Enterprise Asset Management Software aims to maintain, control and optimize asset throughout the asset lifecycle and results in increased productive uptime and reduced operational costs with optimized quality and better utilization of assets.
The global Enterprise Asset Management (EAM) market size is expected to grow at a CAGR of 8.7% during the forecast period, to reach USD 5.5 billion by 2026 from USD 3.3 billion in 2020.
Major forces driving the EAM market include increasing shift from legacy asset management methods to modern asset management by enterprises. Some of major factors for paradigm shift from legacy to modern Enterprise Asset Management (EAM) Software are –
COVID-19 Impact on Enterprise Asset Management (EAM) Market
Enterprises are opting for cloud based EAM solutions to manage assets during the COVID-19 times as it allows to remotely execute day to day operations. The demand for EAM is expected to surge as it offers effective management of assets. Many of the enterprises across verticals have adopted the work from home model to safeguard employee well-being and maintain operational efficiency, surging the demand for cloud based solutions.
EAM has a future in the cloud with SaaS services, as organizations are rapidly migrating to the cloud and services that are managed from a centralized location which is ideal for asset management. DreamzTech is a leading EAM Software Development Company has developed various cloud-based EAM solutions for clients across the globe and recently has launched IoT integrated Blockchain Enabled Enterprise Asset Management Product that helps organizations track, assess, manage and optimize asset quality and reliability. Organizations of all kinds have hundreds, thousands, even millions of assets. EAM best practices help maintenance teams gain greater control of complex environments and asset intensive sectors. A Modern EAM Software exhibits following features and functions –
An EAM can also be integrated with niche software that handles a subset of the EAM process, typically with a computerized maintenance management system (CMMS) or with maintenance, repair and operations (MRO) software.
Asset intensive companies need asset management solution that could provide asset tracking and recordkeeping.
DreamzTech can develop a custom asset tracking solution for end to end asset tracking and maintenance solution. To overcome core issues of large asset intensive businesses, the Asset Tracking Solution allows businesses to leverage Barcode or RFID technology to ensure consistency in record management, tracking asset journey throughout their useful life.
The main objective of Enterprise Asset Management Solution is to optimize asset quality and utilization of assets while reducing costs at the same time. It helps in achieving more flexibility in terms of operating and maintaining assets while incurring minimum expenses and ensuring full and effective utilization of assets.
DreamzTech has customized solutions for various industries and integrated solutions with ERP Solutions, hardware and software integrations, and developed applications for their specific needs.
Integration development with Enterprise ERP Solution and reap the benefits and their flexibilities.
Integration development with readily available accounting software for easy year-end process and accounts postings.
Integration with IoT Sensors for various types for near real time monitoring and to automatically invoke actions such as sending an email, or triggering events.
3rd Party Integrations for specific needs such as maintenance management, effective communication, Data Analytics etc
RFID based Asset Tracking with EAM System
DreamzTech developed RFID based asset tracking solution optimizes performance, extends asset life cycles, and reduces operational downtime and costs. Maintain all asset types no matter where they reside, set up new assets quickly and upgrade enterprise asset management (EAM) software automatically for nonstop uptime, reduced costs and minimized risk.
DreamzCMMS – Blockchain & IoT based EAM & CMMS Solution
DreamzTech has developed cloud-based Computerized Maintenance Management System Software (CMMS) that manages assets data, improves asset life-cycle, reduces maintenance costs and simplifies your journey from reactive to preventive maintenance and beyond.
Custom Enterprise Asset Management Solution
DreamzTech Enterprise Asset Management solution gives you a holistic view of the entire life cycle of an organization’s physical assets, track and trace asset’s journey securely using blockchain, allow you to predictively control your asset landscape through AI and analytics, reduce maintenance costs and save thousands of dollars for your business.