Reachwell Software - Enabling new Trends in Enterprise Asset Management Solutions
Enterprise Asset Management (EAM) is all about managing the lifecycle of all assets in an organization such as IT Assets (Hardware & Software) and Non IT Assets (Plant & Machinery, Furniture& Fixtures, Facilities etc) and reducing their operational costs while improving their Utilization Index and return on investments. Reachwell, a provider of state of the art EAM tools, headquartered in Bangalore, understands the basic components that can make a great solution more effective.
As Gouri Shankar, Director at Reachwell Software points out, a good Asset Management Solution should
• Take complete control of assets – What Assets, Where its Located & Who’s using the solution
• Integrate with Asset Identification Technology such as Bar Code, RFID – Active & Passive
• Have a configurable Workflow for Asset – Movement / Addition / Transfer / Retirement
• Depreciation Accounting
• Maintenance & Work Order Management with effective Inventory & Spares Control
• Good accessibility using mobile devices for Audit and Field Maintenance
“This is exactly what Reachwell has been doing since 2004, providing simple , yet effective EAM solutions that help ROI and increase effectiveness of the workforce” points out Gouri Shankar.
Gouri Shankar gives a few more inputs as to how the CIO and an organization can benefit:
As an Integrated Solution: More and more organizations are realizing the need to bring the entire organization under a single platform thereby benefitting IT, HR, Finance, Accounting, Maintenance and Stores. Traceability and accountability is becoming easier with an integrated approach.
Asset Tracking Technology: Use of standard operation procedures for Asset Lifecycle including Asset Identification, Coding, Tagging and deployment. Barcode, RFID both Active and Passive Tags are being used and sensors too are being deployed for tracking Assets leading to effective maintenance.
Mobility: The Smart Phone has significantly empowered the Field Service Personnel to replace the use of cumbersome scanning devices. Smart phones are more and more used to read bar codes and also record and update data from the assets. EAM solutions are moving towards adoption of the mobile device quite significantly.
Impact of Technology adoption of EAM solutions: With the advent of Cloud computing, Mobility and advancement in tracking solutions at about the same time the Enterprise Asset Management Solutions is seeing a big change in adaption. The use of spreadsheets to record data is being looked at as more critically and the use of a more affordable EAM is being considered by the industry. Further with the introduction of a EAM solution as against use of spreadsheets, managements have a better understanding of their Asset Portfolio. A lot of Operational Intelligence is now being used to improve the Utilization Index of all assets and thereby a better return on investment while also ensuring Assets are better maintained and a robust Work Order Management System is in place. Audit, Compliance and Productivity are driving the use of technology for managing the assets.
In Conclusion:
The way forward is to have an integrated approach for the enterprise to manage all their Assets and not work in silos. The use of current trends in technology are definitely assisting the EAM Industry also to reach out to more and more users and thereby significantly growing this sector. Reachwell has been at the forefront of this integrated approach and will continue to do so in the coming years.
Reachwell, a provider of state of the art EAM tools, headquartered in Bangalore, understands the basic components that can make a great solution more effective.
Impact of Technology adoption of EAM solutions: With the advent of Cloud computing, Mobility and advancement in tracking solutions at about the same time the Enterprise Asset Management Solutions is seeing a big change in adaption. The use of spreadsheets to record data is being looked at as more critically and the use of a more affordable EAM is being considered by the industry. Further with the introduction of a EAM solution as against use of spreadsheets, managements have a better understanding of their Asset Portfolio. A lot of Operational Intelligence is now being used to improve the Utilization Index of all assets and thereby a better return on investment while also ensuring Assets are better maintained and a robust Work Order Management System is in place. Audit, Compliance and Productivity are driving the use of technology for managing the assets.
In Conclusion:
The way forward is to have an integrated approach for the enterprise to manage all their Assets and not work in silos. The use of current trends in technology are definitely assisting the EAM Industry also to reach out to more and more users and thereby significantly growing this sector. Reachwell has been at the forefront of this integrated approach and will continue to do so in the coming years.
