Best Asset Management Software for 2022

Are you mindful of the condition of your capital right now as you’re reading this? A business organization is nothing without its assets — but they can be difficult to manage by yourself.

That’s why most organizations use EAM software to digitize many phenomenon elements to improve efficiency and accuracy.

We’ve listed the best asset management software for 2022 to help you make an informed choice. Read on for all the details.

What is Asset Management Software? 

In simple terms, asset management software is a centralized system to track and record all stable and intangible assets or services in real-time.

You can see asset location, utilization, maintenance, and cost. Such systems also make it clear to manage crucial documents and asset life cycles from acquisition to improvement and disposal. 

Benefits 

Some of the important perks of asset management include reduced administrative fees, boosted asset usage, easy conformity, faster audits, and improved services.

It allows you to supervise both hardware and software from an original platform. It also facilitates you to manage assets from multiple geographical locations from any place in the world. 

Key Features 

The basic features of asset management tools include asset life cycle management, preventive maintenance, inventory management, scheduling, and reporting.

Some software also offers other features like vendor, performance tracking, license, and fleet management.

Best Asset Management Software 

Finding the appropriate software that suits your business is very important. All EAM platforms associated with CMMS software offer asset management, but some stand out from the crowd for this important feature.

Based on our investigation, here is the finest asset management software list.

Infor EAM 

Asset Management Software

Infor EAM is a service management solution that helps organize, track, manage assets, work orders, preventive maintenance, materials, inventories, budgets, and projects.

You can also monitor KPIs, produce reports, track labor and add routes to work orders. It’s accessible in the cloud, for distribution on-premise or via hybrid distribution, and comes in industry-specific editions to provide the needs of your company.

Top Benefits 

Easy Integration: EAM system architecture helps you distribute, update and exchange data with other external software.

It also provides event tables, drivers, codecs, import and export, and an integration server. 

OpenCAD: You can amplify and access drawings and count the floor space accessible and in use. 

Geographic Information System Interface: You can look at the exact geographical location of assets, check asset history, picture all equipment in a set hierarchy, and evaluate equipment based on topographical location. You can also build work orders and sequential routes on the map. 

Analytics: Collect and consider asset data, create “what if” scenarios to help predict future performance, and sync all that data with Infor EAM.

You can also custom-make variables and set dates for analysis and calculation based on your company’s demands. 

Electronic Records and Signatures: This aspect will help you create an electronic record for all practices and use signatures to confirm these events.

It enables you to see when the essence is updated, inserted, and deleted from an Infor EAM table with the help of PM management and audit prospects.

Primary Features 

Asset Management: You can control, structure, record, and institutionalize asset identity, maintenance history, configuration, and location.

It also allows you to draft lot numbers, track asset transactions and depreciation, analyze asset achievement, and store warranty data. 

Work Management: This feature helps you guide and plan maintenance work orders and the assets required to complete the orders.

Create and schedule preventive maintenance work orders and clearly define work data.

You can also administer purchase orders, employees, work schedules, care campaigns, revision regulation, and more. 

Materials Management: Regulate the stock level for parts and materials to cut down low stock or overstocking.

You can robotize stockroom management, record keeping, parts adjustment, purchase requisitions, and goods receipts and returns.

It also offers material organization, stock stuffing, parts inquiry, and part warranties.

Inspection Management: You can administer the formation of inspection routes asset-specific assessment points, schedule inspection points, and predict the future condition of assets.

It will automatically consider inspection results and create a work order outside set criteria.

You can also organize meter-based or condition-based inspections and calculate assets’ remaining life or evacuation date.

Budget Management: This feature will aid you in automating budget creation and evaluating maintenance expenditure. You can determine financial data and KPI’s and create ranked budget account codes.

It lets you analyze and compare committed, actual, and predicted costs, create future capital financing requests, and track capital cost requests based on forecasted costs. 

Limitations 

  • There is no free of cost trial. 
  • It is tough to delete the menus used in past releases. 
  • Managers are not allowed to manage bottled reports.
  • You can’t view project in Gantt format.

IFS EAM 

Asset Management Software

IFS EAM helps you control assets and manage asset life cycle and performance to protect your assets run for a very long time.

You can build and manage work orders, record and schedule preventive maintenance, analyze KPI’s and establish compliance. 

It offers features like speedy management, document management, MRO (maintenance, repair overhaul), material management, facilities management, plant engineering, and more.

Top Benefits 

Usability: You can fetch information and use the IFS lobby to customize and administer software access points. 

Reliability-Centered Maintenance: You can automate information collection and use PM and RCM software to derive a preservation strategy for your equipment.

By connecting analysis and maintenance strategy, you can maintain and improve the condition of your maintenance action. 

Preventive Maintenance Strategies: The system blends calendar-based scheduling with the condition- and event-based preservation to employ a predictive care plan. 

Safety and Integrated Health Management: It enables you to conduct regulatory bodies’ health and safety standards.

Risk management, material hazard data, incident and illness tracking, and first-aid licenses are some of the activities that ensure the safety of your employees and capital.

Primary Features 

Asset Life Cycle Management: Manage the entire capital life cycle from design or construction to disposition.

You can approach data sheets, original PM plans, original purchase and warranty information, spare parts, and more with the aid of asset design components. 

Fleet and Asset Management: This component lets you hold asset portfolios find new opportunities, software, merchant, and partners. 

Maintenance, Repair, and Overhaul: This feature will aid you with logistics, estimate handling, configuration management, and more. It supports MRO of aircraft tools, landing gear assembly, uncontaminated parts tracking, and APUs. 

Project Management: You can conduct all projects and administration processes from creation to monetary control. 

Aviation Maintenance and Engineering: You can approve aircraft configuration in real-time and manage in-service asset structure.

Improve conversation between operations controllers and machinists with quick progress updates. You can also automatize the reservation of parts based on appeal.

Limitations 

  • Free trial is not provided.

Asset Essentials 

Asset Management Software

Asset Essentials is an enterprise and asset management solution that enables you to streamline workflows, enhance operational efficiency, improve processes, analyze KPIs, administer work orders and extend asset life cycles.

It also offers to acquire order management, audits and inspections, document management, and more.

Top Benefits 

Connector Tool: Import and export information in CSV format, map filters and formats, and custom-make what needs to be exported and imported and the arrangement you want to see the information. 

Mapping: Build and store a base map of your location and develop, manage, and filter task orders on geolocation. 

GPS Breadcrumb Tracking: Track a machinist and users through GPS location and gain vision into travel guidance and speed. 

Safety Programs: Upload, cache, and categorize all the appropriate safety documents, assign an employee for archive auditing, and attach relevant documents to Project Managers and work orders. 

Incidents: You can document accidents, equipment breakdown, and near misses and export or print incident-specific particulars or reports.

Primary Features 

Workflow Management: You can administer work order requests, location- or asset-specific work orders, PM arrange, job planning, and work prioritization.

This tool will help you automate request routing and customize fields to access relevant work order data. 

Equipment and Asset Management: This feature empowers you to track costs, maintain history, vendors, and suppliers for individual assets, and work order history.

You can accept the graph to find the exact location of assets, tie calendar and meter reading to PM scheduling and calculate meter readings. 

Audits and Inspections: You can build detailed steps for checkups and audits, attach photos, documents, and print or export set analysis and audit programs. 

Work Order Management: You can appeal, assign, approve, and complete work orders. Essential abilities include locking labor transactions, associating parts with work orders, recording equipment usage, tracking dealer transactions, and making batch updates. 

Reporting and Analysis: The tool offers predefined dashboards, including reports, KPIs, and charts. You can approach reports on budgets, assets, work orders, PM, and projects.

Limitations 

  • It doesn’t change the condition of equipment to unavailable when a work order is in progress.

IBM Maximo 

Asset Management Software

Maximo by IBM is an asset inventory tool that helps you monitor assets and equipment, administer contracts and schedule preventive maintenance.

It provides space management, predictive maintenance, inventory administration, reports, integration, and more. It also provides multiple role-specific mobile apps for both Android and iOS devices.

Top Benefits 

Migration Tool: You can easily administer software deployments to production, transfer composition, and handle customization.

It also enables ideal and repeatable roll-outs to help manage administrative compliance and authentication. 

Data Set Designer: This software helps you create data sets, specify fields or content for analysis, configure, sort, filter the info, and export content in CSV format. 

AI Capabilities: You can monitor activity, assets, and equipment, manage anomaly disclosure and perform main cause analysis using the tool’s APM asset monitor. 

Analytics: Monitor KPIs and view anticipated reports to analyze the care of assets and their life cycles. 

Templates: Create and manage contacts, tickets, service requests, reports, and other generic templates to help you better the speed of frequent work.

Primary Features 

Enterprise Asset Management: You can administer asset life cycles, workflow phenomenons, and asset operations. It aids you in adding new assets, handling asset information, and regulating inventory.

It offers preventive maintenance, acquisition management, task and activity management, and contracts management modules.

Predictive Maintenance Insights: You can administer future failures, track the impact of asset failure and detect anomalies in asset behavior.

With IBM Watson, it’s possible to guess patterns and unknown reasons for failures and produce a failure probability curve. 

MRO Inventory Optimization: A cloud-based inventory administration platform helps you manage parts, stocks, consumable or critical parts, and more.

You can also monitor MRO inventory performance, prioritize work based on workload, and produce reports.

Storeroom Management: Monitor inventory opportunity and balances, add additional storerooms, reorder rules and record physical counts.

It empowers you to preview real-time adjustment in the balance of an item, issue items in the work order plan, and transfer rotating items. 

Integration: You can accommodate with popular applications like ServiceNow, Salesforce, SAP, Trello, Oracle, and more.

IBM App Connect supports end-to-end security, management of objects when connecting to third-party applications, and bulk data retrieval.

Limitations 

  • You can not see profession planned in the preferred order section.

Conclusion 

Hopefully, that brief analysis gave you a better concept of which vendors to add to your list for asset management software with the necessary potential.

Some will be a better match susceptible to your business size, budget, and other needs, so check out our full EAM observation report to get an in-depth disintegration of the options. 

Is there any asset management software not included in this article that you think to get a place in the best of the best? Please provide us a comment and tell us why!

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