Asset maintenance software refers to an array of tech-enabled solutions designed to help organizations manage, monitor, and maintain their physical assets. Asset maintenance tools can play an important role in helping maintenance teams manage tasks, reduce downtime, and lengthen the expected useful asset lifecycle for critical equipment. For facilities managers, who must take a lead role in organizing, delegating, and evaluating maintenance activities, asset maintenance software can help simplify preventive maintenance (PM) scheduling, streamline inventory management, enhance overall operational efficiency, and much more.
Different types of asset maintenance software
Organizations will take various factors into consideration before choosing the right type of asset maintenance software for their needs, including organizational size and maturity, the nature of the equipment in use, and the way in which the equipment is being utilized.
Below, we take a closer look at some of the most common types of asset management solutions:
- Spreadsheets are the most basic tool for tracking maintenance schedules, recording asset details, and transmitting work orders. This method is generally only suitable for smaller organizations with limited assets. While this approach is affordable, easy to use and easily customized, spreadsheets rely on a great deal of manual data entry. As a result, spreadsheets are often highly vulnerable to human error. Spreadsheets may also have limited collaborative capabilities and can be difficult to scale for operations with their sights set on growth.
- Standalone asset management software will typically focus exclusively on asset tracking and organization of basic maintenance tasks. This solution, which is best suited to small- and medium-sized businesses, will be more robust than spreadsheets. It may include some level of automation and reporting. That said, this type of solution may require more manual data entry relative to a more comprehensive and integrative solution.
- Enterprise Asset Management (EAM) Systems are typically integrated software solutions that combine asset maintenance with other enterprise functions like procurement, finance, and human resources. This solution is more commonly used by large, asset-intensive organizations because it can provide a holistic view of asset performance, typically includes integrative capabilities with other enterprise systems, and may yield advanced data for better informed decision making.
- Internet of Things (IoT) Enabled Systems use advanced condition monitoring devices and sensors to provide real-time monitoring and advanced analytics for predictive maintenance. The real-time data and enhanced asset performance monitoring capabilities may be better suited to large organizations with extensive financial resources. The initial investment in this type of technology may be costly, implementation can be complex, and the demand for effective data management will be ongoing.
A Computerized Maintenance Management System (CMMS) is a comprehensive software platform designed to automate and streamline maintenance management processes. This encompassing strategy combines a wide variety of asset management, facility management, and maintenance management functions into a single, integrated solution. Typically deployed by asset-intensive organizations of all sizes, CMMS platforms may include features such as PM scheduling, automated work order generation, inventory control, advanced data analytics, and detailed reporting.
Asset maintenance software features
As the section above demonstrates, there are numerous options available to firms seeking out asset maintenance software solutions. The right solution for your organization will depend on a number of factors including the size of your operation, the maturity of your organization, and the nature of your business. However, there are several common features that you can expect from most reliable asset maintenance programs such as:
- Asset tracking including a centralized database for storing detailed asset information like make, model, serial numbers, and location
- Preventive Maintenance (PM) scheduling including a calendar view of maintenance tasks and automated scheduling based on time intervals, usage metrics, or real-time condition
- Work order management including automatic generation, prioritization, assignment, tracking, and reporting
- Inventory management including stock level tracking, reorder alerts and vendor information like cost, contact, and order history
- Predictive maintenance capabilities when coupled with real-time data from condition monitoring sensors, IoT devices, and advanced predictive analytics
- Mobile accessibility enabling field technicians to view and update work orders from the field
- Detailed reporting on asset performance, maintenance costs, downtime, and other key metrics, as well as quick access for authorized users to data and insights through a user-friendly dashboard
- Regulatory compliance checklists that integrate safety procedures, industry standards and regulatory requirements into standard operating procedures (SOPs)
Integration capabilities including seamless compatibility with Enterprise Resource Planning (ERP) systems and a full spectrum of APIs.
Who uses asset maintenance software?
Maintenance personnel and facilities managers rely on asset maintenance software in numerous aspects of their daily operation. Because a reliable asset maintenance software solution will typically facilitate coordination between a variety of different operational functions, different members of your organization will use this software in different ways.
Below, we take a closer look at some of the ways professionals across maintenance departments engage with this kind of software in their daily operations.
- Maintenance technicians use asset maintenance software to receive, update, and complete work orders, as well as access work orders through mobile application, follow preventive maintenance schedules, and track asset condition.
- Maintenance managers use asset maintenance software to create and manage preventive maintenance schedules, assign work orders to technicians based on availability, skills, and priority of tasks, track the completion of work orders, monitor technician performance, and ensure adherence to maintenance schedules.
- Facilities managers use asset maintenance software to ensure all asset information is up-to-date and accurate, to track maintenance costs and budget for future maintenance needs, and to ensure maintenance operations comply with regulatory standards and internal policies.
- Inventory managers use asset maintenance software to monitor inventory levels of spare parts and supplies, maintain optimal inventory levels, avoid stockouts, manage supplier information, track order histories, and evaluate vendor performance.
- Health and safety officers use asset maintenance software to integrate safety checklists and procedures into work orders, monitor compliance, report and track safety incidents, analyze trends, and implement corrective actions.
How will asset maintenance software help my team?
The right asset maintenance software solution can be an invaluable source of support for your maintenance team. Key features–like automated work order generation, preventive maintenance (PM) scheduling, and streamlined inventory management–can help your maintenance team and your critical assets perform to their fullest potential.
A leading edge asset maintenance software solution should offer the following benefits, among others:
Increased efficiency
Automated work orders, streamlined communication, and access to real-time performance data can dramatically improve your maintenance team’s productivity. For instance, Bentek, an ISO 9001-certified manufacturing facility in San Jose, California, has reported a 30% improvement in time management since implementing Limble’s CMMS.
Reduced downtime
Regularly scheduled inspections, routine preventive maintenance scheduling, and predictive maintenance can provide your maintenance team with the data, insight, and framework to anticipate and intervene with potential failures before they can lead to significant downtime. For instance, Rimex–a leading industrial wheel and rim manufacturing company–reported a 30% decrease in dowtime following the implementation of Limble’s CMMS software.
Cost savings
Preventive and predictive maintenance can help limit the severity and frequency of equipment repairs, ultimately reducing the overall cost of repairs. For instance, Allagash Brewing Company reported a 40% decline in unplanned work orders since implementing Limble’s CMMS, a figure which represents a significant reduction in operating costs.
Enhanced asset performance and asset utilization
Asset tracking features make it possible to review the history, performance metrics, and maintenance activities around a given piece of equipment all on a single, user-friendly dashboard. This empowers maintenance managers to ensure critical assets are operating optimally, maximizing output, and minimizing the consumption of energy.
Improved regulatory compliance
Safety checks, compliance checklists, and Standard Operating Procedures (SOP) can provide your maintenance team with an effective framework for ensuring regulatory compliance, which can reduce the risks of accident or injury as well as the penalties and fees that may be triggered by noncompliance.
How does your asset maintenance software perform?
Maximizing the benefits of an asset maintenance management software solution requires ongoing oversight, evaluation and, in some cases, adaptation. It’s important to continuously monitor outcomes in order to ensure that your maintenance software and your maintenance program are both performing optimally. Monitoring requires a well-chosen set of metrics.
Below, we identity some Key Performance Indicators (KPIs) that can be used to evaluate the performance of your asset maintenance software:
- Data visibility, with real-time data and insights into asset conditions and maintenance tasks, comprehensive and customizable reports on maintenance activities, and intuitive analytics tools.
- User-friendly interface, with readily navigable software, mobile device accessibility, and a dashboard that can be adopted, integrated, and utilized with minimal training needed.
- Integration with other platforms such as Enterprise Resource Planning (ERP) systems, Point of Sale (POS) systems, and other common business software solutions.
- Performance and efficiency improvements such as a measurable decrease in asset downtime, a meaningful reduction in maintenance costs, a reduction in number of unplanned work orders, reduced time spent performing reactive repairs, and improvements to equipment depreciation.
- Compliance record including successful inspections and audits, a reduction in the number of accidents and injuries, and a reduction or elimination of penalties and fines for non-compliance.
Asset maintenance software: 5 reasons to choose Limble
Limble CMMS is a versatile asset maintenance management software solution, one that can improve the performance of your maintenance program, reduce your asset maintenance costs, and simplify asset lifecycle management.
Below, we take a look at some of the key features that help to make Limble’s CMMS among the most powerful solutions on the market today:
- An intuitive dashboard, user-friendly mobile app, and an easily navigable interface make adoption and implementation possible with minimal training and less likelihood of internal resistance.
- A centralized database with comprehensive details on make, model, serial numbers, and maintenance history makes it easy to view and update data on all assets in a single, readily accessible place.
- Automated preventive maintenance (PM) scheduling makes it possible to create and manage preventive maintenance schedules based on timed intervals, usage metrics, or real-time condition monitoring, all of which can reduce the occurrence of unexpected breakdowns and unplanned downtime.
- Work order management tools make it possible to quickly generate work orders with detailed instructions, priority levels, and due dates, and include tracking so that leadership can monitor the status of work orders in real time.
- Inventory and spare parts management features allow you to view inventory levels in real time, automate reorder alerts, manage vendor information, and streamline your organization’s procurement processes.
These are just a few of the powerful features that have made Limble’s CMMS an award-winning favorite. Other features include advanced data analytics, detailed reporting, sophisticated integration capabilities, compliance and safety checklists, and much more.To find out what else Limble’s CMMS can do to enhance your asset maintenance management strategy, check out our Complete Buyer’s Guide.
