When was the last time you took stock of your enterprise asset management system? Does it still offer good value for money or are there now more affordable solutions on the market? How does it rank when it comes to efficiency?
Perhaps it’s time for an audit.
The profitability of your business depends on your ability to optimize productivity while minimizing costs. That’s where making smart enterprise asset management (EAM) decisions become essential.
An EAM solution enables you to manage your company’s physical assets throughout their individual lifecycles. The better you are able to manage them, the longer they’ll serve you.
Whether you run a small business or a large enterprise, the longer you can maintain your assets, the greater your returns. Put another way, a high asset turnover rate is detrimental to your bottom line, particularly if your business uses costly equipment.
EAM systems can help you get the best performance from your equipment and reduce downtime within your operation. Whether you manage infrastructure, buildings, vehicles, machinery, or office equipment, the right asset management tool can help you optimize the inspection process. This enables you to identify small or potential problems before they turn into larger, more costly ones.
Furthermore, asset management systems can help automate security and compliance processes. Such processes help you reduce risks within the workplace, thereby protecting both your employees and your business at the same time.
The right enterprise asset management solution can help protect your business.
The issue isn’t whether or not you need to implement an efficient EAM solution. In today’s competitive environment, you do. It’s essential to the management of your day-to-day business operations. Rather, the issue is finding the solution that is right for your business.
Ideally, you want an asset management solution that is affordable, efficient, scalable, and easy to use. The right system can help minimize negative impacts on your business by:
- Reducing the chances of critical assets failing
- Performing predictive maintenance via checklists
- Allowing proactive rather than reactive maintenance
- Helping you stay in compliance
- Providing employees with a safe work environment
A good asset management system will do all of the above seamlessly, without creating additional work for your employees.
Why look to cloud-based enterprise asset management solutions?
Managing your assets on paper is time-consuming. It increases the day-to-work workload of your employees, which in turn increases the cost of doing business. In light of human error, inaccuracy and non-standardized data are par for the course, making data analysis both difficult and unreliable.
In addition to minimizing errors, “the cloud has an inherent advantage whereby data collected by humans and your machines is stored in one commonplace, so you are creating ‘one source of truth’ for your machine-generated and human-generated asset register.” (Source: Comparesoft)
Cloud-based solutions like Coral Collect offer many benefits. For example:
- All authorized personnel can quickly access the same information from anywhere
- Managers can monitor the progress of inspections in real time
- You can modify your mobile forms in moments and immediately deploy them in the field
- Immediate access to field reports allows you to stay ahead of problems and keep your equipment running
Plus, with a cloud-based solution you don’t have to make a huge upfront investment like you often do when you rely on location-based software.
Look for an EAM that is flexible, and affordable.
Enterprise asset management software can be expensive and inflexible. Do your homework before investing. Keep in mind that if you’re not able to adapt the software to suit your processes, you’ll need to adapt your processes to suit the software. It’s not ideal. That’s why so many look to Coral Collect.
With Coral Collect, you can create forms that orient data entry around your existing workflow. In other words, the software adapts so that you don’t have to. Plus, its user-friendly mobile interface minimizes the learning curve and makes it easy for employees to get on board.
Furthermore, unlike many of our more expensive competitors, Coral Collect is fully scalable. All of our plans include an unlimited number of users and can be easily integrated with your existing systems and databases. This means you get to avoid the headache of transitioning to an entirely new system.
Looking for an intuitive and easy-to-use mobile forms application?
Coral Collect has a user-friendly drag-and-drop form builder that allows you to create your own custom forms. Our clients frequently tell us they’re surprised that such a sophisticated platform can be so easy to use. If you’re seeking an asset management tool that combines this level of simplicity with affordability and flexibility, learn more about Coral Collect.