.

Top EAM software options: A head-to-head comparison

The Enterprise Asset Management (EAM) market is filled with a plethora of choices, presenting a challenge for decision-makers in selecting the ideal solution.

To ease your decision-making process, we've conducted an extensive analysis of user reviews and experience reports on leading EAM platforms.

Before we dive into the comparison of top EAM solutions in the market, let us take a moment to understand the shortfalls of standalone EAM systems.

The downfall of standalone EAM 

Standalone EAM systems once held promise but have become cumbersome as they fail to adapt to modern demands. These legacy CaFM systems compound problems in environments where equipment ranges from small furniture pieces to major building components.

• Identification and convention issues: Lack of a standardized naming convention complicates asset management, leading to inefficiencies.
• Data interoperability challenges: Inefficient import tools necessitate error-prone manual data entry processes.
• Visualization and spatial context gaps: Difficulty in visualizing assets on floor plans hinders maintenance strategy setup and resource allocation.
• Asset movement tracking limitations: Inability to efficiently track asset movement within and across sites results in confusion and potential losses.
• Check-in/Check-out process inefficiencies: Lack of system capabilities to manage these processes affects equipment and furniture accountability.
• Warranty management frustrations: Manual tracking of warranties leads to missed repair opportunities and unexpected expenses.

Why Connected CMMS is the future of asset management

With operational resilience, sustainability, and cost optimization becoming universal priorities, the EAM module within a computerized maintenance management system (CMMS) offers leaders across asset-intensive industries a clear path to achieving these goals. 

Here are the reasons why your EAM needs to be a part of your CMMS and not a standalone system.

1. Maximizing asset lifecycle value  

Your facilities, infrastructure, and real estate investments carry immense value. With an EAM integrated with a CMMS, you can:  

• Extend asset lifespans: Through connected predictive maintenance and real-time monitoring, EAM minimizes wear and delays replacements, boosting returns on investment.
• Enhance capital planning: The insights from EAM software empower you to make informed decisions on asset repairs, upgrades, or retirements, aligning with both financial and operational goals.

2. Driving operational efficiency  

In regions like the EU and ANZ, where compliance and sustainability are key, Connected CMMS supports eco-friendly upgrades and certifications.

Meanwhile, in the US and the Middle East, where maintaining operational efficiency and tenant contentment is crucial, it ensures consistent performance and service excellence.

A Connected CMMS consolidates and digitizes asset data, breaking down silos and streamlining processes. This results in the ability to:  

• Reduce downtime: Predictive analytics catch potential issues before they disrupt operations.
• Automate routine tasks: Routine maintenance tasks are automated with intelligent workflows which reduce manual efforts and helps achieve more with less.  

3. Enabling data-driven decision making  

A Connected EAM platform generates crucial insights by unifying data across diverse assets and sites, enabling leaders to:  

• Watch asset health live: Dashboards and IoT provide a comprehensive view of asset performance.
• Initiate proactive strategies: Shifting from reactive solutions to strategic asset management planning reduces costs and enhances output.
• Assess benchmark performance: Metrics across regions and portfolios spotlight underperformers, enabling precise interventions.

US companies use EAM for agility, whereas in the EU, regulatory-heavy sectors employ it to meet rigorous standards. ANZ and Middle East leaders value performance benchmarks to manage varied portfolios effectively, from urban to remote settings.  

4. Supporting scalability across portfolios  

Connected EAM offers a centralized approach to managing complex portfolios across various regions, ensuring consistent:  

• Data visibility: Consolidate real-time data of asset performance for a global overview.
• Uniform processes: Implement consistent facility maintenance and compliance procedures.
• Customizable scalability: Adapt the system for varied portfolios, from corporate campuses in the US to mixed-use ventures in the Middle East.

5. Building resilience in uncertain times  

Amid global disruptions like supply chain challenges and economic shifts, Connected CMMS fortifies organizations with:  

• Contingency planning tools: Prepare for unforeseen events with scenario modeling and asset checks.
• Enhanced supply chain visibility: Better manage inventory and spare parts to prevent delays.
• Cost control strategies: Monitor expenses and forecast future needs more precisely.

 A connected enterprise asset management software transcends maintenance—transforming assets into growth, efficiency, and sustainability drivers. For executives worldwide, it provides the toolkit to tackle today’s challenges and lay the groundwork for future success.

Globally, be it in the US, EU, Middle East, or ANZ, those embracing Connected CMMS now will lead their sectors by utilizing insights, streamlining operations, and aligning with global priorities like ESG and superior tenant satisfaction. 

The real question isn't whether to invest in this innovative solution but how rapidly it can be deployed to realize tangible benefits. Connected EAM epitomizes the future for asset-rich sectors—don’t fall behind.

Top 10 EAM software in the market: a deep-dive comparison

Below, we highlight leading EAM solutions available in the market today, focusing on the strengths and weaknesses of each system through detailed analysis of user feedback and ratings.

1. Facilio

Facilio offers a comprehensive CMMS  for asset management that enables real-time asset tracking, preventive maintenance scheduling, automated work order management, and predictive maintenance capabilities powered by AI. 

This includes a hierarchical structure to organize assets by site, building, floor, and space. Each asset has a detailed profile with information like specifications, location, maintenance history, warranty details, and associated documents (manuals, etc.)

The system can generate QR codes for assets, allowing technicians to access asset information quickly using mobile devices.

Facilio helps track key performance indicators (KPIs) like Mean Time Between Failures (MTBF) and Mean Time To Repair (MTTR) to provide insights into asset reliability.   

The EAM platform enables tracking asset lifecycle costs, including purchase price, maintenance expenses, and depreciation, to inform replacement decisions. Its Connected CMMS platform integrates with building systems and sensors, providing a holistic view of asset performance.

• Best for: Organizations with complex asset management needs across multiple sites seeking a modern, IoT-driven EAM solution with a focus on efficiency and sustainability. 
• Pros: API-first platform, IoT-driven insights, customizable dashboards, seamless integrations, no-code workflow configuration.
• Cons: Some users note that while Facilio is comprehensive, it may have a learning curve due to its broad range of functionalities. 

2. UpKeep 

UpKeep is a mobile-friendly cloud-based CMMS that is suitable for industries including manufacturing, construction, and healthcare. This platform makes maintenance management and work orders accessible on the go, enhancing operational mobility and asset tracking.

With features like work order creation, prioritization, and inventory management, UpKeep streamlines maintenance operations significantly. 

• Ideal for: Businesses requiring a mobile-first approach to asset management. 
• Shortcomings: Some users experience a lag in asset load times and wish for extended feature sets. 
• User reviews: "Upkeep is a great tool for managing our field technicians. The mobile app is easy to use, and the offline functionality is essential for our operations. However, the reporting features are quite basic." - Software Advice

3. Accruent Maintenance Connection 

Accruent's Maintenance Connection delivers CMMS capabilities that are suitable for large industries such as manufacturing and healthcare.

It aids in tracking orders, managing maintenance activities, and is conducive to multi-site operations management. Features like centralized views and scalable infrastructure make it ideal for comprehensive asset management. 

• Best For: Heavy industries like oil and gas, mining, and more. 
• Shortcomings: The system's interface can be clunky, hindering feature discovery. 
• Reviews: "Maintenance Connection is a powerful CMMS with a wide range of features. However, the user interface can be a bit clunky, and the implementation process can be complex." - G2

4. IBM Maximo 

IBM Maximo is known for its sophistication in asset management, offering a hybrid cloud-based platform that combines APM solutions with comprehensive reliability data. It provides tools for asset monitoring, predictive maintenance, and performance optimization. 

• Preferred by: Industries requiring robust data analysis and performance optimization, such as energy, utilities, and public sector organizations. 
• Shortcomings: It presents a steep learning curve, especially for firms without dedicated IT teams. 
• User Review: "IBM Maximo is a powerful EAM solution with a wide range of features. However, it can be expensive and complex to implement, requiring significant IT resources." - Capterra

5. Fiix 

Fiix combines asset management with cloud and mobile capacities, providing insights through maintenance frameworks and IoT solutions. It targets basic maintenance needs while granting organizations visibility over work and resources. 

• Ideal for: Large enterprises needing a fundamental maintenance structure with scope for IoT integrations. 
• Shortcomings: Reporting modules can be challenging, and the Free plan omits analysis tools. 
• User Review: "Fiix is a great CMMS for the price. It's easy to implement and use, and the support team is always helpful. However, the reporting features could be improved." - Capterra

6. eMaint CMMS 

eMaint CMMS is tailored to boost asset reliability, allowing standardized procedures and improved team collaboration with robust cloud-based accessibility. Its multilingual platform ensures global applicability and helps in extending equipment life through preventive maintenance schedules. 

• Ideal for: Global organizations needing multilingual support and standardized asset management practices. 
• Shortcomings: Integration challenges and a mobile app that lacks advanced features. 
• User Review: "eMaint is a good CMMS with a user-friendly interface and decent customization options. However, the reporting features could be improved, and the customer support experience can be hit or miss." - Software Advice

7. IFS EAM 

IFS EAM presents a comprehensive suite catering to assets, supply chain, and project management with AI-enhanced, predictive analytics. 

• Ideal for: Large organizations with complex workflows spanning various industries like telecommunications and logistics. 
• Shortcomings: Reports of slow customer support and a steep learning curve. 
• User Review: "IFS EAM is a powerful EAM solution with a wide range of features. However, it can be expensive and complex to implement, requiring significant IT resources." - G2

8. HxGN EAM 

The HxGN EAM platform offers asset monitoring and performance management across the manufacturing and public sectors. It strongly emphasizes data centralization and compliance. Its capabilities allow detailed asset tracking and improve end-to-end lifecycle management. 

• Ideal for: Sectors with linear assets needing intricate GIS integrations, such as railways and logistics. 
• Shortcomings: The interface may cause a longer learning period, and its integration support is limited. 
• User Review: "HxGN EAM is a powerful EAM solution with a wide range of features. However, it can be expensive and complex to implement, requiring significant IT resources." - Capterra

9. Redlist 

Redlist is a CMMS tailored for enterprises focused on production planning and asset management, ideal for industries such as agriculture and oil & gas. It supports routine maintenance scheduling and facilitates tasks like lubrication management with default templates and automated workflows. 

• Ideal for: Businesses with periodic maintenance needs, including lubrication management. 
• Shortcomings: Software lags could result in data delay or loss, with limited dashboard customization. 
• User Review: "Redlist is a user-friendly EAM solution with a strong focus on risk management. However, the customization options are limited, and it may not be suitable for complex asset management needs." - G2

10. Fracttal 

Fracttal offers a mobile-centric CMMS/EAM platform, distinguished for supporting digital transformations across various sectors by reducing idle time and improving productivity through mobile solutions and AI-powered insights. 

• Ideal for: Energy, utilities, and real estate sectors seeking mobile asset management solutions. 
• Shortcomings: Users mention occasional app glitches and complex filtering options. 
• User Review: "Fracttal is a decent CMMS for the price. It's easy to use and has good mobile capabilities. However, the feature set is limited compared to some competitors, and the customer support can be unreliable." - Software Advice

Future-proof your assets with intelligent EAM

Enterprise asset management is a critical function for organizations across all industries, but it's especially vital for those with complex operations and a large portfolio of assets. 

Whether it's an educational institution managing facilities across multiple campuses or a manufacturing plant overseeing intricate production lines, EAM provides the framework for optimizing asset performance, reducing downtime, and extending asset lifecycles.

Modern EAM software solutions, like Facilio, leverage API-first platforms, IoT-driven insights, and no-code configurations to empower organizations with the tools they need to manage their assets effectively. By embracing these advancements, organizations can future-proof their operations, improve efficiency, and achieve their business goals.

Whether you're looking to improve asset reliability, reduce maintenance costs, or enhance sustainability, EAM provides the foundation for achieving your objectives and maximizing the value of your assets.