Upgrade your Regular Asset Management with Dynamics 365 EAM

Marketing Team
Published on February 23, 2022

Enterprise asset management (EAM) combines software, systems, and services to help maintain, control and optimize the quality of operational assets throughout their lifecycles. Enterprise asset management is a completely integrated set of functions that helps your business manage every aspect of owning, using and sustaining assets, as opposed to fixed asset management, which focuses solely on helping you manage the financial side of assets. D365 can provide you with exceptional visibility, control, and efficiency throughout the full equipment lifecycle, from asset construction and installation through preventative maintenance and long-term degradation and planning. It can help your business to avoid expensive breakdowns and improve the efficiency of mobile and field-based employees. The solution simplifies users' life and improves predictability and resource efficiency by reducing paper-based administration. You can plan and schedule work orders efficiently, back-flush parts and labor, automate quality check creation, and keep track of service delivery progress and inventory.

What are the Features of an EAM Solution?

Dynamics 365 Asset Management, a module within Dynamics 365 for Finance and Operations, provides critical visibility into equipment maintenance requirements and operations. Maintenance requests are one of the key areas where Dynamics 365 can help streamline procedures. The goal of asset management software is to collect data and use it to improve asset operations and make better business decisions regarding your assets. You can also utilize EAM software to streamline your maintenance procedures by automating error-prone and time-consuming tasks. Let’s take a closer look at the benefits that Dynamics 365 Asset Management delivers.

  • Work management

You can centrally manage planned and unplanned work and receive real-time updates on the progress. You can assign and follow the progression of work from the centralized unit without any hassle.

  • Cost and Revenue Management

You may examine and enhance your cost-to-revenue ratio generally, or at the level of functional locations or service objects, using the solution's extensive analytics capabilities.

  • Supply chain management

The supply chain includes assets and the materials necessary to maintain them. Track and analyze your asset, all through the supply chain in different locations. IoT technologies that connect EAM with supply chain management systems should be included ineffective solutions.

  • Integrated Field Service

To guarantee that field service managers and workers have all the information they need about tasks, assets, components, timeframes, and process stages, you can connect field service management directly to asset management.

  • Preventive Maintenance

Preventive maintenance is estimated ahead of time using actual data entered into the system. This allows you to plan maintenance work ahead of time and on your own time. Data is gathered in a calendar that serves as the foundation for a work order based on a schedule. Ad hoc work orders can be prepared and placed into the existing schedule when equipment needs to be repaired rapidly.

5 Reasons Why EAM Is Necessary

  1. Asset information and history

An asset is a valuable piece of property or equipment, and the purpose is to retain assets in good functioning order for as long as feasible. You may look at historical maintenance history, anticipated downtime, and other important information by having all of an asset's information at your fingertips, which will likely decrease future expenses by preventing unscheduled repairs.

  1. Ability to schedule and perform maintenance requests and repairs

Without EAM, a business will have to sort through emails, spreadsheets, papers, voicemails, and notes from various employees who are having equipment problems. An EAM system allows you to build a one-stop-shop where you can swiftly assess incoming requests and prioritize and schedule maintenance fixes.

  1. Maintenance plans

AEM allows you to quickly and easily review prior, present, and future maintenance requirements to ensure that your assets are on the right track for repair.

  1. Track maintenance costs

Because it's critical to keep assets in top shape for as long as possible, keeping track of all maintenance-related data, including expenses, is essential. This enables corporations and organizations to budget for future planned equipment maintenance, as well as to understand how much money maintenance will cost, as well as to see past costs for specific assets.

  1. Performance metrics

Production and meeting client requests are intertwined with all assets. Your essential performance parameters as well as all of your asset information are instantly accessible with an EAM solution, allowing you to plan ahead and prevent the costs and negative consequences of scheduled repairs.

 A Must-Have Business Solution

Many firms still use Excel and comparable programs for maintenance, but an enterprise asset management solution could be the next step toward a more robust, streamlined approach. Furthermore, many businesses are unaware of maintenance expenditures and may be unable to dig down specific asset information. Because some maintenance components are expensed across a huge MRO inventory, a corporation or organization may not have clear facts about which parts are meant for which assets. It's also crucial to keep track of how much time staff devotes to asset repair and maintenance. At the end of the day, an enterprise asset management solution is a tool for identifying new areas where you can improve.