Interview with Steve Richmond from Projetech about Enterprise Asset Management (EAM)

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Matthias Weber in conversation with Steve Richmond from Projetech about Enterprise Asset Management. Read the answers to five questions about EAM.

Interview with Steve Richmond from Projetech about Enterprise Asset Management (EAM)

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1. What is Enterprise Asset Management?

Enterprise Asset Management (EAM) is the overall maintenance and tracking of physical assets within an organization. Dozens of products are available in the marketplace and need different options to managing fleets and logistics. The larger, more mature and robust systems bubbled up to the top, resulting in the enterprise asset management space – a tool for managing physical asset requirements, tracking physical assets and accounting functions. Enterprise asset management requires asset management monitoring from procurement, to how it interacts with other equipment, to the manufacturing environment. The most basic advantages are typically around repairs and are cost-effective solutions to the operation. The time, money, operating cost and counterparts in theory are identical.
Environmental impact of your assets, health and safety concerns, need to integrate with other HR, accounting PRP systems, which is a large necessity in the EAM space. Tracking sale and disposal of assets once they’ve gone through the lifecycle is what a good system should do.

continue to 2. Why is a specialized software for Enterprise Asset Management so important?