Enterprise asset management refers to the management of physical assets of a company across various departments, floors, locations, units or geographical areas and it covers everything from design, commissioning, operations, decommissioning, maintenance, replacement of equipments etc. Asset management in an enterprise helps the organization to reduce expenses on asset related operations, extend the asset's life by regularly examining the condition of the assets and improve returns on assets.
Assets are high value machines or building or equipments, and there is a huge competition amongst businesses to get valuable assets to reduce expenses on failures and disruptions, and to produce products which have a high market value. Along with the product quality it should also provide safety, health and be environmental friendly.
SAP asset management is based on open architecture of Netweaver platform and it combines the features of SAP and non-SAP applications to provide flexible and a competitive product. The application can provide highly optimized and collaborative solution which can be used by all the partners and stakeholders of the organization.
The life cycle of the solution include the asset from the design specifications to installation, start up, maintenance, operations and decommissioning. The package of EAM includes financials management for investment planning and business needs.
1. The open architecture reduces expenses on implementation, learning and maintenance of the system. The complete system contains the SAP Netweaver, service and asset management, and it provides an out-of-box solution to the organizations as it can be delivered in integrated form to ERP, CRM, environments, health and safety, financials, HR, procurement, inventory, PLM and SCM.
2. Asset management solution provides aid to improve productivity, to maximize asset's life cycle, reduce cost of ownership, get support of the technology and supply chain infrastructure.
3. It helps in managing the physical assets which starts from purchase to end of the life of the asset.
4. It provides real time visibility into asset performance and maintenance.
5. It helps in boosting revenue and improving service.
6. It improves efficiency by providing integrated solution for project management and a centralized information centre.
7. It helps in increasing production by improving procurement practice and maintenance.
8. It supports management to sales and marketing module, handling agreements, overseas call centre, providing notifications to track warranties or claims and provide customer service through internet.
9. It can automatically provide field service, in-house maintenance and repair, service part management and planning.
10. It also provides asset owners and operators capabilities to manage assets, equipments and facilities. It supports easy management of physical assets; production equipments and infrastructure of e-organization.
11. SAP asset management modules helps the organization to get better visibility into asset functioning and maintenance, and it helps to manage expenses on assets and reduce operating costs.
12. It helps in improving customer satisfactions by improving quality of service delivery.
13. It improves focus on regulatory compliance, delivery of products and cost efficiency.
14. It helps the organization to manage service and enhance maintenance from end to end.