What is Enterprise Asset Management Software
Definitions Enterprise Asset Management

What is Enterprise Asset Management Software?

What is Enterprise Asset Management Software?

Enterprise Asset Management is the management and control of the information technology assets within the enterprise. The asset management repository includes a description of the asset as well as contract information pertaining to its acquisition.

Assets of an enterprise across departments, facilities, business units and geographical locations can be managed through Enterprise Assets Management software.

The Enterprise Asset Management Software integrates techniques for holistic control and optimization throughout asset life cycles, including design, commissioning, operations, and replacement of the assets within the enterprise.

Enterprise Asset Management is categorized as follows:

  • Physical asset and infrastructure management
  • IT service management
  • Electronic media and content management which are the digital assets of an organization.
  • Fixed asset management and accounting
  • Emerging asset management

Enterprise Asset Management is geared toward the following results:

  • Maximized ROA.
  • Reduced costs and risks.
  • Improved asset decision making.
  • Compliance with required regulations.
  • Enhanced efficiency and increase asset service responses.
  • Lowered TCO.

Early Enterprise Asset Management software was standalone, or it was networked and operated by multiple users who entered data manually. Today, much of the asset data comes in automatically from sensors attached to the asset and connected over wireless or wired networks, sometimes across thousands of miles, to the Enterprise Asset Management system.

Enterprise Asset Management applications when implemented, enable remote monitoring of assets, as well as mobile access to the Enterprise Asset Management software.

Enterprise Asset Management software is often integrated with ERP software, primarily for accounting purposes, though some organizations also use their ERP system’s procurement; human capital management; supply chain management; and environment, health and safety functions instead of, or in combination with, those in the Enterprise Asset Management software.

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