What is Enterprise Asset Management (EAM) software?
Enterprise asset management applications oversee the entire lifecycle management of company-owned physical assets starting from capital planning through procurement and installation. Tracking the performance, maintenance, compliance and risk management until asset disposal.
EAM software enables organisations to plan, execute and track the necessary activities, priorities, skills, materials, tools, and information associated with each asset. Enterprise asset management failure leads to unplanned downtime, suboptimal asset performance and supply shortages. Many organisations use EAM systems to demonstrate compliance with regulatory requirements, helping them avoid liability in the event of an asset failure.
These solutions are asset agnostic, tracking everything from tools and equipment to IT assets and buildings/facilities, for a single source of truth. It centralises and optimises the management of maintenance and work orders, and monitors parts/consumables assets increasing efficiency, reducing costs and extending your asset’s lifespan through proactive and data-driven decision-making.
What are the benefits of using EAM software?
The Return On Investment (ROI) from data driven EAM systems extends far beyond basic maintenance tracking. Using enterprise asset management best practices organisations can reduce downtime and improve productivity. Managing repair history and costs, parts consumption, and more.
- Improved asset performance and reliability: real-time visibility into asset status and performance, enabling proactive maintenance and reducing unexpected breakdowns.
- Extended asset lifespan: regular, data-driven maintenance and timely repairs help prevent premature asset failure and maximise the useful life of equipment.
- Reduced operational and maintenance costs: optimising maintenance schedules and minimising unplanned downtime lowers repair costs and capital expenditures.
- Centralised asset data and tracking: consolidates asset information, making it easier to monitor, manage, and optimise assets across locations.
- Streamlined inventory and resource management: parts and consumables tracking and resource allocation ensure maintenance teams have what they need, reducing waste and delays.
- Improved safety and regulatory compliance: meet industry standards, maintain audit trails, and reduce risks to safety and the environment.
We have integrated robust governance features to manage risks, formulate asset strategies, ensure regulatory compliance, and enforce internal policies effectively. Our market proven processes combined with our vast experience, offer you a structured approach. We remain at the cutting edge of software innovation, working with businesses large and small to achieve sustainable economic growth and discover insights that unlock endless opportunities.
How does an EAM system work?
Cloud based EAM platforms bring forth benefits like increased storage capacity for data records and heightened security measures. Moreover, these platforms seamlessly integrate with business tools such, as supply chain management software, Internet of Things (IoT) sensor networks, Geographic Information Systems (GIS) and Global Positioning System (GPS) applications.
An EAM (Enterprise Asset Management) system works by centrally collecting and storing detailed data on assets. This enables organisations to track assets, schedule maintenance, allocate resources, monitor performance, and ensure compliance. EAM systems often use data from integrated systems such as ERP to improve asset utilisation, reduce costs, and minimise downtime.
Physical asset audits can be conducted to verify the existence, accuracy, and condition of the EAM system data, ensuring assets are properly accounted for and safeguarded. Audits can also help prevent theft, misappropriation, and misuse of assets, and improve the accuracy of financial records and compliance with regulations.
Optimising maintenance for cost savings and asset longevity
Our system includes comprehensive functionalities for maintaining assets, ensuring safety standards, and managing asset disposal in accordance with environmental guidelines. At Hardcat, we have the advantage of deploying our asset management software solutions for over three decades and across a diverse portfolio of businesses in over 121 countries.
Optimising tools and equipment management
Enhance Efficiency and Accountability with Digital Tool Management Software
Finding tools and equipment quickly can significantly cut maintenance costs and improve personnel efficiency. When tools are scattered or misplaced, personnel spend valuable time searching for an item instead of focusing on their tasks. This not only delays projects but also increases labour costs and worker frustration.
Our digital tool management and tracking solution enhances productivity, elevates quality standards, bolsters safety measures, and ensures comprehensive tool accountability and consistency across your organisation. Unlike other options, our user experience is clean, simple, and easy to use, allowing tools to move from tool crib to field, or from person to person fluidly.
BAE Systems Australia implemented our Hardcat Lebosi® digital tool tracking system and replaced manual processes with our innovative pass-swiping capability. Checking out a tool is now as simple as scanning the worker pass, the tool item(s), and scanning them back when finished. Our software also tracks tool usage, job assignments, and operator qualifications which eliminates time, mistakes, and paper based processes.
Why is EAM important for organisations?
Enterprise asset management (EAM) software is a comprehensive asset management tool to manage the lifecycle of your physical assets. EAM software streamlines operations, reduces downtime, and boosts ROI. Organisations with complex asset needs benefit from easier maintenance management, better work order allocation, and asset movement tracking.
EAM includes all the functions of a basic asset register but incorporates advanced features that we will explore. By combining different functions and systems, organisations can increase efficiency and cut costs. Implementing an EAM solution will enhance regulatory compliance and decision-making leading to better asset performance and longer asset life, which aids environmental sustainability.
Adopting a sustainability-oriented holistic view of assets is essential for successful business operations. EAM asset software solutions are utilised by industries that heavily depend on the use and availability of their physical assets. The goal of deploying an EAM system is to control and measure asset performance. This will help businesses to:
- Cut costs by enabling proactive maintenance through regular inspections, condition monitoring, and predictive analytics.
- Optimise resource allocation to minimise unnecessary purchases and maximise the use of existing assets.
- Help prevent unexpected breakdowns, reduce expensive emergency repairs, extend asset lifespan, and minimise costly downtime.
No matter how advanced your asset management processes or how robust your data, long-term success depends on something deeper: your organisational culture. Enterprise asset management isn’t just a plan, policy, or piece of technology, it’s a mindset. It’s about understanding how your assets support your mission, empower your people, and shape your future.
What is an EAM system?
EAM systems track the assets of an enterprise which helps organisations to monitor and manage their maintenance using a systematic approach. The benefits include improvements to productivity and efficiency, as well as enabling an enhanced return on an organisation’s asset investment. Some of the other processes an EAM system can track are regarding asset:
- Ownership/Custodianship
- Condition
- On-boarding
- Dependency structure
- Location changes
- Check-in/Check-out (issue and return)
- Departmental Transfers
- Asset loan
- Final ethical disposal
Key elements of asset management rely on the seamless collaboration of strategy, activities, and support—working together to achieve your asset management goals. This includes:
- Thinking Big: Take a holistic view of your assets and their impact
- Staying Organised: Use a structured, step-by-step approach
- See the Connections: Assess assets within their broader system
- Manage Risk Wisely: Identify and address risks proactively
- Maximise Efficiency: Optimise resources for the best outcomes
- Plan for the Future: Ensure sustainability and long-term success
- Align with Your Goals: Integrate asset management with your organisation’s purpose
What is the digitisation of manual processes?
Digitising manual processes with advanced asset management solutions empowers organisations to automate tasks, streamline operations, and enhance efficiency. By reducing reliance on manual intervention, businesses can minimise errors, accelerate response times, and achieve significant cost savings. Technology ensures greater accuracy, improved productivity, and a seamless transition to a more efficient, data-driven workflow.
Digitisation in business involves converting traditional paper-based processes into digital formats. This transformation includes implementing electronic systems and digital tools to manage data and operations, replacing manual paperwork with streamlined digital solutions.
Benefits resulting from implementing digital processes compared to manual methods reveals substantial potential for efficiency gains. Adopting advanced digital workflows can improve time efficiency, enhancing operational productivity and effectiveness.
This transition not only streamlines tasks but also fosters an environment of enhanced accuracy and speed, propelling your organisation towards optimised performance. Implementation of Hardcat Lebosi can deliver a range of significant outcomes, including:
- Improved safety through qualification validation and comprehensive traceability
- Enhanced compliance via traceability and robust reporting capabilities
- Substantial reduction in losses through the visibility of all issued items
- Increased operational efficiencies, notably in the swift issue and return of assets
- Effective qualification management with associated training and qualification checks
- Enhanced inventory tracking with complete visibility of all issued items
- Individual accountability established by tracking assets and providing insights into their usage (what, where, who, and when)
- Optimisation of asset lifecycles through maintenance tracking and cost collection processes
- Extended capabilities to encompass consumables like PPE and spare parts
How does Hardcat EAM software help businesses meet their needs?
Hardcat solutions allow you to get the most out of your investment by providing complete traceability of your assets throughout their entire lifecycle. This includes planning, acquisition, and deployment support, as well as operational tracking and maintenance management. Hardcat records all essential information to assist in determining the right time and approach for operational activities, disposal, and replacement.
Our EAM software tracks, maintains, and refines an organisation’s resources with precision. It aims to maximise value and cut risks throughout the asset lifecycle, overseeing investments, planning, buying, and supporting deployment. It also includes:
Asset Tracking
With accurate asset tracking and valuation capabilities, Hardcat EAM serves as crucial documentation for insurance claims, facilitating faster and more accurate pay outs. By using technologies such as barcodes, RFID, GPS, or Bluetooth to capture and centralise information about each asset’s location, status, condition, and history.
Audit Capabilities
Physically auditing assets is essential to confirm their existence, verify their condition, and ensure that your asset database records accurately reflect reality. This process helps identify discrepancies such as missing, damaged, or obsolete items, reduces the risk of fraud or theft, ensures compliance with financial and regulatory requirements, and maintains the accuracy of asset valuations for proper financial reporting. Regular physical audits also support better maintenance planning and inform decisions about repairs, replacements, or disposals.
Chain of Custody
In asset software solutions, maintaining a clear and traceable chain of custody is essential when dealing with sensitive information. Hardcat EAM is designed with a strong focus on chain of custody, asset visibility and accountability. A critical tool for organisations that need to efficiently manage their sensitive assets such as armory management for police forces. Organisations can accurately trace the history of each asset, from the time it is acquired to the time it is disposed of, and who has had custody of that asset at any given time.
EAM for Maintenance
EAM works through a combination of software, asset identification hardware, processes, and best practices designed to manage the lifecycle and performance of moveable and non-moveable (physical and digital) assets. An EAM tool, when deployed, comes with multiple features for the management of the entire lifecycle of an asset. Asset maintenance software makes maintenance management and associated tasks simple to manage. Saving time and money. Tracking reactive maintenance, preventive maintenance, and control of daily operations. Read more on how EAM operates and transforms business efficiency.
Features of Hardcat enterprise asset management software
Centralised Asset Information Repository
Provides a single source of truth for all asset data, including acquisition details, maintenance history, and current status, ensuring consistent and accurate information across the organisation.
Comprehensive Audit and Compliance Tools
Hardcat solutions offer complete audit trails, automated compliance documentation, and robust governance features to support regulatory requirements and risk management.
Advanced Mobile Workflow Support
Native iOS and Android apps enable field teams to perform work orders, audits, and asset tracking (offline mode available) improving efficiency and data accuracy in real time.
Flexible Integration Capabilities
Features an open API for seamless integration with ERP, finance, HR, and IoT systems, eliminating data silos and supporting enterprise-wide information exchange.
Streamlined Maintenance Management
Maintenance teams can monitor and direct work orders on-site or at their workstation. Asset maintenance software ensures that maintenance gets done on time and cuts equipment downtime.
Improved Resource Allocation
EAM software provides detailed insights into asset performance and usage. It does this via effective tracking and accountability. It helps organisations allocate resources better, cutting costs. Ensuring better resource allocation helps to use assets effectively. This reduces idle time and improves efficiency.
Enhanced Decision-Making
Asset management systems for enterprises offer advanced reporting and analytics. They let managers make informed decisions based on real-time data. Access to detailed reports on asset performance and lifecycle data assists in strategic planning. It also aids in making better decisions. EAM software is crucial for promoting safety, reliability, and efficiency.
Efficient Inventory Management
Track spare parts and consumables with our asset software solutions. Also, manage stock levels and reordering. This optimises inventory management and ensures that needed parts are always available without overstocking. It cuts inventory costs.
Compliance and Risk Management
Enterprise asset management helps organisations to comply with regulatory standards. It does this by keeping detailed records of all asset activities and maintenance history. This makes sure all compliance documents are readily available. Reducing the risk of non-compliance penalties.
Health and Safety
Enterprise asset management (EAM) provides a number of important advantages that help lower risk and raise worker safety. Staying current with new health and safety compliance regulations is a continuous challenge. Worker safety is key, leveraging the capabilities of EAM software is not just a smart strategy; it is an essential part of fostering a culture of safety and well-being. EAM promotes workplace health and safety by:
- Scheduling safety checks for improved visibility and maintenance; understanding your assets and their conditions is vital for maintaining a safe environment. EAM software provides comprehensive visibility into all assets, allowing you to monitor their status, usage, and maintenance history.
- Enhanced incident tracking and analysis; EAM software allows for detailed incident tracking, enabling you to log accidents and safety violations. By analysing the data, you can identify trends. This data-driven approach not only enhances safety but also fosters a culture of continuous improvement.
Track Certifications and Maintain Training Records
A safe workplace relies heavily on well-trained employees. EAM software can support training initiatives by tracking employee certifications and maintaining training records. By ensuring that all employees are up to date on safety protocols and equipment handling, you empower them to act safely and confidently. EAM software facilitates better communication among team members. Employees can easily report hazards or safety concerns, ensuring that issues are addressed promptly and collaboratively.
Sustainability and Lifecycle Management
Comprehensive lifecycle management ensures that assets are utilised efficiently, maintenance costs are minimised, and disposal processes are handled correctly, maximising asset value and reducing total cost of ownership. The achievement of sustainability in IT (Green IT) objectives is imperative to the success of any organisation.
Scalability and Flexibility
An organisation can customise EAM software to scale and meet its specific needs. As the business grows or changes, you can scale the EAM software. It’s able to manage new assets and support more users. This ensures continued efficiency.
Frequently Asked Questions
What is Asset Management Software?
Asset management software functions as an application which optimises the tracking and monitoring of physical assets. The software provides digital solutions that enable organisations to track and manage their assets including equipment, buildings, machinery and IT resources. The software system stores vital asset information including location data, issue records, warranty details and repair logs which helps organisations achieve better asset utilisation at reduced costs.
What is Data-Driven Decision Making?
A strong example of data-driven decision making in Enterprise Asset Management (EAM) outside of obvious maintenance efficiencies is optimising asset procurement and capital investment decisions. EAM software aggregates and analyses historical asset performance data, usage trends, and lifecycle costs to inform when and what type of new assets should be acquired.
What is the Best Asset Management Software?
Hardcat Lebosi is widely recognised as top-tier enterprise asset management software, offering a modular, cloud-based solution that delivers comprehensive asset and inventory tracking, maintenance management, compliance, and auditability across the entire asset lifecycle. Its strengths include automated workflows, seamless integration with ERP and finance systems, and robust reporting and analytics, making it suitable for asset intensive industries.
What is the difference between EAM and CMMS?
Enterprise asset management system software (EAM) is often associated with a computerised maintenance management system (CMMS), but they are actually different. CMMS is just one aspect of EAM. CMMS focuses on maintenance management processes whilst EAM incorporating CMMS is a single source of truth around asset lifecycle management that supports all asset activities from deployment to disposal.
Why is Enterprise Asset Management Important?
Enterprise Asset Management (EAM) is important because it directly impacts operational efficiency, asset reliability, safety, and profitability. By centrally managing physical assets EAM helps organisations optimise asset performance, reduce unplanned downtime, and control operational and maintenance costs.
How does EAM Software Improve Asset Management?
EAM software improves asset management by keeping asset information centralised. This enables organisations to proactively schedule preventive maintenance, reduce asset downtime and extend lifespan reducing operational costs. Proof of compliance minimises legal and financial risks, avoids costly fines and penalties, and ensures your organisation is always prepared for audits.
More FAQ
Hardcat’s Next-Gen EAM Platform: Modular and Scalable
Hardcat’s asset management solutions are proven in the market. Our modular asset management and maintenance software manages your assets more efficiently. Easy work order creation on mobile apps and preventive/reactive maintenance in one place. We boost efficiency, reducing backlogs, and overtime costs.
Automating workflows and improving resource allocation, we offer advanced analytics for better decisions. Our asset management and maintenance software has advanced features which optimise your operations and improve asset performance. Transform paper-based forms and Excel spreadsheets.
Hardcat Lebosi complements ERP and finance systems. All components of Hardcat software are designed to provide superior asset management capabilities that stand alone or complement wider reaching ERP and Finance Systems such as SAP, Oracle, Technology One, SmartStream, and Sage among others.
Our inhouse developed specialist software suite serves as a dynamic single source of truth, revolutionising the way businesses manage their asset base. Minimise errors, accelerate response times, enhance accuracy, simplify workflows, and access your inspections anytime, anywhere with Hardcat solutions.
